Last week we examined the evolving role of the real estate agent in light of changes happening across our industry. Technology is a major player in both how and why our industry is shifting. This week we’ll look at the role it’s played as well as how agents can harness technology to grow their businesses. Technology’s Impact Historically, agents have served as data providers for their clients—helping potential buyers find properties, guiding sellers through the pricing process based on home prices in the area, and more. But with the introduction of technologies like Zillow, Trulia, and even Amazon’s Alexa, consumers are being increasingly empowered with easy access to information. The power and impact of technology doesn’t end there. Artificial intelligence and machine learning will be the next big drivers of change with respect to automation and data-driven insights as well as products and services. And many transactions will be moving into the digital space, speeding up the home buying and selling process. For the smart agent, it’s time to pivot from fighting back against technology. Agents must embrace their new roles and harness new tools for greater efficiencies and sales. Smart CRM’s and the Power of Big Data CRM’s or [...]

Benchmark is excited to share that, for the fourth consecutive year, it’s been ranked on Inc. 5000’s list of fastest-growing private companies in America. With nearly seven million private companies in the U.S., only a small fraction of businesses makes the list by demonstrating consistent high growth. “Wow! Four years in a row!” said our CEO Phillip Cantrell. “Truly an outstanding recognition and accomplishment.  We feel deeply, deeply honored to be found in such rarefied company.”  Since 1982, the Inc. 5000 list has honored the journeys of the fastest-growing companies in America. It’s one of the most prestigious honors for growing private businesses and business leaders. Many companies who have ranked on past lists have become household names like Microsoft, Under Armour, Pandora, Chobani, Facebook, and more. “We have indeed been blessed. By circumstances, by loyal clients, by the hardest-working team in this industry, and most importantly, blessed by God to have achieved these successes,” Cantrell said. “We are grateful, truly humbled by this recognition, and looking forward to many more years of growth.” If you’re a real estate agent looking to make a change, now may be the right time to join ranks with one of Inc. 5000’s ranking companies. Find out [...]

As a real estate agent, building relationships is a part of the job—maybe even the best part. Connecting with other agents doesn’t just give you the chance to share stories, ideas and best practices, it also lets you build long-term friendships. That’s why we’ve introduced Group Therapy at 5:01 as a chance for real estate agents to connect with each other and potential vendors in a fun, after-hours environment. We meet at a chosen location around the Middle Tennessee area from once a month to once a quarter, depending on company schedules, giving attendees the chance to unwind and relax, with some talking business and others just having a good time. Though Benchmark agents can work out of any of seven our offices at any time, regardless of which office holds their license, it can be hard to get everyone together. Group Therapy at 5:01 has made it possible, drawing agents from across Middle Tennessee. So far, we’ve held meetings at Top Golf in downtown Nashville, Arrington Vineyards in Franklin and Urban Grub in 12th Avenue South (just to name a few). But Group Therapy at 5:01 isn’t only limited to the Benchmark community. We encourage all real estate agents [...]

The former home of renowned songwriter Leon Russell is now on the market. A member of the Rock and Roll Hall of Fame and Songwriters Hall of Fame, Leon collaborated with The Beatles, Rolling Stones and Elton John, among others, before he passed in 2016. At 6,120 square feet, the home is a marvel. But its history goes far beyond its four bedrooms, customized elevator, and gargoyle anointed terraces. It’s a place of stories and life that was as magical as the man who last called it home. The house was originally built in 1992 for Dennis Linde, another prolific songwriter. Dennis was best known for the 1972 Elvis Presley Hit “Burning Love” but was also the mastermind behind songs recorded by many other artists including Roy Orbison, Tanya Tucker, Roger Miller, Don Williams, The Judds, Alan Jackson, Mark Chesnutt, and Garth Brooks. After his death in 2006, Dennis’ wife Pam knew exactly who should start their own chapter in this wonderful home. While they had never met the Russells, she felt that Leon was the right fit to continue the legacy of memories made there. Leon’s wife, Jan Bridges, recalls, “It felt like church—like a bit of magic.” She still remembers the first day they saw [...]

The Nashville housing market has been booming for the past few years, and in 2017 we reached the third-highest home appreciation nationwide, with homes growing in value at 12.5 percent on average. Homes sold for a median price of close to $225,000, compared to $200,000 in 2016. Why the growth? Nashville continues to be an “it” city, with people moving from higher-cost markets for better-paying jobs. To these buyers, our high prices are still considered a bargain, making them willing to pay more for a home than a local buyer. In the fourth quarter of last year, homes sold for an average of 51 percent more than what the sellers originally paid, which is even more than the highest profits during the last housing boom. While experts do expect the appreciation to slow, they don’t anticipate a crash. That’s because our growth has driven by demand rather than loose lending standards. Still, if you’ve been considering selling your home, now is the time, before the expected slowdown hits our market. Partnering with the right agent can help you get the best possible sales price for your home. Curious how much your home is worth? Tools like Zillow and Trulia can [...]

The real estate industry is changing fast. Just two years ago, Benchmark CEO Phillip Cantrell predicted the next five years would have more change than we’d seen in the last twenty, but it doesn't stop there. Now, the next two years may hold more change than the last seventy-five, and many unprepared agents are reeling. We’ll be sharing a two-part series looking at the two largest shifts in the industry and how savvy, professional agents can respond to them and use them to their benefit: the changing role of the agent and the impact of technology. Last year was a major turning point for our industry. Though traditionally relationships and referrals have played a significant role in building a client base, for the first time in history more consumers found agents online than via person-to-person referrals in 2017 (28 percent versus 23 percent compared to 2016’s 26 percent versus 33 percent). This—combined with a client’s ability to find relevant, accurate information on the homes in their market—signals a change in how home buyers and sellers view the role an agent plays in their transactions. Agents are no longer gatekeepers of information. Instead, to remain relevant in a quickly changing world, [...]

Today’s real estate market has turned into a legal battlefield. Even though the real estate licensee might not be the reason a lawsuit is filed, they will probably find themselves caught in the crossfire. The trend in agent-related lawsuits and complaints has increased dramatically since the 1990’s and will probably continue for the foreseeable future. Why is the trend for suing an agent increasing? There are more and more complex real estate transactions than in the past such as property trades, assignments or transactions involving alternative financing. Whenever you have a complicated transaction, you increase the likelihood that something will go wrong and that the practitioner will end up getting sued. Also, there is a lack of adequate agent training. Many real estate firms are not providing the type of training and coaching needed to ensure their real estate licensees are doing everything they can to minimize the risk of being sued or having a TREC complaint filed against them. Society as a whole is growing more litigious. Everyone seems to be “lawyering up.” People are more willing to sue today than ever before. This trend is affecting a broad spectrum of business, not just the real estate industry. Studies [...]

WalletHub compared the 168 Nashville real estate agents who have at least one active listing and at least one sale in the last 12 months. Each agent was evaluated in four categories: active listings, recent sales, Zillow rating and WalletHub rating. Twenty-two Benchmark Agents made the list! Allen Clark Perry Ranking: 10 Brianna E. Morant Ranking: 13 Martin Samuel Lovelace Ranking: 19 Andra Brewer Ranking: 35 Scott F. Hardesty Ranking: 56 Bojan Zivak Ranking: 68 Jonathan Cole Melcher Ranking: 71 Larry M. Morgan Ranking: 85 Cameron Ray Hunt Ranking: 85 Lisa B. Peebles Ranking: 89 William Thomas Anderson Ranking: 90 Andrea S. Ladd Ranking: 93 Amanda Paige McDowell Ranking: 93 Gregory Crockett Ranking: 104 Monica S. Horseman Ranking: 115 John Andrew Carlton Ranking: 115 Andrew L. Buckwalter Ranking: 120 Kristie Leigh Young Ranking: 128 Matthew Alan Hansen Ranking: 134 John Richie Cordaro Ranking: 139 Luann Marie Reid Ranking: 153 Keith Michael Pillatsch Ranking: 156 Methodology Originally posted at WalletHub.com. To identify the best real estate agents in Nashville, TN, WalletHub compared 168 real estate agents operating in Nashville across four key metrics: 1) Active Listings; 2) Sales in the Last 12 Months; 3) Zillow Rating; and 4) WalletHub rating. WalletHub [...]

Whether looking to buy, binge-watching HGTV, or just daydreaming, every homeowner and potential owner has thought about luxury homes at one point or another. These dream homes have more than just a big-ticket price in common, but what can you expect to find in a luxury home? Recent research from Homes.com found preferences and features vary by state. Top Home Features For Tennessee homes, the top must-have beyond a pool and bar is a breakfast nook, but that’s not the most common feature nationwide. Here’s a quick breakdown of the percentage of luxury homes and which amenities they include: Pools: 36.5% Bar: 22.7% Gourmet Kitchen: 12.6% Elevator: 11.6% Waterfront: 10.9% Largest Homes Another factor that differentiates luxury homes state-by-state is size. While paying $1 million for a home should get you a pretty significant amount of square footage, where you purchase that footage makes a difference: Indiana: 9,289 sq. ft. West Virginia: 8,97 sq. ft. Mississippi: 8,774 sq. ft. Kansas: 8,520 sq. ft. Arkansas: 7,395 sq. ft. Alaska: 7,375 sq. ft. Ohio: 7,347 sq. ft. Kentucky: 6,985 sq. ft. Missouri: 6,907 sq. ft. Louisiana: 6,674 sq. ft. Unique Features What makes a luxury home luxurious is often the unexpected add-on. [...]

In today’s digital world, social media is a go-to channel for many people looking to buy a new home. And with the right photography and a targeted advertising buy, you can reach those people where they’re most comfortable to help you attract new buyers and grow your real estate business. Facebook Facebook is a great primary hub to share about homes going on the market. You can use it to link to photos on your Instagram, to share Pinterest boards showcasing a home, or to post a video or animated slideshow (all of which we’ll go into a little more detail about down below). Not only should you share new homes you’re putting on the market, but you should also consider creating a business page on Facebook for your real estate persona. This will allow you to spend advertising dollars on the platform to help you reach people in your area who don’t currently follow your page. With Facebook advertising, you can build an audience within your target city or cities, add household income information based on your selling cost, then simply use that audience when creating an ad. The best part? You can advertise on both Facebook and Instagram [...]