3802 Oxford St

Aaron Joyce and his wife, Mary, have founded one of the most successful real estate teams in the area. In addition to their real estate fame, the couple can be found at numerous star-studded events around town including Ringo Starr’s recent induction into the Musician’s Hall of Fame.

Mary is well-known for work in advocating on behalf of the children slain at Covenant School, where their children attend.

Operating under the name “Your Nashville Agent” and based at the firm of Corcoran Reverie, Aaron Joyce’s name has appeared on an inordinate number of new listings during the infancy of 2024.

Aaron attributes at least a portion of his recent business success to a trend that has found real estate agents overpricing homes, having failed to adapt to the current market conditions.

In recent weeks, when houses do not sell and listings expire, “We seem to be getting the call,” Joyce notes.

The house that closed last week at 3802 Oxford Street in Inglewood is a good example of how overpricing can be harmful. The home was originally listed for $739,000 by another Realtor back in September.

After 28 days on the market with no contracts, the price was reduced $30,000 to $709,000. Some 26 days later, the price was dropped another $19,100 to $689,900. Still, the property did not sell.

A couple of weeks after the second price reduction, the listing was “canceled,” Realtracs showed.

Enter the Joyces, who priced the house at $650,000 and it sold in two days for the list price.

To be fair to the first listing agent, who knows where the $739,000 price was spawned? It could have been the owner, not the Realtor. Chances are the price drops were due to lack of interest, but Joyce’s pricing philosophy rings true and refutes two commonly held attitudes by many sellers.

One often heard seller dictum is “You can’t go up, but you can always go down.” If the Roaring 20s – the years 2020 and 2021 – taught the real estate world anything it is that prices can go up, and that all of it is market driven.

Dropping prices is fun for neither the seller nor the listing agent. It screams “failure,” and it is. It is a failure to price the property appropriately.

The other seller-held adage is “So what if it is priced too high. They can always make an offer for a lower price.” Listing agent No. 1 had the property at $689,000, and no one bought it. Joyce hit the number with $650,000.

The house was by no means to blame for the lengthy residency on the market, as Joyce described it as a “charming brick bungalow on a quiet cul-de-sac … with modern comfort and updates with the timeless charm.”

With three bedrooms and two full bathrooms absorbing some of the 2,139 square feet, the home has its primary bedroom on the main level with a walk-in closet and outdoor access. In addition to the enclosed square footage, there is a covered screened porch. There is room for four automobiles with a two-car garage and a two-space carport.

Apparently, the house is worth every bit of $650,000, but not a penny more. Veteran broker Ruben Juarez with Compass realized it was the right price for the right home for his buyer and immediately placed the home under contract.

To refute another misconception often embraced by sellers, Ruben and his buyer did not hide in the bushes watching the price continue to fall. Nor did they sense desperation or weakness from the seller.

Juarez saw a listing come on the market that fit the criteria and parameters of his buyers. He said he “contacted them within minutes of the house being listed” and took the buyer to the house, secured a contract, arranged an appraisal, a conventional loan and inspection. He and Joyce then ushered the house to closing, a scene that Joyce said the two had accomplished several times when both were at Keller Williams.

If the name Ruben Juarez sounds familiar, it is a result of his decade with the Christian band 10th Avenue North, in which he played bass guitar. Coupled with Joyce’s Ringo connection, the two have the rhythm section covered.

In the case of properly priced houses in a low inventory market, there is plenty of opportunity for harmony in the world of real estate.

Mary Joyce will be wearing her school safety advocacy hat to Washington, D.C., next week. Perhaps she can inspire some unity there.

Richard Courtney is a licensed real estate broker with Fridrich & Clark Realty, LLC, and can be reached at [email protected].