I got a call a couple of days ago from a Michael in Miami. His client had seen a listing on my site, and he asked Michael to check into it for him as Michael had been his agent in Miami on other transactions. But Michael wanted the selling agent’s complete commission, not just a referral fee. He said he had an agent that worked with him who was also licensed in Nevada. I asked Michael if the agent was part of our Las Vegas MLS – no, the agent was just a Nevada licensee, had no MLS access and was not even in Nevada. He would not be able to show property, write up a contract, negotiate or perform normal duties as the buyer’s agent.
I explained to Michael that in order to get the best deal for the client we looked at ALL real estate listings in our MLS, not just our own. We could not pay him the entire selling agent’s commission, but would be delighted to pay him the usual 25% referral fee. But Michael was not interested in that – he was only interested in getting a full 3% on anything his client bought and couldn’t understand why we wouldn’t just show his client only our own listings so he could get paid more.
How sad is it that this client has put his entire trust in Michael and Michael is only interested in his own bottom line? We regularly refer our Las Vegas clients to out of state agents, and we go the extra mile to personally interview the agents first before making the referral. I don’t care what company the agent works for – I just want to know that my client gets THE best agent I can find.
I just referred a client last week to an agent in Big Bear – this client had tried to find an agent on her own and was NOT happy with her selection. So my client contacted me and I called around until I found someone I felt comfortable with. And my client absolutely ADORED the agent I found for her - thanks, Maureen at RE/MAX Big Bear! The client is elated because she got a great agent who found her a dynamite deal on a bank foreclosure, Maureen is happy because she got a great client, and I am thrilled that my loyal client is so satisfied.
This is a true win/win situation and the way every transaction should be. I hope Michael is reading this - it’s not just about the money, Michael.
Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052
With over 30 years of experience helping families call Las Vegas "home!"
Related Blog Posts
Most real estate investors follow the latest fads when determining what they will buy. They usually focus on short term gains rather than the overall big picture, and tend to buy in environments of economic euphoria rather than environments of economic doom and gloom. They go with the herd mentality. Warren Buffet’s...
The Las Vegas housing market continues to ride a wave of stability as the median price for an existing single-family home in Southern Nevada last month was just under $313,000. That represents a 6% jump from December 2018 and a rise from about $307,000 in November of last year. The all-time high for Las Vegas was $...
The relationship you have with your real estate agent can set the tone for the entire home buying process. Your agent is supposed to help you find a property you can afford and work with the seller to negotiate the details of the purchase. But problems could arise if you’re on different wavelengths...
Key Takeaways 'Greige' (subtle yet powerful) improvements pay off the best. This year's report reflects continued optimism for the housing market. Replacements beat remodels and exteriors beat interiors. The 2017 Cost vs. Value report by Remodeling magazine documents the national and regiona...
Last month, agent Gregory Bass, an agent on the #1 Tonnesen Team at Berkshire Hathaway HomeServices Nevada Properties received a call from an agent in Georgia. They had a client from the South that wanted to purchase a High-Rise Las Vegas condominium close to the Strip. Gregory told them that the Tonnesen Team would...