For sale by owner (FSBO)
A home the owner is selling without a listing agent. The seller handles pricing, marketing, and paperwork, though buyers may still use their own agent.
Also called: FSBO, fizbo, by owner
Related terms
The agent who represents the seller. They price the home, market it, handle showings and negotiate offers.
The agent who represents the buyer. They find homes, set up showings, write offers and negotiate. Since 2024 most need a signed buyer agreement before touring homes.
What agents are paid when a deal closes, usually a percent of the sale price. It's always negotiable. It goes to the brokerage, which pays the agent their share.
A lawyer who reviews contracts, clears title issues and may run the closing. Some states require an attorney at closing; in others they are optional and hired for complex deals or disputes.
An agent's estimate of a home's likely sale price based on recent nearby sales and current listings. It guides list prices and offers but is not an appraisal.