[LarryNJ]

Any property seller who does not like to deal with an Agent has the option of getting their own real estate license and transacting themselves. I did it when I lived in LA and sold my home there, and I didn't think it was any major undertaking.
I also utilized it to work with a contractor I knew (when times were GOOD in RE) and together we did a few developments in Mar Vista and West LA. To say the results were profitable for me then would be an understatement.

Just my .02. As for this thread's main topic- I have no intent of selling in the near future and I'm not licensed in NV and- Real Estate is not my chosen profession by a long shot anyway.
Where the market goes is dependent on so many factoes, especially now, that to suggest that anything is other than an educated guess is presumptuous I think.

We're all entitled to opinions, but as is said- "We all have one and....."

[ddrhazy]

You don't even need a license. You can do for sale buy owner and put your property on redfin/zillow and make a go of it from there.

Good luck in the negotiating process though. Some people can do it, many others can't. When you're talking about an asset that is six to seven figures in value, having it done by a professional makes sense.

[ddrhazy]

Originally Posted by Dom Cobb

I think we are going to see more consolidation of the real estate market in the coming year. Traditional brokers who charge 3% list and 3% to the buyer broker are going to be facing serious revenue shortfalls since the volume and quantity of property is going to decline over the next year or two. The Compass, Redfin and other ibuyer models are putting additional pressure, but I do see a market growing for flat fee services for selling, the problem is that the buyer brokers who won’t show properties unless they get the 3%, but even that will be a challenge since many people do their own searching and want to see a property regardless. However, there are likely some buyer brokers who would steer their clients away from such properties as it would impact their commission.

Like any industry, there are good and bad performers. I do see the good ones holding on and maintaining their business, as they show their value - in some cases a good realtor can help.

Agreed that commission structure makes little sense now that everything is digitized and information is much more ubiquitous and attainable. Prices of homes have increased but commissions % have stayed the same - which makes little sense.

If prices go down, that will probably not happen. Lower commission percentages are more likely in more expensive metros. Had a purchase a few years back where the seller's agent got only 2% and they just listed the property and did the least amount of work possible. It caused a lot of headaches on my end as the buyer as well.

You get what you pay for.

[Dom Cobb]

Originally Posted by LarryNJ

Any property seller who does not like to deal with an Agent has the option of getting their own real estate license and transacting themselves. I did it when I lived in LA and sold my home there, and I didn't think it was any major undertaking.
I also utilized it to work with a contractor I knew (when times were GOOD in RE) and together we did a few developments in Mar Vista and West LA. To say the results were profitable for me then would be an understatement.

Just my .02. As for this thread's main topic- I have no intent of selling in the near future and I'm not licensed in NV and- Real Estate is not my chosen profession by a long shot anyway.
Where the market goes is dependent on so many factoes, especially now, that to suggest that anything is other than an educated guess is presumptuous I think.

We're all entitled to opinions, but as is said- "We all have one and....."

Very sound, we are all unsure of what’s going to happen and given the fact that we are adding a pandemic that has thrown our lives into turmoil adds fuel to the uncertainty. You can make cases for and against an outcome that is positive or negative. The truth is we have never been in this position before and using historical models does not apply to a certain extent.

I hope as a country we can recover as quickly as possible economically and hope that the fewest amount of people get sick and/or die.

[LarryNJ]

Originally Posted by ddrhazy

You don't even need a license. You can do for sale buy owner and put your property on redfin/zillow and make a go of it from there.

Good luck in the negotiating process though. Some people can do it, many others can't. When you're talking about an asset that is six to seven figures in value, having it done by a professional makes sense.

All the better, then I guess. However there is still the processes of escrow, etc. wherein having gone through the regimen of obtaining a license is very beneficial.

And negotiations- depends on the time and the property- I worked before the bust when a soup can in Los Angeles could be sold the same day as listed for 550K (Kidding, but you get the drift if you remember the good ole days).

Today, its a different story for a plethora of reasons, and whether its a buyers or sellers market is dependent on a lot of variables.

[LarryNJ]

Originally Posted by Dom Cobb

Very sound, we are all unsure of what’s going to happen and given the fact that we are adding a pandemic that has thrown our lives into turmoil adds fuel to the uncertainty. You can make cases for and against an outcome that is positive or negative. The truth is we have never been in this position before and using historical models does not apply to a certain extent.

I hope as a country we can recover as quickly as possible economically and hope that the fewest amount of people get sick and/or die.

So true what you say, and we all hope (Buyers, Sellers, Speculators, Investors, Scoundrel alike)) that this
pandemic can be eliminated for good.

[Firsname Lastname]

Originally Posted by WisconsinVegasHeights

I was able to lock in my rent until 08-2021. Makes me wonder if I should have negotiated a reduction.

I read normally rents go up 6 or 7 percent which is a lot in my opinion.

You have to compare the rent increase to the inflation rate.

Currently, inflation is somewhere between -2% and 0% — which is to say we have very modest DEflation.

If it were me, I would have asked for a rent reduction.

[longviewJoe]

Originally Posted by Firsname Lastname

You have to compare the rent increase to the inflation rate.

Currently, inflation is somewhere between -2% and 0% — which is to say we have very modest DEflation.

If it were me, I would have asked for a rent reduction.

I think it depends. There is a lot to be said, like most relationships, for keeping a positive relationship between landlord and tenant. Sure maybe you want to avoid a big rent increase as the tenant but I don't think there is anything, I have seen, which indicates rents are going down. If anything rents have been pretty steadily going up. Also, do specific research on zillow and rentometer to get an idea of what your property should rent for. You might find you are paying undermarket. Lots of variables.

[airics]

Originally Posted by Firsname Lastname

You have to compare the rent increase to the inflation rate.

Currently, inflation is somewhere between -2% and 0% — which is to say we have very modest DEflation.

If it were me, I would have asked for a rent reduction.

as long as Californians are moving to Nevada, there won't be any rent reductions.... you could have asked but you would not have received...vegas is too addictive

[ragabnh]

Originally Posted by eventusstultorummagister

https://www.youtube.com/watch?v=PsvXosZMXww


In the crash of 2008, foreclosures did not begin until 2009, then it took another 3 years for prices to hit bottom.

I trust the realtor in the video, the rest on this board not so much.