Here in the city of dreams (!) Geelong, the festive season is often associated with cheer, celebration, and time spent with loved ones. However, those considering making a move or who need to sell their property for various reason being on the market over the silly season may present unique opportunities, at Kardinia Property we call this ‘Zigging’ (when others Zag). In truth, the success of your sale isn’t determined by the time of year, but by the integrity of your agent.
While it is a common belief that property sales come to a standstill over the festive season, this isn’t entirely accurate. Although some sellers may choose to hold off a property sale to the new year, we encourage sellers to be fully informed around the pros and cons of putting the property on the market, you may be surprised to know selling your property over the holiday period can certainly be a positive during the December/January break, especially here in Geelong.
Pros and cons of selling your Geelong property over the holiday period
Pros:
- Less Competition: With many sellers choosing to wait until after the holidays, the reduced number of properties on the market can make your property stand. Less properties on the market means higher chances of a buyer choosing yours.
- Motivated Buyers: Many serious buyers are actively looking during the festive season, whether to meet personal deadlines and are hoping to be settled in before the new school year or when a new job starts.
- Increased Marketing engagement: After various in-depth conversations with the online portals such as realestate.com.au we know that the engagement from buyers has a huge spike at this time of year. Buyers have more time to engage and view properties and most have their financed pre-approved just in case something comes up during the break.
- Can Do AGENTS: Agents who make themselves available during this time are worth their weight in gold. It is rear that agents or agencies do this so look for one that offers this flexibility.
- The Heart Buyer: Buyers with a tight timeframe can fall into the category of the emotional buyer. The benefit of finding this buyer is that often pay higher than the marketed price and they normally come early in a selling campaign.
- Flexible Inspections: Your agent should be able to work in inspection with your own plans over this time. Private inspections with qualifies buyers offer less inspections in total however the quality of the buyers inspecting is dramatically improved. Look for an agent who is highly trained in understanding the difference between a qualified buyer and a browser.
Cons:
- Lower buyer activity: this is an interesting misconception. In one sense there may be less “browers” but on the other hand as mentioned above the qualifies buyers working to a deadline will be looking to inspect and purchase
- Opens/Inspections during a busy time: the traditional real estate model would suggest the only way to get buyers through your property is to OPEN it every Saturday and this may not be convenient during this time. Again, as mentioned above an agent who provides flexibility and works around you their client, is worth their weight in gold.
- Photos will be Christmas themed: We could recommend having photographs taken prior to the festive decorations going up. An alternative is using digital photo manipulation neutralise the property for marketing purposes. In real life some Christmas cheer can add a nice personal touch to the property.
- Distractions: The festive season can be a busy time for many, and potential buyers may prioritize holiday activities over house hunting. Again qualifies buyers will use this as an opportunity. If they are beaching it and not inspecting, they are not the buyers you are after anyhow.
- Closure of Services that support property sales: Banks, conveyancers and the like certainly have a period of shut down. If you are organised and have the Contract of Sale and Section 32 prepared prior to office closure dates, then the property can still certainly sell.
A few selling hints for the Christmas period; –
Start with an agent who has your best interests at heart
If you get this aspect right, everything else will follow. They will be able to tell you what the market is really doing (rather than what the media is reporting) and will suggest the best price that will generate the most interest and/or offers.
Prepare for a slower settlement
When considering selling a property during the festive season, one crucial aspect is the timing of property settlements. Typically, real estate transactions can take several weeks to finalize. With many people taking holidays and businesses closing for the season, delays can occur. Therefore, while some buyers may be eager to secure a property before the new year, others may prefer to wait until after the holiday hustle and bustle.
In many cases, it’s advisable for sellers to plan for potential delays in the settlement process. Understanding that banks and legal professionals might be less accessible during the holiday period is essential. This can help set realistic expectations for both buyers and sellers.
Photos before decorations
If your home does take a bit of time to sell, images of your home featuring Christmas decorations can be a timestamp giveaway of when the property was first listed. To ensure your property pictures remain evergreen, it’s probably best to deck the halls after the photo shoot or take them down when the photographer attends.
Want the best price for your property?
At Kardinia Property, we will work with you to maximise the final sale price of your property using our proven smart sale method at any time of year. Chat with our agents on 03 5292 8084 or contact us online.