There is no denying that there is a good time of year … and a not so good time of year … to sell your home.
In fact, the school calendar has more to do with real estate than most people realize. During the spring and early summer months, many prospective home buyers are out shopping for the new home.
The motivation is to make the move during the nice weather of the summer months and to be settled in time for the first day of school in September.
While these cycles used to be a reliable way to base annual home sales, because most of the people shopping for homes were families – today’s home buyers are a much more diverse group and do their shopping all year round.
There are two main groups that have entered the home buying process and each should be marketed to differently.
Marketing to Millennials
Growing up in the technology boom has left millennials ready to buy around the clock. As long as they can get to their tablet or smartphone to look at listings – they are ready to make a purchase.
While it is great to have fresh eyes on your listing 24/7, it also means that you need to keep your home ready to show at all times.
Millennial buyers are looking at listings around the clock and they will not wait for an open house. They will contact you asking to see the home on their timeframe and will expect to be accommodated.
As soon as your home hits the market – the listing MUST be accompanied by high-quality photos. Millennial buyers will sign-up for text notifications of homes going on the market that meet their criteria, but are likely to pass on the listing if it doesn’t have any photos of the property.
This buyer set is always online and they are highly visual. Hire a real estate photographer and invest in professional photos. That is what they want and that is what will get them in the door.
Marketing to Empty Nesters
If there is a polar opposite to millennials … it’s empty nesters. These folks are much more methodical and slower about their buying decisions. They expect to be allowed the time they need.
Empty nesters have raised their families and are looking to downsize, which means that they are likely selling the home they have been living in for the past several years.
When they come to the table with the added emotional stress of letting go of their family home, they need some time to process their decision and feel good about it. Give them this time.
Empty nesters will not respond to a sense of urgency on your part. They will answer emails or text messages slowly. In fact, you may need to check your messages after hours several times when working with empty nesters.
Remember, this is a group of home buyers who have decades of experience and have been through at least one financial crises. They are cautious and thoughtful about their financial decisions – especially now that they are facing life on a fixed income.
Of course, in addition to these new groups of home buyers, you still have the families who are shopping for homes during the spring and early summer.
A good real estate agent knows her buyers. She meets them where they are and learns everything she can about them to make the buying … and selling … process as smooth and stress-free as possible.