Century 21 Legacy, Knoxville, Tennessee
What is the market like in Knoxville, Tennessee?
Our housing market is very steady. One of our largest employers is the University of Tennessee, so even when there was an economic downturn years ago, we didn’t experience the same impact as other parts of the nation. The only trouble we have, like so many other places, is limited inventory—everything that comes on the market is sold very quickly.
Who is the typical buyer or seller? Are most affiliated with the university?
We have a healthy mix. We have graduate students, but we also have a good number of retirees because our home prices are affordable and the taxes on homes are very manageable for people with retirement budgets. Plus, we have a true four-season climate and we’re only a day’s drive from Virginia, Florida or Georgia, so you can get to a city or beach easily from here.
Are some people waiting longer to decide to buy their first home?
We are not seeing a lot of that in our area, but it is true that some folks are waiting a little longer to purchase a home. But they’re taking longer to do everything—longer to get out of college, longer to get married. I think it’s just a natural progression that they’re doing things more slowly and with more intent. But when these folks do jump in, they are buying something a little more expensive that I would call a move-up home. They are making a choice that fits their lifestyle. We are seeing a resurgence of interest in older neighborhoods—they are becoming quite trendy. And the type of home I grew up in, the 1950s ranch, is now a very hot commodity. And people, no matter what their age, are enjoying one-level living.
Have you faced any recent business challenges?
Nothing especially big, but we are seeing home listings that are pre-sold. The homes are listed on the MLS as “coming soon,” and there is a lot of hype that comes with that. In our system, a home can be listed as “coming soon” for 14 days, but no showings are allowed until that period is over. That’s just a sit-and-wait game for people who are looking, especially if they really want to see that house, but they feel that they might miss out on another place while they are waiting.
The hype this creates can lead to bidding wars, and some homes sell for over list price. It’s good for the sellers, but it’s not uncommon for some of our buyers to have lost out on one or two properties before they are able to secure one. We have to counsel everyone that cash will trump everything—even a lower offer if it depends on financing or includes a contingency. I had one couple, first-time buyers in their mid-40s, decide to bow out for a while and continue to rent until things eased up a little.
Do you have special activities you use to market your business?
Actually, I am very fortunate that a majority of business comes from referrals and relationships with other REALTORS® and, of course, CRSs. I am at the President’s Circle level at RPAC, and I find that major investors want to send business to other major investors.
What is your favorite aspect of the home selling/buying process?
Working with first-time homebuyers. I get the most joy from working with people who have never done this before and making it a pleasant and enjoyable experience for them. Most of my business is from referrals or repeat clients, so you just have to take care of them the first time and then they are out there generating business for you from then on.
What do you love to do outside of work?
I’m service-oriented and love working with nonprofits. I’m a founding committee member of 100 REALTORS Who Care; 100 people get together once a quarter and commit to giving $100 each to a charity the group has selected. We give $40,000 to nonprofits in our area every year.
Do you work with a charity?
I serve on the board of directors for a program called Care Cuts, which serves the homeless. We provide grooming services (including shampoo, haircuts, color, shave and nails) for 200 people, all day on the first Sunday of every month. It all began with one hairstylist who opened her salon once a month, but we now have a permanent building in an old four-bay garage. We are able to give folks hot showers, laundry services and food, as well as ministry services, and medical and legal assistance. Everyone leaves with a grooming kit and clean clothes. Our goal is to help them transition into a service program or permanent housing.
As a REALTOR®, I often have clients who are leaving behind clothing or furniture. The ministry picks up these items so that when people get apartments, they have some things of their own and don’t have to sleep on the floor. 
Sally Sparks, CRS, achieved CRS Designation in 2012. She can be reached at sally@sallysparks.com or 865-567-4481.
