Why Waiting Until Spring to Sell Your Property May Cost You
A question or response we hear a lot in real estate is, “should I wait until Spring to list?”
Here are some reasons why real estate is not as seasonal as it used to be:
- We discuss supply and demand on this blog. What does it mean to you if your property is for sale and there is less competition during the winter months (because others wait until Spring)?
- Less competition + buyers = potential to make more money.
- To further update our point, in 2015 from July to September, here is some information from the National Association of Realtors. This information shows the strong demand and weak supply. This means you would have had less competition in typically strong selling months (July-Sept 2015). Just think how little competition you’ll have in November, December, and January.
- The buyers looking right now are serious buyers. There may even be transfers out there looking to move prior to the start of the next school semester. If they are more serious buyers, they are more apt to respect your time over the holidays.
- We have received feedback from buyers that they prefer to make a change prior to school starting in January so their children have an opportunity to make friends prior to summer. Who doesn’t like to play in the summer?
- The best agents are still working. A real estate professional does not take off months at a time. They know their business is reliant on hard work, year round. Align yourself with these professionals.
- Your property will look terrific with all your holiday decorations…just don’t go overboard! Use the holiday season a way to make your property warm and inviting.
- The internet. According to a NAR survey in 2015, 42 percent of recent buyers started their home search process online. What does this mean? Buyers can perform a virtual Open House of your property, year round, 24/7.
- Why do you want/need to sell your property in the first place? How much will another winter cost you in warehousing, mortgage, and utility costs? Why not try to make a little more money with less competition?
These are just a few reasons why selling property is now a year round affair.
Questions or need to discuss your situation with a consultant, contact us.
Derek Espeer Real Estate Services