How To Effectively Sell Property During The Holidays
It’s that time of the year again, when roads will be covered by freshly fallen slow, budgets strained by gift-giving and calendars packed with holiday parties and get-togethers. For the bulk of the corporate world, including real estate, it almost feels like it’s already time to close shop and retire home for the holidays. Only retail businesses and holiday rentals are guaranteed to make a killing, right? Wrong…In as much as it sounds like a far-fetched concept for some realtors, it’s possible to sell property during the holidays, and even make pretty good returns.
A significant majority of property owners and realtors assume that summer and spring are the best time to engage in real estate sales. And that’s true, going by reports published by the National Association of Realtors. Generally, the number of homes sold across the US significantly increases as the housing market enters spring season. All factors taken into consideration, months that record the highest number of home sales are May, June, July and August, which collectively account for 40% of the average number of houses sold per year.
After the rush property sale season, sales begin going down as early as September, recording an average fall of 16% compared to August, then proceed to fall again by 10% in November. So, where does that leave us, considering the reduced sale volume?
Well, at least we’re sure about one thing- all prospective home buyers don’t retire after Labor Day. The overall sale volume may go down, but people will still continue purchasing properties. Interestingly, according to a Redfin study that sampled more than a million homes between 2011 and 2013 across 19 markets, engaging in real estate during the holidays is not such a bad idea. Properties listed between the 21st of December and 21st of March have 10% greater chance of selling near or at asking price, compared to properties listed between the 22nd of June and 20th of September. And if you’re worried about selling, you might be pleased to learn that the same study found out that the same holiday properties, had 9% greater chance of being sold within 180 days closer to asking prices, compared to the latter.
Evidently, holidays come with better chances of selling property at their asking price. So, how can you effectively sell property during this period?
Capitalize on Décor
One thing everyone loves about holidays is the décor on properties, especially homes. Unfortunately for many realtors, decorating an unoccupied home just doesn’t cut it for them. They rather sell property and let new homeowners choose their preferred holiday décor. While prospective homeowners may appreciate this consideration, they are also attracted by beautiful and thoughtful adornments. And that’s the first step to a successful sale.
Good holiday décor should be simple, minimal and just ideal to complement property you’re selling. Going overboard with large decorations or sensitive elements like religious themes may distract or offend buyers. To find the perfect décor, it’s advisable to engage professional designers experienced with decors and holiday themes.
Accentuate Positive Aspects
The trick to selling fast and at a good price is triggering excitement among prospective buyers. An effectual way of doing this is learning just how to accentuate all the positive elements of your property using holiday themes. That way, you’ll be attracting your prospects to all the elements you really want them to focus on, subsequently drifting attention away from negative aspects.
Avoiding clutter around an exquisite fireplace for instance, is one way to do it. If you have a beautiful view, don’t block it with snowflake decals or flowers. And if you’re particularly fond of that arched doorway, good dangle mistletoe would do it a lot of justice.
Keep Your Property Warm
The holiday season is generally chilly and perfect for long hours indoors. You could use this to your advantage by cranking up the heat, offering homemade holiday treats and playing soft classical music to make your property feel inviting and cozy. This would encourage prospective buyers to spend more time around your property, admiring some of its features, and consequently growing fonder by the minute. Additionally, keeping them around for long grants you sufficient time to build better buyer-seller relationships, which could subsequently lead to successful pitches.
Liaise With Financiers
People have an affinity for spending cash during the holiday season, and that includes your prospective buyers. While they may be looking to acquire property, they are probably also planning to have a good holiday season, giving and receiving gifts. Since buying property may set them a couple of dollars back, it may be a good idea liaising with financiers offering good and flexible property financing options. This not only increases the spending bracket, but also offers prospects who may have postponed acquiring property, a chance to buy during the holidays.
Since a bulk of financiers and banks offer holiday giveaways, you should compare different offers before advising your prospects. The better the giveaways, the more your prospects will be willing to commit to purchase agreements.
Hire a Professional Real Estate Agent
Finally, the most important strategy- hiring a reliable professional real estate agent. While it’s true that many professionals retire home to spend time with their families during the holidays, a couple still derive pleasure from their work. Selling property is their way of spreading the holiday cheer. Therefore, you still stand a good chance of scoring a good agent.
Of course hiring an agent may cost you a couple of dollars. But it’s indeed worth it if you need to sell your property fast and at a good price. Additionally, your agent will take care of all the paper work, putting in mind that you’ll probably be busy opening up gifts and sending a couple to friends and family.
And if you don’t manage to sell your property, take a moment to relax and enjoy the holiday season. After all, 2017 is just by the corner, and going by pieces we’ve published in the past, real estate is about to go a notch higher.