[Hadrian7]

Yes, it is my second post today!

Just wondering if anyone knew of any realtors on this board whose advice and/or service would be recommended?

I'm trying to find a good reliable one and google is just filled to the brim with them.

Thanks.

[logline]

Originally Posted by Hadrian7

Yes, it is my second post today!

Just wondering if anyone knew of any realtors on this board whose advice and/or service would be recommended?

I'm trying to find a good reliable one and google is just filled to the brim with them.

Thanks.

No. There are "allot" on here, but I wouldn't recommend any of them. I know a couple good ones, PM me if interested.

[ScoopLV]

Originally Posted by Hadrian7

Yes, it is my second post today!

Just wondering if anyone knew of any realtors on this board whose advice and/or service would be recommended?

I'm trying to find a good reliable one and google is just filled to the brim with them.

I'm assuming you're a buyer. If you're a seller, much of this doesn't apply.

I would learn as much as I could about the subject before talking to a Realtor. While "a little knowledge can be dangerous," it can also save your bacon. You should at the very least know how HOA's generally operate in Las Vegas -- it would be a real bummer to purchase a property with the goal of renting it out, and then finding out that is forbidden by the HOA. You should know what SIDs and LIDs are, if you're considering a house in one of those neighborhoods.

Find a good new home punch list (also called a punch-out list or a snag list) -- even if you're not looking at new construction. Use this as a checklist when you've narrowed it down to a few houses. There are a LOT of things to check. I don't go house hunting without a small tool kit, which includes a level, a square, a receptacle tester, screwdrivers, an infrared thermometer, tape measure (amazing how far off the MLS listing room dimensions can be -- and always in favor of the seller, it seems). Check EVERYTHING. Don't rely on others to look out for your best interest. You're the one who has to live there after closing. Finding minor problems can help you negotiate price. Finding major problems can save you from major headaches down the road.

EDIT -- Learn how to run your own comps. This can easily be done using Redfin. It won't be quite as accurate as pulling data directly off the MLS, but it's close enough when you're house hunting. If you have a more-or-less decent Realtor, he or she can show you how to do it. Less work for the Realtor, anyway. This can keep you from buying the highest-priced house on the block. Or give you reason to ask, "Why is this house $50K under comps? What's wrong with it?"

It is my experience that Realtors generally know a great deal about a small area of Las Vegas. They also SHOULD know the nuts and bolts of a real estate transaction. (But many of them don't. They just dish that part off to the broker's staff, who handle the closing.)

So they'll often try to steer you to the section of town they're comfortable with -- extolling the virtues of living in this or that particular neighborhood. Even if you'd be better off buying across town.

Then you have the "in a hurry" types who want you to put an offer on something right the @#!& now. The more clients they can turn, the bigger their monthly commission check from their broker.

And the big problem is, you don't know if you have a good Realtor or not until after the deal is done. And keep in mind, if you're a buyer, the Realtor gets a better paycheck if you spend more money, not less. It's a commission model that is not at all good for the buyer. Perhaps you can find a Realtor who will fight tooth and nail for your interests -- a lower purchase price*. But you'll find a lot more who are mostly concerned with depositing commission checks.


* I have a big advantage in that I can bring my mother-in-law to haggle for me. If there was a haggling Olympics she would be the team captain in the 26-Hour Marathon Haggling event. When she learned that Peter Minuit bought the island of Manhattan for $24 worth of beads and tools, her only comment was, "What an amateur!"


EDIT -- There are also some common scams to watch out for. If you put an offer in on a foreclosure that's been languishing on the market for three years, the bank will come back and say they're in a "multi-offer" situation. They just want to see if you'll panic and up your offer. Keep calm and carry on. There are LOTS of houses in Las Vegas. Buy with your head, not with your heart.

[Hadrian7]

All very salient points Scoop. I am a buyer and have been looking at a few areas, but figured I would need to get a realtor sooner rather later. I've got a list that we are winnowing down right now. Has Summerlin, Anthem, Henderson, and parts of the SW and NW on there. We just need to find someone we can trust to look at things and arrow it down further before we come down for a week long visit.

[ScoopLV]

Originally Posted by Hadrian7

All very salient points Scoop. I am a buyer and have been looking at a few areas, but figured I would need to get a realtor sooner rather later. I've got a list that we are winnowing down right now. Has Summerlin, Anthem, Henderson, and parts of the SW and NW on there. We just need to find someone we can trust to look at things and arrow it down further before we come down for a week long visit.

I don't trust people very much in general. And even less in Las Vegas. And even less still when it involves large amounts of money.

The more you do on your own, the better off you will be in the long run. I would consider a week-long visit to be a "scouting mission" more than anything else. I think you'd be better served driving around town and seeing what the various sections of town have to offer. No point dragging a Realtor in at this point -- he or she would likely just be a free taxi service, anyway. There will be plenty of open houses to check out on any given weekend, just so you can get a feel for what the market is like.

Since most of your neighborhoods are on the West side, I'd be sure to stay on the West side -- at Red Rock Casino, or someplace near there. Don't stay on the strip. And do yourself a favor and go to some grocery stores and other stores while you're there. The less time you spend in the casinos on your scouting mission, the better.

And keep in mind, house prices are still falling. They're not plummeting like they did a few years ago, but it's still a slow but steady drop. Add to that fact that new houses go on the market at a breakneck pace. If you miss out on one opportunity, no biggie. A better deal will come along without fail.

One last thing I'd do is to write down everything your ideal house includes. Be as detailed as possible: Frank Lloyd Wright design, 12,000 sqft, on a 10-acre lot with mature cactus garden, conservatory with 18-foot ceilings, swimming pool shaped like a gigantic clam, rooftop observatory, strip view, bordering a Robert Trent Jones golf course, aviary, stables for 20 horses, etc. (Yes, all of that is silly. But be DETAILED.) Share that here if you'd like. Include a price you'd like to stay under. You'd be surprised how much you can find out here. Might be your dream house is for sale next door to one of us.

[HSV2LAS]

Originally Posted by ScoopLV

: Frank Lloyd Wright design, 12,000 sqft, on a 10-acre lot with mature cactus garden, conservatory with 18-foot ceilings, swimming pool shaped like a gigantic clam, rooftop observatory, strip view, bordering a Robert Trent Jones golf course, aviary, stables for 20 horses, etc. (Yes, all of that is silly. But be DETAILED.) Share that here if you'd like. Include a price you'd like to stay under. You'd be surprised how much you can find out here. Might be your dream house is for sale next door to one of us.

Scoop - you really know your architecture - glad to see someone who knows their stuff and all the good golfing too. I might need your expertise in couple weeks should I get a job offer in LV.

[ScoopLV]

Originally Posted by HSV2LAS

Scoop - you really know your architecture - glad to see someone who knows their stuff and all the good golfing too. I might need your expertise in couple weeks should I get a job offer in LV.

Actually, I don't golf. But I do like architecture. (And three of the bizarre things I included in my little "wish list" are features of our house. I'll let which three be forever a mystery. Well, OK, everyone knows I have a killer strip view. I've posted the pictures. The other two, though, are forever mysteries.)

[HSV2LAS]

Originally Posted by ScoopLV

Actually, I don't golf. But I do like architecture. (And three of the bizarre things I included in my little "wish list" are features of our house. I'll let which three be forever a mystery. Well, OK, everyone knows I have a killer strip view. I've posted the pictures. The other two, though, are forever mysteries.)

Check your PM - I have golfed most of the RTJ courses in BAMA.

[TPC2]

Interesting thread:
Logine-> can I PM you for the names of realiable realtors??

I know where I want to buy, what's important to me, what my top dollar is etc. I'll be paying cash.

BUT do not know the process in Las Vegas and don't want to be led in the wrong direction. Also need a realtor who can recommend honest inspectors (no laughing please).

If anyone else can tell me how to determine if a realtor knows "their stuff" and is honest and reliable I'd appreciate it.

Do wish OleCapt was still here :-(

Thanks,
Pam

[NoMoreRJ]

If you are not in Las Vegas at the moment, I would consider emailing a bunch of RE agents you get recommendations from. And before your visit, email them and ask them some questions to verify that they know what they are talking about or are willing to spend the time and energy to become your agent. Don't sign anything related to exclusive RE agent until you meet with them and they seem trustworthy and you can work well together.
ANYONE with a license can show you a home, anyone with a license can write an offer for a house, not everyone with a license knows how to buy and sell homes properly. Properly = with no mistakes as a pro and listening to the clients wishes and requests. Weed out anyone who doesn't know how to write complete sentences in the running for an agent. YES YOU HEARD ME.