For the majority of agents (especially the ones in Northeast Ohio), we are officially in the “slow” season. While some agents may actually have great volume during these winter months, the fact is that on average, home transactions are down between November and January.
According to the National Association of REALTORS®, the average number of transactions during the “hot” months across the country is 2.1 million over that 4-month period. Not surprisingly, that equates to nearly 40% of the total annual sales volume.
Conversely in the winter months, the average number of transactions is around 1.5 million over that 4-month period – not a number to scoff at, but still roughly 40% fewer transactions.
So what are we getting at?
The agents that tend to have the most success in the hot months and the cold months share a common trait – they see this slow time as a long-term advantage.
Essentially, they view any time where appointments are light as a time to reflect on their business systems – strengths, weaknesses, marketing tactics, web presence, lead funnel. They look for areas where improvements can be made that will benefit their business for the long haul.
For example, how are consumers currently finding you and your listings online? According to an NAR study, 99%(!) of the Millennial generation searches on online websites for homes. Basically, if you have no web presence, you’re invisible.
Then maybe think about how you are staying top of mind to consumers throughout the year. Are you currently sending emails or postcards? Does the frequency need to be increased? Or should you move resources to social media and target potential buyers with ads and posts?
A great way to identify potential opportunities is to study what other successful agents in the area or across the country are doing and see where those tactics fit into your strategy.
You may be thinking, “I don’t know how to build a site or run ads or anything like that.” That’s fine, but it doesn’t make them any less necessary. There are a variety of resources across the web with how-to’s that can help. Or, you can always look for a company that provides those services for you.
At our office, we can help walk you through many of these things and more. There are a variety of areas we help you that can benefit your business in the long run – here are just a few. If you want to look at a winter consultation with Matt Heikkinen, our Business Development Manager, he can help you in the process of auditing your current strategies and provide insight into what can help you grow. You can email him at firstname.lastname@example.org or (330) 881-7451.
Happy New Year to you and your families!
National Association of REALTORS® Research Department, 2017, https://www.nar. realtor/sites/default/files/reports/2017/2017-real-estate-in-a-digital-age-03-10-2017. pdf.
“Seasonality in the Housing Market.” Www.nar.realtor, 2 Jan. 2019, https://www.nar. realtor/blogs/economists-outlook/seasonality-in-the-housing-market.