Resources on Property - Sale by Owner

Property - Sale by Owner

For Sale By Owner [...] is a term that describes a piece of real property that has been offered for sale directly by its owner. The owner has not solicited the help of a real estate broker, implying that no real estate commission is associated with the property. 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.

Many sellers who choose to sell via FSBO do so to avoid paying a commission to a broker, typically 6% of the selling price of the property in many parts of the US (Birger 2005). Commissions can range between 5% and 7% in different markets across the U.S. as well as in Canada.

According to a press release by the National Association of Realtors (NAR) about their most current annual survey of real estate consumers: 2005 National Association of Realtors® Profile of Home Buyers and Sellers (NAR 2006):

• 13% of 2005 US real estate transactions took place via FSBO (down from 14% in 2004)
• The record percentage of US real estate transactions (since tracking started in 1981) of 20% took place in 1987

Excerpt of "For sale by owner." Wikipedia, The Free Encyclopedia. 20 Oct 2006, 15:01 UTC. Wikimedia Foundation, Inc. 24 Oct 2006 http://en.wikipedia.org/w/index.php?title=For_sale_by_owner&oldid=82633556