2 Truths and 1 Lie: Real Estate Edition

2 Truths and 1 Lie: Real Estate Edition

2 Truths and 1 Lie: Real Estate Edition: 

  1.  People spend more time researching a new car than they do a home loan. 
  2.  FSBO homes sell for less than agent-assisted homes.  
  3. In a real estate transaction, the agent pockets the entire commission. 

Got your answer? Scroll to see if you were right!

  1. TRUTH. Average time spent researching a new car? 11 hours. A home loan? 8 hours.
  2. TRUTH. According to the NAR, FSBO homes sold at an average of $58,000 less than their agent-assisted counterparts.
  3. LIE. An agent’s brokerage takes its portion (to be able to run the company to support its agents and keep the lights on), and then the agent gets his or her split. The split varies based on the firm and business model.

 


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