Black Friday is known for great customer deals. Consumers often scour sales flyers before planning their shopping trips. In real estate, there isn’t a Black Friday flyer, but there are still ways to take advantage of the discounts related to this season.
While it’s unlikely that buyers will find huge markdowns on Black Friday, the end of the year is often recognized as an opportune time to purchase a home. The market is a little quieter, and sellers may be more willing to negotiate their asking price. To help you navigate this season, here are three tips to make sure your clients are getting the best real estate deals around Black Friday.
1. Check Out Stale Listings
Around the fall season, there are often a number of nearly expired listings sitting on the market. These are the ones that were listed during the summer, but may not have had the marketing or pricing to sell during the busy season. By this time, sellers are highly motivated to move their property, especially with the end of the year approaching. Mention to your buyers that it may be a good idea to look at these properties first, since they may be able to negotiate a better deal.
From a seller’s perspective, now is the time to really push to attract the few buyers who may be searching for homes right before the holidays. Tell your clients you’d like to update their listing photos or even reduce their asking price. This is also a good opportunity for you to review your marketing strategy. If you haven’t utilized social media or hosted an open house in a while, this could be the time to do so. Finally, if sellers have been resistant to any maintenance or staging, use this as an opportunity to re-open that discussion, since you’re hoping for an influx of new potential buyers.
2. Come in Prepared
Even if their home isn’t on the market because it’s leftover from summer, sellers who list in the fall are usually more serious than those listing during the summer. They could have been waiting for a home to be built or they may have taken an unexpected job in another state. This means they may be more willing to negotiate. Be sure your clients are aware of their minimum and maximum limits so they’re able to make easy decisions. They should also be preapproved for a mortgage, but this should be step one in any home buying process.
Sellers should also be aware of their minimum and maximum limits so they know what they’re willing to accept. If a potential buyer approaches them with an offer lower than what they expected, they need to know how low they’re willing to go. This is an important conversation to have before listing their home.
3. Get the Timing Right
For buyers, if a home does have multiple offers, let sellers know your clients are willing to close quickly. Many people may not want the added stress of moving during the holidays or their home may have been on the market for months. This could give your client advantage over someone who may need more time.
On the other hand, for sellers, if buyers are asking for a later closing date so they can move after the holidays, try to be accommodating. In addition to this, keep in mind that potential buyers could also be looking to move quickly. In this case, as your clients to be open to last-minute showings.
Follow these tips and hopefully your clients will be out with the old and in with the new by the end of 2019. If you are busy with clients that are looking for new homes, then you may need some additional help for handling those incoming leads. If you are concerned about managing any incoming leads while you are away on vacation, don’t worry, Homes.com is here to help. With Homes.com Lead Concierge, we will contact and screen any leads for you so that you don’t have to worry about your leads while you are away.
Mark Mathis is vice president of Sales for Homes.com. For more information, please visit marketing.homes.com.