What does For Sale By Owner mean?

FSBO

is short for "

For Sale By Owner

." The term is used to identify property, homes etc which are sold by the owner without help from a professional real estate agent. Owners typically advertise their properties by means of word of mouth, websites, classified ads, and other means.

FSBO

describes anyone who sells property without using a real estate agent. As opposed to listing a home with a real estate agent,

FSBO

is a real estate offering handled by the seller which does not involve a real estate agent. Agents often refer to owner-sold homes as "fizbos". In recent years, the term has been used more broadly to describe the process of marketing, buying, and selling of real property without the representation of a real estate broker.

When an individual decides to list his or her house

FSBO

, there are a number of factors to consider. Understanding fair market value for pricing the home is absolutely necessary for a homeowner to successfully sell a property. Many people are unable to set aside their personal feelings about their home in order to maintain a clear business perspective. In other words, just because you personally love your decorating touches and believe they have added value to your home doesn't mean the average homebuyer will agree. Before listing your home FSBO, thoroughly research real estate information in your area, including property values, title agencies, and typical contract terms.

FSBO

enables home owners to take control of the home sale process and to save a huge amount of money by not paying commissions. The homeowner sells the home through signs, web listings, newspaper classified ads, flyers, word of mouth, and open houses. The homeowner may also handle the close, or hire a real estate attorney to take care of the paperwork.