When is the best time of year to sell a home, as that’s usually when real estate buyers must be better shoppers and negotiators. ATTOM Data Solutions collected home sales data from 2011 through 2017 and found that May and June were consistently the months when seller premiums were highest.
The seller premium is the price at which a home sells above estimated market value. May averaged 5.9%, and June averaged 5.8% for seller premiums. They were the only two months with seller premiums over 4.2%. That 4.2% was the third best, and it was for August. All other months were under 4%.
Gather your own data, and start early so you can make decisions and set up marketing. You want to be doing the right things to attract buyers to your website and convert them to prospects when they’re ready to buy.
Gather Data - Make a Plan
The months vary a bit based on seasonal changes and your market area. In the deep south and Florida, summer buying starts earlier than in states farther to the north. Your big months may begin in April, or they may not start until June or later. Get an idea of when your biggest home buying months are so that you can plan and implement your marketing.
Once you know your top seller premium months, you can plan and start your marketing to attract buyers in time to get them into the market before the best homes are sold. You know what marketing works best for you, from email to direct mail, so set up a plan to saturate your area with real estate buyer marketing at the right time.
Show Buyers You Can Help
Today’s buyers have more information than ever before online. They know the hot months for home buying. They also know through reading articles that they’re likely to have to pay more for a home during the high traffic summer months. Work that knowledge in your favor.
Market to Their Concerns
If prospective buyers already know that there will be more buyer pressure in certain months, they are concerned that they may have to wait many months or buy less home at a higher price. You should position yourself as a buyer representative with the market knowledge to help them get the home they want at an affordable price when they want it.
Starting early, you can market online, in emails, and in print that you are ready to help buyers fast-track their buying process to get ahead of the high seller premium months. Urge them to move quickly to save as much as 5% or so on the home of their choice. Use your area’s seller premium data if you can get it, or use averages.
Once you’re going into the heavy traffic months, change the marketing a little. Tell buyers that you specialize in helping them to avoid competitive bidding and to locate homes during the peak months that can be bought without a seller premium. You’d be looking at days on market and other factors that tell you
Of course, you’re also checking to see if any are listed below true value. Even with a seller premium, these homes are a good buy. You just need to show buyers that you know the difference and can steer them in the right directions.
Timing and Message Work
Work on timing your marketing and message to reach buyer prospects when they’re most likely to respond. If you do, they’ll be more likely to move from prospect to closing in a short straight line.