What does "for sale by owner" (FSBO) mean?

"For sale by owner" (FSBO) refers specifically to a property that is being sold directly by the owner, without the involvement or assistance of a real estate agent or broker. This means that the owner takes on the responsibilities of marketing the property, handling negotiations, and managing the sale process independently. Many sellers choose this route to save on commission fees typically paid to real estate agents, though it can come with challenges, such as limited market exposure and less expertise in negotiations and legalities.

The other choices do not accurately describe FSBO. A property listed by a real estate broker implies that an agent is involved, which contradicts the definition of FSBO. The mention of a program that assists owners in selling homes quickly does not define FSBO, as this term strictly relates to the owner's direct involvement in the sale. Lastly, describing FSBO as a marketing strategy for real estate agents overlooks the essence of the term, which fundamentally revolves around the direct efforts of the property owner. Thus, the correct choice encapsulates the core concept of FSBO, aligning with how homeowners can opt to sell their property independently.