Listing your house in the winter months
AM 570 Podcast
Column from The Wave
As we commence the holiday season, most of us are understandably thinking about so many other things besides buying and selling a home. While it’s absolutely true that the volume of people attending real estate showings decreases from Thanksgiving until after the new year, that doesn’t mean that the industry grinds to a halt; at least not for everyone. When I first entered this profession over a decade ago, I was told by senior agents to anticipate the annual lull during the holidays and perhaps even use the quiet time to travel; On the contrary, I’ve experienced December to be a very busy time throughout my career. I’ve also facilitated countless closings, inspections, appraisals, etc. during this time as well. In essence, sellers shouldn’t worry much about their listing during the holidays but their brokers must.
While I generally advise my clients that it’s best not to plan an open house between the holidays, that doesn’t mean that I’m against it all together. Sometimes circumstances dictate the terms. In fact, I can recall hosting one of the busiest open houses of my career many years ago during a freezing cold weekend around the holidays. That was a sale where an elderly lady recently entered an assisted living facility and her children didn’t want to lose any time in liquidating her property. Needless to say, we priced it properly, drew a tremendous crowd, and ultimately sold that worn-out house for a record price well above asking despite the brutal weather or time of year. Regardless of what the calendar may say, when a property is professionally represented and presented to the market, buyers will take notice and respond. Furthermore, those buyers who do come will be the most motivated ones around.
Quality prevails over quantity in real estate, especially when it comes to buyers. Serious buyers are always monitoring the market and constantly receiving updates to their smartphones from many different sources. Besides the several major real estate apps out there, I’m a broker who keeps an extensive database of active buyers whom I’ll contact whenever I bring a property to market that may fit their needs. Motivated buyers eagerly wait on new listings and will act fast to visit when presented with one that’s priced right and in their preferred location. Still, brokers need to be aware of all holidays when planning a listing’s marketing campaign. As I always say, maximum exposure leads to maximum price. With that in mind, I would never recommend scheduling an open house too close to a holiday. Neither sellers nor buyers prefer showings on or around their respective holidays. Wise and prudent brokers consider the cultural and religious holidays of the potential market, as well as those of the seller, when planning a listing’ s marketing and showing schedule.
I always recommend a 3-4 week marketing campaign in order to reach the full market and guarantee a sale for top dollar. Comprehensive marketing takes time and money to get the best results. So when someone calls me to sell a property, I consider that a commencement of a plan rather than a race to the finish line. My process typically takes about 16 weeks from listing date to closing date. When sellers call me right before the holidays it works out perfectly because the marketing campaign will take place during the holidays and showings can therefore begin immediately after the new year. On the other hand, if I’m called in late October/early November, I’ll typically recommend we yield to the major holidays ahead and wait a couple of extra weeks before entering the market just for good measure.
