Colby Sambrotto recently sold his Chelsea apartment with the help of a real-estate broker, seemingly turning his back on ForSalebyOwner.com, the owner sales website he founded in 1999 and sold to Tribune Co. in 2006. Accoding to an article in The Wall Street Journal, this questions the feasibility of direct for sale by owner deals, or FSBOs, which many attempt in order to avoid the high brokerage commissions of the Manhattan real estate market. Sambrotto said to the Journal that his problem in selling on his own was that the market is heavily controlled by agents, so many people don’t bothering checking online listings. His broker, Jesse Buckler of Bond New York, said Sambrotto was asking for too little, attracting the wrong buyers.
Others have had more success selling on their own, like Warner Music Group chief executive Edgar Bronfman, who sold his East-side townhouse without a broker for $50 million in 2007.
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