Closing in Cold Weather | Seasonal Selling
Selling real estate can be remarkably difficult. After all, this unique trade involves a wide array of practical knowledge and situational awareness. So, it should come as no surprise weather patterns play a significant role in the day-to-day operations of Realtors and brokers alike.
Wintertime presents various problems when trying to make a sale. So, there are several foundational ideas you need to know concerning those dark and dreary winter days. Being in-the-know about wintertime real estate practices allows you to “make lemons into lemonade” regarding cold weather climates. Although spring may be the best season to sell, winter has some perks for sellers.
Lower inventory means less competition
Not only is the real estate market short on housing options during the winter months, but also the demand for houses goes into hibernation. If you consider basic ideas about supply and demand, you’ll realize this situation creates a profitable opportunity for motivated sellers.
Did you forget to pay attention in Econ-101? That’s ok—iMaxCRM has got you covered.
Do you continue to believe you can only effectively sell in the springtime? Or, perhaps you think the fact there are fewer properties listed means there’s no hope for a sale? In either event— you’re dead wrong! Not only does this scarcity of sellers means less competition for you, but it also means leveraging a low inventory is beneficial to your bottom-line.
Winning the war with winter
Selling in the “off-season” allows you a chance to show prospective buyers your property is well-prepared for the harshest conditions. For instance, showing homes with short driveways can be used to capitalize on the act of shoveling snow. In other words, less driveway means less shoveling. Additionally, wintertime can also highlight key selling features like a functioning fireplace and an aptly reinforced roof.
Seasonal trends
Despite falling within the fall season, September can have a dramatic effect on the housing market during the winter months. Recent research out of the Center for Health Statistics and the Social Security Administration reports that more births occur in September than any other month. Consequently, growing families tend to be on the lookout for larger homes to accommodate their newest family members.
Winter is a serious season
Breaking news: Not all people perusing homes plan to buy one. Many folks merely think about moving and get a bug to see what’s out there. Since spring and fall constitute the primary selling season, it stands to reason more “window-shoppers” will be out about in your area. Therefore, you’re more likely to waste your time on people with zero intention of buying.
On the flip-side, these same “property peepers” happen to hibernate once it starts getting cold outside. Therefore, most potential buyers shopping during winter are much more serious when it comes to making a purchase. A significant reason behind these motivated buyers is the fear of missing out on a great home once springtime rolls around.
Think about it: would you prefer to interact with 30 people who are merely snooping around, or would you be more interested in 5 people bent on buying?
Christmas bonuses and year-end payouts
It’s no secret many people receive bonuses at the end of the year. This annual surplus in capital among buyers means more people have the means to purchase property than during any other time of year.
Alongside end-of-year bonuses, many working Americans retire around this time. Coupled with the lump-sum payments mentioned above, retirees are plenty. This development creates opportunities for buyers otherwise excluded from the market to strike while the iron is hot.
Capitalizing on corporate America
Although your chances of encountering clients relocating are generally few and far in-between, winter improves your odds significantly.
According to an associate of Sotheby’s International Realty, January and February are the busiest months regarding corporate relocations. For sellers, this corporate trend means buyers are in a hurry to find a home, and they’re out in full effect searching for seal a deal.
Tack on the fact that most of these speedy settlers must uproot their families within a short period, and you could have a virtual feeding frenzy on your hands. Think about it this way. Their kids require time to get situated at a new school, their significant others need time to get things together, and managing a concurrent sale all add to their sense of urgency. Much less, they’re likely super stressed. So, selling to this demographic in the wintertime is like shooting fish in a barrel.
All things considered
Winter can be quite lucrative for a savvy seller. It would help if you focused on the benefits for certain buyers, rather than the drawbacks for dealers.
If you want to learn more about trending topics in the real estate industry, hop over to the next blog. At iMaxCRM, we cover a wide range of issues to serve sellers of every sort.
