This time of year may be more suited to gift-giving and attending parties than shopping for a new home, but that doesn’t mean Connecticut Realtors aren’t keeping busy.
“We actually do quite a bit this time of year,” said Maureen Campbell, vice president of corporate and relocations services for North Haven-based H. Pearce Co.
Earlier this week, Campbell was in the middle of management training meetings – one way the company prepares for the New Year. Company executives also concentrate on business planning, work with agents on accountability agreements and discuss past production and new goals with agents.
“There’s a lot of strategic planning that goes on,” Campbell said.
But agents are still busy scouring for listings and helping buyers and sellers during the holiday season.
At RE/MAX Advantage in Avon, agents try to build inventory during late November and December, said owner/broker Sandy Gervais. Research has shown the company that the homes sold by agents during the beginning of the year pull in impressive prices, so assembling a large inventory of for-sale homes is a key goal heading into the New Year, Gervais said.
“If you have Â… inventory going into the New Year, you’re golden,” she said.
Although many sellers don’t like to show their homes during the holiday season, agents at RE/MAX Advantage also encourage them to make any small improvements, whether it be sanding a floor or painting a room, because tradesmen also tend to have less work and are more readily available between Thanksgiving and New Year’s.
At H. Pearce, agents also remain busy. The sellers who have placed their homes on the market during the holiday season are serious about selling. So, it is a good time of year for both buyers and sellers, Campbell said. There is not as much competition for sellers, so more people may look more closely at their house, and because the sellers often want to sell quickly, it is a good time for buyers.
Ramping Up
But even so, it is a traditionally slow period in the home market. Agents and real estate executives, however, still find productive ways to spend their downtime. This year in particular, with the expectation of a more stable housing market on the horizon, it is important for Realtors to decide how to sharpen the sales techniques they have been using in the more robust market of the past few years, Campbell said.
“They’re still busy, but they’re really preparing for how they’re going to ramp up when January comes around,” she said.
H. Pearce Co. is also developing new materials to help agents with the changing market.
“It’s a great time of year for us to do that,” Campbell.
RE/MAX Advantage does similar planning. The company works on its business plan and sets objectives for the coming year. Executives also work on marketing plans, help agents set expectations and track costs and help them track advertising dollars to see where they are best spent.
The slight lull also gives Realtors time to take clients out to lunch, and allows time for more personal pursuits.
“A lot of us catch up on family time and with friends,” Gervais said.