The number of home listings in Las Vegas has continued to grow since the beginning of the year. More and more homes have been put on the market. Local authorities in the valley suggest this increase will create a new norm. Expect the current number of homes to remain steady. Many believe this 6-7 months of inventory still represents a very healthy market. Steady prices support that theory.
So, what is a listing? Getting back to basics for all potential sellers, a listing is a contract. A home seller agrees to allow a brokerage (and respective agent) to market a home to find a buyer for it. The seller may pay the representing broker/agent in a number of ways. A common method of payment is to pay a percentage once the home has successfully sold and escrow has closed meaning there is a new owner of the home. The contract between seller and brokerage has a period of time associated with it. This period gives the brokerage a fair time to put a marketing program in place. They will spend money out of pocket to provide exposure. They provide professional services and knowledge that helps to protect a seller during the process.
In Las Vegas, it is common to find an agent who specializes in listing properties. Working with a team will usually provide a seller with a handful of professionals whose collective experience will make the process smoother, with less hiccups.
In a market with a growing number of homes for sale, it is important to choose agents who will help price the home correctly and take care of all of the details involved.