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So if you’re buying a brand new home, you have to put in a backyard like I think you’re doing in your new home. Um, but it’s also furniture, you know, buying a fire extinguisher, random stuff, putting a lock on the back gate, stuff changing the locks on your door that you don’t know who has a key out and they add up, got a whole bunch of hundred dollar expenses. Well, that turns into several thousand pretty quickly. A add that on top of furniture, moving expenses, all these different things, you, you, you get a pretty large bill after the home purchase too. So overextending yourself, you want to make sure you have cash in the bank and can afford the property with great Trust Attorney Las Vegas. One thing that, that I’ve done and recommended for, for people, especially just starting is if you’re purchasing a home, look at the monthly payment and uh, try to see if, if rent in that area matches that monthly payment. Because if you get stuck in a situation where you have to relocate for your job or some unknown circumstance happens, uh, where you can still afford the home but it could potentially turn into an investment opportunity for you, it would be great that a renter can just come in and take over your mortgage payment and you keep the house and now it’s a wash for you financially, but you have someone essentially paying off your mortgage. And uh, that would be a great way to look at it financially as well as is trying to have it, um, match or even be under what rent is in the areas.
Yeah. Ideally it’s under, you know, but that’s the worst-case scenario. It pays off your mortgage and then you just, as expenses come up, you have it. And I think other expenses, first time home buyers don’t realize is, you know, when the water heater goes out, you don’t have anybody to call. You got to go take care of that yourself. When your toilet starts leaking, you’d and have to call the plumber and pay them and all that. So home buying is great. I definitely recommend it versus renting, but just know there are added expenses there. And I think that’s, you know, more or less what we’re trying to do.
You know, that’s actually offers solid Trust Attorney Las Vegas, this is a good thing that most people don’t know about it. There’s just something called a home warranty. Have you ever heard of a home warranty? So, um, it covers things like the water heater, air conditioner, uh, you know, dishwasher, refrigerator, which are huge expenses again, especially for first time home buyers or, or maybe even move-up buyers a year, not expecting to pay $2,000 after all of your moving expenses and everything. Uh, and then your AC blows or your refrigerator goes out. That’s a really hard hit. And having a home warranty you and it’s something you can negotiate the seller to pay for in your purchase as a home warranty could help you, uh, and it covers you for a year and you can continue that on for as long as you want. You just wrap it every year and it’s about 500 bucks, 550 bucks, depending on which company you use and what you do. And that’ll cover you for your major appliances.
That’s great. Yeah, that’s, it’s another form of insurance essentially, but it’s for those specific items so you don’t have to have it come up with a bunch out of pocket. Exactly. That’s great. All right, so let’s flip scenario. They’d been in the house, they’re selling it. What are the mistakes that you see happen? Um, you know, with selling a house for great Trust Attorney Las Vegas,
so this is, this is tricky because on the sell side, a lot of people, my toughest competition is the average agent. It’s a friend in the business that someone has. And the average agent in Las Vegas sells about four homes. And that’s the average nationally as well. And there are 17,000 or so agents in Southern Nevada. There’s a ton of realtors here. And, uh, you know, if you’re doing an average of four homes a year, let’s say, and even if you take out all the people who don’t do business with you and do the best Trust Attorney Las Vegas, and then you take the median, it’s, it’s still about six or seven homes a year. Well, the top 3% of agents do about 24 homes a year. So top 3% well then there’s a whole nother category. I mean, I, I’m doing over 60 homes a year, so that’s more than 10 times what the average agent is doing.
So the average agent is exposed to four to 10 transactions a year. And usually half of those are buyer side where they’re representing the buyer and maybe half are sell-side where they represent the sell side, where I’m 80% listings and I work with my sphere of influence. So people that I know on the buy side, but I focus heavily on listings and most great agents do because that’s where they can, uh, level up and do volume. And so they’re very, very good at listings and they understand the market. So if you’re doing only four to 10 transactions and it’s 50, 50 buyer or seller your, let’s call it five or six of those at best, our, our listing side, that’s one every other month. And so you’re doing one sale every other month, you don’t know really what’s going on with the market. You’re not in tune with the changes and how you should price the home properly for the best Trust Attorney Las Vegas.
And what buyers are looking for. And uh, what changed in the mortgage industry? Uh, what, you know, what’s affecting it really, where if you’re selling four homes a month or five homes a month, you really are in tune with what’s going on, where to price things. Chances are you’ve sold multiple homes in that area and that neighborhood, you have buyers that are interested, that you’ve been in contact with. You have leads that you can bring to the seller. There’s a lot of other things that an experienced agent can bring to you than the average agent. So it’s good to work with the people that you, you know, I would definitely interview them, but I would interview multiple people to get top Trust Attorney Las Vegas. I wouldn’t cause you to want to also have a personal relationship with someone. You want to be able to connect with them because it’s your biggest and most times it’s your biggest investment in life is going to be your home.