Do you enjoy getting out of the house every day for a little exercise? Going for a walk is a great way to escape the stress of the world and gather a few peaceful moments for yourself. If so, you may have noticed a few for sale signs around your neighbourhood. Yes, people are still selling their homes, even though the housing markets have been in an unstable flux since March when the pandemic first hit. If you’re a homeowner who was planning to sell before COVID-19 hit, you can feel confident in continuing with your plans. Although by different means, properties are still selling. You just have to adapt your selling strategy to the current times. Here are a few tips to help you sell your home quickly during COVID-19.
SELLING REAL ESTATE HAS CHANGED DURING THE PANDEMIC
The days of viewing a home in person may be a thing of the past, as virtual showings are becoming the new norm. All or most meetings between agents and their clients are virtual as well. Instead of meeting in an office or home, video meeting apps like Zoom, Skype and Google Hangouts have become the preferred method of doing business. Inspections and appraisals are also being done with social distancing in mind. Homeowners are being asked to stay in one part of the home while an inspection or appraisal is completed. Also, inspectors, appraisers and homeowners are expected to wear the proper PPE. Homes are being thoroughly cleaned and disinfected before any visits. Remote closings are something that lenders, agents, buyers and sellers are getting used to, which reduces physical contact even more.
TIPS FOR SELLING A PROPERTY QUICKLY IN THESE STRANGE TIMES
Here are some tips to help you sell your home quickly during COVID-19:
DON’T RUSH INTO ACCEPTING LOWBALL OFFERS
Don’t fall into the trap of rushing to sell your home out of fear. Take a breath and don’t panic. The average price of a home has not dropped that significantly and taking your time can help you get the price you want (or close to it). Work with your agent to arrange a strong counteroffer if an offer comes in that seems low. Remember that you will need to make mortgage payments at you new home, and you deserve to get as much as possible for your home – pandemic or not.
YOU MAY EXPERIENCE LESS INTEREST, BUT EXPECT MORE SERIOUS BUYERS
As you may expect, fewer people are looking to buy a home right now, but the ones who are looking are putting down serious offers. The good news is that, although there are fewer buyers overall, the quality of buyers has increased. This equation may leave you panicking, but again, relax and wait for an offer from a well-prepared and serious buyer. It will come!
UTILIZE THE TOOLS AT YOUR DISPOSAL
As mentioned earlier, there are a ton of teleconferencing and communication tools that can be used to show-off your home and stay in daily contact with your agent. Apps like Zoom and FaceTime are free for most mobile and home devices, so you and your agent can keep up-todate and not miss a thing.
IF YOU’RE READY TO MOVE, TAKE THE PLUNGE
Understandingly, a lot of sellers may be holding off because they feel scared to list their home right now. This can actually work in your favour. Fewer homes on the market means more attention is being put on the ones that are for sale. So, if you’re certain you want to sell your home, don’t hold off waiting for a better time (because there are no guarantees as to when that will be).