4 Ways To Safely Show And Sell Your Home
HOW HAS THE REAL ESTATE PROCESS CHANGED?
As the pandemic hit, real estate and mortgage professionals across the country revised their processes to adapt to shifting safety standards and economic realities. While these new ways of conducting business may seem strange at first, keep in mind, military clients, international buyers, and others have utilized many of these methods to buy and sell homes for years.
New Safety Procedures
The safety of our clients and our team members is our top priority. That’s why we’ve developed a process for buyers and sellers that utilizes technology to minimize personal contact.
For our listings, we’re holding online open houses, offering virtual viewings, and conducting walk-through video tours. We’re also using video chat to qualify interested buyers before we book in-person showings. This enables us to promote your property to a broad audience while limiting physical foot traffic to only serious buyers.
Likewise, our buyer clients can view properties online and take virtual video tours to minimize the number of homes they step inside. Ready to visit a property in person? We can decrease surface contact by asking the seller to turn on all the lights and open doors and cabinets before your scheduled showing.
The majority of our “paperwork” is also digital. In fact, many of the legal and financial documents involved in buying and selling a home went online years ago. You can safely view and eSign contracts from your smartphone or computer.
Longer Timelines and Higher Mortgage Standards
The real estate process is taking a little longer these days. Both buyers and sellers are more cautious when it comes to viewing and showing homes. And with fewer house hunters and less available inventory, it can take more time to match a buyer with the right property.
In a recent survey, 67% of Realtors also reported delays in the closing process. The top reasons were financing and buyer job loss, but appraisals and home inspections are also taking more time due to shifting safety protocol.12
Securing a mortgage may take longer, too. With forbearance requests rising, lenders are getting increasingly conservative when it comes to issuing new loans. Many are raising their standards—requiring higher credit scores and larger down payments. Prepare for greater scrutiny, and build in some extra time to shop around.13
Are you ready to sell your house, but not ready to let in crowds of people? We have several virtual viewing options we can use to promote your property while limiting the physical traffic inside your home.
🏠 ONLINE OPEN HOUSE
We’ll create buyer interest and drive digital traffic to your listing by hosting an Online Open House on Facebook and Instagram.
🏠 VIRTUAL LISTING TOUR
Interested buyers will be taken on a Virtual Listing Tour, where we’ll showcase your professional listing photos while highlighting your home’s best features.
🏠 WALK-THROUGH VIDEO TOUR
Serious buyers will be invited to an exclusive Walk-Through Video Tour, which will give them in-depth look at your property.
🏠 VIDEO CHAT
Finally, we’ll use a one-on-one Video Chat to qualify buyers and ensure they’re serious before we schedule an in-person viewing of your home.
WHEN YOU’RE READY TO MOVE—I’M READY TO HELP
While uncertain market conditions may give pause to some buyers and sellers, they can actually present an opportunity for those who are willing, able, and motivated to make a move.
If you’re looking to buy, you could be in a better position to negotiate a great price. And today’s record-low mortgage rates could give a big boost to your purchasing power. In fact, if you’ve been priced out of the market before, this may be the perfect time to look.
If you’re hoping to sell this year, you’ll have fewer listings to compete against in your neighborhood and price range. But you’ll want to act quickly. Economists expect a surge of eager buyers to enter the market later this year—so you should start prepping your home now.
Let’s schedule a free virtual consultation to discuss your individual needs and circumstances. I can help you assess your options and create a plan that makes you feel both comfortable and confident during these unprecedented times.
The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.
Sources:
- Forbes – https://www.forbes.com/sites/ellenparis/2020/05/08/latest-housing-market-update-from-realtorcom/#20bf7829113e
- HousingWire –
https://www.housingwire.com/articles/realtor-com-housing-market-will-bounce-back-this-year-but-the-rebound-will-be-short-lived/ - Curbed –
https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates - Realtor.com –
https://www.realtor.com/research/weekly-housing-trends-view-data-week-may-9-2020/ - Money.com –
https://money.com/coronavirus-real-estate-home-prices/ - Fannie Mae –
https://www.fanniemae.com/resources/file/research/emma/pdf/Housing_Forecast_051320.pdf - HousingWire –
https://www.housingwire.com/articles/pending-home-sales-tumble-on-covid-19-shock/ - HousingWire –
https://www.housingwire.com/articles/zillow-predicts-small-home-price-drop-through-rest-of-2020/ - Federal Reserve Bank of St. Louis –
https://fred.stlouisfed.org/series/CSUSHPINSA - Consumer Financial Protection Bureau –
https://www.consumerfinance.gov/coronavirus/cares-act-mortgage-forbearance-what-you-need-know/ - Bankrate –
https://www.bankrate.com/mortgages/federal-reserve-and-mortgage-rates - National Association of Realtors –
https://www.nar.realtor/sites/default/files/documents/2020-05-11-nar-flash-survey-economic-pulse-05-14-2020.pdf - Forbes –
https://www.forbes.com/sites/alyyale/2020/04/17/buying-a-home-during-the-pandemic-dont-expect-your-everyday-home-purchase/#fadad3d33b0c - Washington Post –
https://www.washingtonpost.com/health/2020/04/21/coronavirus-secondwave-cdcdirector/
