How many times have you heard homebuyers and sellers say, “Maybe we should wait until the spring to make a move…”?
As the weather turns cooler, we’re starting to see home sales slow across much of the country. And many local markets are experiencing their usual annual dip in home values as buyer demand decreases during the fall and winter months.
But many buyers and sellers could benefit from entering the market now! And if you can explain how to take advantage of cooler market conditions, you can grow your real estate business, even while much of the market is slowing.
So, in this article, we’re exploring common seasonal real estate questions from buyers and sellers, and we’re sharing scripts you can use to answer these questions in a way that informs and encourages your clients.
5 Common Seasonal Real Estate Questions (and How to Answer Them)
Question 1: Do Property Values Dip in Colder Months?
Your answer to buyers:
Typically, yes, values decline a bit during the colder months and then go back up in the spring. This temporary dip gives you the opportunity to get a better deal on your home purchase than you could get during the spring or summer! Have you already decided on a price range for your new home?
Your answer to sellers:
Typically, yes, values decline a bit during the colder months. While they usually go back up in the spring, there is no guarantee that values will rebound to this past summer’s levels. Plus, we also usually see fewer homes listed on the market during the colder months. This means lower seller competition, which can make it easier for in-demand homes like yours to stand out in the autumn and winter months. Were you looking to net a specific amount from the sale of your property?
Question 2: Why Are Property Values Affected by Seasons?
Your answer to buyers and sellers:
Property values are a result of supply and demand, which shift by season. Traditionally, we see a flood of buyers in the spring and summer because families with school-aged children are looking to move before the start of the next school year. This increased demand can temporarily increase property values during the summer and decrease values during the winter. However, there are many other factors that impact the value of a given property, so it is possible for a home to buck the seasonal market trend. Let’s look at what’s happening in the market now and what it means for you…
Question 3: Do Houses Take Longer To Sell in the Winter?
Your answer to buyers:
Typically, yes, homes can take up to twice as long to sell during the winter as in the summer. This is one of the reasons many buyers prefer to house hunt in the fall and winter; slower market conditions mean a lower chance of competing offers and bidding wars, both of which add pressure to your buying decision. How soon were you hoping to move into your new home?
Your answer to sellers:
Typically, yes, homes can take up to twice as long to sell during the winter as in the summer. This is good news for sellers who want to take the process a little more slowly. But if you’re looking for a quick sale, I have several strategies that can speed up the process for you. How soon were you hoping to move?
Question 4: Are There More Delays in Transactions During the Fall and Winter?
Your answer to buyers and sellers:
You might see a slight delay if your closing is scheduled near the holidays because the escrow officers, lenders, and title reps that we rely on to facilitate the deal could be out of the office. But these professionals are usually careful to complete their tasks before leaving for the holidays. It’s actually less common to see delays during the fall and winter months because there are fewer transactions this time of year, which prevents a backlog from building in the industry. Are you looking for a short contract period?
Question 5: Should I Wait Until Spring to Buy/Sell?
Your answer to buyers:
Of course, it’s up to you; whenever you’re ready to buy, I’ll be here to help! But if you’re looking to take advantage of the seasonal dip in values, I would encourage you to start the home search in earnest now. What do you think?
Your answer to sellers:
Of course, it’s up to you; whenever you’re ready to sell, I’ll be here to help! But if you’re looking to take advantage of the seasonal dip in housing inventory, you may want to list now so we can find your buyers before we see a flood of listings in the spring. What do you think?
Tips to Help Your Clients Make the Most of Their Fall/Winter Transactions
With your scripts in place, here are a few additional tips you can offer your clients to help them get the best possible deal this autumn and winter seasons.
Quick tips for homebuyers:
- connect with a loan officer or apply online at Keller Home Loans.
- browsing listings online while warm and cozy at home.
- Studies repeatedly confirm that buyers with fewer options are less stressed and more satisfied with their purchasing decisions. Remind your buyers of this if they express concern about a lack of inventory for sale.
Quick tips for sellers:
- tech resources offered by Keller Williams can give them a competitive advantage.
How Keller Home Loans Can Help
The last thing you need as a real estate agent is for your hard-won slow-season deal to fall apart due to financing. Keller Home Loans can help.
With our competitive loan programs and offer-ready pre-approvals your buyers can confidently make an offer, knowing that they’ll be able to secure a home loan. And, with My Agent Station, you can confirm that everything is on track for your buyer’s closing day.
Slow seasons don’t mean you’re working any less hard for your clients. Let us support you as you continue to serve your clients and grow your business!
