No doubt it is quite different in buying or selling your house in Renton or nearby area now. These are 5 major changes to selling your house during Coronavirus Pandemic, and some market predictions from the industry expert.
1-No Open Houses
Open Houses are the most effective way to get your house sold quickly and for the highest offer, especially when it creates that competition and bidding war! I bought my house through an open-house too, not with my agent being with me! Because I can spend my own time, and felt myself in the space of my own home!
Banding Open Houses are like a restaurant without dinning in option… oh wait, that was the main reason why many restaurants are struggling so much during Coronavirus (COVIT-19) Pandemic, among other reasons! However, safety and your well being are the top priority. It is the right thing for social distancing to save lives.
With Social Distancing and Governor guideline, Real Estate business and transaction was changed to be essential with limitation, only 1 client and 1 Agent are allowed in the house at a time! It is inconvenient for both sellers and buyers. It meant, Sellers will have to arrange many many time for showing requests, each could be a long period of time too.
Buyers will have to wait for their turn, and how about the Buyer’s spouse and family? It is a big investment, and all of them want to see and make sure they love what they are committing to. How about the inspector, the appraiser for the bank, and any work that needs to be done, called out by the inspector?
However, this is much better than not being able to list or sell your house. It used to be no Photographer, no Stager, no Agent meeting to go over listing agreement,,,
3-Showing Done by Appointment Only
Showing Appointment sometimes could be a burden to the seller, especially if they are living in the house. Most people are working from 9-5 including buyers. The only available time is the after hour, which means the seller will have to make time and clear the property for every call, which can mean a 30 min notices or buyer will look at a different property.
It should be OK if you can work around that, and are able to grab dinner at a local restaurant or something like that… I guess that would support our local business as well!
**Make sure you disinfect the whole house again when you are back. Most agents would do so after they are done with the showing, but just to be on the safe side!
Another creative way is Virtual Tour, either yourself or your agent can do a Facetime with prospective buyer, or having a video tour available on the listing… this could mean you pay some extra cost to have that done…
If you are looking for an amazing Agent to list your house for less, but getting a Full Listing Service, we have the best of the BEST! Not only you will get special Photo, Video Virtual Tour, and decade of experience, but also you’ll get this Full Listing Service at a discount… here is the Bonus, he also offer in-house staging service that you won’t be paying upfront!
Disclaimer: We Offer this solely for relationships. Angel Home Solution is not an agent or broker, we do not list your house, not stage your house, not taking professional photography for your house… We only buy your house directly if you meet our criteria and you have a problem for us to SOLVE, either that is TIME, ISSUE with your house, CONDITION of your house, Financial related issue, or you just want the speed and convenience we offer!
It is essential to work with a buyer that is fully qualified and SOLID to close. Pre-approve or Pre-qualify might not be enough. Are they at risk of losing their jobs? Some buyers will put in an offer, and hoping they will be getting back to work on May 4th, which could be not the case.
Depending on the lender you buyer work with, getting a loan to approve is also taking more time, more works, extra employment verification, required an affidavit from their employer. So getting a cash offer to buy your house is the best scenario. However, it is probably not very common, unless the buyer is a company that buys houses for investment like Angel Home Solution.
How do you make sure you protect yourself when selling your house during coronavirus pandemic. If the Buyer can put in non-refundable earnest money or waive the inspection and waive financial contingency, you are secured, because the buyer will have more skin in the game. So they won’t just walk away from your agreement. We had 2 cancelations on a property we listed, because of buyers’ situation changes. The 2nd buyer wanted to extend the closing date so he can get the loan approved, but we did not go that route. It is not Pending the 3rd time, and we hope no surprise at this point!
So these are 5 major changes to selling your house during coronavirus pandemic. People are getting used to these, but how will the further look like? here are a couple of predictions if you are wondering if you can sell your house during Coronavirus or if you should sell your house during this crazy time at all!
Selling your house during Coronavirus (COVIT-19) Pandemic?–A Well Priced Home Will Sell!
The expert said there are fewer homes on the market right now when most sellers canceled or removed the listings. There are also fewer buyers, but both are probably motivated sellers and buyers. That means a well Price home will still sell. It might take a little longer than normal. It shouldn’t be a big deal if you expected that reality as a new norm.
Should I Sell My House During Coronavirus (Covit-19) Pandemic?
There will be a slowdown April and May, and everyone is curious about what the report for April and May will reveal! But the prediction is: if people are allowed to go back to work in May, May and June should ramp up. By August, we should see a hot market again. It might not be as hot as we were, but will be better than where we are.
However, the 4th quarter will be bigger than last year 4th quarter according to industry experts are predicting!
Prepare for the worst, and work hard to make it the best!Everett Real Estate agent Ann Brooks