Safety, Safety, Safety
Â is all I could think about when holding my clients home open for the first open house.
A great 4 bedroom and 3 bath that the owner had painstakingly done countertop updates, repairs and even a new water heater.Â Such hard work by a working business professional needs to be highlighted by an open house right? But with a tough and highly competitive market in which the current Miami market represents, what you get is multiple individuals, families and agents vying to lay eyes on your new listing.Â But more importantly in the days of Covid, multiple individuals walking through your home with or without mask.Â Luckily with this open, all viewers came prepared with Mask on or in hand and even some with gloves on hands. Great start!
But in the time of face mask, pocket hand sanitizer and air hugs, how can a homeowner be sure that selling their home in this season is right for themâ€¦. WELL it depends on the market and right now the South Florida is Hot while the Detroit market is Luke Warm. As an agent licensed to sell homes in multiple states, I have learned the various ways in which the varying levels of Covid â€œsensitivityâ€ can help or hurt the market.
Disclaimer:Â As one with a lifelong struggle with Asthma, early on in the Pandemic I was highly sensitive to the data, precautions and protecting myself, family and people I come in contact with and will continue to this endâ€¦
This â€œSensitivityâ€ is all based on what’s important, protecting your health and of course as a seller your investment. So with this idea in mind, here are 5 key ways selling your home during the age of Covid that can still make it a worthwhile endeavor.
Key #1 Are you Serious? They Are!
One simple and small note is, 7 times out of 10, customers usually won’t walk through your home during a pandemic unless they are seriously looking. We all need a place to live. Buyers out searching know they are going into a confined space where others live and are prepared. The most personal of personal spaces, if buyers are there, they are most likely serious.
Just as a seller selling during a pandemic, you are serious as well! With that one thing that is removed in this equation, is the competitiveness of a spring or summer market. With less homes available to show, the less competitive your home sell becomes.
Key #2 Proper Preparation, Expectations & Instructions
By providing proper listing instructions and signage, we can limit the amount of uncovered hands and nose/mouths that walk through your home. No different than asking buyers and agents to take their shoes off in a listing with fresh carpet, asking potential viewers of your home to wear a face mask (or providing mask, gloves and hand sanitizer if possible) is easy to do.
Key #3 Technology has evolved.. Use it.
Long gone are the days where depending on listing photos to tell the story of your home and sell the product. With today’s technology, rather it be Facetime, YouTube, Zoom or other video conferencing platforms, being able to accurately present your home with out your new buyer walking through it physically is more possible than ever. Donâ€™t believe it, I am proud to confess of a recent personal purchase of a home sight unseenâ€¦. Were we nervous?â€¦ of course.. but utilizing a friends Facetime live walkthrough and review as well as the Selling Agents professional use of 3d Imaging software made the experience just so much better. And yes we are happy with our purchase.
So while you may feel that Covid may stop the flow of qualified buyers through your homeâ€¦ Think again! Now more than ever with so many technical advances, virtual opens and video walkthroughs, we are able to replace many of the benefits of onsite participation of a walk through.
Key #4 Interest Rates are still at a historic low for selling your home.
With interest rates being at a historical low even from 10 years ago, these low-interest rates also give home buyers more buying power.
For example, if you look at the average renter with say a $1,000 rental payment, 10 years ago in April with the average interest rate of 5.1% (still a historically low rate) buyers could purchase roughly a $192,000 home after a 3.5% downpayment. But with the 2020 average April interest rate of 3.31% (1.79% difference) that same buyer can purchase up to a $240,000 home.
With the additional $48,000 in buying power many buyers have more options in home styles and locations. With this, providing viable home options as a seller is key.
Also, once you sell and begin looking to move up or move down after selling, you can now reap the same benefits of historically low-interest rates.
Key #5 We are all in this together!
No matter how long it takes getting back to our â€œnormalâ€ schedule of working in an office, going to the mall or going through open houses unbothered, one thing is trueâ€¦. we are in this together.
As always I am here to help you sell or buy your home with ease!
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