FSBO stands for For Sale By Owner, where an owner markets and sells an asset without employing an external intermediary or agent. By handling promotions, negotiations, and documentation themselves, they aim to save commission costs. However, they also take on responsibilities typically handled by experienced professionals—like pricing strategy, contract drafting, or screening potential counterparties.

Key Points:

• Commission Savings: Primary motive is avoiding extra fees.
• Time & Effort: Owners manage showings, deal with inquiries, and handle marketing channels directly.
• Market Knowledge: In-depth understanding of local conditions helps set rational pricing.
• Risk Factor: Mistakes in paperwork or negotiations can offset savings.

FSBO appeals to those confident in their ability to coordinate the entire process, but it necessitates thorough research and readiness to assume agent-like duties during the transaction.