For Sale By Owner (abbreviated as FSBO and ) is a real estate term which describes the situation in which a property is offered for sale directly by its owner and without that owner having solicited the help of a real estate broker, implying that no real estate commission is associated with the sale. 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.
Some real estate professionals in the United States use short word fizber (noun) to describe home owners who sell their homes and land by themselves and don't use a realtor. The word fizber was formed by means of agglutination from the word fizbo (pronunciation of FSBO) by adding affix -er to it.
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. Commissions can range between 5% and 7% in different markets across the U.S. as well as in Canada.
