The real estate consumer has been buying and selling more during the spring and summer months for years now. If you think about it, buying and selling when everyone else does doesn't help the real estate consumer but hinder them. We understand it is cold, wet and not the ideal conditions to be looking to buy a home or be moving from one home to another. This week we share with REALTORS® and their clients the benefits of buying and selling during the winter versus waiting to buy and sell when everyone does. This we hope will equip you with facts and a strong reality check to combat the need to wait until spring.
Why Sell Your Home Now?
#1 – Only The Serious Buyers Are Looking Over The Winter
- Yes there are fewer buyers, but those buyers are usually very SERIOUS about making a purchase or many HAVE to make a purchase. Who else would want to look at buying during the winter?
#2 – Fewer Winter Listings Means Less Listing Competition
- Most sellers wait until the spring or summer to list, so your home will have far less competition
- Spring = Greater supply = Same Demand = Less Money
#3 – January Is The Biggest Corporate Transfer Month
- More corporate relocation moves happen during January than any other time of the year.
- Catch the corporate relocation buyers while you can.
#4 – Better Personal Prompt Customer Service
- By putting the home on the market during the winter you experience better, personal and faster customer service from movers, lawyers, banks, insurance providers etc. Listing realtors have more time to better serve their sellers and get all the marketing strategies in place.
#5 – More Bargaining Time to Get More Money
- By starting to market your home early, you may be able to secure a higher price with more listing exposure time. This season allows a seller to not be in a rush to sell and allow for more market exposure time and ultimately generate a higher price than in the spring.
#6 – Timing Is Everything. So Sell Now & Buy In The Spring
- If your home sells quickly, you will be able to shop for your next home during the winter, a great time to find a bargain!
- More time to look and not pressure to shop and beat the other buyers. Sell first and then buy in the spring when the inventory and selection begins to rise for you when you are the buyer.
#7 – Standing Out In A Smaller Crowd
- Most REALTORS® and offices have less inventory during the winter, enabling your home to stand out even more.
- Less marketing noise out there for the buyers and they see your home with ease now.
#8 – 20% Of Sales Still Happen During the Winter
- Buyers and Sellers are usually quite motivated to get the transaction completed. We still have 20% of the business in the year occurring during the winter.
- This can mean less price haggling and fewer hassles during the process.
#9 – Buying Without Having Something To Sell First
- By selling now you may have an opportunity to be a non-contingent buyer during the spring, when more houses are on the market!
- Less “subject to the sale” offers from buyers and you are not one of them when you are buying your next home.
#10 – No Yard Work When It’s Freshly Covered In Snow
- Great time for a home that needs a yard make over to sell.
- No need to worry about your yard work. Snow makes it look fresh and white
#11 – Buyers Time Everything Too
- Buyers begin the search and purchase for spring moves in January, February.
- Busy move times are March Spring Break, April Easter, May long weekend and July long weekends
#13 – No Pricing Wars With Others Sellers
- Less choice for buyers means less sellers to play pricing against each other
- Buyers will often make more concession in their buying decision with less choice
#14 – A Holiday Magic Feel To Your Home
- Property shows well, almost staged with holiday décor adding to the ambiance
- Tis the season for your home to shine!
#15 – Higher Quality No Looky Loo Showings
- Little chance of quick showings and not being prepared to show your home
- Easier time of year to make appointments and give sellers advance notice.
- Higher quality showings
#16 – Right Buyer, Right Time Odds
- The odds are the same for the right buyer looking at your home regardless of the season.
- Right buyer, right time, right home
Why Buy a House Now?
#1 – Fewer Or No Multiple Offers
- Little or no chance of multiple or competing offers for the buyer during this time of year
#2 – Better Personal Prompt Customer Service
- Better service from all service providers like the agents, banks, insurers etc. Not as busy now.
#3 – Sellers Are Motivated
- Sellers motivated at this time of year if still trying to sell from summer or fall.
- Sellers willing to negotiate, been on the market for some time now. Give and take.
#4 – Expired Listing Inventory
- Buyers can shop the expired listings market, which has the largest selection this time of the year.
#5 – Better Closing Options
- Good time of year to make an offer and do the due diligence, buyers can move quickly now or slower in the spring if not in a rush.
#6 – More Alternative Housing Options
- Easier for sellers to find alternative housing, not as much pressure finding a rental vs. the really busy spring and summer season.
#7 – Contingencies and Subject to the Sale Of Acceptable
- Great time for buyers to make contingent “Subject to the Sale” offers and get them accepted and movement on the price.
#8 – Better Available Moving & Service Providers
- Easier time for a buyer to move and find help and services like movers, cleaners, storage.
#9 – Smoother Mistake Free Completions
- Better timing for buyers on completions with lawyers, banks land registry. Not that busy and time to attend to you now.
#10 – Buyer Competition Lower
- Less competition for the same property from other buyers on the deals that pop up this time of year.
#11 – Having More Time
- Having time to make a decision and not be pressured in to offers or pressured into removing conditions or speeding up your due diligence time.
So there you have some compelling facts that will help you make a buying and selling decision earlier this year and avoid some of the common pitfalls of waiting until spring like all your real estate buying and selling competitors will be doing.
Strength and courage,
Wade
