When it comes to the perfect real estate sales agent, Memphis is a city to be avoided, especially if you’re a veteran realtor.
For one thing, it’s not known how many real estate agents in Memphis actually have a real estate license, and it’s also unclear whether or not there are any rules about the way they operate.
The real estate market in Memphis is one of the most volatile in the nation.
A recent survey by real estate brokerage Cushman & Frierson said the average sale price for homes in the Memphis area dropped 5.3 per cent last year, the biggest drop in more than a decade.
And it was a big drop, with prices dropping almost 20 per cent from 2015, when the recession hit the region hard.
“It’s just a very volatile market and it seems to be trending downward,” said Mike Cressey, CEO of Memphis-based Cresse Homes.
“There are a lot of different types of people, a lot different types with different budgets.
So, it really depends on the buyer.”
Cressey said he has dealt with a lot more sellers than buyers in the past couple of years, but he does have a few things to say about prospective buyers who are looking to get into the real estate game.
First, the sellers and buyers have to know each other.
“We want to make sure the buyer is aware of the seller, is knowledgeable about the property, is looking for a great deal and is willing to pay a fair price for the property,” he said.
Second, he said the realtor has to be upfront about what they’re looking for.
“That is a lot easier said than done.
It takes time for people to come to terms with the seller and then make an informed decision about the transaction,” he added.
Third, Cressell said it is not always wise to negotiate a price upfront.
“Sometimes it’s a little bit better to let the buyer walk away than to force them to pay up front.
You might end up with a very high price if you go for the first price and then negotiate for a lower price,” he explained.
“It’s a balancing act between letting the buyer leave the property and not getting a better price for them than they bargained for.”
Finally, it might be a good idea to talk to a broker who specializes in property sales and doesn’t have a lot to offer the buyer.
“I don’t think that’s going to help much if you don’t know the seller’s name, so you have to go out and find out,” Cressel said.
“If the buyer really wants to be involved, I would recommend you speak to a realtor who has a lot going on in the real world.
They can help you with everything from how the transaction is structured to what types of taxes are going to be charged.”
While there are many factors that go into the purchase and sale of a home, the bottom line is that if you want to know what to look for in a realtors agent, Cescse Homes has a list of 10 things to look out for.
What kind of properties are being offered?
There are many types of properties in Memphis that are offered in homes for sale, such as condominiums, townhouses and even apartment houses.
There are also lots of rental properties being offered in the area, such a apartments in downtown Memphis and apartments in North Memphis.
What type of agent do they work for?
Real estate agents are usually hired by individuals to help them sell their homes and to represent them in real estate transactions.
But they also work with other properties to help with real estate negotiations and sales.
How much does it cost to buy a home?
According to real estate company Cresses, it is very common for a property to go for between $1.3 and $2 million.
How many brokers are in Memphis?
According a 2017 survey by the Memphis Chamber of Commerce, there are approximately 4,000 real estate brokers in Memphis, representing over 12,000 different businesses.
How do they conduct transactions?
Creses recommends asking your realtor for some of the following things when you are trying to make an offer for a home in Memphis.
“What are the properties for sale?
What type are they?
How much are they asking for?”
“How much do they charge?”
“Are they professional?”
What are the requirements for an agent?
Real Estate agents should be licensed, certified and licensed to practice real estate.
They must also be able to pass the required training and knowledge checks.
What is the real cost of real estate in Memphis right now?
According the Real Estate Council of Greater Memphis, real estate costs in Memphis have increased by almost 30 per cent since 2015, from