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Instead of listing your home with a real estate agent, you could sell the property yourself. As of 2023, 7 percent of home sales were sold by their owners, according to NAR.
The agent does real estate on the side, part-time. Whether you're a buyer or seller, you want to choose an agent who is actively following the market every day.
Virginia Realtor Lon Crow has firm ideas on how homebuyers should choose a Realtor. And they don't involve calling the agent named at the bottom of a listing. "You have to find someone who will ...
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
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.
The National Association of Realtors (NAR) is an American trade association [5] for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, [6] making it the largest trade association in the United States [7] including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
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