REAL ESTATE

22 THE SUN REAL ESTATE

MARCH 31, 2021

Commissions vs. technology: Local knowledge rules

I’ve never met a seller who didn’t cringe a little at closing when the brokers’ commission checks are cut. They know intellectually that brokers have to be paid but they frequently never really think they were worth the money, especially in today’s world of fast technology.

The yin and yang of this is that, yes, anyone can go online and see pretty much every property listed in the areas they’re interested in. However, what about the ones that aren’t listed yet? Don’t think for a minute that brokers who are tapped into the community they do business in don’t know about properties that may be coming on the market; who’s getting a company transfer, who’s retiring, who’s getting divorced, and all other kinds of life events that cause people to sell their homes.

This information is great for buyers but it’s also great for sellers. Local knowledge is even more important in today’s real estate market where inventory is very low and homes sell in days with multiple offers. If you as a seller have a broker who has cultivated qualified buyers for your specific type of home, you may think their commission was money well spent. Experienced brokers bring that knowledge to both buyers and sellers - it cuts both ways.

In addition to knowing their market, brokers are a wealth of information not found in online real estate listings. In Florida, the majority of transactions use contracts written by brokers, developed by the Florida Association of Realtors, therefore, avoiding legal expense. They are also in a position to advise sellers on ways to improve the appearance of their homes and recommend small maintenance and clean-out jobs, all of which enhance that vital first impression.

Despite my opinion of the value of a real estate broker, there are plenty of others who don’t agree, including online brokerage companies. These brokers are influenced by the fact that the National Association of Realtors reports that 44% of new home buyers begin their home search online. The brokers are attempting to acquire a larger percentage of the market.

Another month has passed, and the Realtor Association of Sarasota and Manatee has come out with its February sales statistics and it’s another recordbreaking month.

In February, Manatee County closed 12.8% more single-family home sales than last February, and cash sales were up 10.5%. The median sale price set a new record at $380,000, up 16.9%, and the average sale price was $553,312, up 35.6%. The median time to contract was 13 days compared to 47 days last year, and the month’s supply of properties was .09 compared to 3.4 last year.

Condos were also up in all areas, closing 23.2% more than last February, while cash sales were up 21.1%. The median sale price was $230,000, up 9.5%, and the average sale price was $272,932, up 11.3%. The median time to contract was 34 days compared to 39 last year and the month’s supply of properties was 1.1, compared to 4.5 last year.

With the inventory as low as it is there will be an impact on the number of sales going forward this year, which will continue pushing the sale prices up even more. There are a lot of buyers out there who will be very disappointed in the coming months if things don’t turn around.

If it makes sellers feel any better, commissions charged by boat brokers surpass home sales by about 4%. And just like home sales, the prices are going up and the inventory is going down.

I always thought a computer could never take the place of a real live person when it comes to the largest purchase and sale of your life. Time will tell if I’m right. Stay safe.

Castles in the Sand

LOUISE BOLGER

BEACH BEAT

BRADENTON BEACH

3/14, larceny, Coquina Beach parking lot, 1800 Gulf Drive S. The victim’s license plate was stolen. 3/17, theft, 703 Gulf Drive S. A bicycle was stolen from under the entry staircase. The lock was cut. 3/8, possession of controlled substance, 5200 Gulf Drive and Marina Drive. The officer noticed a male and female on bicycles without headlights after dark. He stopped them and found drugs and paraphernalia. They were arrested. 3/11, 3:34 a.m., violation of the camping code, 30th Street beach access. The officer noticed a vehicle backed into a parking spot at the beach access with a male asleep in the driver’s seat. He awakened the driver, who explained he went to a bar after work, drank too much and decided to sleep it off in his car. He was cited for illegal camping. 3/11, petit theft, 3200 block of Gulf Drive. A red, men’s rental bicycle was stolen overnight. 3/11, fraud, 500 block of 71st Street. The complainant noticed suspicious activity with her credit card. The officer filed a police report. 3/11, 10:31 p.m., city code violation, 700 Manatee Ave. The officer stopped a male driving an unregistered golf cart on the sidewalks after dark. The driver said he was trying to visit a friend but couldn’t find a parking space so he drove his golf cart. 3/11, 11:11 p.m., DUI, possession of a concealed weapon, Manatee Avenue. The officer stopped the driver for speeding and turning wide while accessing Manatee Avenue from Gulf Drive. The driver exhibited signs of impairment while interacting with the officer, who called for backup. The driver agreed to perform a field sobriety test. He was arrested and a check of his record showed four DUIs in Virginia. His vehicle was searched and they found a loaded .357 Magnum pistol and some marijuana. 3/12, petit theft, Manatee Beach, 4000 Gulf Drive. A wallet was stolen from a picnic table while its owner enjoyed the Gulf waters. 3/12, 3:25 a.m., noise violation, 4300 Gulf Drive. An officer was dispatched after two neighbors phoned in complaints. The renters apologized, saying they lost track of the time and they were unaware of the noise ordinance. 3/12, 9:35 p.m., city code violations, 100 block of 52nd Street. Police were informed of three males around a parked car throwing cans and drinking. They found the three in possession of alcohol and marijuana. They were given code enforcement violation citations. 3/15, 7 p.m., leaving the scene of an accident, Anchor Inn, 3007 Gulf Drive. The officer arrived as two other Holmes Beach officers were questioning a male, who appeared to be the driver, at Grassy Pointe Preserve. The man admitted hitting another vehicle. He said he didn’t stop because he thought it was more of a bump than of a crash. He was arrested.

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Natives in Bloom

CINDY LANE | SUN

Lantana, a Florida native plant with varieties in several colors, is blooming this spring on Anna Maria Island.

Mayor pursues Mote Marine facility funding

The city of Anna Maria is tasked with raising the initial $500,000 needed to create a Mote Marine facility on the City Pier.

BY JOE HENDRICKS

SUN CORRESPONDENT | jhendricks@amisun.com

ANNA MARIA – Mayor Dan Murphy continues his efforts to secure $500,000 in initial funding for the proposed City Pier Marine Educational Outreach Center.

The $500,000 is needed to transform the currently vacant space on the City Pier into a marine educational outreach center to be operated by Mote Marine at Mote Marine’s expense.

During last week’s city commission meeting, Murphy said he planned to meet with District 3 County Commissioner Kevin Van Ostenbridge on Wednesday, April 7 to gauge his support for the use of county commission-controlled tourist tax revenues to fund some or all of the city’s $500,000 up-front costs.

Murphy said he also planned to meet with Bradenton Area Convention and Visitors Bureau Executive Director Elliott Falcione to gauge his support, and the support of the Tourist Development Council (TDC), which makes tourist tax expenditure recommendations to the county commission.

“I’m going to tell them how this all works out, what we need and what role we hope they can play to help get it done,” Murphy told the commission.

Murphy told the commission he hopes to have the city’s funding request placed on the agenda for the April 19 TDC meeting to be held at the convention center in Palmetto.

“I think it would be good if some of you could attend that meeting with me. Hopefully, we’ll be on the agenda. I’m not there yet, but I am hoping it will be on the agenda to present our case for Mote Marine to the TDC,” Murphy said.

During a previous commission discussion, it was noted that Murphy and the city could pursue grant opportunities and/or seek donations from private philanthropists if TDC/Manatee County funding is not available or the county contribution is less than $500,000.

FROM PAGE 3 come to the commission with options,” Murphy said.

Murphy said he and City Clerk/Treasurer LeAnne Addy are exploring alternative funding mechanisms as well.

“Any fix we put in place is going to require a lot of money. More money than we have,” Murphy said.

“I truly believe there are some systemic problems we’ve inherited from the previous commissions and previous mayors. Pine Avenue is not well designed. Backing out from parking spaces and not having adequate parking is a problem,” Murphy said.

Murphy said safety improvements are especially needed during the three or four months of the peak tourist season: “It’s critical enough that we need to take some pretty drastic action. It’s not going to be easy politically to implement solutions. There’s pain associated with the solution, so we might as well brace ourselves for political flak, economic flak and the upheaval of the fixes themselves. But I think it would well-serve the city to do something that hasn’t been done and hasn’t been addressed if you’ve got the courage,” he said, without elaborating on what those potential Pine Avenue improvements might entail.