Buying a Home With The South Bay Team Fejeran Lyon Selling A Home 2 | Page 6

EVERYONE AGREES: YOU SHOULD USE AN AGENT BuyOwner.com is one of many websites that tell home owners they do not need to enlist the help of a professional agent to be able to sell their home. They encourage sellers to instead For Sale By Owner (FSBO). As per their website: “BuyOwner.com allows you to reach the most potential buyers in the shortest amount of time, in the most effective (the Internet) and most cost effective manner (no commission!) possible.” However, perhaps not everyone at the firm believes this. It has been reported, in a recent Herald Tribune article, that when it came to selling his Florida mansion, Al Bennati, the longtime chief executive of BuyOwner.com, has chosen to list his home with a local real estate agent. This doesn’t surprise us. The most recent Home Sellers’ and Buyers’ Profile Report from the National Association of Realtors revealed that, though 92% of buyers search for a home on the internet, 90% still use a real estate professional. This isn’t the first time that a CEO of a major FSBO website has enlisted the help of an agent when it came time to sell their own home. In August of 2011, the Wall Street Journal reported on Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, needed an agent to sell his NYC apartment. Even Fannie Mae suggests using an agent is the best alternative. Here is a quote directly from the Know Your Options section of their website: “Unless you are experienced at selling homes, it usually makes financial sense to get professional help - homes sold by agents typically sell at a higher price and spend less time on the market.” Bottom Line Two separate people made fortunes convincing others to sell their home through their FSBO sites. Yet, when it came to selling their own home, they recognized the value of using a real estate professional. There is a reason the real estate industry has been around for centuries: it performs a valuable service. www.SouthBayTeam.com [email protected] KEEPINGCURRENTMATTERS.COM 310.545.5511 Office 310.345.1239 Julie Cell 310.702.6999 Sheri Cell 3 CalBre: 01217478/01717819