Selling a house is a significant decision, and for many homeowners in Knoxville, Tennessee, listing their property with a real estate agent is one of the first steps they consider. While real estate agents can offer professional guidance, market expertise, and a well-established network of buyers, it’s essential to know what to expect from the process. Whether you’re selling a home to upgrade, downsize, or move to a new location, understanding the ins and outs of listing with an agent in Knoxville can help you set realistic expectations and make informed decisions.

This comprehensive guide covers the entire process, from signing with an agent to closing the deal, so you can know what to expect every step of the way.

1. Choosing the Right Knoxville Real Estate Agent

The first step in listing your house with a Knoxville real estate agent is choosing the right one for your needs. Not all agents are created equal, and it’s vital to do your homework before deciding on who will represent you in the sale.

Things to look for in a Knoxville real estate agent:

Local expertise: An agent who knows the Knoxville market inside and out will be better equipped to price your home appropriately and attract potential buyers.
Track record: Look for an agent with a proven track record of selling homes similar to yours in the Knoxville area.
Communication style: You’ll want an agent who listens to your needs, answers your questions promptly, and keeps you informed throughout the process.
Marketing strategy: Ask the agent how they plan to market your home. A good marketing strategy includes professional photography, listing on multiple platforms, and possibly even staging your home to appeal to potential buyers.

2. Setting a Competitive Price

One of the most critical aspects of selling your home is pricing it correctly. Your real estate agent will conduct a Comparative Market Analysis (CMA) to help you determine an appropriate asking price based on current market trends, the condition of your property, and recent sales of similar homes in Knoxville.

Pricing too high vs. too low:

Too high: Pricing your home above market value can cause it to sit on the market for an extended period, leading potential buyers to question if something is wrong with the property.
Too low: While pricing your home lower than market value can attract more buyers, it might lead to you leaving money on the table.

Expect your agent to advise you on the best price range, balancing competitive pricing with maximizing your returns. Be open to their suggestions but also ensure that the price aligns with your financial goals.

3. Preparing Your Home for Listing

Once you’ve signed with a Knoxville real estate agent and set a price, the next step is preparing your home for the market. This is one of the most crucial steps in ensuring your home sells quickly and for a good price.

Steps to prepare your home:

Declutter: Remove personal items and excess furniture to make the space feel larger and more inviting.
Deep clean: A clean home will make a much better impression on potential buyers.
Repairs: Fix any noticeable issues, like leaky faucets, broken tiles, or peeling paint. These small repairs can make a big difference in the overall appeal of your home.
Staging: Some real estate agents will recommend professional staging to show off your home’s best features. This involves arranging furniture and décor to make the home look as attractive as possible to buyers.
Curb appeal: First impressions matter, so make sure the exterior of your home looks its best by trimming bushes, mowing the lawn, and possibly painting or power-washing the exterior.

4. Marketing Your Knoxville Home

Once your home is ready to hit the market, your Knoxville real estate agent will begin marketing it to potential buyers. A strong marketing strategy is essential to attracting attention to your listing and getting people through the door for showings.

Marketing methods include:

Professional photography: High-quality photos are a must in today’s real estate market. Buyers often start their search online, and excellent photos can make a huge difference in how your home is perceived.
Online listings: Your home will be listed on the Multiple Listing Service (MLS), Zillow, Realtor.com, and other popular real estate platforms.
Social media marketing: Many agents use social media platforms like Facebook, Instagram, and Twitter to showcase properties and reach a broader audience.
Open houses and showings: Your agent may schedule open houses to invite multiple potential buyers to view the home at once, or arrange private showings for interested buyers.

5. Showings and Open Houses

Once your home is listed, be prepared for showings and open houses. These are key opportunities for buyers to see your home in person and decide if it’s a good fit for them.

What to expect during showings and open houses:

Flexibility: Be prepared to accommodate last-minute showing requests. Buyers may want to see your home on short notice, and being flexible can increase your chances of receiving offers.
Clean and tidy: Keep your home clean and tidy at all times during the listing period so it’s always ready for a showing.
Leaving the property: It’s usually a good idea to leave the property during showings to allow potential buyers to explore the space comfortably.

6. Receiving Offers

If your home is priced right and marketed effectively, you should start receiving offers. Your agent will help you evaluate these offers and negotiate the best deal on your behalf.

When evaluating offers, consider:

Price: Is the offer close to your asking price, or will you need to negotiate?
Contingencies: Common contingencies include inspections, financing, and the sale of the buyer’s current home. Your agent will help you weigh the risks and benefits of these contingencies.
Closing timeline: Does the buyer’s proposed closing date align with your needs?

Your agent will work with the buyer’s agent to negotiate any terms, and once you’ve accepted an offer, the process moves to the next stage.

7. Home Inspections and Appraisals

After you accept an offer, the buyer will likely schedule a home inspection. This is a standard part of the home-selling process, and it’s designed to identify any issues with the property that might need to be addressed before the sale is finalized.

Home inspection expectations:

Inspection report: After the inspection, the buyer will receive a report detailing any issues found. They may request that you make repairs or offer a credit to cover the cost of repairs.
Negotiations: Your real estate agent will help you negotiate any repair requests or credits. In some cases, you may agree to make minor repairs, while in others, the buyer may accept the home as-is.

If the buyer is obtaining financing, the lender will also require an appraisal to ensure the home is worth the agreed-upon purchase price. If the home appraises for less than the purchase price, you may need to renegotiate with the buyer.

8. Closing the Sale

Once the home inspection, appraisal, and any necessary negotiations are complete, you’ll move to the closing stage. This is when the final paperwork is signed, and the property officially changes hands.

What to expect during closing:

Final walkthrough: The buyer will usually conduct a final walkthrough of the property to ensure that everything is in the agreed-upon condition.
Closing costs: As the seller, you’ll be responsible for paying some closing costs, which typically include agent commissions, title insurance, and taxes.
Signing documents: You’ll sign the deed and other closing documents, and the buyer will sign their financing paperwork.
Payment: Once the sale is finalized, you’ll receive payment for your home, minus any outstanding mortgage balances and closing costs.

9. Agent Commissions and Fees

When listing your home with a Knoxville real estate agent, expect to pay a commission fee, typically around 5-6% of the final sale price. This fee is usually split between the listing agent and the buyer’s agent.

In addition to agent commissions, there may be other fees associated with the sale, such as:

Staging costs
Photography and marketing fees
Closing costs (as mentioned above)

Make sure to discuss these fees with your agent upfront so that you know exactly what to expect.

10. Is Listing with a Knoxville Real Estate Agent Right for You?

While listing with a Knoxville real estate agent offers many benefits—such as professional marketing, negotiation expertise, and market knowledge—it’s not the right choice for every homeowner. Some sellers prefer to handle the sale on their own to avoid paying commissions, while others may opt to sell their home directly to a cash buyer to speed up the process and avoid the hassle of showings, repairs, and negotiations.

Ultimately, the decision to list with an agent depends on your unique situation, timeline, and goals. If you have the time and resources to prepare your home for sale and work with an agent, listing on the open market can help you get the highest possible price for your property. However, if you’re looking for a faster, more straightforward sale, selling to a cash buyer may be a better option.

Conclusion

Listing your home with a Knoxville real estate agent offers numerous advantages, including professional marketing, access to a broad network of buyers, and expert negotiation skills. While the process involves careful preparation, pricing, and collaboration with your agent, it can lead to a successful sale at a competitive price. However, if you’re looking for a quicker, more hassle-free option, selling to a cash buyer is always a viable alternative.

If you’re considering selling your home without the traditional listing process, East Tennessee Home Buyers LLC is here to help. We buy homes for cash, allowing you to skip the lengthy steps of preparing, marketing, and negotiating, and move forward with a fast, straightforward sale. Contact East Tennessee Home Buyers LLC today to explore your options!