We are turning down big commissions in order to put our clients interest before ours
We have made an oath to always put our client’s interest before ours and refused to do any transactions until recently while advising our clients to wait for a better deal. As proof, I will publish our answers to two of our customers which is just a small sampling of what we have sent out.
1: The reply below was e-mailed to a customer who was looking for a retail strip center for 1.5 million to 6 million dollars which means at least a $30,000 commission for us, but we refuse to make money at our customer’s peril. I have removed the customer’s names and particulars in order to protect their privacy.
Reply to a gentleman’s inquiry about buying a retail strip center in greater Las Vegas, Nevada approximately four months ago:
Dear Mr. P,
Hello, I hope you are well. Following our phone conversation, I reviewed about 170 listings for Las Vegas, Henderson, and North Las Vegas retail properties and have picked 20 for you. Please take a look and see which properties you like best, e-mail me the listing numbers which are located on the top left of the listings and I will provide you with much more detailed information about those properties.
You have contacted me through my website, where I pledged to put my customer’s interest way before mine. In keeping with my pledge, I have to advise that with the exception of the Strip and parts of downtown, Greater Las Vegas real estate prices are coming down and retail properties are no exception.
Price cuts for retail properties started showing up in commercial databases a couple of months ago and while they are not numerous, in my opinion (I am not an economic expert) both the number of properties offering price cuts and the discounts will rise sharply in the coming months. Additionally, none of these listing strikes me as a bargain and for your price range of 1.5-6 million dollars, there is a chance that you could save tens of thousands of dollars if you could wait awhile.
Thank you kindly for your inquiry and I wish you success in all your endeavors. I will call you tomorrow to make sure that you have received my e-mail and answer any questions which you may have.
The second reply is for a lady who is looking to purchase a new condo in One Las Vegas which is located on South Las Vegas Boulevard. Again, I advise her to wait for a better price and why she should wait. You can learn about using the non-published information to get a better deal.
Reply to a lady’s inquiry about buying a brand new condo in One Las Vegas, a high-rise condo project in Las Vegas
Hello, I hope you are well. I called One Las Vegas on your behalf and asked the inventory for your desired model and price range, you can find the information below this e-mail, please take a look.
Secondly, when we repeatedly state in the website and blog that you should be represented by a knowledgeable and ethical agent, such as me, and that we have made an oath to put the customer’s interest before our own, here is the proof.
In order to see how a project is doing close to release date, I always ask for the number of units sold so far as opposed to the total units in the project. The sales lady refused to tell me and said that this information is confidential. Well, it is not confidential and this is the first builder to refuse me that information. One of two reasons may exist and I am very confident about the first one.
1: They have not pre-sold enough units.
2: The sales lady didn’t know.
Completion dates for Towers I and II are this March and April 2008, and builders usually obtain a construction loan that they have to repay or refinance upon the completion of the project. Thus the more unsold units, the higher the discounts offered by the seller.
But this may not happen until the completion of towers one and two, although I expect to see the builder start offering discounts after the completion of tower one. Furthermore, if you get a pre-approved letter from a lender, I will make a lower offer than the builder’s lowest price and depend on how much trouble the builder is in, there is a strong possibility that they will take it.
I strongly recommend that you wait until after the release of the second tower and the discounts that I am confident will follow. Doing so could save you tens of thousands of dollars on your purchase.
This information cannot be found in the listings that have been made available to you and that is why I insist that all buyers should be presented by a good agent such as me. My services are free to you.
I hope you can see that we REALLY put your interest way before our own.
Please feel free to call me with any questions. I will call you to make sure that you got my e-mail and to answer any questions you may have on Tuesday as I will visit One Las Vegas tomorrow and try to get you more info.
I have tried to read between the lines about this project and am highly confident that my analysis is correct, but I don’t have a crystal ball and can’t guarantee that what I wrote about will happen, but I have seen what happened with similar projects and if you wait you will have nothing to lose as I am confident that the prices will not go up.
The above letters are a sampling of how we put our customer’s interest before our own. If you truly want a Realtor who looks out for you instead of a commission at your expense, contact us today.
Las Vegas, Henderson, North Las Vegas, and Summerlin Realtor, Masoud