Franklin (Franklin, TN)
Franklin (Franklin, TN) Real Estate News
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Should I Choose the Franklin TN Agent Offering the Lowest Commission?
Tammie White, Franklin Homes Realty, Franklin TN ((615) 495-0752 or www.FranklinHomesRealty.com)
You're thinking of selling your Franklin home and not sure the best way to choose an agent. A friend told you to choose the agent based upon their commission rate. The lower the rate, the better for you.On the surface that sounds like a good idea. However, what if the guy who offers the lowest commission doesn't sell your house? Or doesn't sell it for a good price? That reduced commission is meaningless if the agent sells your home for tens of thousands of dollars less than you anticipated.Should I choose the Franklin TN agent offering the lowest commission?While you may consider commissions an important part of the elimination process, there are other things to consider when hiring a real estate agent to sell your Franklin home. Things you may want to know prior to hiring an agent: How long has he sold residential real estate? Is it his full-time job? How many homes did he sell last year? How many in your neighborhood? What was his average list price to sales price ratio over the last year? What is your market average? What are his average days on the market? What is your market average? Does he primarily work with sellers or buyers? How familiar is he with your neighborhood? What forms of marketing does he use? Does he have his own website or use a brokerage website? Does he use social media? If so, what sites? Does he use a professional photographer for listing photographs? Does he use video or drone photography? Will he provide staging assistance? Does he have regular service providers to help with home repairs? What forms of communication will he use? How often? Will he provide showing feedback? How many people are on his team? Will you be contacted by a team member or him? What price does he recommend? How did he determine that? What percentage of his listings expire? Does he practice Dual Agency? What is his business philosophy? Can he provide references? Your home is the most valuable asset you will ever own. Don't make a hasty judgment when choosing a listing agent. There are many things to consider. An agent who offers a reduced commission but sells your home for significantly less doesn't save you any money at all.Should I choose the Franklin TN agent offering the lowest commission? Be sure to hire the agent who can get your Franklin home sold in the least amount of time for the most amount of money. That agent will be worth every dollar you pay him in commissions.  Tammie White, Managing Broker/Owner Franklin Homes Realty LLC www.FranklinHomesRealty.com GET REAL. GET LOCAL.This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
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What are Performance Dates in Tennessee Real Estate Contracts?
Tammie White, Franklin Homes Realty, Franklin TN ((615) 495-0752 or www.FranklinHomesRealty.com)
A Tennessee Purchase and Sale Agreement is a legally binding contract for the sale of residential property. Within that contract are specific performance dates including loan application deadlines, home inspection deadlines, resolution of repair deadlines and closing deadlines. These are referred to as contract performance dates. You will often hear real estate agents say, "Time is of the essence." This is especially true when adhering to contract performance dates. When items are not performed by the specified date or deadline, there are consequences. Some consequences are more harsh than others. The worst being the contract becomes null and void.These performance dates have been created for a reason. They are not to be taken lightly. Real estate agents and their buyers and sellers must know their performance dates and comply with those dates.I have been fortunate to work with real estate agents who closely monitor performance dates. Until this week, that is. Two weeks ago, we were supposed to close on a property. I was representing the buyers. Unfortunately, we ran into title issues. The sellers requested four additional days to resolve the problem. They needed to get Quit Claim Deeds signed. We granted an extension and I prepared the Closing Date Revision Amendment. After four days, the sellers realized it was going to take longer than anticipated so they asked for five additional days.Five days later, when we still hadn't closed, the sellers asked for yet another extension. My buyers were beginning to think this purchase was not going to be resolved to their satisfaction. They granted the seller another five days, however, I informed the agent if we couldn't close by 7/7, I wasn't sure what my clients would do. Once again, I prepared the extension.On 7/7, the sellers still had not been able to present a clear title. A new property had just come on the market and my buyers quickly asked to see it. In the meantime, not a word from the listing agent. Up until this point, I had been completing all the extensions., even though, this was his listing.Since my clients had decided to find another property, I didn't contact the agent. We were just going to let our extension expire. In this case, that meant that our contract would be null and void. The buyers could freely walk away from the purchase and be reimbursed their earnest money because the sellers had not provided clear title to the property.At 9:15 p.m., I received a text from the listing agent asking, "What's going on?". I didn't even respond. I completed the Mutual Release of Purchase and Sale Agreement and Request for Earnest Money Disbursement and forwarded it to him. I didn't hear a word from him until 11:30 the next morning when he sent me a text that they were ready to close. Too late. My client had already written an offer on another property. The buyers had no intention of buying the first house.The listing agent had not taken any steps to protect his sellers. I had completed all the extensions. He should have prepared an extension and sent it to me. He did not. He should have been calling me earlier in the day to try to offer some compensation to keep my buyers interested. He did not. When he realized the next day that we weren't going to close, he tried to strong arm me into thinking he could force us to close. Fortunately, I know Tennessee contracts well and knew that we would prevail. Besides, I had spoken to the attorney a day earlier and had informed him of my client's decision. He had already confirmed the buyers were entitled to a return of their earnest money. The listing agent had to inform his sellers that he had dropped the ball.I wish I could say this was the only time this has happened. Unfortunately, I had a very similar situation later in the week with one of my listings. A buyer was refusing to sign a Repair Amendment. Her agent had left it until the last day, even though, I had sent her the document earlier in the week. There we were at 11 p.m. completing an extension of Resolution Period to satisfy a buyer who had been neglected by her agent. In that case, we extended the Resolution Period for a day so the buyer's agent could speak to a home inspector.Had the agent taken the time earlier in the week to do this, we would not have been signing documents in the 11th hour, especially, given that the buyers had been granted a 14 day inspection period and 5 day resolution period.What are performance dates in Tennessee real estate contracts?Performance dates in the Tennessee Real Estate Contract are important. They are designed to protect buyers and sellers. They shouldn't be neglected or left to expire. All parties must be aware of the dates and make sure the corresponding documents have been properly signed. When they have not, you may wake up to realize that the contract is null and void and you haven't sold your house after all.Photo courtesy of freedigitalphotos.net/nongpimmy Tammie White, Managing Broker/Owner Franklin Homes Realty LLC www.FranklinHomesRealty.com GET REAL. GET LOCAL.This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tomwhite
Franklin TN Condo and Townhome Market Trends--July 2015
Tom White, Franklin Homes Realty--South of Nashville TN (Franklin Homes Realty LLC (615) 870-8169 or www.FranklinHomesRealty.com)
Franklin TN Condo and Townhome Market Trends --July 2015What's happening in the Franklin TN Condo and Townhome market? The best place to start is to look at a current market report. Let's see what happened in Franklin TN in June 2015.Active condo/townhomes listings: 72Of those units currently on the market, the number under contract: 14 Properties closed in June : 29 Average sales price: $278,072 Average list price: $283,065 Average sales price to list price ratio: 98.2% Average days on the market: 46 Average per SF sold price: $175.33 Lowest per SF sold price: $121.74 (Regency Square) Highest per SF sold price: $253.33 (Grant Park)To determine whether it's a buyer's or seller's market, REALTORSĀ® use something called absorption rate. If you take the current inventory of 72 homes and divide that by last month's closed sales (72/29) you get 2.48 months. That means if the current inventory stayed the same, it would take around 2 1/2 months to sell all the existing homes.  A normal or steady market would be 5-7 months; anything under 5 months would be considered a seller's market; anything over 7 months would be considered a buyer's market. The Franklin TN condo and townhome sales for June 2015 reflect a very strong seller's market. The demand for affordable housing continues to drive the condo/townhome market upward. In fact, Franklin TN, has been in a strong seller's market for the past couple of years. So, what do those numbers mean to buyers and sellers? If you are a buyer in this market, housing prices are continuing to rise in Franklin TN. You can expect competition for exceptional homes that interest most buyers. In fact, many homes go under contract the same day as they first appear in the MLS. Whether you are buying new construction or an existing home, it is extremely important to enlist the aid of an experienced buyer's agent to help you get an accepted offer on the condo or townhome you desire. If you are thinking of selling your home,  NOW is the time to get your home on the market. Why wait when this is the time that most Condos and Townhomes are sold in Franklin. When you are ready to buy a Franklin TN condo or townhome, or sell your existing Franklin home contact Tom White of Franklin Homes Realty LLC at (615) 870-8169. Tom White, REALTORĀ® Franklin Homes Realty LLC (615) 870-8169 www.FranklinHomesRealty.com This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tom White is subject to copyright infringement and possible lawsuit.
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Want to See a Franklin TN Home for Sale? Schedule an Appointment
Tammie White, Franklin Homes Realty, Franklin TN ((615) 495-0752 or www.FranklinHomesRealty.com)
Monday, I spoke with a woman who was standing in front of a condo development. She had seen three condos online that were for sale and she wanted to get in to see them. I was sure these units were already under contract and upon checking the MLS, that suspicion was confirmed.She said she'd just seen them the day before online. How could they already be under contract?I explained that just because she'd seen them online, didn't mean they were still available. Move-in ready townhomes are selling quickly. It was best to call prior to making a trip to the development.I agreed to send her listings that were currently available. She was to review them and then we'd schedule an appointment later in the week. While at a final walk-through yesterday my phone rang. I never answer my phone when I'm with another client, so I let it go to voicemail. When my buyer decided to walk the exterior of the house to take some photos, I took the opportunity to listen to the message.The caller was the same woman I'd spoken to the day before. As I listened to the message, I couldn't believe what I was hearing. "Tammie, I'm standing in front of __________ townhomes. You sent me these listings and I was hoping you could meet me here." No advance notice or appointment. Just I'm in front of the townhome now. I sent a text back to her that I was at a final walk-through. From there, I was going to a closing. Then I had an appointments at 1, 3 and 5 p.m. Today wasn't a good day to meet. Possibly tomorrow.Why this woman continues to drive to these developments without making an appointment is beyond me. Sellers occupy these homes. Many listing agents use showing centers and it may take hours to get a showing confirmation. If you are a buyer and want to see a Franklin TN home for sale, then schedule an appointment. We can't just walk up to the door and expect that sellers are going to let us in. Personally, I like to schedule appointments a day ahead of time. That gives the seller plenty of notice and I can schedule around other appointments I may already have.Our housing market is moving quickly right now and I understand you're desire to get into a home. I can usually make that happen for you. However, don't drive to a listing and then call me while you're sitting in front of it and expect that I can meet you there. Not only do I have many clients and a busy schedule, but sellers expect appointments be made at least two hours in advance.Want to see a Franklin TN home for sale? Schedule an appointment. Better yet, let's meet for a buyer's consultation so you are prepared to write an offer when the right house comes on the market. Tammie White, Managing Broker/Owner Franklin Homes Realty LLC www.FranklinHomesRealty.com GET REAL. GET LOCAL.This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
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Franklin TN Home Sales From 2 Years Ago Aren't Relevant
Tammie White, Franklin Homes Realty, Franklin TN ((615) 495-0752 or www.FranklinHomesRealty.com)
The other day I met with a couple who are looking to buy a Franklin TN home. They are moving into the area from a location just outside Williamson County. Some of these areas aren't performing as well as the Franklin market.We discussed the need to sell their home prior to buying another and scheduled a listing appointment for later this week.Last night, I received an email from them stating they wanted to see the comparable home sales in their neighborhood for the last two years. Home sales from two years ago aren't relevant. Housing markets go up and housing markets go down. What the housing market was doing two years ago isn't crucial to pricing your home today.Appraisers will only use data from the last six months. Many are most concerned about the sales within the last 90 days. They understand some markets are on the rise, while others are trending down. Sales from six months ago may not even apply any longer.When I prepare a competitive market analysis, I will go back six months to study those sales but I'm most interested in sales completed within the last 60 days. That is a much better indication of OUR market.I'm less concerned where other homes in the neighborhood are priced. These are UNSOLD homes that may have been on the market for months. I am only interested in SOLD homes. Those are the homes that were priced right and were able to successfully make it to the closing table.THAT'S WHAT SELLERS NEED TO KNOW! Which sellers priced their homes right.The sellers who priced their homes wrong learned a valuable lesson--where not to price your house. That's a lesson we don't want to learn. Instead, we want to learn from their mistakes, not make our own.Are you surprised that I'm saying the sellers priced their homes wrong? You see, I don't price your house. I review the recent sales. I suggest a range based upon those sales. Ultimately, the seller chooses where to price his house.My job is to market your house, not price it. The person who actually determines the value of your home is the buyer. Buyers are always the ones to determine value. They decide what they are willing to pay for your house. No one else. So I won't be bringing two years of data to the appointment. The information I present will be valuable to you but it will reflect recent home sales. Because that's all that really matters.Franklin TN home sales from two years ago aren't relevant!  Tammie White, Managing Broker/Owner Franklin Homes Realty LLC www.FranklinHomesRealty.com GET REAL. GET LOCAL.This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
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Franklin Homes Realty: We're Marketers, Not Salesmen
Tammie White, Franklin Homes Realty, Franklin TN ((615) 495-0752 or www.FranklinHomesRealty.com)
My husband and I don't watch much TV. However, every summer we pick a TV series that has completed its run and watch it. It's usually seven years of programming in one summer. It's our guilty pleasure.This summer, we chose Mad Men. For those of you who don't know the series, the show is about an advertising agency in the 1960's. We're really enjoying it.Today as I was reading the featured post, 9 Ways to Succeed in Real Estate, this TV series came to mind. Fred's post has some excellent points on how to succeed in real estate. Many of which I agree with. However, I disagreed with his very first statement: You are in Sales - know how to Sell.Consumers typically think of salesmen as people who are trying to sell them a product they don't want or don't need. That's NOT how we want them to think of us. When they think of us, we want their thoughts to be positive, not negative.The men and women who work in advertising aren't salesmen. They are marketers. And when they market their products well, the companies who hired them, will see a spike in sales. So you don't have to be a salesman to sell a product. At Franklin Homes Realty we're not salesmen, we're marketers. When we've done our job well, the product will sell. Our product happens to be Franklin TN homes. Smart sellers choose us because of our excellent promotion of their home. Smart buyers choose us because of our excellent knowledge of the product.When you look at our website, you won't see us promoting one house over another or one neighborhood over another. Instead, we promote all the houses and neighborhoods in our area. Consumers choose to use us because of our excellent promotion of the product.The other day, we met with a couple who are looking to sell their house in Nashville and buy a home in Franklin. They called us because we provided them with information that no other agency is providing. Since they don't know the Franklin area well, they need someone who can help them find the right house and neighborhood. We didn't have to really sell them on anything. We marketed our area well and they called us.When we're working with buyers, you won't ever hear us try to SELL them on a home. We will point out the pluses and the minuses of each house. We may even tell them that a home meets the majority of their criteria. But ultimately it's their decision on which house to buy.When we're working with sellers, we will promote the pluses of their property. We'll stay clear of the minuses; that's not our job. (Don't be confused here, all adverse defects will be disclosed to buyers as required by law.) We'll create a demand for that house by choosing a feature that we believe buyers desire. We'll take that feature and run with it in the marketing of our seller's home. Buyers will realize they can't live without that feature.That's how we differentiate ourselves from other agencies When you're ready to buy or sell a Franklin TN home, call Franklin Homes Realty. We're marketers, not salesmen.Photo courtesy of freedigitalphotos.net/renjithkrishnan Tammie White, Managing Broker/Owner Franklin Homes Realty LLC www.FranklinHomesRealty.com GET REAL. GET LOCAL.This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
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What Are Pet Owners to Do Who Are Selling Their Franklin TN Home?
Tammie White, Franklin Homes Realty, Franklin TN ((615) 495-0752 or www.FranklinHomesRealty.com)
It's the summer months and you're trying to sell your house. You're also a pet owner and outdoor temperatures are too high to leave Fido in the yard. As a cat owner, you're worried an agent showing your house will let Muffy out and then you'll never see her again. As a dog owner myself, I understand your dilemma.What are pet owners to do who are selling their Franklin TN home?Here are some tips:1.  The very best thing to do is ask someone else to care for your pets while your house is for sale. Some sellers will board their pets or ask a relative, neighbor or friend to care for them. Given our current market, it may only be a week or two and your house could be under contract. Once that happens, the showings will stop and you can bring your pets home.2.  Crate your pets when you leave your home for showings. This way you don't have to worry about someone accidentally letting your pet outiside. This is especially true for cats who can dart past us so quickly. Agents don't usually have the time to search for your escaped pet.3. Confine your pet to one room in the house when you leave; a laundry room, mudd room, garage or storage room. Be sure if you leave them in a garage, they have plenty of water.4.  Take your pets with you during showings. While appointments are usually scheduled for an hour in our area, some buyers may be in and out. Take your dog for a walk or load your cat into the car and wait down the street. When the buyers leave, you're free to enter. 5. If all else fails and you have a friendly dog or cat, let them roam the house as they usually do. This isn't the best option but it's certainly better to allow a buyer to see your house, than not.Whatever you do, DON'T DECLINE A SHOWING BECAUSE OF YOUR PETS. I know home sales are very brisk in the Franklin area but the longer your house sits on the market, the more difficult it becomes to sell. It may be an inconvenience for a few weeks to work around showings with pets but once your house is under contract the showings will cease.Restricting your showings to certain hours or days because of your pets, could cost you the sale of your home. Don't do anything that would hinder that.When you're ready to sell your Franklin TN home, contact Franklin Homes Realty LLC at (615) 495-0752. We'll do our best to get you and your pets into a new home. Tammie White, Managing Broker/Owner Franklin Homes Realty LLC www.FranklinHomesRealty.com GET REAL. GET LOCAL.This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
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