NASHVILLE, Tenn. (WKRN) — Real estate wars ramp up in Metro’s brazen bull market.
Data shows there are more real estate agents than active home listings in Middle Tennessee.
“This is the big news right now,” said Brian Copeland, President of Greater Nashville Realtors, when talking about the explosive real estate market in Middle Tennessee.
It seems everyone wants a piece of the pie.
“It’s natural when you’re in a market with a lot of activity that people want to get licensed and participate in that. It seems like an attractive and glamourous career,” Jeff Checko said, who’s been a realtor for 19 years.
Checko said it’s important to remember, not everything is what it seems.
Even salt looks like sugar, but that’s not stopping new realtors from entering the market.
“You make a lot of sacrifices and really have to be available at the drop of a hat and have to be able to manage crisis,” Checko said. “It’s been a great career for me and so many others, but what the data says is it’s been tough to get out of the gates and get established. I think right now given our inventory issues, it’s more of a struggle than its ever been.”
Copeland said Greater Nashville Realtors gained 1,300 members just last year.
As of last check, there were around 4,500 active listings and more than 5,800 realtor affiliate members, up 130 over the past month. Copeland said there are a lot of agents in Middle Tennessee because of the licensing standards. He added it’s a great job to have.
Though many can sell in their sleep, some remain desperate to find listings with Nashville’s lack of housing inventory. Keep in mind, you may be able to negotiate a lower fee when first signing up with an agent, as many are vying for more business.
“We’re seeing unprecedented demand,” Checko said. “We’re seeing inbound relocated from more locations than ever. We’re seeing the least amount of inventory in the shortest market time, and the highest most rapid market appreciation as well.”
Checko said the best realtors rise to the top. They’re ethical, professional, have a lot of education, they know the trends, and they know what’s coming next.
With the glut of agents in the market, how do you choose the right one?
“It’s very important that you as a buyer and seller you’re doing your homework. You’ll want to check google reviews; you’ll want to check online reviews; you’ll want to ask them for a list of sellers and buyers you’ve worked with before,” Copeland said.
Ask how long they’ve been in the business? Are they working the gig full or part time? How many homes have they sold?
Checko said it’s important to look at the experience level, not only with the number of transactions, but also ask if they’ve worked in the area you’re interested.
It’s a wild real estate market. When it comes to agents, the hungry will survive. The weary may not.