Like many things in life, timing is everything. Nowhere is this more then when it comes to buying or selling real estate. Timing is everything. If you are selling and market conditions result in many buyers, you will probably do very well. On the other hand, if you are buying, you will probably overpay. There is another factor where timing comes into play and that is seasons. This column will examine buying and selling real estate in various seasons and dispel some of the myths that may be prevalent.

The general belief is that buyers of real estate will pay less for a home in the winter season. The reason? Most people do not buy a home in the winter and as a result, there is less demand for housing. The rules of supply and demand would then dictate that if there were less demand, prices would fall since sellers have few potential buyers to sell to. This is not always the case. Buyers will not always do well in the winter season. While it is probably true that there are fewer people who wish to move in the winter months, buyers are faced with less choice in the winter. Sellers, anticipating that buyers will not want to move in the winter, may delay listing their houses for sale until the spring or summer. Consequently, while buyers may be able to buy at a favourable price in the winter, they may have trouble finding a house they like given the short supply. As a result, they may not buy. Price is important, but it is not everything!

Another belief is that sellers will do better in the spring. Again, this may not be necessarily true. Sellers often have problems selling in the spring. The main reason? Too much competition. If every seller adopts this approach, and many do, the market may be flooded with an oversupply of houses once the snow starts melting. If there is too much competition, buyers will shop around for the best possible price. Too much supply and not enough demand will likely push prices down.

My guess is that many readers are surprised by how their assumptions about seasonal buying and selling patterns may thwart their plans. There is a way to gain a better understanding of how you can overcome these assumptions to improve your position whether you are buying or selling. By working with an experienced real estate agent, you will be able to understand many of the unforeseen complications when faced with buying or selling real estate.

An experienced real estate professional will understand the area in which you are either buying or selling. A realtor will have expertise in local market conditions and the various blips in your particular community. Your realtor’s role is to advise you of the market conditions so that your expectations are realistic. Your realtor may feel that the assumptions about seasonal buying may not apply to your particular situation. For instance, if you are selling in a high demand area, your realtor may feel that you should in fact list your house for sale in the dead of winter when there is very little competition.

Working closely with your real estate agent will assist you greatly in setting your expectations reasonably, thus avoiding disappointment.