According to the experience of Colby Sambrotto, the founder of ForSaleByOwner.com , it can’t be done. Mr Sambrotto, who it would appear would be the best spokesman for his own company and its premise of avoiding Realtors, put his 2.15 million home in NYC on the market and tried to sell it himself online for over 6 months without success. Only when he contacted a local broker did he discover that, among other things, he was priced $150,000 LESS than what the unit was worth, which was attracting the wrong kind of buyers to his home. After listing his unit with the broker, with a 6% commission, and raising the price by $150,000 Mr. Sambratto was suddenly able to sell his property, with the profit more than paying for the services of his Realtor.
http://gawker.com/5827297/for-sale-by-owner-founder-needs-broker-to-sell-his-apartment
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