Summer is getting smaller in your rearview mirror and with it goes -- some Realtors believe -- the best part of real estate's buying and selling season. But before you believe them, you might want to take another look through your windshield and see what's right in front of you: fall.
Turns out fall could offer a smooth road to sales - maybe even better than summer. But don't just take my word for it. RealtyTrac, the real estate information company, analyzed more than 32 million sales of single family homes and condos since 2000. The findings: the month where buyers landed the best deal on average is October. Of the 2.7 million sales closed in October over the last 15 years, the average sales price was 2.6 percent below the average estimated full market value at the time of sale.
Why is this? A few reasons:
1. Less competition. When other Realtors take their foot off the accelerator in the fall, there's more room for you to pass them by. Plus, you automatically get more room for bargaining because fewer buyers mean a more level playing field, thus buyers may be able to get a home at a reduced price. You may have witnessed bidding wars this summer. Analysts say that craziness is less likely this fall. And when you run into a seller who had hoped to sell during the summer, your chances rise even more.
2. Tax breaks. A timely motivator you can use with buyers in the fall is tax savings. Homebuyers can tap the mortgage interest and property tax deductions. These can save buyers tons of money.
3. Interest rates. Consumers got some good news at the end of summer - the Fed didn't raise interest rates - for now. Use this news to your advantage and explain now is the time to buy before the Fed actually does raise rates. And we all know they will - it's just a matter of time. And when they do, purchasing power takes a dive.
4. Emotions. The fall gets people thinking about the holidays. And we all know emotions run high during the holidays. The idea of celebrating the holidays in a new home can add fuel to those emotions.
So, yes, fall is a great time of year to keep the gas pedal down. But here's another message I want to get across: Real estate is a year-round business. You don't have to travel through the high peaks and deep valleys that so many Realtors complain about. You can even things out with the right mindset and actions.
First, the mindset: you have to truly believe you can close deals in any month of the year. And believe me, it's true. I coach clients who often bring in steady amounts of money throughout the entire year.
Second, the actions: behave in a way that matches your new mindset. That means talking real estate with prospects - you guessed it - throughout the year. Stats say one in five people will make a change in their housing over the next three years. That may or may not be true. What is true is this: real estate sales happen year round. So it's up to you to get that business. First believe, and then act by getting in front of prospective buyers and sellers. The secret is no secret at all. Go sell.
Share what you're thinking. Are you stuck in the mindset that real estate is seasonal? If so, are you willing to look at the possibility that you might be able to sell well throughout the year? What can you start doing today to make fall a more productive time of year for you?
Article Source: http://www.abcarticledirectory.com
Bubba Mills is executive vice president of Corcoran Consulting and Coaching Inc. (800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems for residential REALTOR, mortgage brokers and real estate companies.
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