For Sale By Owner's History
Damon Giglio was convinced that a home owner is the best person to sell his home, because no one knows his home better than he does. He thought he was going to create an online platform to help home owners market and sell their property all by themselves, without having to pay a large commission to brokers. In 1999, Giglio founded ForSaleByOwner.com in New York and the website received immediate media attention. Within the next five years, the company went on to establish itself as America’s largest DIY real estate marketplace. The business model works based on a flat six percent commission fee structure, saving thousands and millions of dollars for the property owners. The company saved property sellers over one billion dollars in commissions on property sales between 1999 and 2010. In 2013 alone, the company helped save more than $70 million in brokers’ commissions. For Sale By Owner experienced steady growth over the years.
For Sale By Owner's Values
For Sale By Owner has seen constant growth since its inception, and has retained its position as America’s leading “by owner” real estate website since 1999. The company has always been guided by its core philosophy of helping property owners save more by eliminating broker’s commission on home sales. The company is now owned by Tribune Publishing Company, but it continues to uphold most of its original values, including client satisfaction, innovation, genuineness and simplicity. The company believes that anyone can sell a property on their own with the right tools and guidance. For Sale By Owner provides its members easy access to user-friendly marketing tools, how-to guides, and live customer support, enabling them to buy and sell homes directly without any assistance from real estate agents. The company is still based in Chicago and maintains a commitment to support the local community by taking part in fundraising and other social welfare activities.
What makes For Sale By Owner unique?
For Sale By Owner helped pioneer a new business model of buying and selling homes directly, rather than closing the deal through a real estate broker. This model helped many home owners save thousands of dollars in agent’s commissions. The company offers Home Selling Guarantee to home owners planning to sell their homes, and provides a wide variety of marketing tools, resources, listing packages, advertising services to suit almost requirement and budget. ForSaleByOwner.com allows the buyer and the seller to negotiate directly with each other, and the company never tries to interfere the deal on behalf of either the seller or the buyer.