25 June 2012 ~ 0 Comments

For Sale By Owner Sells for Almost $200,000 Less!!

Sell it by yourself real estate companies (FSBO or discount companies) always seem to pop up when the real estate market is hot. And a hot real estate market is what we have been experiencing over the past 10 years.

Now normally I’m not the type of person who revels in the misfortune of others but I recently came across a story that is certainly worth sharing.

A couple in the west end of Toronto and in a highly desirable neighbourhood decided to sell their house privately and on their own. From what I’ve been told through a neighbour is that the couple felt they had no need for the services of a professional real estate agent (yes I said professional) and were totally comfortable proceeding on their own.

They put their house up for sale in December 2011 and sold it with a January 16th, 2012 closing date. Sale price $630,000.

Two weeks afterwards the new owners list the home with a realtor for $749,900. They did absolutely nothing to improve the house and actually put on the listing that ” Fantastic Building Lot**Or Renovate The Existing Home”.

The house sells in multiple offers for $820,000!!!! That is $190,000 more than the suckers who sold it two months earlier!

Wow! I bet they are kicking themselves silly over that huge mistake! True story, real address. Plain stupid.


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