Colby Sambrotto, founder and former chief operating officer of ForSalebyOwner.com, spent six months trying to sell his luxury New York City condo himself through online listings and classified ads. He then turned it over to a Real Estate Agent where the two-bedroom pad fetched $2.15 million.
The Agent, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion’s Head building on West 19th Street near Sixth Avenue was priced too low. It just wasn’t drawing the right buyers.
After attracting multiple offers, Mr. Sambrotto’s condo went into contract in May 2011. It closed at $150,000 more than the original asking price – covering well more than Mr. Buckler’s standard commission.
“At first he wouldn’t let me increase the price,” Mr. Buckler says. “I told him I know what I am doing – the market is picking up.”
Mr. Sambrotto confirmed the details of the transaction with Mr. Buckler as the Agent to The Wall Street Journal.
The Benefit of Right Pricing
Right pricing clearly works to your benefit by resulting in a premium selling price in the shortest time. Pricing right means more qualified buyers are viewing your property, you will not lose money by chasing the market down and you will avoid the stigma of being a ‘stale’ listing. Pricing is the most important aspect of selling your home and it requires the extensive market knowledge that only a Real Estate professional can bring.
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