The Las Vegas Realtor Commission

A good Las Vegas realtor means more than just someone that provides you with the latest from the Multiple Listing Service (MLS), takes you around to view available homes or sticks a “For Sale” sign on your front lawn if you’re selling. You need someone who will take the time to sit down with you, look at your budget and help you determine how much money you will need for a down payment. A good Las Vegas realtor will help you negotiate with the other party involved so whether you’re a buyer or seller you can get the best price possible.

The Las Vegas realtor’s pay is based on commission and is paid after the property is sold and the closing complete. There is some confusion as to who pays the realtor’s commission. Actually it’s the seller’s responsibility to pay the commission at the time of the closing, but some contend that since the commission is figured into the selling price, it’s really money coming from the buyer. To be clear, the seller pays the commission after the sale and there are no added fees to the buyer.

If you are selling your home remember that the commission can be a substantial amount. Las Vegas realtors can set their own commissions. While commission is not regulated by the government, price fixing is against the law. As a rule, a realtor’s commission is considered earned once the seller and buyer have both agreed to and signed a sales contract. The Las Vegas realtor’s commission is paid at the same time as the closing on the property.

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