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Tens of thousands of homes are sold every year but fewer homes are sold in the cold, winter months. Selling your home in an off-peak season is never ideal. January is one of those tricky winter months where there are a limited number of potential buyers compared to spring and summer months where we typically see a hot real estate market.
There are a number of factors reducing the number of potential buyers in January:
- Buyers are still in holiday mode or on vacation
- Budgets for the year aren’t finalized
- Buyers do not want to make a big move in the winter
- Snow and bad weather make it difficult for showings
Although these are just some of the reasons why January makes it a difficult time for a seller does not mean it is impossible. If you are in a position where selling your home in January is a must then do not worry – it is not impossible to successfully sell your home at a price you are happy with. In fact, you can still sell your home quickly, even in January.
Having helped countless homeowners sell their homes in January, here are my 6 trusted tips to get the job done.
1 - Work With An Experienced Real Estate Agent
The most important tip to selling your home in January is working with the right real estate agent. An experienced real estate agent like Port Credit real estate agent Marco Pedri, will know the trends of the market and be able to help you navigate a sale in an off-peak season.
Not only will an experienced real estate agent be able to help you understand market trends, but they will likely already have a list of potential buyers. Most professional, full-time REALTORS® will already be working with a handful of winter buyers. By working with an experienced agent to sell your home in January, you will also gain access to their list of motivated buyers.
2 - List Your Home At The Right Price
As tempting as it may be to “test the market”, January is not the time to do so if you are serious about selling. You do not want to list your house at an above-market price in the hopes of getting it when in reality, all you will be doing is stigmatizing your home. Serious buyers will look at how many days your home has been on the market. If it sits on the market for too long, they may jump to conclusions thinking something is wrong with the property, and be hesitant to make an offer.
Instead, you should consult with an experienced real estate agent to get an evaluation of your home. Marco Pedri, Broker with Shoreline Realty Corp., Brokerage offers free home evaluations to help you know what you can expect to sell your home for and what you should start with as an asking price.
3 - Winter Curb Appeal
You probably hear the term “curb appeal” being mentioned a lot in the spring and summer but personally, I think curb appeal is most important in winter.
Curb appeal isn’t just about a mowed lawn, clean windows, working lights and flowers. Curb appeal is just as important in winter because it makes the difference if a buyer will even make it to the front door. I’m talking about a clear path from the driveway to the door. Winter maintenance is incredibly important in the winter, especially when selling your home. You want to make sure there is a clear path free of snow and ice.
Always be prepared for inclement weather and keep a bag of salt and a shovel nearby. It might seem like an annoying, sometimes even difficult task but it is one of the key differences that makes your home’s exterior more inviting and safe.
4 - Leverage Technology
Many buyers after a busy holiday season will be stretched for time. Most buyers and their real estate representative will likely have their first introduction to your property via the internet. While house hunting in the winter months, buyers and real estate agents will not want to make the drive or trip to view a property in bad weather if they don’t have to. To help save their time and the headache of traveling during bad weather, they will start shortlisting properties based on the information provided to them online.
Leveraging technology to the max will help present your property on the right foot forward and get more foot traffic through your front door. This can be achieved with full-detail listings, professional high-quality videos and photos, a virtual walk-through or, virtual open houses. By taking full advantage of technology and online marketing, you will increase demand for your home and get more people to see it in person.
5 - Make Sure Your Furnace Is Working
Put yourself in the shoes of a buyer and they walked into a freezing home. Right from the start, your home is already not giving the best impression it possibly can. It makes your home feel less inviting and it may appear that the furnace isn’t working – even if it is fully functional.
Instead, you should keep your home in the winter warm to create a welcoming atmosphere. Buyers want to picture themselves living in your home. Walking into a cold, dark home makes it feel uninviting and makes it difficult for them to see themselves living there.
6 - Put Away The Holiday Decorations
New year, new home. The holidays have passed and it is time to embrace the new year. Canada has become such a diverse nation, especially in the Greater Toronto Area, people come from many walks of life. The biggest tip to staging a home is depersonalizing it to allow the potential buyer to see themselves living there. Not everyone celebrates the holidays in December and by depersonalizing your space after the holidays by putting away decorations, you will make your home more appealing.
How Selling Your Home In January Is Beneficial
Now you may not believe it but selling your house in January does come with its benefits. Although there are more than three benefits to selling your house in January, these are the top three reasons why January can be a great time to take advantage of selling your home.
You Are Beating The Competitive Spring Housing Market
Other sellers who have the luxury of timing the market tend to wait till spring when they know other buyers are out looking during the warmer months. Yes, there are fewer people looking to buy a home in January but there is also less competition with people trying to sell their homes.
Motivated Potential Buyers Are Looking In January
There are always motivated buyers out there year-round.
We have to remember housing is essential and not everyone has the luxury of timing the market for when they should buy or sell. Sometimes, life happens and they need to make the move. These are motivated buyers who aren’t tied to a seasonal market but are rather motivated by life’s circumstances.
Selling In Winter Months Allows You To Close In Spring Months
The great thing about selling in January or even in February is if you have a long closing period, you’ll be closing during the spring when the weather starts to get warmer and the snow and bad weather is finally behind us. This will allow you to settle into your new house during the early spring months and fully enjoy summer at your new dream home! This is even better if your new house has a pool.
Final Thoughts On Selling Your Home In January
A successful sale is not defined by the number of multiple offers you received or if you managed to drum up a bidding war, a successful sale is making sure you sell your home for the price you wanted to sell it at when you first undertook this endeavor.
Remember, you can only sell your house to one interested party and all it takes is one offer from a motivated buyer to achieve a successful sale. By following these tips above, I am confident you’ll be able to find the right motivated buyer to purchase your home if you decide to sell in January.
If you want to learn more or discuss the possibility of selling your home in January, contact Marco Pedri, Broker with Shoreline Realty Corp., Brokerage to discuss your real estate needs.
