Industry News grows million-dollar listings

Company reported 57.5% increase in luxury-home customers last year

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Not all moneybag homeowners turn to real estate agents to chauffeur would-be home buyers around their estates. In fact, a significant number of multi-million-dollar homeowners chose to sell their homes without a real estate broker last year, reported today. The company noted a 57.5 percent increase in homes listed for more than $1 million last year. In 2003, 156 homes in that price range listed for sale, up from 99 homes in 2002. is an online marketplace that offers aggregated information, resources and research to those who wish to sell their homes without a broker. "Owners of more expensive homes have much more to lose using a broker," ForSaleByOwner COO Colby Sambrotto said. "As we continue to add more services and offer tailored advice to our customers, upmarket sellers are realizing that there's no reason to share the commission with a real estate agent in home sales transactions." Based on the average commission rate of 6 percent, ...