Top Selling Tips to Focus on During Quarantine
Now that we are a few months into the COVID-19
pandemic, it is becoming clear to many homeowners and real estate
professionals, that traditional methods of selling homes are no longer
practical. Shelter in place restrictions, fears of germs, and restrictions on
large groups mean the days of open houses are long gone.
That does not mean the real estate market is
going to stagnate. Many industry experts feel that today’s housing market is in
much better shape than the one in 2008 because banks have since tightened their
lending standards. Additionally, since many homeowners are postponing home
sales, there is less inventory on the market, which helps to keep prices from
significantly dropping.
If you have been thinking of selling a home,
now is a great time to list. Below is an overview of how the coronavirus pandemic is changing home sales.
To save time and reduce potential exposure to
coronavirus, many real estate agents are now having virtual meetings with
sellers. In these meetings they go over logistics such as what the housing
market looks like in their neighborhood, pricing strategies, and tips on how to
enhance the look and feel of the property.
Additionally, real estate agents are
increasingly using virtual tours and walkthroughs in place of having in-person
gatherings. It is not difficult to host virtual showings. The agent only needs
Zoom, Google Meet, Facebook Live, or other web conferencing solutions to
broadcast their video to interested prospective buyers.
Once a buyer reaches the closing stage, agents
are now using E-signature and remote online notarization (RON) solutions to
finalize paperwork. Although RON was previously prohibited, many municipalities
are allowing its use due to the pandemic.
While it is true that most of the home
buying/selling process can be done virtually. Most, if not all your prospective
buyers will want to have an in-person showing before signing off on a sale.
Fortunately these selling tips for in-person showings during the coronavirus
pandemic are easy to implement.
When you are scheduling showings, you should
only have one client party at a time, without any overlapping visits. When the
parties are on your property, it is important to ensure that every individual
stays at least six feet apart, and if possible, that disposable gloves or wipes
are provided for use when opening doors.
To minimize the need for buyers to touch
surfaces, before each showing, you should turn on all the lights and open all
closets and cabinets. Agents should also advise visitors on best practices to
avoid coronavirus, such as not using the restroom and refraining from touching
surfaces unless necessary.
Walkthroughs should be bound by time limits and buyers should be asked not to linger.
Conducting home inspections
In addition to addressing the needs of
prospective buyers, when you sell your home, a home inspection is a must. Due
to the coronavirus pandemic, many lenders are allowing buyers to use
alternative appraisals.
Alternative appraisals consist of a licensed
evaluator reviewing tax and property records, along with exterior inspections,
drive-bys, inspection reports from other professionals, and video walkthroughs
hosted by the seller to assess the home’s quality and condition.
By using alternative appraisals, your buyer
can complete their purchase without you having to worry about preparing for an
in-person visit.
By Tom Bookhardt, July 16, 2020