The obvious Spring selling article
Real Spring, not to be confused with Fool’s Spring is nearly here.
Historically, late March through to June has been thought of as the best time of the year to sell a property because buyers are out in force. People are seen to come out of literal hibernation after the winter with a view to buying quickly and buying well.
Buyers with children are looking to secure a home close to their preferred school before the new school year begins and we’ve all heard that the warmer weather makes for a more pleasant viewing (and moving) experience compared to the colder months.
But is that the real truth of selling in Spring? Here’s a few things we think estate agents should know about selling in Spring.
It’s not really different to any other time of year
Sure it’s a bit lighter and a bit warmer, and you’d be silly not to use this to your advantage. But make sure you educate your clients that you are always competing for buyers’ interest all year round and do not simply “up your game” due to one time of the year or another.
Make sure you communicate clearly that you always present properties at the highest standard and you follow a process that delivers the best results no matter the time of year. Could be a win-win for us all.
Days on market matter
At this time of year, vendors are looking to sell prior to Summer holidays, so be mindful that days on market will be something they are looking at. How have you performed this year so far? It’s no longer just about how many properties an agent has sold or let - or for how much - your clients are looking for someone who understands their needs and can offer a holistic process and approach.
Go big and go wide on social media
Produce content around your instructions. Don’t just do a video of the home. Do a walk through of the street, interview the sellers (if they are happy to be on camera) about their stories in the home. Film the board going up. Do a behind the scenes series on what it takes to get a home ready for market the right way.
Get multiple edits that can be shared across all of your social media platforms and in your communication to your existing database. Remember, most people will engage the last agent they spoke to. Now is the time to get top of mind. NB: Don’t forget to allocate budget to promote the content around your local area.
Weekday inspection times
Praise British Summer Time! Those clocks rolling back an hour mean you’ve got a powerful tool in your arsenal for the Spring (and Summer). Twilight weeknight viewings.
Let your clients know you intend to pick the best time for the property to be showcased at its best. If they say it’s not convenient, ask them how much they value the best price? Now more than ever it is so vital to show a potential buyer (or tenant) what life at the property is actually like.
A 15 minute viewing on a Wednesday at 7pm does this so much more than 15 minutes at 2:15pm on a Saturday ever will (use this exact language in your instruction presentation, it works).
Get the property styled and charge it to your client.
We all know to sell well you have to stand out. And styling the property does exactly this. The right styling will present the home in the right way to the right demographic of potential buyers. It has been proven to significantly increase the sale price time and time again.
This is where you need to be brave. Consider this as part of the optional vendor paid marketing budget moving forward, rather than as an added expense.
Remember you promise process, not price.
You holding the costs of furniture hire against the property would be a liability you own against the property. You will want to rid yourself of that liability as fast as possible. Think that will lead to the best possible price? We don’t. Explain that to your clients to help them understand why they’ll be the ones paying for it.
To bring it all together...
We are expecting to see the popularity of vendors choosing this time to instruct their properties for sale continue.
We are expecting the whole UK market to heat up (pun most certainly intended) with more properties hitting the market and a number of highly motivated buyers (with bigger deposits in tow, given the hand-sitting going on over the last quarter or two) ready to make a decision.
With increased competition comes the need to innovate and keep up with the times. It’s no longer just about getting some photos up on those websites who shall not be named and taking names and numbers.
To stay relevant and competitive; and to make sure that not only your clients properties are being noticed but you as an agent are too; educate your clients on the right process, encourage them to think outside the box and invest in their marketing campaign if needed and work your arse off this Spring.