'It is one of those huge businesses...where we all still tend to pay 6% commission when we transact houses,' said co-founder and Chief Executive Richard Barton. 'It looks a little strange and we're trying to figure out why.'
Still in stealth mode, Zillow is keeping quiet about its business model; the company's Web site won't go live for several months.
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Although there are plenty of benefits of buying new homes, there are also some drawbacks. New construction homes sometimes sit on smaller-sized lots compared to older homes. Older lot sizes in Charleston are typically about 1/3 of an acre, while newer lots are generally ¼ of an acre. These averages vary according to area, and you’ll find larger lots in general in areas that are farther out in Charleston. Another drawback of pre-construction homes is that you don’t have a definite closing date. Due to weather and building permits, the builders don’t always close on time. For more details visit us at Conveyancing.
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