Chatter all over the real-estate blogosphere is the story about how the founder and former CEO from the popular website ForSaleByOwner.com attempted to sell his very own condo for six months — and then ultimately decided to hire a real estate broker. Colby Sambrotto used his own site, newspaper ads and other Internet for-sale-by-owner sites to sell his condominium. And failed. Until he hired a real estate agent.
Here is the best part: His agent advised him to increase his price by $150,000 and, sure enough, the property sold for the higher price, proving once again that trying to sell your own condo does not necessarily save you any money. In this case, he paid a full 6 percent commission and walked away with more in his pocket.
The Wall Street Journal has more on the story.