Here are the reasons that Las Vegas new home buyers should be represented by a Realtor
I am always baffled when I see new home buyers in one of the Las Vegas new home sale offices without an agent by their side. Talk about foolishness, why would someone take such a big risk with one of the biggest transactions of their life when there are no rewards? Las Vegas new homes buyers have nothing to gain by doing the transaction on their own, as Nevada home builders are prohibited by law from sharing the savings from not paying the Realtor’s commission with the buyers.
It would be understandable if the new home buyers had good understanding of Las Vegas new home market conditions or could obtain the latest incentives offered by new home builders these days. Other issues include an understanding of LIDS and SIDS, future construction in the area which could impact future value of their residence and the saving obtained when buying an inventory house instead of building one from scratch.
Such buyers of new homes for sale in Las Vegas fail to understand that as nice as the new home sales persons are, they work for the builder and their fiduciary duties are with their employer and not the customers. Would the same people take an opposing attorneys’ advice or represent themselves in a crucial law suit.
The builders prefer that their customers be accompanied by a Realtor and the reason is that if something goes wrong the buyers would sue the brokerage and the realtor and not the builder. When a buyer hires a Realtor, it is understood that the clients are laymen and have hired a professional to protect them; this is almost always at no cost to the buyers.
Thus if something goes wrong the client can claim that their Realtor did not do his/her job properly and did not protect them. If the buyer buys directly from the Las Vegas new homer their only recourse is to claim ignorance and say the builder took advantage of their ignorance. Who has a better shot at winning in the court, you decide.
This not hypothetical, about a couple of years ago Pulte, one of Las Vegas’ biggest builders cut their new home prices by almost 30%. Many buyers who already were in contract with Pulte filed complaints against them. Most did not have a realtor accompany them. To my knowledge this is still unresolved.
I will keep repeating, most of today’s problems with foreclosures would have been avoided if amateurs did not try to do a professional’s job at their own determent.
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