When a Realtor's Greed Gets in the Way

I have the highest regard for most of my fellow Realtors. They are some of the hardest working (and most under-appreciated) people I know. But I have a real problem when a Realtor’s greed gets in the way of the client’s best interest. Those are the agents that give the rest of us a bad name.


I got a call a couple of days ago from a Michael in Miami. His client had seen a listing on my site, and he asked Michael to check into it for him as Michael had been his agent in Miami on other transactions. But Michael wanted the selling agent’s complete commission, not just a referral fee. He said he had an agent that worked with him who was also licensed in Nevada. I asked Michael if the agent was part of our Las Vegas MLS – no, the agent was just a Nevada licensee, had no MLS access and was not even in Nevada. He would not be able to show property, write up a contract, negotiate or perform normal duties as the buyer’s agent.

I explained to Michael that in order to get the best deal for the client we looked at ALL real estate listings in our MLS, not just our own. We could not pay him the entire selling agent’s commission, but would be delighted to pay him the usual 25% referral fee. But Michael was not interested in that – he was only interested in getting a full 3% on anything his client bought and couldn’t understand why we wouldn’t just show his client only our own listings so he could get paid more.

How sad is it that this client has put his entire trust in Michael and Michael is only interested in his own bottom line? We regularly refer our Las Vegas clients to out of state agents, and we go the extra mile to personally interview the agents first before making the referral. I don’t care what company the agent works for – I just want to know that my client gets THE best agent I can find.

I just referred a client last week to an agent in Big Bear – this client had tried to find an agent on her own and was NOT happy with her selection. So my client contacted me and I called around until I found someone I felt comfortable with. And my client absolutely ADORED the agent I found for her - thanks, Maureen at RE/MAX Big Bear! The client is elated because she got a great agent who found her a dynamite deal on a bank foreclosure, Maureen is happy because she got a great client, and I am thrilled that my loyal client is so satisfied.

This is a true win/win situation and the way every transaction should be. I hope Michael is reading this - it’s not just about the money, Michael.

New Homes in Las Vegas Under $70 per foot!

Who says you can’t buy brand new homes in Las Vegas under $70 per foot?! We get inquiries all the time from investors who are looking to purchase “fixer uppers” in this price per foot range. True, you can get more slightly square footage for a slightly lower price on resale homes that need some cosmetic help, but once you put the pencil to the paper, new homes can turn out to be a better value.


For example, take a typical 1000 square foot home for sale (built since the year 2000 to compare apples to apples) that just needs carpet, paint, and other minor TLC priced at $50 per foot. (Usually the landscaping on even cosmetic fixers is also dead, but since you have to put in landscaping on a new home, we will call that a draw.) Generally speaking, it will cost about $20k to do a basic rehab on the home without going crazy.

Now the price of that $50 per foot fixer has just gone up to $70 per foot, ($20k divided by 1000 sf = $20 of rehab per foot plus the original $50 per foot purchase price) and the color of cabinets and countertops may not be what you would have chosen for yourself. And since most of the MLS listings in Las Vegas are sold “as is where is” in today’s market, you have no recourse later if you find other problems with the home.

With a brand new home, you get to pick out all the options to suit your taste. Most of the new home builders are offering an astonishing array of “upgrades” included in the base sales price (granite counters, etc.) that were costly add-ons in previous years. If the home hasn’t been started yet, you can even choose what lot you would like it put on. (Many Las Vegas new home builders are now waiting until the buyer picks the lot to start construction, so this is a very realistic expectation.)

So not only may the cost end up being close to the same as that “fixer” without all the headaches of doing the fixing, but you also get a home with all the new home warranties and latest energy saving technologies in nice new neighborhoods without other fixers down the street.

To view a list of 47 new homes and their floor plans priced at under $70 per foot in the range of $95k to $300k, go to: New Homes Under $70 per foot. Then give us a call at 702-985-7654 to arrange a viewing!

Live Next to Wayne Newton in a Las Vegas Luxury Home!

Great deals on real estate in Las Vegas abound in the custom estate market! Live next to Wayne Newton in a Las Vegas luxury home or buy an incredible golf course estate in the exclusive Spanish Trails Country Club for a song.



The Ultimate Golf Course Estate

 Ultimate one of a kind Santa Barbara style estate spread across four golf course frontage lot compound in prestigious guard gated Spanish Trail community inside a private separately gated enclave. Spectacular resort style grounds & living! Total living space between Main, Garden & Guest house is approx 24,000 SF with 11 bedrooms & 21 bathrooms all on over 1.5 acres. An abundance of room, extensive fine woodwork, chandeliers, custom ceiling treatments, Spanish tile, inlaid wood floors, butler's pantry, wine cellar & living room with built-ins. Multiple terraces & outdoor areas maximize entertainment. Multiple pools, grotto spa, BBQ area, double waterfall, gazebo bar and 2nd floor party area. This is a one of a kind opportunity to own a premier entertainment home in Las Vegas near the Sultan of Brunei’s compound for WAY below today’s market value at only $3.999M!

Read more about it and view more pictures at: 1.5 Acre Spanish Trails Golf Course Estate



Be Wayne Newton's Neighbor!

This unique custom estate in a secluded fourteen home enclave is located in the historic district of south Las Vegas. This is the area that has been home to celebrities like Wayne Newton, Clark Gable, Carole Lombard, Robert Goulet, the Sultan of Brunei and Mike Tyson. The area contains several of Nevada’s most expensive properties, including estates ranging to more than 40 acres, but it is just minutes from the Las Vegas Strip and Downtown. These distinctive homes can best be described as "desert contemporary," with an abundance of water features, waterfalls, rooftop gardens, meditation areas and secluded courtyards that soothe and refresh. The exquisite 8,800 square foot model home won the National Homebuilder's Home of the Year Award for 2009, and integrates such an astounding array of luxury features with smart home technology and solar power, that even the most sophisticated buyers are blown away. Pictures are of the model and builder will make changes to suit your lifestyle. Have it all, including resort style pool and landscape for only $2.64M finished.

Read more about it and view more pictures at: Custom Home next to Wayne Newton's Estate