We recommend having your home in the best condition as possible. That means, the lawn should be mowed, front porch is swept and fresh looking, all clutter should be cleared out, and the needed repairs should be addressed. Take down personal family photos and mementos. You want to ensure that all potential buyers can envision themselves living in the home, which probably means you will need to take down the college posters and box up Nana’s crochet collection.
That depends! A ton of factors come into play here. If you price your home too high, it could sit indefinitely. The market drives how fast your home will sell, if there is too much inventory or a lack of inventory, the demand and prices will change. Nashville is continuing to grow at a strong rate and your agent discuss your specific situation and timeline with you.
Unlike Zillow, your agent will do an in-depth market analysis to price your home properly. Your home’s size, condition, and features will be compared to other comps in the area to see what homes like yours are selling for. Comps, or comparable sales, are homes that have sold near your home in the last year and are comparable in size, condition, and features. These comps are the same pool of data that appraisers will see and use when determining value in an appraisal. We will set a list price tied to those closed sales comps. Once we list the house, the offers received will reveal what your home is worth. The market determines the value, a house is worth what someone will pay for it.
Better question – what won’t we do to sell your home? Just kidding! Your home will be marketed on the regional Multiple Listing Service, RealTracs, which syndicates to over 30 sites including sites like our preferred agent Zillow account, Trulia, Redfin, Realtor.com. We will showcase your property on social media and ensure you are getting excellent exposure as well as private networking Realtor groups on FB and social media. Open houses and Broker tours allow many opportunities to get the word out. Each property is a little different, so each home we list has its own marketing plan. Want to learn more? Give us a call!
This is one of the most important reasons to list your home with a professional REALTOR. The last thing you want to do is let a bunch of random strangers lookie-loo around your home, wasting your time and putting your safety at risk. We schedule showings only with qualified buyers that have the ability to purchase your home. All buyers will be accompanied by a licensed real estate agent, and all showings are carefully tracked so we know who is in your home and when.
How would you feel if you fell in love with the home of your dreams, only to find out the bank won’t give you a loan for it? Pretty terrible, right? We want to prevent any unpleasant surprises, so we require that buyers get pre-approved before scheduling showings. Also, most sellers won’t accept an offer from you without the pre-approval letter. Getting pre-approved is actually a pretty simple process that can be done online in most cases. We have a list of great lenders you can reach out to if you don’t already have someone in mind.
You don’t NEED a REALTOR to buy a home, but you also don’t NEED a trained hairstylist to cut your hair, or an electrician to fix your wiring. Having a professional real estate professional on your side is a great idea, whether you are a first time buyer or have purchased numerous homes in the past. Your agent is your advocate and will look out for your best interests during negotiations, inspections, and even making sure all the agreed details are on the final closing statement. Our agents are plugged into the real estate in Nashville. We have a rich history of contacts dating back to 1999 in the Nashville real estate community and know about both on-and off-market opportunities. Plus! Using an agent to buy a home is free to you! Win-win!
In nearly all real estate transactions, the seller pays the commission. The seller pays the listing agent a commission and the listing agent offers a “cooperating compensation” to buyers agents to entice them to show the home to their buyers.
However many necessary! That could be anywhere from 1 to 100. Most buyers decide on a home after just a few showings, and it is recommended to not try to look at too many homes. At some point, they all run together and too many options can be overwhelming. Make a list of needs and wants with your agent and try to find a home that fits those criteria in your price point and location.
The cost to purchase a home is more than just the purchase price and loan costs (if you are getting a loan). After we come to an agreement on the terms of the property (purchase price, closing date) we enter the “due diligence” phase of the contract where you fact find about the house with inspections and appraisals. Unless you are an investor with years of experience remodeling homes (or are working with us as an investor to learn) you will want to hire a professional home inspector to review the home’s condition prior to purchasing. The inspector will look at the entire home and point out potential issues. Your contract will allow you anywhere between 7 and 10 days typically to complete all your due diligence/inspections. The typical traditional home inspection by itself runs around $500. You can pay for as many additional inspections as you would like such as radon, pest/termite, a survey, and much more. Appraisals are required when getting a loan, this will be paid to a third party appraiser before you buy the home and they typically cost between $400-$600. These out of pocket expenses and there to make sure you are buying a home that is worth what you agreed to pay and the condition you agreed to purchase it for. Lastly, earnest money is trust money put down after a contract is accepted, typically 1-2% of purchase price that is held in escrow until closing and comes off your bottom line.
Our fee is 10% of all non-refundable fees/rent we collect on your behalf. We charge a leasing fee- which is a percentage of the first month’s rent. This leasing fee is charged for the work prior to collecting the rent. The leasing fee is earned by marketing, showing/answering inquiries, screening, researching and documenting, the fully qualified tenant using our tenant stability profile algorithm. We do not charge a fee on top of maintenance repairs or mark up repairs. All repair expenses are fully disclosed prior to initiating and disclosed on your monthly escrow distribution statement with receipts placed in our shared cloud file. We do not collect a percentage on refundable fees like tenant security deposits.
We keep diversity with the range and scope of our vendors and subcontractors. We feel it helps keep our pool of “go to” guys competitive in their pricing and eagerness to call us back first. We have a variety of licensed and insured interior and exterior vendors and subcontractors who we call on in various trades.
Our company does not mark up any repair invoices. We do not make a profit on top of the cost of the repairs we arrange for your property. When we hire someone to repair your property, we include a copy of that invoice for your cloud based digital file and we pay the repair company on your behalf and deduct that exact amount from your rental income in that month’s statement. As far as larger renovation projects, we are happy to arrange and manage any needed improvements or renovations and will be discussed in a separate agreement.
As a licensed Broker, we adhere to the TREC laws of fiduciary requirements and escrow. In addition to the law of our state licensure, we understand that to maintain the level of trust you place in us requires transparency. Our Escrow account is in a FDIC insured non interest bearing account and your balance is available to you whenever you would want to review. Your monthly statements will show all income and expenses collected and paid on your behalf. This statement, along with your distribution each month will arrive between the 15th-20th of each month for long term rentals (pending your tenant is timely with their rent payment)
This is not a fun topic, and has been a challenging one through the pandemic eviction moratoriums. We are proud to say that we have had 98% on-time rent payments during the pandemic. Although we are not lawyers, we are very familiar with the Uniform Landlord Tenant Act (ULTA) and can help you make decisions if a bump in the landlord road happens. With your authority, we can file evictions in General Sessions court on your behalf and follow up on those decisions and deadlines. To avoid this most unpleasant process as much as possible, we commit to finding tenants with an extremely high score on our proprietary Tenant Stability Profile screening. An empty rental or a tenant that is not paying means you don’t get paid and therefore we don’t either. We have developed a detailed application that investigates not only rental history and employment but overall financial health, background and criminal checks.
We are a management company that is present. We show up in person to represent you and your high standard. This is not a “set it and forget it” relationship. In the case of long term rentals, we hand over the property to the Tenant with every light bulb lit and every HVAC filter changed to qualified tenants who have a proven track record for being good tenants. The most important part of the relationship begins with who we select to place in your property. Annual inspections are $300 and include a formal walk through of the property with a licensed home improvement contractor included with all lease renewals (those staying past our standard 12 month lease) We perform a 6 month informal walk through at no charge and additional walk throughs can be negotiated. Relationships and strong communication between our tenants yield many 5-star ratings and happy tenants who feel that we are taking care of their needs while they take care of the property.
This is where the rubber meets the road with long term rentals. This process can be tricky or super smooth depending on the expectations we have set on the front end with your tenants. We begin communicating with the tenant about their “exit” process at least 90 days prior to the end of their lease. We continue to communicate with them every step of the way explaining exactly how the property needs to be returned to us; clean, undamaged, and ready to re-rent as quickly as possible. We don’t ask tenants to paint walls before moving out (seriously, not a good idea…that should be left to professionals) and we expect normal wear and tear. The way we can be concrete about move out expenses is with our signed “Security Deposit Agreement” and the photo/video documented walk through prior to the Tenant taking possession. These pre-move in photos/video allow us to be detailed in the move out process, and charge line item costs for each dirty microwave or broken cabinet handle. The costs associated with debris removal, deep cleaning or repairs beyond normal wear and tear should never land on the Owner. We are here to maximize the chances of that not happening to you by communicating clearly with the Tenants.
We are licensed and insured Real Estate Brokers and Affiliate Brokers in the State of Tennessee. We are licensed to engage in the business of buying, selling or renting property in the State of Tennessee. We have over 20 years of experience in buying, selling, renovating, renting and managing property in Nashville. We are members of The National Association of Realtors (NAR), the Tennessee Association of Realtors (TAR) and the Greater Nashville Realtors (GNR). We are members of NARPM -National Association of Residential Property Managers and subscribe to a code of ethics above and beyond industry standards. FIRM# 263417 Broker license #290497 Insured in Real Estate Services and Property Management.
Yes! Our extensive experience with renovating homes and property management makes us a great resource when learning about investing in real estate. We can help you whether you are wanting to learn how to “flip” homes or just buy homes to rent.
The last thing we want to do is collect your application fee and run your credit without first having a conversation. We want to be as transparent about our requirements and you to tell us about your situation to make sure that it matches the minimums required prior to submitting an application and paying the fee. This will speed up the process and prevent unnecessary pulls to your credit or wasted application fees. We do not accept applications until a prospective tenant has toured the property in person or virtually. Our application process includes a credit check, background/felony/sex offender check, two years of required rental references, 2.5-3 times the rent in minimum household income (pay stub, employment verification, or tax returns). The application fee is $50 per adult and each occupant must pay the fee. Some of our properties require a 700+ credit score but the average required credit score is 650+. Some of our properties charge a credit contingency fee if your score is between 600-650 and we can discuss your specific situation.
Our available rentals are fluid and change regularly. Additionally, some of our landlords prefer we keep our listings private. Please use the contact form to reach out to us and we will let you know what we have available in your price range and location.
Good question! That will depend. Some of our properties require the tenant to perform the lawn maintenance and some do not. Some of our properties even include all utilities! We will also discuss our Tenant Benefits Plan with you. The “Tenant Benefits Plan (TBP)” includes an “all in” utilities and technology package. The TBP properties include all utilities (Wi-Fi, water, trash, pest and electricity) as well as an equipment and entertainment package including a smart TV, one year of Amazon Prime, Amazon Echo Dots, and even Ring video door bell/ security equipment add on options. We truly believe that when we approve a Tenant with Sound City Realty that we are entering into a partnership to best care for the property so that we can care for them while they live in the property – we have as many 5 star reviews from our tenants as our property owners!