Being a REALTOR® in Phoenix from May to October is not for the faint of heart. In June alone, the Valley experienced 24 days of temperatures above 100 degrees. On top of the searing heat, Phoenix buyers’ and sellers’ agents must also contend with the typical market cool down during the summer months, when folks are more reluctant to attend showings and open houses or are vacationing.
Despite the challenges of triple digits and a slower market, there are several ways agents can take advantage of summer’s hottest months. It can be a lucrative time for REALTORS to showcase their ingenuity in servicing clients, sharpen their marketing skills and enhance their industry knowledge.
Understand summer market dynamics
While summer is typically a sluggish season for home buying and selling in Phoenix, this year houses are selling more quickly and at higher price points. As of June, the median sales price had risen 5.7% compared to the first six months of 2023, at $479,900 — in contrast to $454,000 a year ago.
The percentage of asking price buyers receive is steady at more than 98% and remaining so for a year. That said, it’s still a challenging marketplace, balancing decreases in pending and closed sales with strong growth in new listings to the tune of a 3.6-month inventory of more than 16,400 homes.
Arizona summers aren’t going to get cooler. As such, REALTORS are faced with a challenging combination of market nuances and typical low summer activity. To navigate these challenges, agents can call upon their resources and talent to encourage buyer and seller engagement.
Tips for Realtors in the summer selling season
Technology and digital platforms are some of the greatest tools in REALTORS’ resource kits. To entice buyers and sellers to engage during the more languid seasonal market period, agents can:
- Leverage the use of 3D home tours, paperless transactions and social media marketing strategies.
- Build strong client relationships by attending and hosting networking opportunities and local events.
- Continue correspondence and engagement with clients and potential leads through direct mail, email and social media messaging and commenting.
- Provide amenities during showings such as cold water and beverages; cool rolled towels; cold snacks such as ice cream bars and popsicles, and even sunscreen and umbrellas for any outdoor time.
- Emphasize outdoor areas appealing to Phoenicians such as pools, water features, BBQs and fire pits during summer showings.
For any kind of messaging, agents should consider including summer-focused ideas for both buyers and sellers, such as:
- Tips for staging a home during the summer.
- Optimal temperatures for air-conditioning during showings and open houses.
- Landscape techniques to keep outdoor spaces inviting and prevent foliage from withering away.
- Incentives for referrals (a restaurant gift card or local experience).
Strategies to maximize business in a hot (temp) market
During the more dormant times of showings and open houses, REALTORS can capitalize on continuing education opportunities. From topics specializing in digital marketing trends, negotiation techniques and disclosures to the latest real estate law updates and contracts, there is no shortage of learning possibilities from which to take advantage.
Downtime also presents options to acquire certifications such as Certified Residential Specialist (CRS) or Accredited Buyer’s Representative (ABR) designation.
Explore specialization
More time inside due to extreme heat means more opportunity to become more knowledgeable and resourceful about different markets. In doing so, agents can enhance their visibility and credibility in a competitive environment. Phoenix is rich in historic districts, luxury homes, golf course communities, equestrian properties and other specialty areas of real estate. Why not learn about a niche of interest that can also be added to your portfolio?
Takeaway: While it’s expected to be one of the hottest summers on record for the Valley, there are plenty of ways REALTORS can keep business moving forward and reap the benefits of those 110-plus days.
Andy Fegley is CEO of Phoenix REALTORS®, serving more than 11,000 real estate sales professionals in the Valley. Phoenix REALTORS offers free concierge-level member services, responsive support and resources, and the latest industry information. For more information, visit phoenixrealtors.com.