SELL WITH JOHN
John is a professionally trained negotiator. He has the experience and expertise to put almost any deal together and complete the transaction.
John works with the best local vendors to market your property with state-of-the-art technology. We can create:
1) 3D Virtual Tours
2) Aerial Drone Videos
3) HD Photography
4) Virtual Enhancements (Virtual Staging)
5) Complete Floor Plans
6) Guided Tours
John also conducts marketing campaigns via, Social Media, Google Ads, YouTube Videos, MLS, Zillow, Realtor.com, Redfin, Email Blasts to Buyers in Our Network, and more!
What Is a Traditional Sale?
With a traditional sale, a real estate agent will advertise your property and wait for buyers to make an offer. Interested parties will then look at your home or property to see if it meets their needs.
Several prospective buyers might end up tendering you an offer through your agent to buy, which you can then accept, modify, or reject. Once an offer has been accepted, you will close on the property.
The closing usually takes place within 30 days after accepting an offer. During that waiting period, the buyer must complete their financing arrangements. Your property’s title deed is checked to ensure that it is clear, while the property itself may need to be inspected for any issues.
What are the Costs of a Traditional Sale?
The average real estate commission in Tennessee for a traditional sale is 6% of the sales price. The 6% is usually divided between the Seller’s Broker and the Buyer’s Broker. The seller is usually responsible for this fee, which gets deducted from their sale proceeds at closing. For example, you’ll pay $10,400 when your property sells for $200,000.
Pros and Cons of Selling a Property at a Traditional Sale
Pros
1) You’ll attract multiple buyers.
The main advantage of selling your property the traditional way is attracting a lot of buyers. The more people that see your property, the more likely it is to sell. You’ll also be able to choose the person you want to sell your property to.
2) You should get your asking price.
If the market is good, you should get your asking price or close to it. You will also have a better feel for how much you’re willing to negotiate.
Cons
1) You’re at the mercy of the market.
If prices in your area are low, you’ll be lucky to get the asking price. If those depressed prices continue, you may be forced to pull your property from the market and try again later.
2) It could take a lot of time.
Finding the right buyer can sometimes mean waiting for several months. If the property is vacant, you’ll still be required to perform property maintenance without earning rent revenue to offset those costs.
3) Agents can be hit or miss.
Not all real estate agents are created equal, while some can complicate your life more than others. If your agent isn’t doing a good job, you may find yourself working overtime to pick up the slack.