In the world of real estate, every season is different. Summer is known as the season when the housing market comes to a heady “full boom”—which makes spring the optimal time to sow your seeds of success for the coming months.
There are myriad ways for a real estate agent to channel the spirit of renewal and capitalize on the increased demand that comes with spring. Here, we’ll touch on 7 ways your real estate business can capitalize on spring’s real estate buyer trends and successfully seize the spring real estate market.
7 ways to make the most of spring real estate
Generally in real estate, the ramp-up to summer begins in April, with home sellers reaping the highest premiums and interest rates in May, June, and August.
That said, every local market is different. By combining your neighborhood know-how with our 7 spring-ready real estate tips, you’ll be able to better prepare for the spring and summer surge.
#1 Know what “spring” means for your area
The beginning of “spring” real estate for real estate professionals differs from region to region, city to city, and property to property.
To prepare for the spring market, it’s crucial for real estate agents to understand three key factors that govern when the spring competitive market starts in their local real estate market:
- Regional trends - If you live in a four-season climate, you can bet that most people are less inclined to start their home search or move in the winter than they are in more temperate months. However, while New England typically sees home sales launch in March, West Coast cities like Portland, OR start to rev up in January. Get to know the unique patterns and the current market conditions in your region so that you can prepare for “real estate spring” even if the daffodils aren’t in bloom yet.
- The "snowbird effect" - Warm-weather hubs like Boca Raton, FL, and Austin, TX perk up in the earliest months of the year with people looking for a luxury home. Why? Because residents from four-seasons regions flock to warmer climates in search of prospective properties for a second dwelling. If you’re operating in a milder climate, this “snowbird effect” may mean your “spring” comes in the fall or winter.
- Type of real estate - Residential and commercial real estate are as distant as the Northern and Southern hemispheres when it comes to the seasonality of sale. While home sales peak in the spring and summer, commercial properties tend to gain momentum in the fall and winter, before businesses cement their budgets for the next term. To that end, be sure to map your sales flow according to the market you’re focused on.
While we all observe March’s spring equinox as the collective seasonal turn each year, in practice, the season’s start varies from place to place. When it comes to pinpointing the arrival of spring in the real estate market, refer to research in your real estate business plan and focus on local patterns rather than national statistics.
#2 Embrace the competition
Like countless other sectors in the American economy, the coronavirus pandemic threw a wrench in the seasonal rhythms of the real estate market.
In the years since 2020, many buyers were more inclined to weather the spikes of COVID-19 cases than follow the seasonal weather patterns that traditionally govern real estate trends. Danielle Bade, a broker in Portland, OR, says of today’s rapid-fire turnaround, “Homes sell as soon as they come on the market. People aren’t waiting for a traditional season to enter the market.”
But a more erratic market may be a blessing in disguise. With home inventory reaching record lows in 2021, the market is more competitive than it’s been in decades—which means buyers are more poised to pounce on homes when the opportunity presents itself.
RisMEDIA reports that even the language of real estate is changing, with buyers being more inclined to say “I won the bid” than “I bought a home.”
If there’s any season to get in the game, it’s spring. But remember, Bade, says that the highest bidder isn’t always the winning buyer: “We are hearing from sellers that it’s not always about the highest price—offers with contingencies are less desirable.” For brokers, this means it’s in your interest to skip the spring chickens and instead seek out high-quality buyers to make a real estate match.
#3 Make marketing family-friendly
On the whole, there are three main factors responsible for the selling surge brokers see in the summertime:
- The hubbub of the holidays
- The aversion to buying in the winter
- The freedom families have in the summertime
Families with kids in tow are far less likely to close up shop and move house while school is in session. However, families looking to move are likely to begin their search well before school gets out. This means that the earliest months of the year are the best time for acquisitions and repairs, particularly on larger projects like family homes.
As you gear up for spring, make an effort to market your services to families in your area. With nearly 1 in 3 households using Nextdoor to find local businesses, curating your online Business Page is one of the best ways to connect with families on the hunt for new digs.
#4 Roll up your spring cleaning sleeves
Every broker knows that appearance is everything when it comes to selling homes, but clean takes on a whole new meaning when spring arrives.
On the whole, modern buyers are steering clear of homes that require too much elbow grease to renovate or maintain. The market is calling for low-impact homes that won’t require too much time, energy, funds, or compromise after a bid has been accepted.
This makes late winter and early spring the best time to add value to your properties by:
- Making necessary home repairs before a showing
- Hiring professional cleaners, painters, or repair staff for touch-ups
- Upgrading amenities, lighting, home fixtures, etc.
- Encouraging home sellers to declutter their properties in preparation for peak season
- Preparing home staging for in-person and virtual showings
Remember, the economy is the name of the game in today’s home real estate market, which means taking care of tune-ups ahead of time will add both value and appeal. If you’re able to invest in these repairs, you may consider offering a home warranty. The better condition a property is in, the more likely buyers will be to eschew a home inspection once they buy.
#5 Play up the season
It’s no big mystery why buyers will find properties more appealing in the springtime.
No matter where your properties are located, brownstones bookended by magnolias or family homes flanked by lush, green oaks are far more appealing in the eyes and hearts of buyers than a lifeless winter landscape. Even a modest plot of pansies outside an average Brooklyn walk-up can give brokers a leg up by adding homey appeal.
Take advantage of the natural beauty that attends spring by:
- Hiring a photographer to take seasonal exterior shots of the property
- Incorporating visual elements, like fresh-cut flowers, into interior shots
- Using open houses and viewings to lean into sensory cues like floral arrangements or warm air through open windows
At first blush, homey details may seem cosmetic or inconsequential—but 47% of agents report that a handsomely-curated home has a positive effect on buyers’ view of a property. Emphasizing the beauty of the season adds real and perceived value to your listings, transforming buyers’ perceptions of their future homes.
#6 Get to know your unique community
There’s no substitute for getting to know your neighborhood when it comes to honing your real estate radar. Not only does getting acquainted with local trends enable you to time your sales and marketing strategically—it also makes you a trustworthy local resource your clients can rely on during their search.
There are several ways you can deepen your roots in the neighborhoods that matter most to your business:
- Attend city or town council meetings – From zoning concerns to school board grievances, there’s a lot of information to be gleaned from dropping in on a local council meeting. By keeping an ear to the ground on local issues, you can help keep clients informed on what to expect from certain neighborhoods.
- Network with homeowners associations – Building relationships with local homeowners associations is another excellent way to learn about the atmosphere in specific communities. You’d be surprised how much information you can learn by dropping into a meeting or even emailing some local members to find out more about neighborhood assets (and asks).
- Build an online profile - Creating an online presence is one of the best ways to foster transparency and connection within your community. With a Nextdoor Business Page, for instance, you can easily reach buyers and sellers to showcase your expertise and build your local reputation.. Plus, you can market your services to neighbors who are already on the hunt for a new home.
#7 Add value to your community
Once you’ve become better acquainted with your neighborhood, consider investing in enhancement initiatives that drive up value in your area.
Take a cue from Beth Rodgers of the Akron Cleveland Association of REALTORS (ACAR). When ACAR noticed a shift in the neighborhood’s buying demographic, Beth Rodgers observed that “[one] particular area of West Akron [was] experiencing a resurgence of young families buying in the neighborhood where they grew up.”
In response, ACAR partnered with volunteers and other local Akron businesses to build gardens and beautify their local neighborhoods. The project added value to the local homes, and residents were also able to participate.
Make the most of the spring market with Nextdoor
Seasonality can make a big difference to the real estate business, but the tools to build relationships with high-quality clients should be a renewable resource.
Connect with folks and families seeking a fresh start with Nextdoor. With a Nextdoor Business Page, you’ll reach the house and apartment hunters year-round.
Whenever spring comes to your area, optimize your online presence to make your business evergreen with Nextdoor.
Sources:
Forbes. The Best Month and Day To Sell a Home. https://www.forbes.com/sites/reneemorad/2018/04/30/the-best-month-and-day-to-sell-a-home/?sh=4b76aff2fa38
RisMEDIA. BHGRE Brokers Identify Potential Trends In Spring Selling Season. https://www.rismedia.com/2022/03/25/better-homes-gardens-real-estate-brokers-identify-potential-trends-spring-selling-season/
Storage Cafe. Boca Raton, Florida, Takes The Crown As Best 2021 Snowbird Destination. https://www.storagecafe.com/blog/boca-raton-florida-takes-the-crown-as-best-2021-snowbird-destination/
Forbes. Seasons And Real Estate: 13 Things To Consider When Buying Or Selling. https://www.forbes.com/sites/forbesrealestatecouncil/2019/03/13/seasons-and-real-estate-13-things-to-consider-when-buying-or-selling/?sh=3d73ac8574a4
Investopedia. Seasons Impact Real Estate More Than You Think. https://www.investopedia.com/articles/investing/010717/seasons-impact-real-estate-more-you-think.asp
National Association of REALTORS Research Group. 2021 Profile of Home Staging. https://cdn.nar.realtor/sites/default/files/documents/2021-profile-of-home-staging-report-04-06-2021.pdf
CNN Business. ‘It’s crazy. There is no inventory.’ Housing industry veteran marvels at real estate boom. https://edition.cnn.com/2021/03/26/business/housing-market-shortage/index.html
