[Vegas Bound Gato]

Hello- I am moving to Henderson in a few months. We have visited to look at housing, but are overwhelmed by the number of developments and sub-divisions.

We are looking for a realtor who really knows all of the areas and can advise us on what is a good investment for know and years to come.

Thanks!

[bledsoe3]

I sent you a DM.

Heads up Jim.

[calgalt]

i am buying a house (or trying to) and sent you a DM too

[WestieJeff]

I don't have a specific recommendation for you, but just as a piece of advice, I would recommend thinking about in advance if you will be looking at short sales or just REO and conventional properties. And if you are wanting to write offers on short sales, think about if you'll want to be writing just one or possibly writing multiple short sale offers (due to long waiting periods) and make sure whatever agent you're interviewing is OK with that.

I doubt if you're moving from out of state that you'll be looking at short sales, but just in case.

Also I recommend asking upfront what the brokers administrative commission (BAC) or document storage fees are going to be. You as a buyer will be paying this fee to your agent's broker in addition to the commission they are receiving from the seller. This was new to me since I don't remember being charged this last time I bought a house. Our agent charges $350, but I've heard as low as $175 and as high as $750.

[SportyandMisty]

Originally Posted by WestieJeff

...

Also I recommend asking upfront what the brokers administrative commission (BAC) or document storage fees are going to be. You as a buyer will be paying this fee to your agent's broker in addition to the commission they are receiving from the seller. This was new to me since I don't remember being charged this last time I bought a house. Our agent charges $350, but I've heard as low as $175 and as high as $750.

Wow. I've never heard of such a thing.

It sounds an awful lot like going to a car dealer & looking at a popular model and the dealer has added "Market Adjustment" or maybe "Additional Dealer Markup" -- that is, just extra profit.

Maybe this is a hold-over from the bubble days.

[USCTrojanCPA]

Originally Posted by Vegas Bound Gato

Hello- I am moving to Henderson in a few months. We have visited to look at housing, but are overwhelmed by the number of developments and sub-divisions.

We are looking for a realtor who really knows all of the areas and can advise us on what is a good investment for know and years to come.

Thanks!

I used to have an active NV real estate license, but since most of my clients are looking in Orange County, CA that's where my focus is. My cousin's husband has can definitely help you out. Just like me, he is not your typical realtard. Let me know if you would like to get his contact information. Before you select an agent, speak with at least 3 agents and pick the one you are most comfortable working with.

[WestieJeff]

Originally Posted by SportyandMisty

Wow. I've never heard of such a thing.

It sounds an awful lot like going to a car dealer & looking at a popular model and the dealer has added "Market Adjustment" or maybe "Additional Dealer Markup" -- that is, just extra profit.

Maybe this is a hold-over from the bubble days.

I was surprised to see this too, but I did some research and bottom line is it's pretty much standard now as far as I can tell. The thing I don't like is you won't find out until you make an offer. Our offer had several pages discussing the BAC charges and how they aren't legally required to charge you that fee.

I've heard you can make your agent pay it out of his commission, but I didn't think it was worth throwing a fit over $350 in our case.

I just would want to know upfront if it is $200, $350, or more than that. More than $350 I would be complaining about.

[olecapt]

Originally Posted by WestieJeff

I was surprised to see this too, but I did some research and bottom line is it's pretty much standard now as far as I can tell. The thing I don't like is you won't find out until you make an offer. Our offer had several pages discussing the BAC charges and how they aren't legally required to charge you that fee.

I've heard you can make your agent pay it out of his commission, but I didn't think it was worth throwing a fit over $350 in our case.

I just would want to know upfront if it is $200, $350, or more than that. More than $350 I would be complaining about.

It is pretty well standard in the national outfits. Note that the agent can manipulate the charge and some do. So ask the agent if he gets any of the fee.

This fee remains somewhat controversial. It has been found an illegal fee in one Appeals Court. The argument is whether it is a pure junk fee or there is value provided. Been a lot of cutting and ducking about the nature of the fee over the last year. Basically trying to find words that will cover the legal need.

The rub is that it has become a survival matter in many of the larger RE brokerages. The more successful agents are mobile and negotiate good terms with the brokerage...and they do most of the business. Their arrangement may cover costs but not much more. Thus the entire profit to the brokerage comes from the admin fee. The only other really profitable segment for the brokerage are the desk fees from new comers who also pay relatively high cuts to the brokerage.

It is a strange world that we build.

[KiwiKate]

I've sent a DM to the OP recommending a realtor for their Henderson search. They handled a Henderson rental for me when I was out of state, and I now have an offer on an Anthem short sale in the hands of the bank.

[WestieJeff]

Originally Posted by olecapt

The rub is that it has become a survival matter in many of the larger RE brokerages. The more successful agents are mobile and negotiate good terms with the brokerage...and they do most of the business. Their arrangement may cover costs but not much more. Thus the entire profit to the brokerage comes from the admin fee. The only other really profitable segment for the brokerage are the desk fees from new comers who also pay relatively high cuts to the brokerage.

I understand that to be the case, but I find it ironic that the most successful agents who are also earning the most commission due to having the best split with their broker, cannot pony up the $350 in that case.

Overall I don't have a complaint with the charge since realtors have to do a lot of work upfront and there is no guarantee that their buyer will complete a deal with them.

I just wish the agents were more upfront about it since the charge can vary and you don't find out until you're ready to make an offer. I figure that the agents would be worried about losing clients if they were too upfront about.