FSBO Website Takes Off in Madison
Operating out of a spare bedroom, a 38 year old former social worker and her cousin have put together what is believed to be the largest For-Sale-By-Owner (FSBO) website in the country.
Charging just $150.00, and with a filing system which consists of a stack of papers in the bedroom closet, FsboMadison listed about 2,000 homes in 2005 and said that about 72 percent of its listings sell. The success of the site is partially attributed to the fact that liberal Madison is a hotbed of "anti-business" sentiment, a place where bucking the system is a "civic pastime", and the perfect breeding ground for a "free-market real estate revolution."
The manager of Wisconsin's biggest real estate broker's Madison office refers to the for-sale-by owner model, which has garnered a twenty-percent share of the Madison residential real estate market, as "a commission-avoidance scheme."
Owner's Website Gives Realtors Run for Money [New York Times]
Charging just $150.00, and with a filing system which consists of a stack of papers in the bedroom closet, FsboMadison listed about 2,000 homes in 2005 and said that about 72 percent of its listings sell. The success of the site is partially attributed to the fact that liberal Madison is a hotbed of "anti-business" sentiment, a place where bucking the system is a "civic pastime", and the perfect breeding ground for a "free-market real estate revolution."
The manager of Wisconsin's biggest real estate broker's Madison office refers to the for-sale-by owner model, which has garnered a twenty-percent share of the Madison residential real estate market, as "a commission-avoidance scheme."
Owner's Website Gives Realtors Run for Money [New York Times]
posted by Stefan J. Scholl, J.D. - Exclusive Buyer Agent at 1/12/2006 12:47:00 AM
1 Comments:
It's happening in Madison and it's also happening in the NW with http://www.choicea.com (choicea.com) where listings are free and agents are being challenged. i think choicea has a better chance of going national.
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