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For sale by owner (FSBO) is the process of selling real estate without the representation of a broker or agent. This is where the homeowner sells directly to a new homeowner. Homeowners may still employ the services of marketing, online listing companies, but can also market their own property.
Forsalebyowner.com is the largest "by owner" real estate website in the US. It charges a flat fee to property owners who advertise their property on its website, and connects buyers and sellers without brokers.
In September 2007 FSBO Madison was the subject of a study conducted by three economists from Northwestern University and the University of Wisconsin. They reviewed the strengths and weaknesses of using a realtor and found that homes utilizing a realtor typically sold faster, but for-sale-by-owner sellers came out ahead financially.
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The Buyer Agent owes fiduciary duties to the Buyer under this relationship and agreement, including fidelity, honesty, dedication to purpose, acting in the Buyer's best interests, etc. [5] The commission to be paid to the Buyer's Agent in the Buyer Agency Agreement, though ultimately the Buyer's obligation, is generally offset in whole or in ...
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