It’s no secret that much of middle Tennessee is in a robust “seller’s market” – which is generally defined as anything less than six months’ worth of homes available for purchase. In fact, in December of 2021 inventory in Williamson County saw an average of eight short days on the market and less than a one-month supply of inventory. It begs the question: in light of current demand and limited competition, is it still necessary to have an agent list and sell your home? Or can you do just as well with a For Sale By Owner (FSBO) approach?
As a 17-year veteran of this real estate market, I can emphatically state that good representation is often worth far more to a seller than just the commission amount – and here are some real numbers in support of having a professional at the helm.
89% = the number of FSBOs that eventually use a real estate agent. True story – the founder of ForSaleByOwner.com hired an agent after 180 days as a FSBO, and sold his condo for 7.5% more than the asking price!
$46,000 = the average amount a seller will miss out on by not having an agent-assisted sale.
88% = the number of homebuyers that use an agent. The best way to get the most money for your home is to have the perspective of someone that knows what buyers (and their agents) are going to be attracted to in the current market.
1 = the number of times you want your home to go under contract. Even in a seller’s market a wide variety of speed bumps can occur, and if not handled well they can lead to a deal falling apart. Those are the moments when having someone with experience in solving that problem or having those tough conversations with the parties on the other side can make all the difference in keeping a sale on track.
7AM-11PM = an important reality of selling a home. These are the typical hours during which various actions in real estate take place and items critical to a successful sale are being negotiated. You need a full-time advocate managing the buyers, agents and vendors that will be visiting your home and ensuring your contract deadlines are met.
And the strongest argument for having representation is this… even in a hot market your home needs to be priced correctly. Buyers using an agent will be very educated on what a fair market price looks like. And while many sellers are receiving multiple offers at over their asking number, the most likely way to see competing offers starts with a price that makes sense for the area. So if you are considering a sale to capitalize on the continuing high demand for homes in middle Tennessee, you need an experienced REALTOR® who has been highly trained to advise you on the best practices. You’re welcome to reach me at 615-335-3270 or [email protected] – let’s get it right together!
**Sales statistics sourced from National Association of REALTORS®**