[lsm19]

Hey Y’all! This is my first post so please bear with me. I’ve read many of the relocation posts and they’ve been very helpful. I haven’t seen the answer to this question so please weigh in with your thoughts.
When buying a home in LV, do we need our own realtor? Do you only need a realtor if you’re buying an existing home? We will be looking at both new construction and existing homes in the NW and Summerlin adjacent areas. DH is not in favor of using a realtor stating he'll be “in and out” and “can check on everything. ” I’m thinking we need to have someone looking out for our interests as we will be long distance for a while.
Is bringing in our own realtor viewed negatively by builders? How do we find an agent we like and trust?

[SportyandMisty]

Do you NEED a realtor? No. I do not believe there is any legal requirement for one. Nor is there a legal requirement for, say, a real estate attorney.

I wouldn't buy a house without a real estate agent. In general, the seller compensates the buyer's real estate agent, so you won't see an out-of-pocket cost. I don't see a downside to having a competent agent represent you.

[ddrhazy]

If you feel like you know the market well enough and you know the entire process of enacting a purchase agreement without a realtor, by all means.

[Cold Warrior]

Originally Posted by ddrhazy

If you feel like you know the market well enough and you know the entire process of enacting a purchase agreement without a realtor, by all means.

Yes, but of course you don't.

[foundapeanut]

I would use one. But many agents here are awful. They are uneducated and the biggest group of liars I have ever met. The better ones will do a background check on you before taking you on. Lots of liar buyers too.

And you are thinking a new construction? Many tract builders who have been kicked out of other states are building here.

If you are building an expensive home, get it structurally checked often. Been there. I would not build unless I was in town and went and checked on the house every day. Again been there.

Vegas and builders are an experience you probably haven't experienced in other states. Surprised the heck out of us!

[SportyandMisty]

Originally Posted by foundapeanut

But many agents here are awful. They are uneducated and the biggest group of liars I have ever met.

Don't hold back, foundapeanut; tell us how you really feel.

[jet757f]

If you decide to buy a new home you do not need a real estate agent. Just be sure to research the areas before you look at new homes.

Even if you buy a resale you should research the areas. Some of the agents might steer you the wrong direction. I thought Witney Ranch was great until I saw that it was right under the approach path for McCarran airport. The agent told me that I would get used to it. Yea right!!

I did a lot of my research off Redfin and Realtor.com and then drove out to the houses myself. The ones that I liked I would get a hold of an agent to look at them.

[ddrhazy]

You might be able to negotiate a cheaper price if buying new from a builder since they don't have to give commission to a buyer's agent. A nice option is that you can have your home inspector check out the property during each phase of the build.

[lvmensch]

It is a tricky question. New home sales are wired to favor the builder and there is virtually nothing that an agent or a buyer can do about it. The refusal to consider any modification to the buyer's contract is virtually universal. So agent or attorney the option is to not buy. You are not going to change the contract.

And make no mistake. New build is still a terrible deal. You are out something like 15% on the buy and then have 10 or 15% more to pay to get the place livable. So you are down 20 or 25% at day zero. Break even in five years if you are lucky.

Use of an agent is generally low cost on a new build. And it does help. Agents who have done a few have some understanding of what can be gotten out of the builder. And in general builders pay buyer's agent out of their marketing budget. So the bag you get a discount for not having one is mostly a put on. They also are better at harassing a builder into doing what he agreed to than most civilians would be.

If however one has a done a dozen or so transactions or were in the business or such you don't need an agent. It is really protection against being taken advantage of...and perhaps some help in getting things done correctly and timely.

[foundapeanut]

Originally Posted by SportyandMisty

Don't hold back, foundapeanut; tell us how you really feel.

First hand knowledge. Oh the stories I could tell. They did me a favor and drove me out of mortgage banking 30+ years ago. I couldn't take it anymore and thought I work with these people eventually I could also lose my morals, ethics and integrity.

Best agent in town died last year She I could trust. Her former partner is a slime bag, heard of recent situations he's pulled.