As 2011 draws to an end there will be the usual dilemma as some vendors contemplate what to do in terms of their property marketing. Many who have been marketing through online estate agents for some time may feel that it is time to rest their home and indeed themselves if they are finding that having their home on the market is unsettling.
After-all there are still mixed predictions for 2012. – The latest survey puts as many people feeling prices will fall as those predicting a rise. The upshot is likely to be a fairly flat market, as continued economic concerns and family budget cuts start to bite, balancing out any gains that may be made through more mortgage lenders returning to the market.
Advantages In Remaining On The Market
Tempting as it may be to have a rest, there can be clear advantages in remaining on the market for the last weeks of the year. Typically estate agents do not expect to receive many new instructions, especially once December is upon us; however it is not uncommon for the number of sales to equal those agreed in ‘busy’ months such as September.
This can be for a variety of reasons but particularly because:
Lack of Competition;
As other vendors withdraw, either through having sold or just taken their home off the market, it can be for the first time in the year that the supply of properties starts to balance to the supply of serious buyers.
Committed Viewers Only;
How many times does an estate agent hear the words “I don’t want anyone looking at my house unless they are serious”? Well as we approach Christmas with all the associated distractions such as shopping and parties, less committed viewers will have plenty of other things to occupy themselves with. – Those viewing at the end of the year will most likely be quite serious. People relocating for a Job move for example, starting a new position in the New Year will often want the added strain of finding a new home already taken care of.
Indeed Christmas often creates a psychological deadline for people, perhaps because many of us set goals for the forthcoming year. We clink our champagne glasses and make resolutions, and those that vowed to move at last new years’ eve did so with the full expectation that by this Christmas they would be happily in their new home.
End Of The Year See’s More Serious Buyers Through The Door
Many people start with an expectation or wish-list that can be quite unrealistic, but by the time the end of the year comes, those expectations are trimmed as reality sets in. Eager to find somewhere in order that at least they can celebrate the holiday knowing they have found somewhere, vendors can benefit from motivated buyers who are market aware. In short, a seller can expect less people viewing, but those that do come will be more likely to be serious.
Stay Focused, Targeted And Don’t Give Up
Our advice would be to check your price (look at sold prices and the asking prices of your competition), adjust if necessary, look at refreshing the photos or summary and stick with it. After-all resting and re-marketing next spring is unlikely to see you entering a bull market and with a fresh crop of new properties available the competition could be much stronger.
Blog post by Charles Lovell, Director at move4us | UK Online Estate Agents | Selling Properties Online
Connect with Charles via:
LinkedIn: http://uk.linkedin.com/in/charleslovellmove4us
Twitter: move4us
Facebook: move4us