Kim Mullan Blog
Should We Stay or Should We Go? - Selling Higher End Homes in the Off-Season Market
November 22nd 2016
Do you have a steady, strong, broad buyer audience for the type of property you are selling? Higher priced or Niche/Unique properties may have smaller audiences and longer sales cycles.
If you aren't confident about the strength and steady presence of your buyer market you need to ask yourself two very important questions...
Can you afford to lose a buyer while you take a break from the market?
How long might you expect to wait for the next potential buyer if you aren't visible and one of the competition gets their undivided attention?
As we are heading into the Winter market keep in mind that there are advantages to consistent listing exposure in the off season:
1- Less competition and less inventory than in the spring- as some sellers are holding off – if you are in a mid range property with a strong local audience looking to coincide moves around the school year spring selling may hold limited risk but if you have a smaller audience and executive buyers who may or may not be from our area, province or even country you can’t afford to miss an opportunity.
2- Many relocations occur at this time of year preparing to settle in at the start of the new year or for Spring.- recruiting often occurs in the off season so professionals visiting the city may be viewing less inventory
3- Showings are fewer and further between but the buyers are motivated to do business and are not out viewing homes as a leisure activity – they need to buy. As a bonus most of us are prepping for company and holiday events so our homes are more often show-ready.
4- Higher end homes in London have smaller audiences so they risk losing buyers that are not local If they do not stay exposed. With lower sales volume/audience the sale cycle can be significantly longer particularly if we miss a buyer during our “off-market” status.
There are several factors that can strengthen your winter showings-
try to incorporate all of the senses.
Stock up the freezer with frozen apple pies - throw one in the oven before a showing.
Scents evoke feelings of happiness, memories of holidays, family, celebration.
Ambient lighting/fireplaces add warmth and a sensory experience are hard to beat-
flames licking, candles dancing - it's evocative, it's romantic, it's magical and
it's dynamic..odds are you will move your buyer forward emotionally.
Stay away from unnatural fragrances and scents.
Leave cookies/squares out. Be hospitable. It's the time of the year for hospitality and
magic and if you play your cards right it can be the time of year for you to sell.