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Las Vegas real estate - 2 ways to buy ... AND THE SMART WAYMost Las Vegas real estate for sale is listed on the Multiple Listing Service (MLS). That is to say, the owner has chosen to list the property with a professional real estate agent. That agent in turn agrees to cooperate with all other licensed agents and will split the commission with any agent who finds a buyer for the property. In other words, when you buy a home that has been listed, you will be dealing with either the listing agent or a buyer's agent. You might also deal directly with the owner in a for sale by owner (FSBO pronounced fizbow) situation. Most FSBO sellers have decided that they want to save paying a commission. That would be fine if they planned on passing on the savings to the buyer but that is seldom the case. If the seller were willing to part with 5-6% of the selling price, why wouldn't he hire professionals? A real estate transaction is a sophisticated procedure that requires professional representation for both the buyer and seller. After a few failed attempts, most FSBOs become MLS listings. It's natural to begin your search for a home by reading the classified ads in the weekend newspaper and, if you like pictures, there are a variety of free real estate magazines at the entrance to most Las Vegas grocery stores. Knowledge is power, and you can get a good sense of the local market and price ranges by reading these publications. However, when you start phoning the numbers in the ads, you will find that you are talking to Listing Agents. These are people who have been hired by the seller and are duty bound to get the best possible deal for the seller. Besides, if they sell you the home they will not have to split the commission with another agent! Guess which homes they will tend to "push". You will also find that these agents are reluctant to give you information over the phone and generally insist that you leave your phone number. They want you to become their client. They should disclose their relationship to the seller right from the start but seldom do until much later. Dealing with listing agents is not recommended. When such a large amount of money is involved, you deserve the best possible representation. A Buyers Agent, one who represents your best interests, has no vested interest any listings. This agent will earn the same commission split regardless of the listing company, listing agent or any other factor. As a member of the Greater Las Vegas Association of Realtors and the MLS system, he has access to all available listings. Working with this type of agent is easy. We start by choosing your criteria for a new home. What area of town is suitable, what price range is comfortable... how many bedrooms etc. From the initial search for a home through to taking possession, a buyer's agent works with you all the way. For completely professional and confidential representation call me today. |
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