We already covered my feelings on jolly old Saint Nick, so today let’s instead focus on the real estate market during the “slow season.”
You might think that this time of year is a good time to pack it up and take your listings off the market. Better to wait until the coming months and put your listing back up for fresh traction, right?
No way!
The so-called slow season can be a great time to market your real estate listings, especially for Kansas City real estate agents. Here’s why.
1. Buyers Are Always Connected
While conventional wisdom says to wait until spring to get the most out of your listings, that thinking is changing. In fact, you don’t even have to wait until after the holidays anymore.
The traditional thought is that people are too busy during the holidays to think about buying a home, but people are now more connected than ever. Simply put: technology makes these views outdated.
The modern buyer is always looking. Buying a home can easily become a 24-hour hobby, just as addicting as scrolling through social media. Your target customers never go off the grid, they’re always connected and remain on the hunt.
No longer do you have to wait for the snow to melt — technology allows the home search to continue no matter the conditions outside. You think I want to go to an open house right now?
Heck no. I’m wrapped in a cozy blanket while I type this watching the Chiefs game! But I can sure look on my phone. And buyers can easily sneak away from the family for a few minutes and fire up Zillow to peek at the available homes in the area (in fact — not a bad idea!).
Plus, people work right up until Christmas and are pretty much always on their phones. If your property is not in the mix — you’re missing a great opportunity for exposure — especially since a lot of your competition still thinks the old way.
Speaking of which…
2. There’s Less Competition
Remember that conventional wisdom I mentioned? The wait until spring thing? That’s still common thinking to get the most from a home sale.
However, homes listed during the slow season can actually command more money AND sell quicker than those listed in the spring. A big reason for this is that there is less competition in the market.
Many people and agents still don’t list their homes around the holidays, so those shopping won’t have dozens of listings to look through. Inventory picks back up in the spring when price wars break out in coveted neighborhoods. But during the slow season, there are limited choices, which means a homeowner can net a higher asking price.
3. You’ll Be In Front Of Serious Buyers
Those looking for homes around the holidays are typically going to be serious buyers.
Hitting an open house is a favorite pastime for many casual homebuyers or just those who are curious about what that house down the street looks like inside. But this is likely only when it’s convenient, and not around the slow season when it’s cold and family is in town. Those who come to an open house during the slow season are likely serious about buying a home, and may have an immediate need.
In the spring? Forget it. Anyone and everyone will drop in, often on a whim and without a hint of a plan.
Some home buyers may find the sheer amount of people at an open house in spring to be overwhelming. It can feel cutthroat and add pressure to the buying process, which can already be a stressful time. The sheer amount of people may distract them and not allow them to give the home a thorough walkthrough. This frustration may give them a bad feeling about the house itself.
But in the slow season, they may have the place to themselves. No one breathing down their neck or looking over their shoulder. No added pressure.
Consider also that buyers during the slow season may have a family situation that has caused a need to move ASAP. Maybe they’ve been relocated for a job and have limited time or have a growing family. It doesn’t matter what the temperature is outside — these people still have to move!
So although your listings may get less traffic overall, those looking are most likely serious and willing to do whatever it takes to secure a home. If they show up for an open house during this season, you know they are serious.
As a bonus, this eagerness or desperation often means that they are ready to pull the trigger, which can result in a quicker sales process.
4. Make the Home Feel More Homey
This time of year already gives a strong pull toward home. It conjures certain images in buyers’ minds and changes how they view a home.
And when else does a home feel more like home than during the holidays? The holidays are an emotional time and this has an influence on your buyers. They may make a decision based more on how a house feels than they would at other times of year.
Real estate agents can take advantage of this in how they stage a home during this time of year.
If there’s a fireplace, you better have that thing lit to show them where the family could gather. Have some hot drinks available. Burn some candles. Give off that comfy homey vibe that your buyers are looking for.
5. Serious Buyers Are More Motivated To Close The Deal
Everyone involved is, actually. From lenders to brokers as well as the buyer and you, the realtor, all parties are motivated to get a deal done quickly this time of year.
This gives the process a welcome focus and can make closing faster. There are incentives to finalize the deal faster — such as sellers who are ready to move on, buyers with a need to move in, and, of course, your commission.
This isn’t to say you should be pushy — communicate with your buyers and work together to close the deal quickly, easily, and painlessly, but don’t make them feel like you’re forcing their hand. When the time constraints of all parties involved are respected, you will likely find a grateful and speedy resolution to the deal.
Summary
As you can see, the incentive is there to be an active seller during the infamous real estate slow season.
Soon to be a thing of the past, the slow season is a prime time for you to put your listing in front of serious buyers who are highly motivated to get a deal done quickly. You can use the season to your advantage, going up against less competition and using the season to make the home feel like home.
You might need some professional help in this area, too.
While pictures of your listing during the spring and summer help your buyers visualize what the place might look like at that time of year, it may not bring them out in January. Consider hiring a professional real estate photographer like me to stage and photograph your listing during the winter months to capitalize on this emotional time and bring serious buyers to your door.
Get in touch today and we can set up an a la carte package that best suits your needs!
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