Kate Steven, Best Real Estate Blog

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Rainmaker
2,858,002
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

FOR-SALE-BY-OWNER... if no agent is involved representing the seller it is a FSBO.

Mar 15, 2019 04:28 AM
Rainmaker
50,572
Morgan Taylor
Realtyna - Newark, DE
Realtyna- MLS RETS Integration software & services

I am here for the funny answers :D

Mar 15, 2019 06:40 AM
Rainmaker
659,021
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

In Arizona, we are only permitted to draw documents incidental to real estate transaction if we represent one of the parties. Otherwise we are practicing law without a license.

I suspect that other states have similar requirements (maybe not TB, IDK) but a FSBO cannot hire us 'just to draw paperwork' unless we're representing them or a buyer.

So:°YES/NO (TY K-C you are correct)
°N/A
°YES

Mar 15, 2019 06:14 AM
Rainmaker
3,059,210
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

A seller who has a fool for a client!

Mar 15, 2019 03:54 AM
Ambassador
3,063,327
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

A seller with no representation whatsoever. 

Limited listing services will, for a small fee, place listings in MLS. They're still almost always not represented by an agent when negotiating, etc.

Mar 14, 2019 10:24 PM
Rainmaker
918,029
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

My definition of a FSBO is a homeowner that is in need of a licensed real estate professional to sell their property.

Mar 14, 2019 08:58 PM
Rainmaker
1,497,344
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I'm not sure what you are looking for here Kate Steven . A few are well qualified (maybe even retired Realtors) and some are outright cheats so it's just like any other aspect of life. 

Mar 15, 2019 05:35 AM
Ambassador
2,832,745
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

a seller with no representation.  

Mar 14, 2019 09:31 PM
Rainmaker
371,779
Dan Pittsenbarger
Keller Williams - Bellingham, WA
Improving Conditions

A seller that is representing themself. No professional fiduciary representation.

Mar 15, 2019 07:27 AM
Rainmaker
8,959
Krista Jenkins, REALTOR®
Egenbacher Real Estate - Lubbock, TX
Residential sales and retail & office leasing

A true For Sale By Owner would be a seller without an agency relationship with a brokerage. A property that is listed in the MLS but could still be sold by the owner without the use of the agent, there would most likely be...

  • An exclusive agency agreement, or
  • An open listing agreement

I don't know any agents that would bother with exclusive agency or open listing agreements because determining  the "procuring cause" could be tricky.

Mar 15, 2019 07:15 AM
Rainmaker
623,190
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

All of your examples could be a different shade of FSBO.

Basically, the FSBO is trying to same money on commission while often losing in the greater scheme.

Mar 14, 2019 09:52 PM
Rainmaker
569,730
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Someone who tries makreting their property for sale without the services of a realtor, and then realizes its not as easy as they thought, then they hire me!

Mar 15, 2019 06:06 AM
Ambassador
3,896,742
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Someone who needs to fail a bit longer before hiring me.

Mar 15, 2019 05:36 AM
Rainmaker
527,432
Peter Mohylsky, SoWal Is HOME.
Gulf Place @ 30A - Santa Rosa Beach, FL
Let me help you find your path to the beach.

They all sound like folks I do not want to work with.  Does not really matter to me.

Mar 15, 2019 05:17 AM
Rainmaker
724,801
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

An aspiring Falafel truck owner.

Mar 15, 2019 05:05 AM
Rainmaker
5,125,157
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

For sale by owner.

Mar 15, 2019 04:36 AM
Rainmaker
254,908
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

At true FSBO is one who can go it alone with out representation. I remember seeing an NAR statistic that less than 10% of FSBO's are successful start to finish without the help of a REALTOR.

Mar 15, 2019 03:54 AM
Ambassador
3,858,686
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

When the seller chooses not to be represented by  a licensed real estate professional. I call them unrepreented sellers!

Mar 15, 2019 07:25 AM
Rainmaker
2,393,104
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

A do it your self-er in Real Estate should define it

Mar 15, 2019 06:53 AM
Rainmaker
1,495,734
Sandy Padula and Norm Padula, JD, GRI
Realty National & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

A 'Fish out of water'?  Often said,an attorney is a fool who represents himself in a case. So too, for a FSBO

Mar 15, 2019 06:27 AM
Rainmaker
399,556
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

All the above

Mar 15, 2019 05:25 AM
Rainmaker
2,784,969
Richard Weeks
Dallas, TX
REALTOR®, Broker

Idiot (the FSBO, not you)

Mar 15, 2019 08:02 AM
Rainmaker
4,747,963
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

a homeowner who does not use a real estate agent....

Mar 15, 2019 07:47 AM
Rainmaker
4,192,373
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I don't have one.  I do not like generalizations of any kind.  A

Mar 15, 2019 06:38 AM
Ambassador
1,577,156
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Somethong that is not full service that relies on the owner to broker their own terms.

Mar 15, 2019 06:27 AM
Rainmaker
676,489
Richard Bazinet /MBA, CRS, ABR
WestUSA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

There Candice A. Donofrio provided the reply for AZ.

As soon as a licensed real estate agent touches the pen and paper for anything real estate on behalf of a party - then there's representation with all the rules and obligations - regardless of how the service is provided.

Furthermore, the flat list listing stills needs a listing agreement and the listing is subject to the local MLS rules and the rules of real estate. So, not a FSBO.

Second, for an attorney to do a real estate transaction, the attorney must have a license to practice real estate. Otherwise, in AZ, it's a state violation.

And lastly, a real estate relationship does not have to be in writing. It can be implied by the words and the actions.

Mar 15, 2019 09:07 AM
Rainmaker
1,189,143
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

If an agent is involved in any way, shape or form, they are not FSBO.

Mar 15, 2019 09:00 AM
Rainmaker
893,356
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

This was just asked a few days ago.

Soon to be with a Realtor = FSBO

Mar 15, 2019 08:09 AM
Rainmaker
494,597
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

 If you have not contracted a Real Estate Agency to help sell your home then you are a FSBO. If you are using a Agency only to get on MLS then you are a FSBO I can't try & list. 

Mar 15, 2019 09:07 AM
Rainmaker
1,200,461
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Let me add . . .  In the Weeds

Mar 15, 2019 08:59 AM
Rainmaker
951,504
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Yes. I think the listing agent receives $300 before the steep E&O insurance. Tribune sponsors it....

 

 

Mar 15, 2019 08:52 AM
Rainer
211,816
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

When you have to speak with the homeowner more than you can speak with the real estate agent, I consider that a FSBO.

The owners that buy their sign at The Home Depot or write it on cardboard; those are a FSBO.

The one that hires a limited service firm (similar to my first paragraph), those are a form of a FSBO.

Different shades of FSBOs, just like different shades of 'professionals".

Mar 15, 2019 08:47 AM
Rainmaker
697,449
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

FOR SALE BY OWNER pays a flat fee to be listed in the MLS. That's all they receive for services from those folks.

Mar 15, 2019 10:53 AM
Rainmaker
1,232,091
Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Anyone trying to sell their home without fiduciary representation from a licensed agent/broker is considered a FSBO throughout the transaction.

Paying an agent doesn't necessarily make them a fiduciary. 

 

Mar 15, 2019 10:15 AM
Rainmaker
2,734,365
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

If by the owner there is no agent assist. 

Mar 15, 2019 09:33 AM
Rainmaker
984,323
Corinne Guest
Barrington Realty Company - Barrington, IL
Barrington Lifestyles

Might depend on state.

Mar 15, 2019 09:29 AM
Rainmaker
2,968,735
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Someone that has alot to learn.

 

Mar 17, 2019 11:32 AM
Rainmaker
3,964,716
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

No agent in any way shape or form

Mar 16, 2019 07:17 PM
Ambassador
2,976,646
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I am in the process of selling a limited service listing and it twice the work as a regular transaction. He is not a fsbo but a person who paid upfront for a sign and mls ad..

Mar 16, 2019 05:10 PM
Rainer
1,190
Shannon Faith
Quality Home Air Care - Hackberry, AZ
Helping homeowners improve indoor air quality

They are home sellers who sell their homes directly to buyers without using real estate agents.

Mar 16, 2019 05:13 AM
Rainer
2,240
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Shinco Led TV - Buckskin, IN
Buy Online Flat Screen LED TV, 32 inch led tv, 24

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Mar 16, 2019 03:54 AM
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printer-help-number.com - Fallbrook, CA
I am a seo executive

 

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Mar 16, 2019 02:57 AM
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Mar 16, 2019 01:03 AM
Rainer
2,290
Sam Smith
Amazon Alexa Setup - Starbuck, WA
Download Alexa App for Amazon Alexa Setup

For Sale By Owner, or FSBO, is the process of selling real estate without the representation of a real estate broker or real estate agent.

For more info visit FSBO Seller

Mar 16, 2019 12:24 AM
Rainer
2,650
Niki Diaz
Industry Observer - Saratoga Springs, UT
Industry Observer

An FSBO seller (for sale by owner) would be a customer without current representation.

Mar 15, 2019 09:50 PM
Rainer
2,995
Daniel Moayanda
Perfect Motivations, Inc. - Cambridge, NY
Writer, Guest Blogger,Publisher, Real Estate Agent

For Sale By Owner or FSBO, is the process of selling real estate without the representation of a real estate broker or real estate agent.

There are many options open to the FSBO seller. Many companies both online and brick and mortar offer various levels of services and price points. These include:

  1. Do it all yourself and pay no commission. For the solo job, thanks to the internet the creative seller can obtain all kinds of help. Some trusted sources provide step-by-step instructions to set a price, get the house ready for sale, hold an open house, open escrow and even transfer the keys. You can put up a free website with one of the simple and free website companies. Get a professional looking sign with a mailbox attached to it. Make your own Flyers. List on For Sale By Owner websites. And, when you bring in a buyer who is not working with an agent, you pay no commission. The two parties can obtain contractual assistance from their own lawyers or hire one lawyer to facilitate the entire transaction.
  2. Get a Little Help and Pay a Little Commission. There are several flat fee listing services that for a nominal fee will put your property on the Multiple Listing Service so your property is marketed to all the real estate agents in the area and is listed on the nationwide MLS Realtor.com. In exchange for this valuable market share, the FSBO Seller must agree to pay a commission to the agent that brings a buyer. The end result is that you end up paying about half of what you would have paid with a regular listing. The agent who brings in the buyer will also prepare the vast majority of the paperwork for the sale. Since the agent is representing the buyer, not you, you may want to hire an attorney to review the transaction and to make sure all required Seller disclosures are made.
  3. Flat-fee and hourly home selling. Alternatively, a home seller can either pay a flat fee or hourly fee to a real estate agent. This can be a one-time payment, or an ongoing hourly home selling agreement. These allow the FSBO seller to avoid commissions and still receive a-la-carte real estate agent help.
Mar 15, 2019 07:14 PM