The story of the share cropper... another Monty-ism

What the heck does THIS have to do with Real Estate?

Well, recently our MLS has stepped up to the plate and calculates months of inventory. Months of inventory refers to this concept: Let’s say today there are 15 months of inventory. That means that if no more homes come on the market, and if sales stay at their current rate, then it will take 15 months to consume the number of homes on the market. Experts have stated that if months of inventory is 6 months or less, we are in a seller’s market. If months of inventory is 6 months or more we are in buyer’s market.

So, assume that months of inventory is showing as 9 months for this market – where you are about to get a listing. The agent, bless his heart, does everything right, is knowledgeable about the market, does all the necessary research, has a bang up marketing program, builds rapport and the seller says – OK Johnny, I would love to list my house with you but I only want to list it for 2 months...


The agent, understandably, is happy and sad at the same time. Happy that they were well received and got the job and sad because the seller only wants to list it for two months when the study clearly shows that there are 9 months of inventory. Well, if the real estate gods are with the agent – maybe it could sell in 5-6 months, but if the market changes for the worst, you’re looking at 9 months OR MORE!

So enter the share cropper story: Monty says, “Suppose you were a share cropper, you rent the land from the farmer, you buy seed, you tlll the soil, you plant the seed, you water the seed and finally you start to see some little sprouts. You know you’re going to have a harvest cause the seeds are sprouting. Then, out of no where the farmer says ‘OK, thanks for doing all that, I’m going to terminate our relationship – I don’t want a share cropper any more' or 'I’ve got somebody else coming in to finish it off' or 'I’ll do it myself' or whatever.’

Now you say to the seller, wait a minute you are denying be my harvest. We all know that it takes several months for a “crop” to mature so you can reap the harvest and you want me to share crop for 2 months and leave? (really for the house to sell).

You get the idea. A good, solid, professional agent will require enough time time for a harvest and it's only fair for you, the seller, to provide it.  After all, would you plant a crop knowing that you'll be unable to conduct the harvest?