For Sale By Owner Term is a real estate term which describes the situation in which a property is offered for sale directly by the owner and without the owner having asked for help by a real estate agent. The term has been used more broadly to explain the process of marketing, selling, and buying, of real property without the representation of a real estate Agent. If a seller decides to market a home as a FSBO, and a buyer who's not working with an agent wants to buy his/her home, the seller pays no commission because they did not sign on with a real-estate agent. If a buyer who is represented by an agent is interested in a FSBO home, that buyer's agent may request the owner to pay him or her a commission or finder's fee for bringing the buyer.