Hey it’s September. We’re about to enter the zone of pumpkin spice everything, rich burnt oranges and deep plums. However, some of you in real estate may be mourning the passing of July’s peak sales. According to Jonathan Smoke “raw data tell us that real estate follows a clear seasonal pattern. Inventory peaks in the summer. Sales peak in the summer. Real estate Web traffic peaks in the summer.” Not so fast! Summer’s gone and maybe the overall real estate market is cooling, but with a little bit of marketing strategy, you can keep your business hot. Here are a few pieces of “raw data” to put the hot in your cocoa.
School Calendars and Weather Can Shift the Peak
Sure school calendars make a difference, but are there any year round schools in your area? We have a whole district near me that adjusted start and end dates due to strategically allowing seniors to get out in early May so they could be ready for transition to college life. This can certainly affect the timeline of those looking to buy or sell a home.
Also, what’s the weather like in your area? If you’re in a warmer climate, you may not be victim of the cold weather slow down.
Who’s Buying: Christmas Gifts and Seniors
And even if these are very realistic concerns in your area, what are some tidbits to use in your favor?
If December and January are peak months for the age of inventory, this now becomes an incentive for buyers to step in to get their best deal. And hey, I’d love my spouse to buy me a house for Christmas. Start a campaign telling prospects why the Winter inventory offers them the best time to “buy low.”
Next, know who’s more likely to buy! Turns out according to Real Time Economics, of the 860,000 new households created in the last fiscal year (July 1-June 31), two-thirds of new households were created by seniors between 65-74. Find out what attracts seniors and host an event catering to their needs and tastes. What kind of programs go over well at senior centers? Incorporate one into your Winter marketing strategy.
Lastly, here’s an interesting nugget from Keeping Current Matters (don’t you just love the title?). About 36% of Americans have the misconception that 20% is an absolute down payment requirement to buy a home. Not necessarily so, but you can educate folks about this to open up the door of possibility for them. According to this site’s August 20th blog, Millennials know this, because 36% of them are putting down only 5%. But, since Millennials only account for approximately 13% of the market, do what you can to educate the other 87%! Maybe team up with a lending company to offer classes or make use of your social media to disseminate this rather powerful and motivating peace of data.
Heat Up Your Real Estate Business for the Winter
The point is, knowledge about your community, demographics, and fear based misconceptions that might be holding buyers back, can translate into increased sales if you gather such wisdom and use it to refine your marketing strategy for the season. So get ready to cuddle up with your snuggy and a pumpkin spiced latte to fuel you for the myriad of buyers looking for a smokin’ hot December deal. HouseHunt is always routing for you.
by: Wendy L.K. Rogers, M.A.