Selling a House in Nevada
Our local agents are pricing experts, and we understand the climate of the Las Vegas real estate market, as well as how and where we can get away with asking for higher prices on certain properties. Plus, we will do our best to make the entire process a smooth experience every step of the way.
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Pricing and Negotiations
When it comes to listing prices and negotiating them, it’s always better to work with a licensed, experienced real estate agent that understands the market and the current climate. Is it a buyer’s market or seller’s market? Things like this could impact your sale and you might not even know what they mean.
(A buyer’s market means that there are more homes than people who want them, so buyers get better deals. A seller’s market refers to a short supply of homes that can lead to price wars and higher sale prices because buyers are competing.)
Our team will work with you to check market conditions, recent sales in the area, and other information to determine an accurate sale price. We’ll do our best to offer aggressive pricing for a quick sale, but also ensure that you find the right sale.
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Marketing Your Home
When a property goes on the market, it isn’t just going to sell itself. You have to market the home, and while selling your own house is possible, it’s certainly not the easiest when it comes to marketing and getting exposure. Professional real estate buyers agents Henderson NV will be able to advertise your property in all the right places and get the attention that you deserve.
We’ll take the time to advertise your home in all of the right places to ensure that it gets the exposure that it deserves, including taking advantage of our own social media and online resources. Part of what is paid in commissions to the seller’s agent goes toward the marketing of the property.
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How Do I Find The Value Of My Home?
You can’t very well sell your home at a fair and accurate price until you know what the value of your home is. It’d be nice to land the $475,0000 average sale price for your neighborhood, but if your home is outdated or has fewer amenities, it might only be worth $425,000. You have to enter the market at a reasonable price or you’ll immediately turn buyers away from what could be their perfect home.
So, will selling pay off? That depends on several different factors in the real estate industry. Selling could be a good move for anyone who lives in a hot market where there are more buyers than homes for sale– this is where bidding wars and offers higher than the asking price happen. However, even in a “typical” market, you can still sell your home and get the price that you want when you have the right Las Vegas real estate agents on your side.
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Do You Have to Pay Commission if Your Home Doesn’t Sell?
We’re going to talk more about real estate agency commissions at the end of this guide since they mostly pertain to buyers, but this is a big question for a lot of sellers. Do you still pay if your home doesn’t sell?
Most of the time, probably not. These agents get paid when the home sells, after all, so if there’s no sale, there’s no commission. However, it’s important to read the contract that you signed to make sure there aren’t exceptions.
Another important point—if a seller backs out of a sale at the last minute, you could be responsible for paying commission to both buyers agents Las Vegas NV and possibly be in breach of contract opening yourself up to potential lawsuits. If the buyer backs out at that last minute, he or she may also be in breach of contract. This could result in a claim for damages and a potential loss of the buyer’s earnest money deposit.
Buying
When you’re in the market to buy, the process can be a lot of fun. However, it can also be a bit daunting and you may have a lot of questions along the way. That’s where working with a reputable, experienced Las Vegas real estate agent will make all the difference. Keep reading to learn more about the buying process, including what to expect and how agent commission works.
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The Process
The first thing you’ll do is to choose an agent to help you find homes that you want to see. We can set up tours of homes, help with virtual tours, and even help research neighborhoods and properties. If you don’t already have a list of homes you want to see, an agent can assist you in the process. In most cases, we’ll meet with the seller’s agent outside of the tours and take care of everything behind the scenes until an offer is ready to be made.
Once you find a property you like, we’ll get together and write up an offer. If the offer is accepted, we’ll begin the closing process. If the seller sends a counter-offer, you’ll have to decide whether you want to accept or negotiate, or even if you just want to walk away. We’ll advise you on what we think is best based on our expertise, but ultimately, it will be up to you to decide how to proceed.
Closing can take a few weeks or even a few months. It depends on how prepared the seller is and how prepared you are as a buyer. This is also why most of the best real estate agents want buyers to be pre-qualified for lending and have their paperwork in order before touring homes so that the closing process can be expedited and there are no last-minute surprises.
At the closing, closing costs are negotiable, which can include things like home inspection fees, sales tax, and other fees. Unless otherwise agreed upon, the agent commission is not typically included in closing costs. To learn more about the home buying process visit our step by step home buying process guide here.
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Real Estate Agent Commission FAQS
To help you better understand commission and how realtors get paid, here are some important questions and their answers. If you still have more questions after reading this guide, or if you’re ready to get started on buying or selling your home, you can contact us here.
We know that buying or selling a home can be a confusing process. When you work with our professional team, you’ll trust that you get the best experience possible with the assistance of a trusted, experienced Las Vegas real estate agent on your side. On this page, we’ll help you better understand the buying and selling process, including the questions people often have about commissions paid to realtors in the transaction.
That way, you’ll have the knowledge and the right agent for the job– making buying and selling a lot less hassle and a lot more exciting for homeowners! After all, transparency is the first rule of success for us, and it’s what helps us drive your success.
How much is the real estate commission?
The commission fee charged by real estate agents is typically 6% of the sale price. This is usually split 50/50 between the buyer’s agent and seller’s agent unless otherwise outlined in the contract. For example, on a $200,000 sale, the commission would be around $12,000 and that would give each agent $6,000.
Who pays the commission?
The commission to both the buyer’s and seller’s agent will be paid by the seller. Unless it is negotiated as part of the deal, buyers will only pay closing costs that do not include commission. Sellers may also increase their listing price to cover closing costs, thereby passing the cost onto the buyer in a roundabout way.
Can You negotiate the realtor commission fees?
Fees for a real estate agent are not regulated by laws or anything of the sort, so some Henderson real estate agents may be willing to negotiate their fees. Some agents may also offer lower fees if they are acting as both the buyer’s and seller’s agent in a transaction. This is done on a case-by-case basis, however, and the value that you get for standard commission rates is typically worth the expense.
What does the commission cover?
The money paid to a real estate agent in the form of commission covers their service fee. However, it also covers things like marketing the property for sale or helping the buyers find homes, researching markets, and other related expenses. This is how realtors get paid, but it’s also how they can afford to market the properties they sell.
How does commission work for buyers?
Buyers are capable of using a Las Vegas real estate agent without having to worry about paying commission fees, in most cases. As mentioned above, the seller typically pays all commission, unless it is otherwise discussed or outlined in the sales contract. Some buyers who are eager to get a certain home may be willing to add the buyer’s agent or seller’s agent commission (or both) to their closing costs as part of the deal.
The Bottom Line
Work with a qualified Las Vegas real estate agent, whether you’re buying or selling a home, and you’ll quickly see that their efforts and knowledge are well-worth the commission, whether you’re paying it or not. Contact our team of experts today to get started on your real estate journey.