THE EDGE Blog

Sellers beware: WINTER IS COMING [credit: Game of Thrones] (please don't sue us).  

But what does that mean for selling your home?  Should you really wait until Spring like everyone else?

Conventional wisdom, of course, tells us that Spring is the best time to list a home for sale, the thought being that more buyers are actively looking to buy in the spring and thus, sellers have a greater chance of selling more quickly and for more money.

But is it true?  Let's take a closer look.  Like nearly everything, the devil is in the details.  

Consider this first chart, which shows us a downward trend in the number of listings from October to January each year: 

Source: Cape Girardeau County MLS and MARIS MLS

This chart tells us one important thing: Your competition is sitting at home for the winter. Literally.

Consider that fact in light of these figures:

Source: Cape Girardeau County MLS and MARIS MLS

What do these numbers all mean?  Well, for starters, bear in mind that roughly 25% of homes should, in theory, sell in any three month period of a calendar year (3 / 12 = .25).  The chart goes on to tell us what actually happens: (1) roughly 20-21% of homes in a given calendar year sell in the winter months, and (2) roughly 27-28% of homes in a given calendar year sell in the spring months.  Comparing those numbers to 25%, the difference between summer and winter sales activity is not very large.

There's more.  Remember the first chart?  The one that tells us how low inventory is in the winter and how high it starts to creep in the spring?  When you factor in the inventory counts and compare them to the sales numbers, the difference between the time periods is almost negligible.

So when is your home more likely to sell?  That conventional wisdom may be doing you a disservice. 

Winter is coming, but don't discount it!

Yesterday, Missourians voted YES on Amendment 4, marking a huge victory for hard-working taxpayers.  Amendment 4 sought to amend the Missouri constitution to prohibit state and local governments from imposing any new sales tax or use tax on services.  A statewide coalition consisting of the National Federation of Independent Businesses, the Missouri Bankers Association, the Missouri Independent Bankers Association, the Missouri Automobile Dealers Association, the Missouri Association of Trial Attorneys, and Missouri REALTORS, among many others, paved the way for the Amendment's success.

Scott Charton, spokesman for Missourians for Fair Taxation had this to say following the victory:

"The time was right to make a stand.  This is a victory for Missouri's hard-working taxpayers and their families.  Passage of Missouri's Amendment 4 is a first-in-the-nation, preemptive strike against new sales taxes on everyday services.  The threat of new sales tax on services has been stopped, thanks to the bipartisan support of common-sense Missourians. We are so very proud of the hard work and the extensive grassroots campaign by the Missourians for Fair Taxation coalition. This broad-based coalition was created by the 20,000-member Missouri REALTORS® with financial support from the National Association of REALTORS® and a long list of Missouri based organizations and small business owners.  Much credit for this victory goes to the local boards/associations of REALTORS® throughout Missouri, and their leadership and staff who served as local hubs for Amendment 4 information, campaign materials, signs and coordination with allies on the ground."

As Mr. Charton points out, this Amendment was spearheaded by REALTORS® fighting for property rights.  A sales tax on services would have had a drastic effect on everyone's ability to both buy and sell their homes.  Without this amendment, future legislation could have taxed real estate related services such as lending, title, real estate brokerage, and home inspections.  

"For REALTORS®, passage of Amendment 4 is the latest accomplishment in a long-term commitment to protecting consumers and helping them achieve the American Dream of homeownership," Mr. Charton said.

We are proud REALTORS® here at Realty Executives of Cape County.

To most consumers, the terms "real estate agent" and "realtor" are synonymous.  However, a closer look will tell a very different tale; the word "REALTOR®" is a technical term that means much more than "real estate agent."

A REALTOR® is a member of the National Association of REALTORS® ("NAR"), the largest trade association in the United States.  REALTORS® place high importance on honesty and good faith in their dealings with one another and with clients.  REALTORS® take an oath to abide by a stringent, enforceable Code of Ethics along with Standards of Practice, which means REALTORS® owe specific duties to clients, the public, and to other REALTORS®.  Their non-member "real estate agent" counterparts do not have to abide by any such code. 

REALTORS® aggressively fight for the rights of homeowners through well-run state associations and knowledgeable political action committees.  If there's an issue in the legislature that will negatively affect homeowners, you can bet that REALTORS® will fight to protect homeowners.  REALTORS® regularly take training courses to ensure they serve their customers and clients with the level of skill, knowledge, and attention required by today's real estate consumer.  

Most importantly, REALTORS® represent their clients with zeal.  Many people, in fact, are not aware of the expertise, professional knowledge, and hard work that goes into a proper real estate transaction.  The Orlando Regional REALTOR Association compiled these things into a very thorough list.  

At Realty Executives of Cape County, we have set the REALTOR® Code of Ethics as the bare minimum standard for how we do business.  This means we train on, and abide by, the Code and Standards of Practice to the fullest extent in our dealings with clients, the public, and with other REALTORS®, and in many cases, we try to set the bar even higher.  

Anyone can attempt to "DIY" a real estate transaction.  Some even get lucky and get through the transaction without a hitch.  But beware: there are many land mines along the path from listing to closing and beyond, and REALTORS® know what they are and how to effectively navigate through the minefield.

So get REALTOR®.  And more specifically, get Realty Executives.