Sellers want to sell their homes quickly and get a fair price. Agents help sellers by researching the best time of year to sell a house without losing money on closing day. The past few years have been a seller’s market, with more qualified buyers than available homes. As this market finally starts to slow down, smart sellers get maximum dollar for their properties with the right timing and price.
Selling a House Fast
Some sellers want to sell a house fast. They might need the money or have another home in mind and don’t want to lose the opportunity. Recent research revealed the first week of April is the best time to sell homes fast and for a great price. There is less competition, more views, and a house sells almost a week faster with minimal risk of a price drop. Other research indicates the first two weeks in May are the best time to sell a home. Savvy agents guide clients into the ideal timing to achieve their goals. However, spring is not the time to get the highest price for a home.
Getting the Best Price for a Home
Other sellers need to get top dollar for their properties to move forward. Prices traditionally peak in June. Potential buyers saturate the market with the idea of closing on a house before the kids return to school at the end of summer. Some parents are eager to move into another school district and are willing to pay a premium to do it. Agents should get to know the buyers’ situation and negotiate a deal accordingly to benefit the sellers.
Keep Track of Current Mortgage Rates
Successful real estate agents have a finger on the pulse of local market conditions, comparable sales, and mortgage interest rates. When the rates go down, buyers want to get into the market to avoid paying a higher rate in the future. A shift in mortgage rates can lead to more buyers than inventory, so homes sell quickly and for more money. Competitive mortgage interest rates may lead to bidding wars that ultimately benefit the sellers – and an agent who negotiates the best deal.
The Seasons of Selling a Home
The season is another factor agents must consider. Each season brings unique marketing conditions. Because few people want to move in the winter, these buyers are motivated and might be facing deadlines. Motivated buyers are willing to act now and agree to the seller’s bottom line. In the fall, sellers face less competition, and investors recognize the cost for home improvements tends to be less at this time. Houses sell faster in the spring and sellers can get more money in the summer. Well-informed agents can make a strong case for selling a house any time of the year.
Weathering the Weather
Current weather conditions also play a role in house hunting. Buyers might not want to head out to look at homes for sale in a winter storm or during the heat of the summer. Curb appeal is best during the spring and summer when gardens are in full bloom, and the lawn is green. In snowy states, buyers might not be able to see the benefits of a property covered in a wintry blanket. And agents should be aware of seasons that bring hurricanes, tornadoes, and other natural disasters people want to avoid. Encourage sellers to list a home when potential buyers can fully appreciate it.
Figuring Out Finances
A successful real estate agent recognizes the inevitable ebb and flow of finances. Many people get a tax refund at the beginning of the year, giving them extra money for a down payment and home repairs. During the holidays, people are often reluctant to spend money they may need for gifts or other celebratory expenses. When a large corporation opens in the neighborhood, it could bring recruits and attract people looking for jobs. Agents must be aware of local happenings to be well-prepared to help sellers and buyers make their dreams come true.
Timing is Crucial
Agents must know the right time of year to sell a house. Then the listing should appear when more potential buyers will see it. Saturday is typically the best day to list a house and market it because more people are home from work and researching homes for sale. A new listing soars to the top of the results. Motivated buyers who want to be first on the scene will contact an agent immediately to see the house. The right listing day can help accelerate the time it takes to sell a home.
Pull Out All the Stops
Whenever sellers decide to list and sell a house, an agent must pull out all the stops to market it. Knowing the seasonal differences, market conditions, and financial factors help agents target their marketing campaigns to reach the right buyers. Robust social media campaigns are an excellent way to focus on news, trends, and use this information to market houses. Better Homes and Gardens® Real Estate agents are affiliated with a leader in the social media space to help them reach more potential buyers. Knowing the best time of year to sell a house fast is just the beginning. Top earners also gauge a myriad of other factors to determine the most viable time to list a home. An agent who can sell a property quickly for top dollar is sure to get plenty of referrals after closing day.