Definition
The For Sale By Owner (FSBO) transaction is any real estate transaction where the seller chooses not to mandate a real estate broker.
**In Quebec**: - Main platforms: DuProprio (leader), Proprio Direct, Kijiji Immobilier - Represents ~18-22% of Quebec residential transactions - The seller saves the selling broker's commission (typically 3-5% of price)
**Impact on buyer's financing**: - The buyer can (and should) work with a mortgage broker regardless of the presence of a selling real estate broker - The mortgage broker does not receive a commission from the selling broker — compensation comes from the lender, without conflict - The purchase offer can be drafted with the help of a notary or via available OACIQ forms
**FSBO risks for the buyer**: - No professional representation during negotiation - No guarantee of access to comparable market data - Purchase offer drafted by the parties without an expert — possible errors
**Tip**: Even in a DuProprio transaction, a buyer should: 1. Obtain mortgage pre-authorization before any offer 2. Hire a building inspector 3. Mandate a notary for drafting the deed of sale