Is it a Good Idea to Buy or Sell a Home During the COVID-19 Pandemic?

Are you wondering if it is a good idea to buy or sell a home during the COVID-19 Pandemic? If you are like me, life in and around the Spotsylvania area has been turned upside down. So many us are looking forward to resuming some state of normalcy, and to getting our economy back up and running yet, we are also grappling with how to stay safe, healthy, and sane as we wade our way through the COVID-19 Pandemic. Life has been tough, that is for certain!

As a local real estate agent, I talk with many homeowners, who, despite the pandemic, have not changed their plans to sell their home. Likewise, buyers who are looking in and around local hot spots like Fredericksburg, Locust Grove, Fawn Lake, Spotsylvania, Stafford, and more, still want to buy in those areas.

The question then becomes is it a good idea to buy or sell during the COVID-19 Pandemic? In all honesty, there is a lot of competing and conflicting information out there about real estate right now. Much of what is being said is more or less prediction rather than fact. I will tell you as a local agent, I am still opening and closing transactions just as successfully as before the COVID-19 Pandemic took the nation by hold. Why? Well, my real estate training and background prepared me well for this. I have a number of tools at my disposal that make opening and closing a transaction possible with almost no face-to-face interaction.

There is some good data supporting the idea that buyers and sellers may be more comfortable with digital and virtual tools than you might think. Consider this, nowadays, it is possible to buy a car online and have it delivered! So why not consider the same for housing, only with advanced features and tools to support the transaction.

According to Housing Wire, “When asked by Realtor.com about selling within the next six months, 56% of sellers said they were comfortable with letting their agent in their home to take photos. Over half of the respondents would allow their agent in the home to give a virtual tour; 47% would let an agent walk a buyer through the home in person; 44% would let the agent walk a buyer through the home via video chat and a whopping 53% would actually hold an open house.” This data shows strong support for a digitally based buying and selling process.

Moreover, my brokerage, Berkshire Hathaway HomeServices Select argues that real estate “will play a part in pulling the economy out of this recession [and] expects a recovery in late summer, with pent-up demand creating a spring market in the fall.” That is in large part due to the assumption that some buyers and sellers will be hesitant to move forward during the pandemic.

So now, to answer your question: Yes, I think it is very reasonable and possible to buy or sell a home during the COVID-19 Pandemic. How am I adapting to the changing needs of the real estate market? My latest transaction is a great example. I recently listed a property on a large piece of land and we were diligent in creating a virtual tour of the property because I understood that buyer demand for virtual tours is high right now. Our diligence paid off and we got two offers in a matter of weeks!

Going forward, I will continue to adapt to the market and implement the necessary tools to support my clients. Below are a few ways of the ways I am currently supporting my clients during the COVID-19 Pandemic.

Availability & Responsiveness

Those that know me know I am always available to my clients 24-7. Currently, technology is more critical than ever and keeps me connected with my clients. We can communicate online, via video chat, using social media, text messaging, email and much more.

Screening Fairly in New Ways

While I can open and close a transaction without almost no face-to-face interaction, there are times when it cannot be avoided, such as arranging individual tours or meetings when applicable. So, in following NAR guidelines, it is reasonable to ask questions about illness and recent travel prior to face-to-face meetings so long as I ask all clients the same screening questions based on current, factual information from public health authorities. Additionally, when I do show a property, I frequently clean and disinfect surfaces like door handles and to ask clients to use hand sanitizer. And sorry, as much as I would like to, I cannot share my daughters delicious homemade desserts right now either.

Photography & Virtual Tours

Depending on the client’s needs and budget, we are making great use of photography and virtual tours. These tools are critical in weening prospective buyers from the serious buyers, which is very effective in limiting the amount of social contact necessary for the transaction.

To learn more about Liz Dubrule Real Estate visit my About Me page. For more tips and information feel free to Contact Me and follow me on social media on Facebook @ldubrulehere4you.