commissions. That’s the unfortunate reality of real estate and other commission-based occupations.
SEASONAL FACTORS AFFECT SALES RS AFFECT SALES
Real estate prices can fluctuate because of seasonal changes, especially the school year or holiday seasons. Many home buyers and sellers would rather wait to move during the summer. June is especially busy, and July 31st is the busiest moving day of all. Waiting for summer is less disruptive for school-age children. They have more free time to pack and help move. They also get more time to acclimate to a new neighborhood and school district before school resumes in the fall. Seasonal patterns vary by region, but in general, weather can affect the supply and demand of housing. According to Investopedia, sellers often have to offer a seasonal discount of up to 10 percent to their home listing prices. People also prefer not to move during the holiday season, from November to January. Investopedia cites reasons such as family obligations, year-end deadlines, inclement weather, and the financial strain holidays place on family budgets. If you’re dedicated to understanding your local real estate market, you’ll track the important market metrics for your area every month. You’ll be able to identify shifts in listing prices and to calculate average sales prices. That will give you advance knowledge of trends that could affect your clients and your business. Your knowledge will allow you to approach home buyers and advise them on the best times to make lower-than-listed purchases.
HOW'S YOUR FINANCIAL PLAN?
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