Founder Sells Home- Using a Broker

Real Estate Agent with Boston Trust Realty Group

This is a great post about how even the best "FSBO" seller needed the expertise of an agent to sell and ended up making an additional $150K.

Original content by J. Philip Faranda License # 49FA1074963

Knowledge. The Wall Street Journal has reported that founder Colby Sambrotto has sold his Manhattan condo with a broker after failing for 6 months as a For Sale by Owner. 

Here's the best part: The broker got him $150,000 more than he was asking when he was selling on his own. So much for saving on commission- he netted more even after the commission! 

The story is that Sambrotto went for 6 months selling "By owner" on the Internet, online ads, and the rest of the FSBO gig at an asking price of $2 million for his Chelsea condominium. He then gave up (as 90% of FSBOs will) and listed with Jesse Buckler of Bond New York, who took the unusual strategy of advising Sambrotto to raise his price by $150,000. Clearly, this is a move that only works if you know your market. The home is now closed for $2.15 million after going under contract in May.  

Some have said that the brokers control the market in Manhattan so much that buyers seldom look online, and that is why FSBO failed and the broker succeeded.


Manhattan buyers are as savvy as they get, and sites like StreetEasy, Trulia and ResidentialNYC get huge traffic for Manhattan. The truth is that a good broker knows how to sell real estate better, faster, for more money and with fewer headaches than a website developer. 

It all goes to the old story about the plumber who is called in to fix a furnace and after tapping a few times on a specific pipe and getting the thing humming again, mails the owner a bill for $1000. Aghast, the owner objects, saying that he only tapped a pipe. He then got an itemized bill, $1 for tapping the pipe, $999 for knowing what pipe to tap. We are paid for what we know- not just what we do. 

If you want a do it yourself project, build a go cart. For the largest transaction of your life, hire a good professional broker. 

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About the author: The above Real Estate information was provided by Robert L Nichols Jr. Robert is a is real estate consultant and Entrepreneur. His services encompass real estate brokering, development, short sales, and innovative listing services.

Robert Has founded several real estate stratups and is the Founder of Boston Trust Realty Group, a Boston based brokerage firm. Robert's companies also include and Rigid Capital Investors, LLC.

Boston Trust Realty Group Logo MungoList Logo  Rigid Capital Investors, LLC

Comments (3)

Mary Macy
Top Agents Atlanta Metro - Roswell, GA
Top Agents Atlanta Metro

Thanks for Rebloging this, I missed it the first time, reblogs are great to continue stories and get the word out, thanks for being active in the rain.

Aug 03, 2011 04:16 PM
Mike Mayer
Mike Mayer, Broker/Owner - i List For Less Realty, LLC - Lafayette, LA

What a unique piece of news! This story should help shed light that it sometimes takes Real Estate professionals to acquire a successful transaction.

Aug 03, 2011 04:33 PM
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

An excellent post to put back up, the first time I have read it!

Aug 03, 2011 05:27 PM