The real estate industry mainly consists of properties that are available for sale in a given demographic area. Sometimes, the real estate market gets affected by economic forces that may cause a rise and fall in property prices. This is what many refer to when the market is up or down. The real estate market largely entails residential and commercial properties, but the most popular is residential real estate. Trends in the real estate industry are closely monitored to ensure that there is a measure for the general welfare. This is because the majority of residential real estate properties are owned by families and when this number rises, it can be taken to mean that a large number of families are doing well financially since it means their net worth is increasing.
Real estate agents generally help people to buy or purchase homes for sale in Asheville NC by providing advice on what drives the dynamics of the real estate markets. Real estate agents make sure that all transactions of the buyer or seller follow state regulations and local laws and negotiate prices on behalf of their clients.
Buyer agents represent their clients who are looking to buy properties. Listing agents, however, represent clients looking to sell properties. It is the work of both agents to ensure real estate transactions for their clients go smoothly and efficiently. Agents make their money by charging fees for their services from their clients. They get paid a percentage of the money transacted after the property is sold or bought. Their commissions are split up between both the buyer agent and the seller agent once a transaction is completed. The common commission percentage offered in the real estate market is 5% to 6%, even though some agents offer their services at a flat fee rate.