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1.
"FSBO" is an abbreviation used by people selling their homes. What does it mean?
For sale by owner. FSBO is the abbreviation of those who are selling on their own.
2.
When selling a home, the _______ is the price that the seller wants to receive.
Asking price. The fair market value and the selling price are different, but relevant, prices.
3.
The traditional full-service commission rate charged by real estate agents for selling homes is _______.
5-6%. This is the rate that real estate agents have historically charged. As house prices have risen and the real estate market has become more competitive, many agents will work for a lower commission or will take on portions of the job.
4.
When putting your home up for sale, what step might you have to take if you must sell your home in an unfavorable home-buying market?
Accept a lower price. If conditions for selling your home aren't favorable, you might have to accept a lower price than you'd like to achieve the goal of selling your home.
5.
When it comes to saving money on the real estate commission, which of the following is an example of a task that a real estate agent might take on for a lower commission?
All of the above. You may have to shop around to find an agent willing to take on parts of the job of selling your home for less money, but it can be done.