Real estate agents are stealing all the good listings.
Hello welcome to Todd Miller TV. I want to tall about buyer expectations, what you should expect as a buyer in a Las Vegas Real Estate Market. And the reason why this is some kind of important topic is because, I woke up this morning to find that a person who is nameless, who basically won’t give their name or information has posted to all of my social media sites with a bad experience to have Las Vegas buying. It wasn’t even me, it was different agent, but they put it on my, all of my stuff. So I just wanna address your expectation like you as a buyer should expect. So we’re gonna start off with this scenario, couple who claims to be form Canada although in their Yell preview it says they’re from New Mexico, came to the U.S. wanna buy a house. So the process they use was they would look, sit in their hotel room at night and look in the internet to find properties they like. Then they would call an agent, they would drive to the property. Sitting in front of the property they would look at it and then they would call agent and go “Okay, we lead lead you right here and chose the property” Well the agent would pull up the property and go “it’s not available anymore” and then you get mad, right? It’s the agent fault I guess that they wouldn’t lead them and show them the property that was not already already available. And this ofcourse was not someone who would hire the agent. They didn’t like enter in any agreement with the agent. They just sort of wanted this agent to run around for them. And, so they go to another property they find the same thing, they go find one that’s actually available. They write an offer on it and the owner’s out of town. Couple of days go by the owner’s in Alaska and they can’t get a hold of the owner and they say “Fine! we’ll just move on to another property” blame us, blame the Real Estate agent, like it’s our fault that the owner is not responding to their offer. So, this goes on. The same process, look at properties in the internet, then go drive it and try to make a call, and get a showing on it. So, that’s a problem, this is the problem, in Las Vegas there are a lot of homes especially in the bottom end that disappear very quickly. And keep in mind that what you see in the internet, there’s a delay. It’s non instant. The only thing that’s instant is the MLS. If you’re not in the MLS, you’re not getting instant view. These websites poll like once a week, or once everyday or once at some time and that’s information static. It’s not/it doesn’t update. So, if you’re looking on the internet on like, you know, Trulia, Zillow or anyone on those sites, it’s not super accurate information, it could be wrong. So, it can say it’s available, but it cannot be available. So, the other thing is, if you’re buying a condo or something really small, that chances are that you’re gonna have to enter an agreement with an agent. You can just, gone or the days just being able to drive around and make a call and have an agent run around and show you a property. And here’s the reason for that. Back in the day, if you sold a house, it was probably a $10,000 commission and agents would do that. A $30,000 condo, it’s not even a thousand bucks. An agent’s tank in gas is expensive. They’re not just gonna drive all over and have/and you never buy. So, what the agent’s gonna do is sit down with you, have a consultation in the office, explain the process, you’re gonna have to formally hire them. You have to sign a piece of paper stating: I’m hiring you agent and this is how you’re gonna be compensated. Because the problem we have is we show houses, we show houses, we show houses, and then you bail. And say forget it, “we’re gonna find somebody else.” Well, if you want to be treated that way, don’t hire an agent. You know, you have to hire an agent to get that level of service. And everyone has to be clear how the agent’s gonna be compensated. The other comment is that, This person says “Look, I bought houses in Canada and Caribbean and never gone through this.” Well, this is the U.S. and Las Vegas is unique within that. We have a very unique market, it’s a very complex market, and with the new ounces of bank owneds, and shortsales and the things that are going on here, you’re agent’s the expert on it. You need to listen to them and do what they say so your expectations may be based on what your agent tells you, not based on your previous experience of what it was like to buy a house in Canada, or what it was like to buy a house in the Caribbean or some other place. Even if you, you know, the thing I see the most is somebody else say, “Todd, I bought over 10 houses in the past.” That’s like the worst thing you could do, because now you have this idea of what it was like, if it’s not exactly like that then somebody is being un-ethical or cheating you or something. That’s not the case. The other comment that they made was, They/they’re just gonna deal with a Listing agent. That’s what they recommend. Just deal with a Listing agent. Well, I don’t know what you expect by doing that. So you’re gonna do all the research yourself, then you’re gonna call the listing agent who are gonna tell you the same thing, “House is not available.” It’s not like the listing agent can/that owner in Alaska, it’s not like the Listing Agent can magically get a hold of them. They’re presenting an offer, trying to get them, the listing agent already has the offer. Just because you go right to them. There’s also this thing out there where if you work with a Listing agent you get a rebate or a discount or something. Well, maybe in some other place where only %30 of the house is sell. My partner and I have listed and sold over 2,000 houses in the last 4 years. That’s just in the last 4 years. 2,000 houses in 4 years, and they all sell. So just because you come to us directly, we’re not gonna give you a rebate or cut. You know, refund commission, or anything like that. You’re not gonna get that/you’re not gonna get anything more. All you’re gonna get is more frustration ’cause you’re gonna drive around, look at the houses yourself, try to call the agent, they’re not gonna come out, they’re gonna send one of they’re buyer agent’s out. So, it’s very complex. Real Estate is complex, we as professionals in the industry understands the business, you know I totally understand your frustrations that you’ve had, whatever is out there, whatever proble4ms you’ve had buying a house here or anywhere else. But you have to have the right expectations. You have to understand how the game is. It’s not uncommon to right an offer, have multiple offers and look, if there’s 5 offers on a property, only one person’s gonna get it. So I mean, it’s 4 people aren’t gonna get it, that doesn’t mean those 4 agents were un-ethical or they were greedy or anything. They just, you just couldn’t get the property. It’s that simple. People list homes to sell them. Agents take up buyers to make sales. We’re all in this to make a sale happen. To help a client, to make it all good for everybody. And if it doesn’t work, it doesn’t mean anyone did a bad job. So, and if you do have a problem, you need to call the agent, and if you a problem with me, you need to call me; but don’t have problem with some other person and go on to my site an “Oh, I’ve tried to buy a house in Vegas and Todd miller’s like the bad for this” Anythin’ there is here, you need to call me so I can get involved ’cause I don’t even know who the agent is. They won’t even say who it is, just it was some other agent. So anyway, That’s just my update. One I just wanted to rant a little bit about the ridiculous number. I mean on every blog ever posted written they tried to post this like negative thing on everyone. It’s been/it’s on all of my social media, it’s crazy. So, and it’s/I don’t even know what it is. It’s not anything that we’ve done. It’s not a thing that I’ve done. So, it was a little hilarious. Plus, when I read it I can see where they were coming from. But I just wanted to sort of rant a little bit. Now that I’m done I’m good, but the other thing is, what really the real reason for this is it’s a buyer/it’s just their expectation. You know, their expectation was, this is Canada. All I can do is, do I do in Canada I go online, find a house, call the agent. And actually in the end, that’s what they state they did. They said they went on to the MLS in Canada and found a condo and just call the agent and submit an offer, Ofcourse they didn’t have a bunch of offers, it was available. And they end up buying that. So, I guess if that works in Canada, that’s great. If it works in the Caribbean, that’s great! But you know, it doesn’t work here that way. You know, so, Trust your professionals, listen to the professionals and you’ll have a great experience and you’ll get a great deal on the house. And if you don’t, you’re gonna get frustrated and you won’t get anything, So anyway, that is my update and hope to see you on another video. Thanks!