FSBO a No Go!

by The KCM Crew on August 9, 2011 · 28 comments

in For Sellers,Pricing

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This blog prides itself on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in the sensationalism of the moment. However, today will be different.

We can’t resist commenting on the story which recently appeared in the Wall Street Journal regarding Colby Sambrotto, the founder and former CEO of forsalebyowner.com. It seems the founding father and lifelong evangelist of the concept of selling your home without a real estate agent was forced to hire a broker to sell his home after failing at what he preaches others should do.

After failing to sell his NYC apartment on his own as a For Sale By Owner (FSBO), Sambrotto hired a broker and paid a 6% commission in order to get the job done. His personal experience helps refute some of the myths Sambrotto has been espousing for over a decade. Let’s look at two of those myths:

Myth #1 – You Will Pocket More Money Selling on Your Own

Most FSBO sites say you can save the commission by selling on your own. What happened in Sambrotto’s sale?

From the WSJ article:

“The broker, 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 and wasn’t drawing the right buyers.

By May, it went into contract, he said, after attracting multiple offers. It closed in the last few days for $150,000 more than the original asking price.”

Myth #2 – The Internet Alone Can Sell Your Home

Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. What happened to the FSBO guru when he attempted to only depend on the internet?

From the WSJ article:

“Looking to move his family to the suburbs, [Mr. Sambrotto] said he carefully staged his apartment for sale himself, and put it on the market. But after using a mix of websites to publicize his apartment, he said he had only ‘middling success’ and switched to a broker because many buyers were so reliant on brokers.”

Bottom Line

There is a reason the real estate industry has been around for centuries: it performs a valuable service.

via kcmblog.com

Why are Kids afraid to go to School....

As your child, grandchild, friend or even neighbor returns to school let are heart be softened by those who may need a friend or even a smile.

I growing up watch a little boy die because he was alone and bullied. This little boy came from a family who had very little, who brought his lunch every day to school and was teased because he did. His bus stop was the 3rd stop and by the time the bus stopped to pick him up the seats were full and he was left to stand in the back on the way to school.
The boys from the back of the bus would take his lunch and eat it in front of him, I tried to retrieve the lunch multiple time. Only thing I could think of doing was to save a seat for him up front. Finally this little boy just gave up and died, never had a health problem just gave up. To this day I worry when I get to the other side and face this boy did I do all I could to help him or will he say WHY....

I have been here and know just how scary it is to have a child hurt so bad that he or she is willing to take their own lifes. If I was not in tune I would have lost one of my children to the crule world of BULLYING. All because he was quiet, scared and felt he was alone.

As your kids great ready for school be in tune with them dont miss that opportututy to make a difference
Special request to all you kids returning to school in the next few days: If you see someone who is struggling to make friends or being bullied because he/she doesn't have many friends or because they are shy or not as pretty or not dressed in the most "in" clothes -- PLEASE step up. Say hi or at least smile at them in the hallway. You never know what that person might be facing outside of school. Your kindness might just make a BIG difference in someone's life

Home and Garden | Apartment Decorating Tips - Apartment - Decorating

Short on Space, Tall on Function

10 tips to make your tiny space feel bigger

Feel squeezed by your space? A lot of us do. But there are ways to feel as if you're living larger than you actually are with a few tips that won't make the walls seem as if they're closing in on you.

According to the American Furniture Manufacturers Association, 87 percent of Americans who describe their home as small to medium in size try to use every square inch to maximum efficiency. Rather than making their space look bigger, people want a cozy, intimate feel and prefer to use their space wisely and get the most out of it.

"One of the great things about small rooms is that they help us think creatively about the way we live," said Jackie Hirschhaut, vice president of the High Point, N.C.-based trade association. "Furniture is a true complement to a small abode—it helps you maximize your space by providing function, comfort and style."

AFMA suggests the following tips for ways to increase square footage without building on an addition:

Go Vertical: Consider tall furniture rather than wide to preserve precious floor space.

Use Your Walls: Add a shelf or rack to display a favorite collection or for hanging hats, ties and scarves.

Stash it in style: Today's occasional tables offer plenty of storage with drawers, shelves and cubbies plus glass-topped display space for collectibles.

Stack 'em: Stackable and folding chairs are excellent ways to keep a supply of seating for a dinner party, holiday gatherings or drop-in guests.

Sweet dreams: Sleep better knowing that you've taken advantage of the valuable space under the bed—in style. Use decorative boxes and storage bins to stow out-of-season clothing, wrapping paper, sporting goods or anything else.

Retractable doors: When shopping for an armoire or entertainment center, look for ones with retractable doors to provide more space when the doors are open.

Try the kids' department: Youth furniture is designed to fit into smaller rooms but also accommodates adults just fine. Have a small guest bedroom or a little alcove office? A child's dresser or desk might be the perfect fit.

Rollin', rollin', rollin': Many pieces of furniture have wheels—whether it is a sofa, a coffee table, a storage shelf, kitchen table or an ottoman. Enjoy extra mobility and function with a wheeled piece of furniture that is fashionable and practical.

Don't leaf it out: If a full-size dining room table is just too big for the dining area, ask your retailer about one with removable leaves.

Accent it: A mirror is always a nice accent to any room, but especially a small one. Mirrors add light and depth when space is limited. And the right accessories will highlight one's personal style and enhance the intimacy of a small space.

via realtor.com