FSBO Gives Up, Hands Keys Over to Broker
As the market weakens are fewer sellers going to go the FSBO route? This question occurred to us as we were perusing the Douglas Elliman website yesterday and came across a listing for 273 Prospect Place. The address rang a bell so we searched the Brownstoner archives and discovered that we had featured it as…
As the market weakens are fewer sellers going to go the FSBO route? This question occurred to us as we were perusing the Douglas Elliman website yesterday and came across a listing for 273 Prospect Place. The address rang a bell so we searched the Brownstoner archives and discovered that we had featured it as an Open House Pick back on August 4th when it was a FSBO. Presumably the seller was unable to move the place on his/her own and decided to let a pro try while keeping the price the same (with the obvious result of a lower net price post-commission). Have you heard of other examples recently of FSBOs throwing in the towel? By the way, there’s an open house at this place scheduled for this weekend.
273 Prospect Place [Douglas Elliman] GMAP P*Shark
Open House Picks 8/4/06 [Brownstoner]
Ok this is not directly related to a brownstone house but i need some help. Today i looked at a new construction home a block away from Tompkins Park. The list agent works with Filmore and told me that the owner was asking 739,000. I got to the house and the agent from Filmore was not there so the owner showed me around. I must say that i was impressed. The first thing that you notice is the ceiling on the first floor i would say it’s about 20 feet high. The house has 9 bedrooms and 5 baths with a finished basement. Ok lets get to the conclusion i brought up the question of price with the owner and he told me 799,000. what would be a good offer price considering if i went with him he does not have to pay 5 to 6 percent commission he would to filmore.
show me a person in NYC who owned an apt or house for the last 3 or 4 years that didn’t appreciate 200k+. even a studio would get more than 20K over what they paid for it.
Shana Anderson- you need to learn what owning a property feels like than maybe you would understand the words that are written here. Stop blogging and go to work.
NeoGrec–Don’t you think uncertainty over Atlantic Yards factors into the equation too? There’s been a lot of turnover in Prospect Heights recently and one would imagine at least a few of these people want to get out before construction begins, for better or for worse.
brokers are consistently sending mailers advertising “free market appraisals”.. what’s wrong with asking them to do that?
it gives them an opportunity to market their services, and if the fsbo doesn’t work, they will probably pick the person who seemed most professional, knowledgeable, etc.
The Corcoran St Mark’s Ave listing for $1.6m hasn’t done any favors for anyone in Prospect Heights trying to sell a brownstone. My understanding is that it was deliberately under-priced at $1.6m because a) the owners had to sell in a hurry, and b) the brokers thought it would result in a bidding war. Both worked and the house sold for over ask. But ever since people on this site have been quoting it as the holy grail of what houses in PH are worth. Certainly prices are coming down and it’s an interesting stand-off we’re seeing between sellers who have gotten used to a certain appreciation and buyers who don’t want to over-pay in a cooling market. There’s a lot of wishful thinking on both sides. But what helps the sellers is that there are never enough good brownstones available in the most desirable locations.
they shouldn’t offer the service if they don’t want people to use it.
Mind your manners, dude.
I like the guy who says you should ask 3 real estate agents into your house just for their pricing feedback and then sell on your own. What a dick. I’d love to know what you do for a living, douche bag…