Las Vegas Luxury Home Sales

In the Las Vegas luxury home sales marketplace sometimes the second Broker wins the prize. I recently went on a luxury home listing presentation in which the Seller wished to get $3,000,000 for their Las Vegas luxury home. The only problem was that the very best comparable sales were $2,200,000. And, the neighborhood competition ranged from $1,700,000 to $2,250,000. Sadly, another Broker took the listing for $3,300,000. This reminded me of an old saying in the luxury home selling business, “sometimes it is better to be the second Broker.” After 6-12 months of languishing on the market the Seller is going to find out that luxury home Buyers are intelligent and educate themselves before they purchase. They may even get no showings on their overpriced Las Vegas luxury home. And in 12 months when their listing ends they are ready to deal with reality and sell the home for a market price. That is when the second Broker wins the prize. I can recall countless times in my career where I was honest and upfront with a home seller only to have them choose another Broker at an unrealistically high price. Nearly every time the listing expired and I became the second Broker. I then proceeded to list the home at the honest market price that I had given the Seller and have this result in a Las Vegas luxury home sale! The moral of this short story is don’t choose your Las Vegas luxury home Broker based on a high price they give you that can’t be supported by market data. Choose an honest Broker that will help you price your home to sell!

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