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FSBO System is the first home-selling process to receive a patent.

[Category : - SOFTWARES- BUSINESS METHODS- Ordering and selling methods]
[Viewed 1102 times]

Brief Description. FSBO System, founded in 1995, is the only home-selling process that replaces both the seller’s agent and the buyer’s agent. It is delivered through an interactive, on-line tutorial with supporting materials, with the assistance of a licensed, specially-trained real estate “Counselor” rnrnBesides the patent, the IP includes the Company’s registered name and logo, the URL, and significant copyrighted legal forms and documents, such as the Counselor training materials.rnrnBenefits: Over 25 years, good markets and bad, FSBO System clients have sold faster and had a better chance of success than agent listings. Most clients saved about 5% of the normal 6% agent commission. In over 4,000 transactions, there has never been a legal, ethical, or regulatory issue for the Company, its clients, or its employees. rnrnCompetition: There are many national and local websites that offer a discount listing on the Internet (e.g. ForSaleByOwner.com, FSBO.com) but, to succeed, those sellers must pay a 3% commission to the buyer’s agent (the agent for their bargaining adversary!). FSBO System is the only process that replaces both the seller’s (listing) agent and the buyer’s agent. Most FSBO System clients save 5% of the normal 6% agent commission, about double the savings with a discount broker. rnrnMarket for the Technology: Based on our experience, the market is up to 9% of the residential resale (i.e. “used house transactions in the US and Canada, or about 600,000 transactions per year. (We have a professional survey that shows that the market could eventually be much larger than that). rnrnMarket for the Patent: There are at least four ideal types of prospective buyers for the patent:rnrn * A real estate franchisor (e.g. Realogic) that would rebrand FSBO System and add it to its menu of services;rnrn * A real estate service provider (e.g. mortgage, title, escrow companies) that could use its FSBO System real estate offices to feed business to their main business activity; rnrn * An investor that would license or franchise the technology to Realtors in exchange for fees and royalty payments; orrnrn * A major retailer (Costco, Walmart) or financial services company (H&R Block, TD Ameritrade) that would rebrand the technology and offer it through their existing network of local offices or storesrnrnInventor: Kirk Wickersham is a Yale-educated lawyer and real estate broker with 50 years’ experience. He is a former Chair of the Alaska Real Estate Commission and a former Regent of the University of Alaska. He founded FSBO System in 1995. rn

Patent publications:

US 10552854

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kwick (United States)

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