Las Vegas Real Estate Blog

In times of frequent headlines like "Where to Find Million-Dollar Foreclosures" real estate agents find clients on both the buying side and the selling side hedging and indecisive. Realtor Magazine outlines 5 reasons clients won't move forward - and how to respond.

1. No Money
   When buyers are hesitant there may be issues with money. On the other hand the client may have trust issues with the agent and may need to be taken care of with business relationship building activities (i.e. dinner at a nice restaurant, etc.)
2. No Need
   If a seller resists claiming no need to sell, agents need to flush out real motivation. Every home is for sale for the right price but if that price is higher than the market will bare then an agent simply wastes time. If a seller has put their home on the market it's obvious they have some intention of selling. It's important to get down to the real issues if the client is reluctant to move forward.
3. No Desire
   A buyer may be in the perfect position to buy and actually need a home. Their personal life (i.e. divorce, etc.) can affect their timing. Again, it's important to get down to the root motivations and issues.
4. No Time
   Some clients may throw out the "I work 24-hours per day" comment. They may have issues with agents who "just want the commission". Again, the real issue is trust. Clients need to trust their agent and feel they are not in it for money.
5. No Trust
   It takes time to build a relationship of trust with a client. Real estate agents should spend the necessary time to develop that trust. Clients will work with and listen to the professional advice of a Realtor who they can rely on to take care of their needs.

Las Vegas was one of a recent report of the nations fastest growing cities. It has been for a number of years now. A higher than average job market, unlimited recreational options, and great housing draw newcomers whether they are purchasing a home or renting. Residents are also enjoy great weather and the cultural atmosphere.

The city has performed incredibly in recent years. Even amid the national mortgage crisis, homes have been selling. The prices have corrected due to inflated values from the boom (like the prices in other markets) but analysts continue to predict substantial growth in coming years.

There are indicators to watch for that suggest a market pickup. Las Vegas Realtors watch for these things, as outlined in Realtor Magazine:

1. New Jobs vs. New Housing - Historically, one new hom owner is created for every two new jobs. If there are more jobs being created and builders are not building as fast the supply/demand curve will adjust in response.
2. Fewer Builder Concessions - As builders become more confident they will give less to entice a buyer.
3. Months' Supply - Look at how many month's supply your market has. If that threshold is reached then the market has picked up.
4. Visitors per Listing - By tracking MLS lockbox stats one can tell if buyers are more serious if there are more visits for longer periods.
5. Rising Apartment Rents - When rents get too high buyers would prefer to own.

If you are interested in the Las Vegas market you'll want to contact a professional to help you understand the current market.

The next series of blog posts reflect a recent article in Realtor® Magazine, "Your Handbook for Success". It consists of 165 tips for succeeding as a Realtor®. The posts will be written from the point of view of a Las Vegas Realtor®.

The opening line: "Regardless of what the pundits say about the market today, you can achieve sales success. Make your sales goals, stay on top of the market trends, be straightforward with prospective buyers and sellers, and keep your own negative emotions in check."

Las Vegas real estate has been in the news frequently in recent months. It has been touted as a struggling market. Interestingly, buyers and investors had better keep their eyes on the future Las Vegas home buying market. It is showing the signs of significant growth through the selling summer season.

The key to selling a home right now is to price a home correctly. A good real estate agent will help sellers understand the market. Tips for agents:

• Look at Pending Contracts - Considerable weight should be given to pending sales, even more so than those that have sold.
• Don't Take the Heat for the Market - The market will determine the final selling price. Agents should not take responsibility for the market conditions.
• Creating Value is Key - The home has to be priced so that it's considered by buyers to be within the top two or three values in that price range.
• Time for an Adjustment - Industry standards suggest that if an offer hasn't been made after 8 to 10 showings a price adjustment is necessary.
• Have Your Seller Sign a Price Reduction Form in Advance - A form should be signed and a date set ahead of time. If a reduction is needed before hand then do it.
• Forget About "Price Reduction" Signs - Such riders tell potential buyers the home is failing to sell.
• It's OK to Fire a Seller! - If a seller is unwilling to recognize the market trends you will continue to invest time and money into the marketing of the home with no opportunity for it to sell. Serious real estate pros will take a hard look at their success ratios. If a seller will affect that ratio from the start, let them know you won't represent them. Be professional and be serious about it.

Next article: "Signs the Las Vegas Housing Market will Pickup"

New comers to Las Vegas find wonderful homes that fit their needs. As they move to Las Vegas they also find a place that fits their lifestyle. They research great communities and make a home out of great living opportunities. These communities offer amenities and features that provide comfort and accessibility. They live close to work, play, church, family, friends, and/or schools. It doesn't take long before people become accustomed to the climate, culture, and city. They find joy in calling Las Vegas their home.

Single women have become more active in the Las Vegas real estate scene. They are second only to couples in homes purchased. As non-traditional buyers they have been able to find programs that fit their needs. According to the article women have typically been the strongest influence in a home buying decision and now are purchasing on their own.

They tend to look for great neighborhoods and security. Single moms may seek out play amenities and safety. Some seek out low maintenance homes and efficient layouts and space usage.

While Las Vegas Realtors or home builders must be careful not to discriminate, it is important to understand the needs of potential clients. As single women enter the market, just as any other demographic, it's important to take time to find the right property for them.

As a Las Vegas real estate agent and Las Vegas Realtor®, Darren Hildreth successfully guides and aids home sellers, home buyers, and investors to reach their property and investment goals in Southern Nevada. Darren, a founder of the Hildreth Barnhill team, works tightly with the broker of Specialists Real Estate located in Summerlin.

Darren has been involved in real estate and business negotiations for years. He has owned investment properties and negotiated other business ventures. He loves the intrinsic value in real property and the science involved in arranging a solid deal. His family has developed land, built homes, and owned rental properties for decades. He realizes his clients will use him over and over again because they are treated with honesty and integrity.

The GLVAR posted an article to those considering becoming an agent. They claim there is a considerable sacrifice in time and for most the pay is not significant.

"...According to the Department of Labor, the median income for a real estate agent is about $39,760 per year, as of May 2006. The middle 50 percent earn between $26,790 and $65,270 annually, and the top 10 percent earn around $111,500 per year...Of course, superstar agents can earn several times that top number."

Last weekend Las Vegas rooted UNLV took it to the MWC. Residents and visitors alike witnessed an exciting exhibition as the Runnin' Rebels overcame their components with an usual style. They'll move on to the NCAA tournament as number 8 seed. They'll play Kent St. and then the winner of Kansas and Portland St.

UNLV sports draws an exciting and energetic crowd in a sea of red and white. Welcome to fabulous Las Vegas entertainment!

Selling a home in Las Vegas requires some skill and dedication. The Las Vegas Review Journal suggests contacting a real estate professional or Realtor® to help determine the value when selling a home. Many areas feature homes of varied values and determining that amount can be the difference between selling a home for too little, not selling it at all, or selling it at the correct market value. It is the market that determines the value of the home, not an appraiser or home owner. If the home is over valued it will simply not sell. If it is under valued it will sell quickly but cash is left on the table.

The best way to value a home is to have a skilled real estate agent prepare a CMA using the GLVAR MLS search system. The system tracks homes for sale and homes sold. Competent Las Vegas Realtors® can pull the appropriate stats and compile them into a report with a strong recommended selling strategy. Sellers who use agents are much more likely to sell their home and will sell it for a considerable amount more. In fact, even though a sell pays an agent they typically make out better than if they sell for sale by owner. If you are planning to sell contact an agent today to prepare the best strategy.