When is the best time to sell your house?: A guide for your clients
Commission Advance for Real Estate Agents
As a real estate professional, your clients look to you for all kinds of help when selling their home.
The best time to sell is one of the most important questions to answer for you and your clients. After all, a listing posted at the optimal time can mean a higher sale price for the owners along with a larger commission for you.
You can use this guide as both a personal refresher on the best time to sell a house and a valuable resource to share with your clients.
What is the best season to sell a house?
Broadly speaking, late spring and early summer are the best time to sell a house. More specifically, Zillow found homes listed between May 1 and May 15 provided the best financial return and took the least time to sell.
It’s important to note that the specific time period for optimal results can shift based on your home’s location. Zillow’s breakdown of 10 top real estate markets saw start dates as early as April 1 (for Washington, D.C.) and end dates as late as July 15 (for Atlanta, Dallas and Miami).
Bankrate highlighted a few reasons why this time of year is the most fruitful for putting homes on the market, both in terms of higher prices and sales days faster than during other periods:
● More comfortable weather, which makes it more appealing to do things like travel to listings and inspect the outdoor area around the home.
● Finding a home during school summer vacation, which allows children to avoid changing schools or districts during the academic year.
● Daylight saving time, which increases the number of daylight hours and can encourage more visitors to an open house or listing.
Getting ready to take advantage of a seller’s market
These factors regularly create a market where you’re at an advantage when listing your home. However, you can’t rely only on the annual increase in buyers to provide a quick sale and a better price. Your home needs to be in the best possible shape to create the most attractive listing possible.
Some steps are simple, like decluttering, organizing and cleaning, both inside your home and outside of it. You and your agent should also consider staging your house to make it as attractive as possible. While staging isn’t absolutely necessary, it puts your best foot forward and can allow the interior to appeal to the broadest array of home buyers.
If you own a fixer-upper home and don’t want to make the potentially major investments needed to bring it to a like-new state, check out our guide on selling this type of house. Certain actions, like highlighting the positives of the home and presenting it as a canvas of sorts for the new owners, may be a more effective use of your time.
What is the slowest month for real estate sales?
The National Association of Realtors said November, December, January and February have the lowest amount of home sales. Specifically, January is the least attractive time for buyers to purchase a home.
Considering the reasons why home sales in late spring and early summer generally increase, it shouldn’t be a surprise that the coldest, darkest months of the year are usually a slow time for buyer activity. Kids are in school, days are short and the weather can both create dangerous travel conditions and make outdoor review of a property much less enjoyable.
Understanding your local market
These broad trends are a great way to understand the best time to sell your house in general. However, deep knowledge of your local market is invaluable. The area you live in may be an outlier in general, or it may have seen a recent increase in activity that could mean listing your home as soon as possible is in your best interests.
Your real estate agent, and their network of fellow professionals, has their fingers on the pulse of your local market. Discuss trends and opportunities with your agent for the most detailed local picture of the market.
Effective financial assistance for real estate professionals
Even when a seller’s market is in full swing, complications can arise. Last-minute hesitation or a problem only discovered at the last minute can lead to significant delays in closing.
Just Commission Advance is dedicated to providing cash advances on pending sales. Our advance process allows real estate professionals to better manage their finances – and their business as a whole – despite the often uneven nature of income in this field. To learn more, check out our FAQ and apply for your advance today.