Step 1 - Understand the Game

I. Know the Players! • Buyer Agents - This is your Realtor in the Buying Process. You will find more information when you receive the Buyers Packet. • Listing Agents - Their Job is to serve the Seller. They educate Sellers on Comps and what the home can sell for. The main thing you have to know about them is they have a Duty to the Seller, but also want the home sold as well. ****A few ways homes get listed. **** • One way is, Seller wants the most money and Lists the property high. Even though Listing Agent will say they are above comps, Seller will want to test out the water. You can see these listings when you look at the Days on the Market. If it is past 30 days, the property is priced too high or something is up. Sometimes, Seller refuses to lower so the Agent is stuck just listing the property. • The second way is Seller follows MLS data, and Lists the home at the Most Recent Sold home that matches their home. This usually will be in contract within 30 days if it is in a demand area. • The Third way is they List the home below comps to attract more offers and then they will send out counters or a HI best Offer. This works well in popular areas where supply is low and demand is high. II. Ibuyers and why they are important? • They are important. They show up in hot markets. You know them by Opendoor, Zillow, Internet Companies who are trying to capture the entire market and have started brokerages. • Pros are, they keep the market up with Supply and Demand, Con is they are a business and have one goal in mind. • Knowledge of their mindset is key to negotiating with them. When they don't market a lot, the market is stagnant, when they market a lot and have billboards they are bullish on the market. Follow the money :) III. Hedge Funds who are they and why are they important? • They are important because they control Supply and Demand in Las Vegas. 8-10 years ago when the market was on the Bottom, Hedge Funds were buying properties from 80-100 K. Most of those properties have doubled or tripled. • They have made their investment and are using the properties for Cash Flow. Their margins are so good there is no point to dump their portfolio because they have made the investment into a Cash Flow monopoly. • You find this information by doing homework on the Assessor Page. Even if the market drops, they will buy it up in Cash to keeping their portfolios up. Investors are hedging the stock market by securing cash in Homes because more people need to work from home, which means homes will be in demand for the future because people are stuck in them all day now. • They are looking at taking over Commercial properties and renegotiate the leases with tenants on better terms than the original owner can. They will use Covid to build their commercial portfolio while controlling the Rent market and building equity. IV. Putting it all Together to Understand the Las Vegas Market. • With Vaccines coming out we will see a positive catalyst for the future. What is great to know is the casino industry is on the Bottom, Travel industry on the bottom, Yet in Vegas from May 2020 to Dec 2020 There was an Uptick in Sales. • We went from 2,000 sales to over 4,000 sales from May 2020-Dec 2020. The Monthly Supply of Homes for Sale is on a drastic downtrend. This means there is a lot of demand in the market. It also shows your stay home thesis of why home prices will rise will occur in markets like Vegas. • Hedge Funds and Cash Buyers are Bullish on getting in before the Vaccines come out and travel restrictions get taken away. • Las Vegas has not even received the benefits of the new resorts being built and the Raider Stadium. Small things add up to Big Results. Right now Vegas is Adding. Following the Money, not the News. • The local shops and casinos are packed and people are keeping them going. If that was the opposite, then you can look at a bearish market for the future.