An Agent’s Perspective
We spoke to fellow investor/Real Estate agent, Jennifer Hamrick to gain her perspective on the current Nashville Real Estate Market.
How did you get started in real estate?
I started in Real Estate in Nashville after moving from SC. I left my job there and did not have a plan of what my future may bring. After arriving here and much consideration I decided real estate was the path I wanted to take. Going into real estate had crossed my mind several times in the past because it was a way to help people and use my business skills. When I moved here, I did not know anyone in the area outside of the one friend and her family that had convinced me to make the move. I instantly fell in love with the area and got out to meet people.
What’s your favorite neighborhood in Nashville?
I love most the architecture of the homes in Green Hills but I love 12th South because you can walk to some of the best restaurants, the park, and boutiques.
If you had to sum up the current market conditions, how would you describe them?
CRAZY! The Nashville market is lacking in inventory and that makes it hard for buyers to find a home. We are currently experiencing so many showings on homes and multiple offer situations. As a buyer you most likely have to go over asking price and have a clean offer to get into a home.
Do you have any tips for buyers in this market?
Continuously look for coming soon’s and schedule showings. Once it hits the market be one of the first ones in the home and submit the offer asap. Offer the price that you will be okay with if you lose it. It is not just about price. Look at the contingencies are they any you are okay letting go? Look at the earnest money amount. This helps to show the seller you are interested and ready to put some skin in the game. Have your agent speak with the seller’s agent and see if there is something particular that the sellers want in an offer. Maybe a closing date is really important to the seller. Putting that date may make your offer more appealing. Escalation clauses are an option. Some people love them and others do not but it is a great way to put in your highest offer without over paying.
What’s something you didn’t expect to learn in your experience as an agent? There are so many things! Insanity can show up in many forms, lol. I know working with the public can be difficult and I experienced so many things in my past years in business and the social work field but the stories just keep on coming. Who knew water could magically appear in homes or that you may need a tetanus shot if you get bit by an evil monkey while showing a home?
We are therapists, extreme marketers, negotiators, and sometimes house cleaners along with maintenance. REALTORS do it all!
What advice would you give to new agents?
Proper training is of the utmost importance. Go to any and every training you can. Agent’s you work with will appreciate you taking the time to learn and not relying on them to get through the transaction. Your knowledge will not only help your clients but also put you on the path for continued success.
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