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3-9-12 - Tennessee Association of Realtors - capitol tn

3-9-12 - Tennessee Association of Realtors - capitol tn 2025

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Senate Bill 3069 amends the Tennessee Residential Property Disclosure Act by updating the disclosure form required for residential property transactions. The bill mandates that sellers provide detailed information about the property's condition, including any known defects or environmental hazards, while clarifying that this disclosure is not a warranty and does not replace professional inspections. The act aims to ensure transparency in real estate transactions and will take effect on July 1, 1998.

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Do buyers pay realtor fees in TN?

In Tennessee, home sellers typically pay real estate commissions, which are usually included in the seller closing costs. A buyer pays only for the home and their own closing expenses. ✍️ Important Note: A recent lawsuit challenging the National Association of Realtors (NAR) on commission practices has been settled.

How do I find a realtor in Tennessee?

Dual agency is still legal in Tennessee (if it is fully disclosed to both parties and both parties consent to it). Disclosed dual agency, however, is rarely practiced.

Do you need a real estate license in TN?

If youre considering starting a real estate career in Nashville, Memphis, Knoxville, Chattanooga, Clarksville, or any other city in the state, youll need to earn a Tennessee real estate license.

Where do most people find their Realtor?

86% of buyers used an agent or a broker, 7% directly from a builder or builders agent. 42% of buyers used an agent referred by a friend, relative or neighbor. 7 in 10 buyers interviewed only 1 agent. 80% of buyers would use their agent again and recommend to others.

What is the best way to find a Realtor?

7 Tips for Finding a Good Real Estate Agent Find the agent with the most listings. Get referrals from family and friends. Get a referral from your previous agent. Ask a relocation specialist. Look for community leadership. Evaluate what good means to you. Make sure the agents license is up to date.

What to say when you reach out to a Realtor?

Ideally, your introductory emails and phone scripts will include all information relevant to your home sale or purchase. Let the agent know when, where, and what you are looking to buy or sell. You should also include a timeline during which youd like the transaction to take place, as well as your budget.

Can you sell a house without a Realtor in Tennessee?

No: Just as you are not legally required to hire a real estate agent to sell a house in Tennessee, you are not required to hire an attorney either. However, navigating local regulations, contracts and disclosure forms can be complex, and errors can have serious financial repercussions.

3-9-12 - Tennessee Association of Realtors - capitol tn 2025

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