Real estate will boom once coronavirus threat is gone -- Go ahead, put your house on the market
The stigma that has been historically associated with a home's "days on market," as it relates to home sales is soon to be a thing of the past.
The real estate market is definitely not operating in a traditional manner during the coronavirus pandemic but real estate professionals have been working behind the scenes to ensure that the industry remains a safe haven amidst an upside-down world.
There are still an incredibly large amount of unknowns out there but we are doing our best to operate after the shocking developments that came in March.
For people who have been considering selling, it might not be necessary to wait. One benefit of Americans being home all day is that they are online all day long. ALL DAY.
I'm online while I’m typing this. My screen time on my iPhone is up to embarrassingly high numbers. I'm literally averaging 14 hours a DAY on my phone.
Eventually, we will all find a way to a real estate site, or at least search homes on Instagram. It's inevitable, kind of like those cookies in your pantry are going to get eaten by the time you’re done reading this article.
Real estate professionals are working tirelessly behind the scenes to keep up their social media presence and to strengthen their strategies. Platforms like YouTube, Zoom, Facebook, Instagram and Twitter are making it easy for sellers to remain connected with prospective buyers.
We are in the fishing business and the most successful agents are the ones that are casting the widest nets.
What are the required protocols for any permitted in-person activity? (New March 28, 2020)
On Saturday, March 28th, in cooperation with Washington Realtors, Governor Inslee agreed to certain modifications to the Stay Home, Stay Healthy Order for the real estate industry. Due to the fact that the vast majority of real estate brokers are abiding by the order, several of the original restrictions on inperson activities have been revised – provided that strict protocols for social distancing are implemented.
The protocols that must be followed for permitted in-person activities include:
In-person activities must be by appointment only; No more than two people, including the broker, may be at the property at any one time; and Those two persons must strictly follow social distancing guidelines established by the Centers for Disease Control and Prevention (“CDC”) by remaining at least six feet apart at all times.
NWMLS’s Rules provide that a broker may not leave a third party unattended in a property. Accordingly, brokers must only bring one person at a time into the property.
What in-person real estate brokerage services are now permissible? (New March 28, 2020)
Provided the above protocols are followed for any permitted in-person activity, real estate brokers may: Conduct listing presentations, take photos, and create virtual tours for new listings; Facilitate signing of contract documents; Preview and show listings by appointment only; and Facilitate inspections, appraisals, buyer “walk-throughs,” and key delivery.
Real estate brokers may not: Conduct any business outside of their home (with the exception of the above noted activities); or Hold an open house.
Still the minute that people are legally allowed to physical tour homes like normal, the market is going to boom. It’s like when the new iPhone comes out. We want and expect lines out the door, just no tents, please.
We are entering what is usually the busiest season of real estate, that usually lasts through the end of the summer. I am confident that the busy season will last through the fall, and possibly through the winter.
Momentum is building, so there is no need to fear putting your home on the market.
Now is our chance to build and maintain confidence in the real estate market, because as soon as our world begins to shift back into normalcy, the market will be at its height.
We’ve all heard this a million times over, but right now, it’s more true than ever — home is where the heart is. You may not love where you currently are, but we know you love who you’re currently with. Get online, shop for your new forever place, and get excited about something that’s going to be there when this nightmare ends.
Posted by Cary W Porter on