Real estate agents need to be active during Ghost Month or risk falling behind the competition. This year’s festivities span from August 8 to September 7 with Ghost Day in 2021 falling on August 22.
Many people in the region exercise caution in order to avoid unwanted attention from roaming spirits during this time. This usually sees major decisions, like buying a property or moving house, delayed until later in the year.
It should be noted, it’s not just Southeast Asia property markets that cool during this period. Most domestic real estate markets globally experience some type of slowdown in August and early September. In America, it’s back to school season. For many European countries, this is the time when people take an extended holiday.
Many property professionals in Singapore tend to write off August to focus on the end of the year. However, real estate agents need to be active during Ghost Month.
3 reasons real estate agents need to be active during Ghost Month
People are still looking
Some people may put off their buying decision until later in the year, but this doesn’t mean they are stopping their property search. Potential buyers use this time to research and get ready for once Ghost Month ends. They also prepare all the financial items that are going to be required for loan applications.
Being active during Ghost Month ensures you are there to help them out when it becomes time to buy.
Some people want to buy
There are a group of people out there who believe this is the perfect time to buy. With sales traditionally falling during Ghost Month, a few buyers will look to secure discounts from people eager to sell. Ultimately, real estate agents need to be active during Ghost Month to work with this group.
Overseas buyers remain active
Real estate agents need to be active during Ghost Month if they work with clients overseas. While domestic demand falls in many countries, cross border interest remains steady. In fact, this can be a good time to change up your marketing strategies and target potential customers outside your base.
That’s especially true if you have properties being discounted due to slower demand. Overseas buyers may not be worried about Ghost Month, and they almost always love a good bargain.