ByOwnerPros.com | Learning Center
LEARNING CENTER
This section is dedicated to those seeking knowledge on how to buy or sell a home.
Whether your a seasoned pro, or a first time home buyer or seller, you're sure to pickup some valuable tips from these pages...
What is FSBO?
The short answer: FSBO is an acronym for For Sale By Owner! FSBO (pronounced "fizzbo"), is the process of selling real estate without the representation of a real estate broker or real estate agent. Homeowners may employ the services of marketing or online listing companies or market their own property but do not pay a commission and represent themselves throughout the sale.
Interaction with Real Estate Agents
One of the most popular reasons why homeowners choose to sell their house without the assistance of an agent is to avoid paying an agent's commission. In the US the agent's fee typically makes up 6% of the selling price of the property. Here in the Indianapolis metro, it's as high as 7%.
When a homeowner decides to sell their home without a real estate agent and a buyer who is not working with an agent wants to buy the home, the seller pays no commission because no real estate agents are involved.
If a buyer who is represented by an agent is interested in a FSBO home, that buyer's agent may request the owner pay him or her a commission, or finder's fee, for bringing the buyer. The seller may choose to either pay the fee or refuse. The seller is not legally obligated to pay any commission. If no agreement is in place with either the home buyer or the For Sale By Owner, the buyers agent may not necessarily be compensated in the transaction.
Buyer Tips
General tips for home buyers.
Seller Tips
Tips for home sellers.
Industry Professionals
These are the home industry professionals we recommend using.
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