- You must study your market, sales and MLS to determine your sales projections.
- Create target marketing campaigns that complement the annual trends you see in your market.
- Spend the most time, energy and cash during your peak season, and get involved in what's going on around your community to raise your profile.
The first step in figuring out when it’s the best time to market your services is to determine when and why the spikes of peak selling times in your area occur.
Peak time marketing works when your sales increase at a certain time of year. Studying your market in your MLS can help you determine sales projections.
For instance, here in southern Utah our peak time is January through April.
We have the southern Utah Parade of Homes during the month of February. Most of the real estate agents here are making most of their annual income during those months.
Most of my marketing dollars are spent during this time because it is the peak season. I also actively participate through open houses and being visible in the community during those months.
June through October is our slow season. I do, however, see a lot of empty nesters place their homes on sale in May or June.
So, with that knowledge I would do an annual marketing campaign and maybe title it “Empty Nesters.” The tagline might be: Let’s get the big house sold so you can have a little freedom.
October to December is our retiree and second-home market. This includes people who are looking for that 55-plus or move-in ready community.
It’s important for you to know the cycles of your community and to adjust your marketing programs accordingly. Don’t opt for blanket marketing all year long or during peak season only. By taking advantage of each cycle, you will garner more attention.
Melinda Goodwin is Luxury Real Estate Advisor with Engel & Volkers St. George, Utah. Follow her on Twitter or Facebook.