Home Buying in Las Vegas>Question Details

Alifer, Home Owner in Las Vegas, NV

Honestly is it possible for an agent to work 100% in best interest of buyer?

Asked by Alifer, Las Vegas, NV Tue May 7, 2013

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I'm not sure where the previous comments went, but in reply I must say that the input of others in other states provides a different perspective where regional expectations are concerned. Granted, some agents may not reside in, or well versed in the NRS 645. However, buyers may currently reside in Nevada and have had different experiences in other states. Some laws and regulations are unique to each state. If you limit your answer to Nevada law, you are correct. The buyer may have had questionable experience elsewhere. Agents from other states are not wrong, they are providing an expanded view of those perceived expectations. This helps the respective professionals better serve their clients around the country, and sometimes around the world. I don't place limits on my knowledge of others markets or laws. Anyone who does then limits their ability to serve their clients.
0 votes Thank Flag Link Mon May 20, 2013
Hey Mack! It's the fiduciary responsibility for the buyers agent to represent 100% of the buyer's interest. It's a legal thing, and you could lose your license if you don't. This is NOT opinion, it's Law.


David Cooper Investing in Las Vegas Since 1994
FREE REO Foreclosure List http://www.lasvegaswinner.org
702.499.7037
1 vote Thank Flag Link Sun May 19, 2013
Honestly............yes it is!
1 vote Thank Flag Link Sat May 18, 2013
Sounds like you might have had a bad experience with a Realtor. I am a Buyer's Agent. I choose to represent buyers because they are not usually familiar with the process and the paperwork involved.
Listing Agents on the other hand are in it for the $$. The more houses they list and then sit on them until they sell and collect their commission is their MO.
When I represent a Buyer I make a friend and they come back to me for all their future RE transactions

Rob Fowler, GRI
Sellstate Deluxe Realty
robsrelv@gmail.com
1 vote Thank Flag Link Mon May 13, 2013
ABSOLUTELY!!

I represent ALL of my clients to the best of my ability on EVERY deal!! i pride myself on taking very good care of my clients. We base our business on it and the referral business that comes along with doing good business.

Not all agents are the same and although every agent should watch out for their clients best interest this is not always the case unfortunately. This is why you hear about agents going to jail and being sued. It is the law. Agents have a fiduciary duty to the clients they represent.

If you are looking for a reputable buyer's agent in Vegas start your search here or contact me directly below: http://lvrealestatehelp.weebly.com/buying-real-estate.html

I look forward to hearing from you!

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com

CONNECT with me on LinkedIn: http://www.linkedin.com/pub/robert-adams/2a/971/a93/

LIKE me on FaceBook: https://www.facebook.com/pages/The-Adams-Team-at-Rothwell-Go…

FOLLOW me on Twitter: https://twitter.com/ShortSalePros
0 votes Thank Flag Link Mon Aug 26, 2013
It's the Law in Nevada if you have a Real estate License, you have a "fiduciary" responsibility to represent 100% in the best interest of buyer. Look up the definition of "fiduciary" This in NOT a judgement call.

David Cooper Investing in Las Vegas since 1994
http://www.lasvegaswinner.org FREE REO Foreclosure List
702.499.7037
0 votes Thank Flag Link Sun Aug 25, 2013
Al McCaw nailed the answer. If you pick a good, solid, EXPERIENCED, agent...the answer is a resounding YES!

Jeffrey Sklar
Broker/Owner/Realtor
Desert Valley Realty
10161 Park Run Drive #150
Las Vegas, NV 89145
702-408-6470 mobile
702-763-SELL (7355) office
888-203-2779 fax
Jeff@DesertValleyRealtyLV.com
Be sure to tune into 720AM every Saturday at 6pm to hear me host "The Real Estate Show!"
0 votes Thank Flag Link Sun Aug 25, 2013
For good, committed agents, the answer is an unresounding YES! It really depends on who you, the buyer, picks to be your agent. If you pick an agent who does real estate part time, new to the profession, and lacks the knowledge to know what exactly the buyer's best interest is, then the answer is "No, it is not possible for this type of agent to work 100% in the best interest of the buyer."

Choose wisely. Research and interview as many Las Vegas realtors as you can until you are convince you have found the right one who meets all of your criteria.
0 votes Thank Flag Link Fri May 31, 2013
Yes it takes integrity and honesty and someone who cares.

I believe that trust is a precious gift, that once earned, must be safeguarded.

Search:
http://www.Las-Vegas-Real-Estate-Home.com

Regards,

Phil Scheinman, ABR, GRI, E-PRO

Broker * Sales Agent * Realtor
Realty One
2831 St. Rose Parkway Ste. 100
Las Vegas, NV 89074
Direct: 702-580-9198
Fax: 702-614-9337
E-mail: smokey25@cox.net http://www.PhilScheinman.com
0 votes Thank Flag Link Mon May 20, 2013
It is very misleading for an agent licensed in another state to offer opinions on what is the law in Nevada. We don't want to cause confusion in the clients as what kind of representation their will get in Las Vegas.

David cooper Investing in Las Vegas since 1994
http://www.lasvegaswinner.org
0 votes Thank Flag Link Mon May 20, 2013
Very good points made by all... Letter of the (individual state) laws and the spirit of those laws. Different states do have slightly different interpretations, especially in my side of the business. Legal opinions that stand up in Wisconsin would have been thrown out in NV, TX & FL.
0 votes Thank Flag Link Mon May 20, 2013
Better check out the legal meaning of "fiduciary" if you are conducting real estate transactions in Nevada. Every "yes, but" cannot waive the legallity of you representing your client 100%.


David Cooper Investing in Las Vegas since 1994
http://www.lasvegaswinner.org
0 votes Thank Flag Link Mon May 20, 2013
David - only in states where that is true. Washington is not a "fiduciary duty" state; we have a statutory obligation that does not include "obedience." We owe our principals Loyalty, but not Obedience.

"100% best interest?" I think that's a ridiculous standard, because you can make a compelling argument that working for free is in the client's "100% best interest." No.

I think all of us are obliged by law to disclose defects in a property that our seller has failed to disclose. Is that in their "100% best interest?" Maybe sometimes, but maybe not.

Our OP, Alifer, asks a legitimate question, and in our desire to be the best servants ever, we may be a little quick to jump the starting gun. It is "possible" to work 100% in the best interest of a buyer, so long as these interests do not conflict with our legal and ethical obligations, and of course - so long as we get paid.
0 votes Thank Flag Link Sun May 19, 2013
Very possible! Unless the buyer's best interests are illegal.
0 votes Thank Flag Link Sun May 19, 2013
It depends on your point of view.

If you think that 100% best interest is being the "real estate fairy" who works for free and grants a client their every wish, then - there's a special kind of "no" for that!

But you know, when I hire services, I expect that the provider will be paid fairly, and that they will do as good a job as possible for me. And I am rarely disappointed.

Licensees are not required to work in 100% best interest of a client, they have specific obligations as to honesty, confidentiality, and duty - but we also have a duty to the public, which means the principal on the other side.

That's how licensees broker several million real estate transactions a year in this country. If it's not good enough for you, then I think I speak for all of us in wishing you the best going it on your own.
0 votes Thank Flag Link Sat May 18, 2013
Absolutely! The first step is finding a Realtor with a strong track record of working with buyers. Then, be honest about your situation and goals. Ask lots of questions to make sure your concept of “best interests” matches theirs. For instance, if they think they’re serving your best interest by requiring that the seller pays your closing costs and warranty, but you lose the property that you really wanted, who really won?

Regards,
Chad Roberts
Broker/Salesperson
Realty One Group
0 votes Thank Flag Link Sat May 18, 2013
If you contract with a Buyer's Agent, and use a Buyer's Agent Agreement, that individual is ethically, morally and legally bound to work in your behalf. Interview the agent the same way that you would interview any other professional, and ask pressing questions, and ask how they would react and what they'd do. It's your comfort level that matters most!
Richard Brody Daniel Gale Sotheby's International Realty richardbrody@danielgale.com
0 votes Thank Flag Link Mon May 13, 2013
Do I have your Loyalty? is a very interesting question in real estate. I believe that integrity is the key to deciding who is the best agent for you. Trust is a very important gift that my clients bestow me and I do everything imaginable (and sometimes unimaginable ... ) for my clients to keep their trust. But in the end, since the seller pays for the buyers agents commission you could always be left with doubt.

However if you want to remove any uncertainty then you can let the seller know in your offer that there will be 0% commission for the buyers agent. Of course since you know we don't work for free you will have to pay the realtor out of your own pocket. For rule of thumb to give you an idea of how much to pay the realtor, you can figure on about 3% of the purchase price. This is a Negotiable %.

I hope this helps. By the way you are more likely to win a house in a multiple bid situation with this game plan and all the while guaranteeing their loyalty.

http://www.Las-Vegas-Real-Estate-Home.com

Regards,

Phil Scheinman, ABR, GRI, E-PRO

Broker * Sales Agent * Realtor
Realty One
2831 St. Rose Parkway Ste. 100
Las Vegas, NV 89074
Direct: 702-580-9198
Fax: 702-614-9337
E-mail: smokey25@cox.net
http://www.PhilScheinman.com
0 votes Thank Flag Link Wed May 8, 2013
If you contact me I can give you my website and you can read dozens of recent reviews from Buyers who will show you how far backwards I bend to make sure my buyers are 1000000% getting things done in their best interests. I never make decisons based on MY bottom line and am brutally honest with my buyers at ALL times.
0 votes Thank Flag Link Tue May 7, 2013
Yes, please don't loose faith in humanity because of a few bad apples. There are two things we owe you...one is the legal responsibility and the other is a Moral/Ethical/Spiritual. There are good and decent people in every walk of life. Just do your homework, and be prayerful. Please feel free to meet with my wife and I as we do take the buyers interest to heart. We've been doing this since 1985 and it has served us and our clients well. Thanks, Matt and Kim
0 votes Thank Flag Link Tue May 7, 2013
The legal term is "fiduciary responsibility" meaning the agent is required to give 100% of their effort to the person that retains them


David Cooper Investing in Las Vegas since 1994
0 votes Thank Flag Link Tue May 7, 2013
30 years and $250 million worth of real estate transacted ... I believe so :o)

http://robflitton.com/contact/about-rob-flitton/
0 votes Thank Flag Link Tue May 7, 2013
Is it possible for your mechanic to REALLY try to fix your car?
Does your Attorney REALLY try to win your case?
Do you REALLY do good work for your employer?
0 votes Thank Flag Link Tue May 7, 2013
Yes. (Why not?) That's the primary responsibility of a buyer's agent....just as the primary responsibility of a listing agent is to work 100% in the best interest of the seller.
0 votes Thank Flag Link Tue May 7, 2013
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
MOST agents have your best interest in mind. However, some are so hungry, they will close the deal no matter what. It is recommended that you do a background check on an agent before you hire them. Simple references will work. Also, an agent that has been around more than a few years has been able to stay in business because they worked 100% in the best interest of the buyer.
0 votes Thank Flag Link Tue May 7, 2013
Hank is 100% correct!

Mike Kruse
VIP Realty Group
702.286.3434
Mike@lvhomesbymike.com
Web Reference: http://lvhomesbymike.com
0 votes Thank Flag Link Tue May 7, 2013
Yes, There are many reputable agents in the Las Vegas Valley area. I, and my inspectors are independent as well. We work for our clients, no outside influence. For that and many other reasons, there are agents that consistently refer their clients to us. If I, or any of my inspectors can be of help go to my website for all contact information. We look forward to hearing from you.

Lee Taylor
Owner / Inspector
http://www.lasvegasinspector.com
702-616-6775
LVInspector@yahoo.com
0 votes Thank Flag Link Tue May 7, 2013
It is not only possible, it should be expected. Buyer and buyer's agent should have the same objectives.
0 votes Thank Flag Link Tue May 7, 2013
Yes,...Absolutely....
Unless you have signed an agreement for "Duel Agency"...Your agent should be working 100% for you as the Buyer.

In Las Vegas, it is possible for an agent to work both sides of the transaction, However,...The Seller and The Buyer need to agree to it in writing.

If your Buyes Agent is not meeting up to your standards and you have not signed a buyer/broker agreement........Get rid of him/her and find somebody that you can relate to who will work hard for you.

I see that you are from Las Vegas,..... feel free to call me if you need help finding a home.

Hank Lauzon III
Realtor

Exit Realty Number One
6600 W. Charleston #119
Las Vegas, Nv 89146

Cell 702-449-0899
Office 702-949-2409
Fax 702-543-6844

Web : http://www.HanksLVRealestate.com

Email: HankLVRealestate@aol.com

Facebook: http://www.Facebook.com/HanksLasVegasRealEstate
Never look down on anybody...unless you're helping them up.
0 votes Thank Flag Link Tue May 7, 2013
yes .
0 votes Thank Flag Link Tue May 7, 2013
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
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