Las Vegas Consumers Leary About Their Real Estate Agents

Saturday, 10 November 2012

Consumers are sounding off about their past experiences with their real estate agents throughout the country and in the Las Vegas real estate community. It would seem that the general public is not happy with the performance or guidance given by their Realtors and most compare them to used car salesman. We at MyGoRealty.Net want to offer you some of our opinions to this problem affecting consumers from Las Vegas to New York.

One of the primary complaints for consumers wishing to purchase Las Vegas Real Estate was a conflict of interest if their real estate agent whether in Las Vegas or elsewhere was representing them as a buyers agent but being paid by the seller. The complaint stems from the understanding by the buyer that if the Realtor was being paid by the seller, what reason did the real estate agents have to protect their interest as a buyer.

In Las Vegas all real estate agents are required to disclose whom they represent, this agency disclosure is there for the purpose of allowing the buyer, seller and prospective agents to understand whom is representing whom.

To take this one step further, if you as a consumer are leary about your Las Vegas Real Estate agent receiving compensation from the seller, you can elect to pay these fees yourself. This might serve you in two ways when buying a home in Las Vegas. First this would allow you to negotiate this cost from the real estate listing price of this Las Vegas home. The second benefit would be securing piece of mind knowing that this Las Vegas Realtor that you are paying is going to represent your best interest. This also gives you a bargaining chip with your Realtor. The real estate agent will understand since you are paying the fees, they must know that if you are not satisfied with their level of service or knowledge, you will fire them and find another Realtor to pay this fee to, not to mention the extra legal ramifications this real estate agent will be accepting with you paying the fees.

Another common complaint about real estate agents is that they don't possess adequate knowledge about all factors related to determine a homes value. One consumer even stated that Realtors are not the brightest bulbs. Because of these perceptions, consumer's dont feel real estate agents earn their commissions.
I must agree with this statement as most agents in Las Vegas have very little knowledge much less understand there are more factors to determine a homes value than a comparative market analysis. Las Vegas as within any other city, you must understand that a homes value requires you to consider, job growth, economics, political decisions, population statistics, income projections and building cost to just name a few. We offer our clients a free instant real estate value checker called My Neighborhood Values which calculates some of these factors transformed into mathematical figures into its value algorithm.

With the past explosion of the Las Vegas Real Estate market more and more people are acquiring their real estate license. The problem we see with this is most of these individuals don't understand that the real estate profession is a full time job. They don't familiarize themselves or keep updated on an every changing market such as Las Vegas. Most of these agents get into the business for the money and forget that even though this industry pays well, it requires a lot of dedication, knowledge to remain successful and the ability to put your Las Vegas clients before yourself.

As a consumer the most important decision you will make when purchasing a home is selecting a real estate agent. Always make sure this agent is familiar with the areas you are considering. Make sure your real estate agents knowledge goes beyond that of typical agents. Be aware that no matter whom you select to represent you in Las Vegas, no one can better advise or prepare you for the issues that may lay ahead, than yourself.