A Las Vegas Nevada real estate broker is a professional who acts as an intermediary between someone who has a property for sale and someone who wishes to buy property. The broker usually represents the seller of the property but has no right to make any important decisions on behalf of the seller nor does the broker have the Seller’s power of attorney.
The broker has real estate agents assist him or her in the selling process. Both the broker and the broker’s agents are compensated through a commission on the sale. Although a real estate broker can represent a buyer, it is rare that this happens. When a potential buyer sees the property, they are expected to approach the broker for details, viewing and negotiations.
To act in the capacity of a Las Vegas Nevada real estate broker, the individual must be licensed by the state. The only person who can deal in real estate without a license is the owner of a property who is disposing of it by himself with no middle man. A broker who has agents working on his team must be licensed, the license is important because there is a considerable amount of money involved in the real estate transaction. To obtain a license, one first must be a practicing real estate agent and then with a further 90 hours of education he or she must pass an examination on real estate law.
Once licensed, a Las Vegas Nevada real estate broker can offer clients a pallet of services. The broker can provide an analysis of the market value of the home; he can make property appraisals, guide the seller and prepare all documents that are required to consummate the sale. A real estate broker can also conduct a property auction. Although it is the agent who does most of the sales work, the broker can lend assistance with the listing of the property with MLS, prepare advertising for the property and aid in negotiations prior to closing. As the broker is well connected in the real estate industry, he can often help with financing the purchase.
The broker’s commission is usually between 5 and 7% of the price that the property finally sells for, at times this can drive the price of a property up to the detriment of the seller as the broker wishes to maximize on his commission.
One of the most attractive and desirable pieces of Las Vegas Nevada real estate is The Martin. With apartments from as low as $300,000, to penthouse suites in the million dollar and up range there is a property to suit all buyers.
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