Possibly one of these things you don’t think about, until you have to think about it; selling your home during COVID 19. Is it safe to sell your home? Is there a market for my home? Can the buying/selling process be made safe? All great questions, let’s explore some of these topics.
How can I be safe when selling or buying a home during COVID 19? I think with this question we have to examine what we’ve learned about the virus since we first locked down our country back in Mid March. According to the CDC, we have learned that the primary way COVID is spread is from person-to-person through respiratory droplets which get inhaled into the lungs. We’ve learned that the virus spreads easily between people, and the more closely people interact with others, the longer the interaction, the higher the risk. And we’ve learned that the virus can possibly spread through touching surfaces with the virus and then touching their own mouth, nose or eyes could spread the disease, but this is not the primary way COVID is thought to spread.
OK, great, so what does that mean to a realtor and people thinking about selling their homes? These are my personal thoughts, but really as real estate professionals, we cater to the needs of our clients especially when we want to err on the side of caution and making them feel safe in the process! I always request every realtor and buyer wears a face covering for the duration of all appointments. I also believe it’s a good idea for the listing agent to open the entire house, doors etc. to limit touch points in the house. Some seller’s request all people entering wear gloves, but really I like to request people entering touch as few surfaces as possible. Most buyers and realtors are already mindful of these concepts. Also, we do things like limit the number of people at a showing. Depending on the size of the property or whether it is occupied or not, we can limit the number of people at a time at any single showing, say no more than 2 realtors and 2 buyers at a time.
Can we still do Open Houses? While the MLS has allowed scheduling dates for Open Houses, being that I live in a city with very high infection rates, I do not feel comfortable doing Open Houses or Broker’s Opens at this time. I would rather schedule a pre-screened private showing. What does that entail? As listing agents, we can request the buyer shows a level of seriousness prior to being able to view a property in person. That could include a letter from the potential lender and proof of funds (bank statements for a cash buy or a mortgage balance). While this may seem extreme, it’s an excellent idea to ensure you are minimizing showings to only capable and ready buyers.
Is there a market for my home? The short answer is yes. Right now in Florida we are finding a very low inventory for single family homes, less so for condos. The reasons for this seems varied. We continue to have buyers leaving places like New York seeking the sunshine and state tax-free destination of Florida. Also, I believe the pandemic illustrated to many, the importance of having a fantastic home — a place to be safe and retreat. We are seeing condo owners move to the privacy of a single family home. Also, with interest rates being at an all time low, there appear to be plenty of buyers available for the market. Turn-key options are the most appealing in the market. During this time, it is hard for buyers to look at properties that require large renovations in order to get settled. I believe this critical point, and pricing the property appropriately is what gets properties sold quickly in this market.
Consider investing a little in the home prior to listing for sale. As I stated previously, I believe it’s important to do all minor and aesthetic repairs prior to listing a property as you only get one chance to make a first impression! Given a budget, I am happy to suggest fixes for the property that would get your property sold quickly for the asking price you want. At the end of the day, selling your home is a business, and sometimes it’s hard to see past the memories you’ve created there. Call me today to schedule a market analysis on your property, and options for the complicated 2020 market. Conversations are always free.
