There is a lot of uncertainty in the world right now. One thing that is for certain is that there is no place like home.
Your home is your safe haven. A place where you can be free and be yourself. The roof over your head protects you, and also provides a feeling of somewhat normalcy in times of chaos.
While real estate is a very social driven industry, we are adapting to a safe new normal in order to protect those we love and those we serve.
Contracts can be signed virtually. Closings can be held virtually. Virtual tours using the latest technologies can offer an incredibly accurate depiction of actually “showing” a home. See an incredible example on my listing here.
As you can see, I got Top Producer for Sales in my company last month. Buyers ARE still buying. Sellers ARE still selling.
We are all just doing things a little differently these days.
While everyone is navigating our “new normal”, there have been some pretty big leaps in virtual Real Estate. I saw it best described by a friend who said “if you can find your spouse online, you can find your house online”.
According to the National Association of Realtors, “81% of Older Millennials, 80% of Younger Millennials and 78% of Generation X found their home on a mobile device” in 2019.
Everyone has a little extra time on their hands right now. More likely than not, their mobile devices are probably in their hands as well.
What should Buyers be looking for?
If a Buyer cannot physically be there, they have to have enough information to feel as though they are.
Photos were found as the #1 most valuable asset to a Buyer. Having quality photos could make or break your chance at reaching that one perfect Buyer during this time of separation. What is going to hold their interest longer: dark lopsided iPhone pictures, or professional high resolution photos with options like a 3D Matterport Virtual Walk Through Tour?
Details about the property itself were found to be the #2 most valuable asset to a Buyer, and Floorplans for the Home were found to be #3.
You can also ask for informative documentation such as a Seller’s Property Disclosure or Survey.
How can we Social Distance events that require attendance?
- I have “virtually” moved dozens of families across the country over the years. FaceTiming/Skyping customers in another state to “show” them a home is not uncommon. Especially in our Military town. On more than one occasion, I’ve “shown” then sold homes to folks on the other side of the world without them ever stepping foot inside!
- Many Lenders have websites to take online applications.
- Contracts can be signed digitally, without paper ever having to pass hands.
- Inspectors are requesting that they are the only ones there for the inspections, wearing gloves and masks while they inspect, then FaceTiming for the final review.
- Appraisers are doing drive-bys. (One more reason why stellar photographs are ab.so.lute.ly critical at this time.)
- Some Title Companies are even performing drive-thru Closings. Just BYOP! (Bring your own pen.)
It’s going to be interesting to see where the market goes from here.
Serious folks, like my Buyer who just got his Dream Home under contract, are virtually out there right now trying to get things done before the rest of the market catches up.:
I wouldn’t be surprised if when all of this is said and done, we get inundated with even more homes for sale to make up for “lost time” during the busy season. Its going to be crazy.
For now, do all of your due diligence online. Stay safe and stay home.
*All contracts were done virtually and closings practiced social distancing*