Should I Sell My House During Christmas?
I often get the question asked of me whether it is a good idea to sell a home during Christmastime?
When it comes to strategizing about timing to list your home, I have a few thoughts on this. Ultimately there are other factors besides Real Estate market conditions for you and your household, and they should play a significant role in your decision-making. A few examples could be not pulling the kids out of school, matching up a mortgage renewal anniversary, or having a new place when mom visits from England.
There are many reasons people choose to move, and luckily we are in the Vancouver Real Estate market that is pretty accomodating year-round. So with that said and leaving all things equal, let's discuss some of the benefits and disadvantages.
Advantages: As a seller, there is less competition; this can be a huge benefit. This can create extraordinary results for individuals with exceptional homes, and if your home is above average, it will undoubtedly find a moment to shine with less competition. Buyers will be shopping in limited supply, and your home's great features will stand out that much more.
Creating a warm and homey atmosphere is that much easier at this time of year. The sights and sounds of Christmas evoke emotions in most people that can help people picture themselves living in your space.
This time of year can lend a hand to dampening some of your home's imperfections. Naturally, this time of year is darker, and most showings will happen in the evening. So if your condo, townhome or house is a little darker, meaning it lacks windows, this will be more easily overlooked this time of year.
Buyers are more serious this time of year. The buyers that are out looking with a sense of purpose and urgency. Dealing with buyers is a lot easier this time of year. A lot less flakiness, as well as they, are shopping for homes in a more calm and measured fashion, you have time to listen to feedback and improve the home's impression if need be.
Disadvantages: The biggest one is along with fewer sellers; there are fewer buyers. Buyers will be away on vacation. Your chances of having a bidding war on your property will be lower. So if a bidding war is part of the strategy to sell your home, this is probably not the best timing for that.
"Distracted Realtor" some Realtors may want to wind down their business during this month. It is a slower time, and Realtors may commit to more events with family and friends and be less interested in showing homes and doing open houses.
Things can be slower around Christmastime; buyers will most likely need to get financing, and getting your answer on whether they can remove subjects could take longer. Not a huge issue but worth mentioning.
The last point I'd like to mention is buyers will be suspicious. This is because buyers are always trying to formulate their ideas as to the seller's motivations. Unfortunately, they often assume the worst. For example, they may believe there is a build-up of debt or divorce. If you have a clear explanation that doesn't hurt your position, it is probably a good idea to empower your agent to share that during the showings.
So what is the best plan moving forward? If it works for you and your household, there is no real disadvantage to listing your home during Christmastime. I would recommend a few things and have a firm plan in place with your agent. One thing I have done in the past was to have two sets of photos. One set is done without the Christmas decor in case the sale takes longer than the Christmas season. It would be essential to have the images online not share the length of time the home has been on the market.
I sit down with clients and map out a showing schedule and open houses ahead of time. It is essential to be clear on expectations. As I mentioned initially, the Vancouver Market is active enough year-round that I don't see a real need to be highly calculated about when you list your home. If you do have any more questions, I'd love to be the guy you ask.
Shoot me a text at 604.340.3734, and I'd be happy to answer.
I'd like you to think of me as your "Phone a friend" for all things Real Estate.
Cheers,
and Happy Holidays :)