SEEKING A BEST APPROACH TO YOUR LAS VEGAS HOME FOR SALE SEARCH
If you had to characterize the way future homeowners approach how they find their next home for sale, you’d likely say that they fall into a couple of major categories. Both approaches work: which is better is really about the way you tend to tackle any problem. But if I had to choose, there is one approach I’d have to say is superior. The first approach is to dig right into it. You call up the Las Vegas REALTOR® to discuss the state of the market, lay out your goals and ideas, and listen to what is proposed as the next step. If what you hear sounds good, you give the thumbs-up, and—voila!—it’s underway! Taking this approach, you let the pro ask the questions that she or his experience dictates. Fine points not covered initially will come up as the process narrows. This is an approach that certainly makes sense—after all, who knows better what details are most important as you begin your house hunt? Most people find themselves searching for a home for sale only once in a blue moon. The real estate pros are at it daily. Plus, we know the current Las Vegas inventory: homes that are currently on the market (and often, some that will be coming on before long). If there is a Las Vegas home for sale that fits your criteria but which is likely to be gone soon, a showing can be arranged at once. Especially for those whose time is at a premium, this approach is efficient. The other approach is for those who naturally gravitate to a more ‘hands-on’ plan of attack. This is automatically adopted by people who are more comfortable after they’ve prepared as much as possible. They want to familiarize themselves with the state of the market and everything that’s currently affecting it. They will almost certainly have been online for a while, have examined the listing details for relevant current homes for sale in Las Vegas, and possibly even dropped in on some weekend open houses. When they do contact their Las Vegas REALTOR, they know pretty much the direction their house hunting project should be pointing toward. Which approach is better? Which one is more likely to find your dream house? (I bet you know that’s a rhetorical question.) The safe answer is that the best approach is a level-headed combination of the two. For people in the first group, taking a look at the online listings to get a feel for the homes for sale in Las Vegas is an incredibly effortless and efficient way to get an instant overview of what’s out there (and at what cost). For the second group, likewise: it’s no longer necessary to spend hours or days preparing a detailed wish list of must-have and nearly must-have and would-be-nice property feature alternatives. Point your agent at an MLS listing or two for any Las Vegas homes for sale that seem interesting, and you’ll receive back a list of serious candidate properties to take a look at—followed by a proposed in-person home tour agenda. Well—at least that’s what will happen if ‘your’ agent happens to be me…so let’s have a chat!
YOUR LAS VEGAS REAL ESTATE AGENT AND THE ELEMENT OF RISK
The relationship between you and your Las Vegas real estate agent is unlike most working relationships people establish—and understanding why the difference is important can be useful when you go to buy or sell a Las Vegas property. For openers, working with a Las Vegas real estate agent is a hybrid kind of situation. Although you do ‘hire’ your agent—and that agent is “working for you”—there is also an element of partnership involved. This is no mere technical abstraction. If you have ever run any kind of business, you know the difference between having an employee and having a partner. A good employee performs the tasks assigned, is compensated in accordance with that performance, and goes home at the end of the day to enjoy the fruits of their labor. A partner, on the other hand, does everything that an employee does, but a lot more, too. For one thing, a partner usually has ‘skin in the game’—has accepted some of the risks that every private enterprise involves. As compensation, a partner looks forward to a share of the profits should the business succeed. Although an employee may be paid on a commission basis, there is a difference: unlike most partners, an employee is subject to no investment expense or downside risk. Naturally, adding an ownership element makes a difference in performance—in going the extra mile. That distinction is ruefully captured in the timeworn observation that if you see someone bending over to pick up a gum wrapper in front of a shop, you’re looking at the owner! Your Las Vegas real estate agent has a similar motivation. If you are selling your home, you certainly have a lot of skin in the game! It’s your property that’s up for sale, and your investment in it is major. Your agent will be co-venturing in the sale—not only contributing the time and effort that’s required but also accepting the risk of your mutual sales enterprise. When you think about it, you stand to benefit from the significant ongoing cost of operating a busy real estate office, developing and distributing marketing materials, advertising your home, and putting in as many hours of work as it takes to complete the sale. It’s your ‘partner’ (the agent and the agent’s broker) who will bear those expenses. If you are going to buy a home, the relationship is similar. Whether in the office or out on the road, your Las Vegas real estate agent will absorb the cost incurred in helping you seek your next home. If a sale doesn’t come to pass for any reason, your ‘partner’ agent accepts the risk that there won’t be a payday at all. It’s a powerful motivation to work hard on your behalf. The unique nature of the relationship you step into when you team with a real estate agent in Las Vegas is one that’s developed over centuries. For your agent, in addition to the degree of independence that’s built in, there’s one extra benefit that has a value beyond money. At the end of the day, it’s the reward of seeing a client’s family moving into their new home or be handed the buyer’s check at the final closing. Feeling the glow of having helped make that kind of major difference is truly priceless!
ENDING THE DEBATE ABOUT ENTERING THE LAS VEGAS LISTINGS IN WINTER
If you intend on listing your Las Vegas home sometime soon, this is the time of year when you may well be uncertain about whether you should go ahead right now, or hold fire and wait. The question is whether winter is a reasonable time to enter the Las Vegas listings when, after all, it’s common knowledge that spring and summer are the most active real estate seasons. Is that fact alone reason enough for not listing now? I happen to know the answer (it’s “maybe”). But since that’s only my opinion, in the interest of including a wider sampling of opinion, here are some experts’ ideas gleaned from extensive research on the subject. (Okay—there are 155,000,000 Google entries for ‘should I list my house in the winter’, but this research only took about five minutes): • From some sources: yes (“Homes listed in winter sell faster–46 days vs 55 days”—Redfin). • From the other sources (especially when you ask in spring): no. As is clear from that extensive research, expert opinions are divided, probably based on when you’re asking. If you come to the conclusion that no conclusion is likely to be valid, I share that. But that doesn’t mean you have no basis for making your own decision. Here is why ‘maybe’ is not just a correct answer—it’s also a helpful one. The fact is that winter (actually, fall and winter) seasons when the number of buyers drops off, which results in fewer total sales. The same fact creates an atmosphere that causes fewer sellers to decide to enter the Las Vegas listings. In fact, some sellers who have had properties on the market actively withdraw them from the listings, figuring that they might as well wait until spring to reintroduce them. Fewer properties for sale also means that buyers see less variety available, so some of them also decide (you guessed it) to give up the search until spring. If this sounds like a vicious circle, it is. But there is also a counter fact that’s easily overlooked. Those who begin house hunting at this time of year are more likely to be more determined to find a home, pronto. Those who are doing their real estate scouting amid all the holiday hustle and bustle are likely to be responding to some kind of time pressure. And from the sellers’ standpoint, there are fewer Las Vegas listings— thus less competition. Serious buyers …less competition… EUREKA! So winter is the best time to list a Las Vegas property, right? No. The answer is still ‘maybe.’ The reason has to do with your own individual situation. Because there are fewer buyers actively looking, there is a lesser likelihood that THE buyer will find his way to your door. The one who appreciates your home enough to snap it up is more likely to be shopping when there are more shoppers. Other cautions have to do with whether you are willing to put your home into top shape for sale in winter weather—as well as being willing to be ready for showings during the holiday season. The bottom line is if time is a factor—and you have reason to want to sell now rather than at some time in the future, this winter is the right time to enter the Las Vegas listings. If there is no pressing reason why it’s important sell as soon as possible, you could as easily hold fire until later.That’s why ‘maybe’ is as valid an answer as you are likely to get. And no matter how you decide, when you are ready to sell (actually, a bit before you’re ready) it’s definitively the right time to give me a call!
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