For Sale By Owner (FSBO): the process of selling your home without a real estate agent

The FSBO Process, aka For Sale by Owner

For Sale By Owner ( FSBO ) is the process of selling your home without a real estate agent. Approximately 25% of all real estate transactions in Canada are completed without real estate agents. Private home sales are a growing trend in Canada, since owners want greater control over the sale of their homes, while saving thousands of dollars by avoiding high real estate commissions.

When you sell your home privately you are in control of your home sale. You can decide when and to whom you show your home. Sales of FSBO properties are generally completed within 15 to 80 days. Private sellers advertise their homes, schedule their own open houses, and talk directly with buyers. Most owners who sell privately contact a lawyer and have the lawyer write and review the contract before finalizing the sale. Owners who sell privately do not have to pay 5to 7% of their home's value to a real estate agent. Owners decide on the home sale price and they decide when to have open houses. You can save 4 to 7% with a commission free home sale.

For Example, if two neighbours have similar properties and one sells with an agent for $300,000 and the other sells with ByTheOwner.com for $300,000, then the home sold on ByTheOwner.com would result in the owner saving more than $15,000 on the sale of his home!!! A recent study by Northwestern University proved that people who sell their home without an agent save more than people who sell their home with a real estate agent.

So far, ByTheOwner.com customers have saved more than $1 165 087 352 in commissions.