What Does “For Sale By Owner” Or “FSBO” Mean In Real Estate?
A common way to sell a home in this competitive housing market is via “For Sale By Owner” (FSBO). This means that a real estate agent will not be involved in the sales process. The seller of the home has decided not to involve a real estate agent and will handle the transaction completely by him or herself. The owner of the home will be involved in every part of the process, from showing the house to handling the negotiations.
Why would someone want to sell their home as FSBO? Usually sellers decide to do this because of the potential to save money. The big savings comes from not having to pay a real estate agent a commission once the home sells. This commission cost can be anywhere from 5 percent to 7 percent — in some cases,