Is it necessary to hang your Las Vegas Real Estate License with a franchise company like a Century 21?  I thought so.  When I got into the business back in 2001, I hung my license with a Century 21 franchise in Henderson, Nevada.  I really didn’t realize the cost of doing business at a franchise like Century 21 until I received my first closing check.  Being a new agent, I was on a 50/50 split but I didn’t realize I lost an additional 6% for the franchise fee.  How is that a 50/50 split?  After a few more closings, I sat down and looked at my options.  Was I really receiving a benefit hanging my license at a franchise like Century 21?  Was it really worth 6% on every transaction I closed just to hang my license at a brand name real estate company?

Maybe a few years ago it did make sense to hang your real estate license with a franchise like Century 21 but in today’s real estate market, it makes no sense.  The shift to the Internet has leveled the playing field in the real estate industry.  Buyers are using the Internet to search for homes and sellers are using it to find a real estate agent who can sell their home.  This is why I don’t understand why a Las Vegas Real Estate Agent would hang their license at a franchise that charges 6% for every transaction they close like a Century 21.

Let’s look at another example of why it doesn’t make sense.  Las Vegas home prices peaked in June 2006 with a median price of $315K and currently the median home price is $141K.  The average real estate commission in today’s real estate market is $4,230 compared to $9,450 in 2006.  Anyone that loses that kind of income is going to notice a serious hit to their pocket book.  With that kind of loss of income, why would you keep paying the same fees you were paying in 2006?  Your fees are still the same but your income isn’t.

In today’s Las Vegas Real Estate Market, if you are going to hang your real estate license at a real estate brokerage, you better be receiving something of value.  Whether it be low monthly licensing fee, real estate leads or a generous split, it needs to make financial sense.  The cost of doing business has not decreased, so every dime you can cut from your expenses is very important.

Every dollar you make from your real estate business is very important and to give away a few hundred dollars per closing just to be associated with a brand name company is not worth it.  Like I said earlier, I hung my license for over 4 years with a Century 21 Franchise that charged me a franchise fee on every transaction I closed.  I must have given away over $10K dollars during that 4 year period and for what.  Since I started my real estate brokerage, Shelter Realty, Inc., I never had a client tell me they wouldn’t work with me because I wasn’t associated with a brand name real estate company.

So back to my original question, why are you giving away a few hundred dollars in franchise fees on every transaction just to be associated with a brand name brokerage?

If you are a Las Vegas real estate agent whose interested in joining our real estate team, we have opportunities for you.  For more information, fill out the form on our Las Vegas Real Estate Career page or call us at 702.376.7379.

Tony Sena

Tony Sena is broker/owner of Shelter Realty Property Management. For more than a decade Tony and his partners have provided residential real estate and property management services to sellers, buyers, investors, and property owners in the Las Vegas Valley. A Las Vegas native and former police officer for the City of Henderson, Tony brings to the table a unique local perspective that continues to serve his clients well.

www.shelterrealty.com

When I’m driving with Buyers showing them properties in Las Vegas they inevitably ask me a question I can’t answer. I am not trying to be evasive I just can’t answer them without the risk of being sued, fined and/or having my license revoked. What I am writing about here is mostly in response to Fair Housing laws and the governments attempt to eliminate discrimination in Real Estate/Lending.

The first important definition to understand is a practice called steering. Steering is “the illegal funneling of home buyers to particular areas based on a desire to keep the make up of a neighborhood the same or intentionally change it” (definition provided by ask.com). The second important definition to understand is the practice of Redlining. This term was coined when lenders actually drew a redline on a map and refused to lend money to people buying in that area.  The lenders argued that they were unacceptably risky areas to lend in. The lenders lost that argument on the grounds that they were discriminating against people based on racial and income profiles.

So please don’t ask me (or your Realtor) if there are a large percentage of one type of people (read: Race) or another in a particular neighborhood. Even if I knew (which I usually don’t) I won’t tell you anyway. There are decent demographic statistics at the US Census bureau’s website if you are interested in such things (and the new census starts in 2010). The same goes for me offering specific information about various religious buildings in the area (I can’t do it, look on the Internet). Ditto in regards to school ratings, environmental issues and crime statistics. Two good ways to get a feel for a neighborhood is to drive the area and talk to the neighbors.

A Realtor is also prohibited from disclosing confidential information about their clients to anyone other then their broker (for a certain period of time). The exceptions being unless they are ordered by a court of law or given written permission by the client. The reason why I mention this is sometimes the Realtor can be representing both the buyer and the seller. In this case, the Realtor has to walk a fine line as to what he or she can reveal to whom.

Fortunately, we live in an age of abundant information. If you know where to look you can find almost anything on the Internet. Want to know how much the seller paid for the house, look at your county recorders website for their property tax records. Want to know how many sex offenders live in the area, you can go to Family Watchdog website. School information can be had at the National Center for Education Statistics website. I often tell my mother, “don’t be afraid to try things on your computer, it will stop you before you do something stupid”. I suggest a similar thing to you, if you want to know something about a neighborhood (and I can’t tell you), ask a search engine.

My name is Greg Hoffman and I have lived in Las Vegas since 1990. I have been a Realtor here since 1999. I welcome your comments good, bad  or indifferent.

Tony Sena

Tony Sena is broker/owner of Shelter Realty Property Management. For more than a decade Tony and his partners have provided residential real estate and property management services to sellers, buyers, investors, and property owners in the Las Vegas Valley. A Las Vegas native and former police officer for the City of Henderson, Tony brings to the table a unique local perspective that continues to serve his clients well.

www.shelterrealty.com

My Las Vegas Home Didn’t Sell… Should I Rent It Instead?

With today’s changing Las Vegas real estate market, it’s not uncommon for homes to remain on the market longer than expected. As inventory has increased and buyers have become more selective, many homeowners are finding themselves in a position they didn’t anticipate—their home simply isn’t selling.

When this happens, many sellers become frustrated and immediately assume their real estate agent isn’t doing enough to market the property. While there are certainly situations where poor marketing or communication can impact a home’s sale, that’s not always the case. Even experienced agents with strong marketing strategies cannot control market conditions, buyer demand, interest rates, or competing inventory.

So, what happens when your listing expires?

Many homeowners receive an overwhelming number of phone calls, text messages, emails, and postcards from agents promising they can sell the home quickly if given the opportunity. While interviewing another real estate agent may be worthwhile, it shouldn’t be your only option.

For many homeowners, converting the property into a rental can be a smart financial decision.

Is Renting Your Home the Better Option?

Instead of repeatedly reducing the asking price or leaving the property vacant while waiting for the right buyer, renting your home may allow you to:

• Generate monthly rental income.
• Allow the property to continue appreciating over time.
• Build equity as your tenant helps pay down the mortgage.
• Wait for more favorable market conditions before selling.
• Preserve your long-term investment instead of selling at a discount.

Many accidental landlords have discovered that renting their home provided greater financial flexibility than accepting an offer well below their expectations.

Property Management Makes the Difference

Owning a rental property doesn’t mean you have to become a landlord.

Professional property management companies handle the day-to-day responsibilities that often discourage homeowners from renting, including:

• Marketing the property to qualified tenants.
• Professional tenant screening and background checks.
• Lease preparation and execution.
• Rent collection.
• Maintenance coordination.
• Property inspections.
• HOA communication.
• Accounting and monthly owner statements.
• Handling tenant issues in accordance with Nevada landlord-tenant laws.

With the right property management company, renting your home can become a passive investment rather than a second job.

If You Still Want to Sell…

If selling remains your goal, take the time to evaluate why your home didn’t sell before signing another listing agreement.

Consider asking prospective agents questions such as:

• How many homes have you successfully sold in today’s market?
• What is your marketing strategy beyond placing the home in the MLS?
• How do you determine the proper listing price?
• How often will you communicate with me?
• What adjustments do you recommend if the property isn’t generating showings?
• Do you offer property management if I decide renting becomes the better option?

An experienced real estate professional should be able to help you evaluate both options objectively—not simply encourage you to relist.

Selling Isn’t the Only Successful Outcome

A listing expiration doesn’t necessarily mean you’ve failed. It simply means your home didn’t sell under the current market conditions.

Today’s homeowners have more choices than ever. Sometimes selling is the right decision. Other times, renting the property for a few years can provide stronger financial returns while preserving your investment.

The key is working with a real estate company that understands both sales and property management. By evaluating your financial goals, current market conditions, and long-term plans, you can make an informed decision that’s best for you—not just one that results in another listing agreement.

At Shelter Realty Property Management, we’ve helped hundreds of Las Vegas homeowners successfully transition from unsuccessful listings to profitable rental properties. Whether your goal is to sell today or rent until market conditions improve, our team can help you evaluate your options and develop a strategy that protects your investment and maximizes its long-term value.

Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Tony Sena

Tony Sena is broker/owner of Shelter Realty Property Management. For more than a decade Tony and his partners have provided residential real estate and property management services to sellers, buyers, investors, and property owners in the Las Vegas Valley. A Las Vegas native and former police officer for the City of Henderson, Tony brings to the table a unique local perspective that continues to serve his clients well.

www.shelterrealty.com

Why Property Management May Be the Best Career Path for Today’s Real Estate Agents

When most people think about a career in real estate, they picture helping buyers find their dream home or negotiating the sale of a property. While sales can be rewarding, today’s market has reminded many agents that relying solely on commissions can create unpredictable income.

That’s one reason more real estate professionals are discovering the opportunities available in property management.

The Market Has Changed—So Should Your Business

Over the past several years, higher interest rates, increased housing inventory, and changing buyer demand have created a more challenging environment for many sales agents. Transactions often take longer to close, and many homeowners who planned to sell are instead choosing to rent their properties until market conditions improve.

This shift has created tremendous demand for experienced property management professionals.

Whether you’re a newly licensed agent or an experienced REALTOR® looking to diversify your business, property management offers an opportunity to build long-term client relationships while developing a more consistent stream of business.

Property Management Is More Than Collecting Rent

Many agents mistakenly believe property management simply involves collecting rent and coordinating maintenance. In reality, professional property management requires knowledge in a variety of areas, including:

• Marketing rental properties.
• Pricing homes competitively.
• Tenant screening and lease preparation.
• Nevada landlord-tenant laws.
• Maintenance coordination and vendor management.
• Property inspections.
• Owner communication.
• Financial reporting and accounting.
• Risk management and asset preservation.

Property managers play a critical role in protecting an owner’s investment while maximizing its long-term performance.

A Different Type of Client Relationship

Unlike a traditional sales transaction that may last a few weeks or months, property management creates ongoing relationships with property owners.

As you continue providing value, many management clients eventually become repeat buyers and sellers. They often turn to the same company when purchasing another investment property, selling an existing rental, or seeking advice on growing their portfolio.

These long-term relationships can create opportunities that extend far beyond a single transaction.

Is Your Brokerage Helping You Grow?

If you’re already licensed but struggling to generate consistent sales, it may be worth asking yourself a different question—not, “How do I find more leads?” but rather, “Am I with a brokerage that offers multiple opportunities to build my business?”

A brokerage with a strong property management division can provide exposure to:

• Investor clients.
• Rental property owners.
• Buyers looking to purchase investment properties.
• Future listing opportunities.
• Referral-based business built on long-term relationships.

Rather than starting from scratch with every transaction, you’re building a client base that can continue to generate business for years to come.

Property Management Is a Career, Not Just a Service

Property management isn’t for every real estate professional. It requires strong communication skills, attention to detail, problem-solving abilities, and a commitment to customer service. But for agents who enjoy building relationships and helping clients protect their investments, it can be one of the most rewarding areas of the real estate industry.

As more homeowners choose to rent instead of sell and investors continue to acquire residential properties, the demand for knowledgeable property management professionals is expected to remain strong.

Looking Beyond the Next Commission

The most successful real estate professionals don’t simply chase the next transaction—they build businesses that create lasting relationships and recurring opportunities.

Property management allows agents to become trusted advisors instead of one-time salespeople. By helping owners maximize the value of their investment properties, you establish relationships that often lead to future sales, referrals, and portfolio growth.

At Shelter Realty Property Management, we’ve built our business around those long-term relationships. We believe the future of real estate isn’t just about selling homes—it’s about helping clients successfully own, manage, and grow their real estate investments. Whether you’re considering a career in property management or looking for a brokerage that offers more than traditional sales, there has never been a better time to explore this growing segment of the industry.

Tony Sena

Tony Sena is broker/owner of Shelter Realty Property Management. For more than a decade Tony and his partners have provided residential real estate and property management services to sellers, buyers, investors, and property owners in the Las Vegas Valley. A Las Vegas native and former police officer for the City of Henderson, Tony brings to the table a unique local perspective that continues to serve his clients well.

www.shelterrealty.com