These days, basically everything has either come to a full stop or has slowed down due to the global pandemic. The real estate industry is no exception. With people wanting to keep available funds close to their chests as they stay at home and wait for a break in this new century’s crisis, real estate agents are now finding ways to adjust to this new reality.
Shorter, faster transactions this spring
One Ohio broker took note of the changes in behavior during real estate transactions in the past few weeks since news of the COVID-19 outbreak broke out. The onset of the spring season usually encourages the vigorous purchase of homes, not just in their area but in almost all US states. However, real estate markets this spring have been more relaxed. While many people are still getting their homes listed online to sell, negotiations are now shorter as they are no longer waiting too long for multiple offers.
Even among luxury real estate owners, the once-maligned auctions are now among the preferred modes for selling their estates due to the convenience of faster transactions with acceptable profits.
Cyberspace to the rescue
The city of La Quinta is implementing several safety measures for its residents in the light of the global pandemic while at the same time, allowing the gears of the local economy to continue turning. But with rapid developments concerning this novel coronavirus, attending open houses to scout for a home to purchase is not a viable option.
In a bid to keep the business running efficiently, many real estate agents are maximizing the use of the Internet in marketing a home. Virtual tours done in real time allow potential buyers to peruse a home of their liking from the confines of their own abode. This excellent mode of digital marketing verifies what has been seen in static online listing photos and gives a three-dimensional feel – as if buyers are literally walking through a home they would be seeing for themselves had there been no coronavirus to worry about.
But just like frontliners in this raging battle vs. COVID-19, real estate agents are still going out of their way to help their clients despite the risks of exposing themselves to the virus. These virtual tours wouldn’t be possible without them having to personally go to a home that a client is selling to conduct said tours. It is an added bonus if the homeowners put in place certain safety protocols like an alcohol spray on a table by the front door but most of the time, it is the visiting real estate agent who takes on the precautionary measures.
For the last few stages of the real estate transaction when a home has to be viewed in person, the agent’s mantle of protection extends to both buyer and seller. The unspoken rule is to keep as little physical contact as possible with fellow humans and with items within a home. One agent notes that they would have sanitizing wipes at the ready for every time that a buyer touches something in a house they’re viewing. Others would give away gloves and face masks. Most will recommend taking shoes off before entering a home.
Let me know your thoughts or talk to me to discuss splendid La Quinta homes for sale by calling 760.567.7822 or leaving me a note here. I’m Kathleen O’Keefe Galigher, telling you to keep safe in this era of COVID-19 as we continue to move forward and see to it that you have a successful real estate transaction – pandemic or not.