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FSBO Millionaire Uses Real Estate Agents
Dated: September 4 2020
Views: 35
We pride ourselves on the quality of Sarasota 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.
Do as I Say… not as I Do
This adage could be no truer today after it has been reported, in a recent Sarasota 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.
BuyOwner.com is one of many websites out there now that encourage homeowners that they do not need to enlist the help of a professional agent to be able to sell their home. They go as far as to tell homeowners:
"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."
Let’s break down that statement:
Myth #1 – The internet is the most effective way to sell your home
Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. When the time came to list his own home, Bennati went against his own advice saying:
"To sell a home of this magnitude, it needs to be done by a person and a company that reaches buyers of this caliber."
Myth #2 – FSBO’ing is the most cost-effective solution
Without proper exposure to the “right kind of buyers” your home will not sell. Many real estate professionals have elaborate strategies to get your listing in front of exactly who needs to see it.
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 the time came to sell their own home. In August of 2011, it was reported that Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, needed an agent to sell his NYC apartment.
And, he got more money!!!!
Bottom Line
Two separate people made fortunes convincing others to sell their homes 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.
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Robert Paul, PA
"I'm here to empower YOU to make confident and impactful decisions." Serving both buyers and sellers, I specialize in assisting those relocating to the Sarasota area or those seeking a second home in ....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 22, 2026 12:53 AM UTC
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