Decoding the Boxing Day Bonanza: A Strategic Move or Best to Delay
As we approach the end of the year, many estate agents are proposing a unique strategy—the "Boxing Day Bonanza"—to homeowners, encouraging them to list their properties during this festive season. However, going against the prevailing advice, I'd like to explore whether this is truly the optimal choice for potential sellers.
Let's weigh the pros and cons to empower you to make the best decision for you ⬇️
Pros:
- Online Engagement Surge: According to Rightmove, Boxing Day sees a remarkable influx of website visitors. The period from Boxing Day to the beginning of the new year witnessed unprecedented activity among home movers.
- Post-Holiday Focus: Some individuals prefer to "get Christmas out of the way" and shift their attention to housing searches in the new year. Conversations about potential relocations during social gatherings might drive early interest.
- Increased Motivation: Family gatherings, get-togethers, and the festive spirit can heighten people's motivation to move, particularly if they realize the need for more space or a desire to be closer to family.
Cons:
- Visitor-to-Buyer Conversion: Despite the surge in website visitors on platforms like Rightmove and Zoopla, the conversion of these visits into serious buyers remains uncertain.
- Limited Sales Agreements: It's rare to see sales agreements between Boxing Day and the New Year, possibly due to the closure or reduced staff availability of traditional high street agents during this period.
- Overused Tactic: The Boxing Day Bonanza is sometimes employed as a pushy sales technique by certain estate agents. This can result in a flood of new listings, potentially leading to increased competition and lower selling prices.
- Inconvenience for Sellers: With an influx of new listings, sellers may find themselves contending with increased competition, potentially resulting in a lower achieved price
- Buyers' Preliminary Stage: Those just starting their property search often need time to arrange mortgages and identify their priorities. Initial viewings during this period may be less productive for sellers.
Summary:
Considering the drawbacks, it seems prudent to refrain from the Boxing Day rush if you have the flexibility to do so. January tends to attract more serious buyers with reduced competition from listings added impulsively during the festive season.
Caution is advised when presented with this strategy by agents offering enticingly low fees, inflated asking prices, and lengthy contracts. They may be driven by end-of-year targets and could employ persuasive tactics to secure your commitment until spring.
As an alternative to waiting, our soft marketing approach could be a viable option. Leveraging social media and our AI database allows us to target a specific demographic ready to move, offering a more tailored and strategic approach compared to relying solely on traditional platforms like Rightmove.
If you'd like to have a chat about your options, get in touch here. Or if you would to book a valuation for your property, you can that here.