REAL ESTATE COMPANIES ENJOYING STRONG MARKET IN CAPE REGION

A marriage, the birth of a child and buying a new home often are the types of momentous events that are used to mark life's progression.

Buying a new home -- like marriage and child-rearing -- can be both joyful and stressful.

For the stressful times, there's help for the prospective home buyer or seller.

There are more than three dozen agencies in the Cape Girardeau area that are ready to help clients with their real-estate transactions.

Last year alone, home sales in Cape Girardeau totalled $33.3 million. In Jackson, the total was $14.6 million. A lot of those sales were made by local real estate firms with national ties.

Century 21-Key Realty in Cape Girardeau last year had its best year ever. Karen Mogelnicki, broker for the company, said there are many advantages to having a national affiliation such as Century 21.

"The big advantage for us is the instant recognition as being a leader in the real estate industry," she said. "Other advantages are the support the company provides us in training and other materials."

Like other nationally affiliated real estate firms, Century 21 provides customers with a nationwide referral system, which helps people find a home before a move to a new city.

Key Realty was one of Century 21's first franchises in mid-1970s. About a decade later, Mogelnicki and Barbara Travers purchased the franchise. Travers said the company last year sold 434 units for over $27 million in sales.

Another strong real estate company in Cape Girardeau with national ties is Coldwell-Banker.

The Cape Girardeau agency was one of the first five franchises Coldwell-Banker sold in 1980-81. In 1988, Coldwell-Banker Ryan merged with broker Carl Blanchard's Blanchard and Associates real estate firm.

Blanchard also lauded the company's national ties. "Someone in St. Louis moving to San Diego, Calif., can see a Coldwell-Banker sign and it's familiar," he said. "That makes a difference."

Blanchard said his company routinely places people in Cape Girardeau from other states. With Coldwell-Banker's help, a client not only can find a house prior to moving, but also can learn something about the town.

"Also, Coldwell-Banker has a home-pricing guide, which shows the cost of a home wherever in the United States somebody is moving," he said.

The index shows that home prices in Cape Girardeau are well below the national average.

"Nationally, the average home sells for close to $100,000," Blanchard said. "In Cape Girardeau, the average is around $65,000.

"We're spoiled in the area, because there are a lot of older, existing homes that sell here."

Blanchard called the Cape Girardeau area a good real estate market, with excellent residential growth in the northern and western portions of the county as well as in the city.

"The county is really growing," he added. "I think that and the Jackson market are the growth areas of the future, and we're prepared to serve that market."

But bigger isn't necessarily better when it comes to choosing a real estate agency. Typically, customers like to work with a broker or agent they know, or someone who's been recommended by a friend.

Mary Kistner has been a real estate agent or broker from the past 24 years. In 1955, her father founded McElreath Realty. She joined in 1970 and was made a partner five years later.

She said the lion's share of her customers are either friends or people who have been referred to her office by a satisfied customer.

"We deal with the people that know us by reputation or as customers or friends," Kistner said. "By being a small company, we probably do more advertising for each individual listing than some of the bigger companies."

Kistner conceded that Coldwell-Banker, Century 21, ERA and other national firms have an advantage in terms of name recognition, a national referral service and resources for training.

But through McElreath Realty's affiliation with local and state real estate organizations, many of the training and other benefits also can be enjoyed by smaller, independent companies.

Kistner is past president of the Cape County Board of Realtors, and she serves on the executive board of the Missouri Board of Realtors. She also is a certified instructor for the Missouri Real Estate Commission.

Kistner said she doesn't mind being smaller than nationally affiliated firms. "I prefer things the way they are," she said. "I just like the independence.

"I've been a home-town girl all my life, and I like to run our business in that vein. I think we have a little more flexibility, and we give a personal touch to our service by being a smaller, local firm."