According to the Zillow Seller’s Guide, “Nationally, the best time to sell a house is March if you’re trying to sell quickly, while the best time to maximize profit is July.” We’re coming off a slow Winter, and there are storm clouds on the horizon, but we know you’ll want to be prepared.
Current conditions and what to do:
- JANUARY PENDING HOME SALES UP 8.1%: This beats expectations of only a 1% rise. However, mortgage rates were up in February, and we do not have those figures yet.
- RATES SHOW NO SIGN OF PAUSING: This means residential home sales will be below last year again, which means your marketing efforts must be stepped up.
- ALTERNATIVES TO RESIDENTIAL: Storage, Office, Commercial, Referral, Word-of-Mouth. Be sure to be working with your sales team on these other channels.
- WELL-PERFORMING SITES ARE STILL GETTING GOOD LEADS NUMBERS: It’s not all doom and gloom out there. Our clients’ well-positioned sites are getting new leads. It’s not 2020 or 2021, but it’s not dead.
- SPECIAL OFFERS ARE IMPORTANT: When the supply of moving prospects dwindles, we must be sure to close the fewer number that are out there. Hook them in with a great offer.
- ADVERTISE: Google Ads done right will get you more business. Just running an ad on Google Text Search is not enough. You need to know what you’re doing. This is a science.
- BIG HOME SELLING MONTHS ARE HERE: As you read above, March is the best time to sell quickly, but the months with the highest premiums over asking price are March (8.9%), April (9.2%), May (12.6%), June (10.7%), and July (10%) according to Econ70.com
Home buyers and sellers will need to adjust. The chances of going back to 2.99% again is low. People will need to move for a variety of reasons, and you need to be visible to get that moving lead.
Onward & Upward!