Is It Wise to Put my Home on the Market During COVID-19?
If you need to sell your home for personal reasons—because you are relocating for a job, in need of more/less space, or facing a financial circumstances, you shouldn't let the coronavirus stop you.
Residential real estate sales is approved as an "essential service" by the State of California.
How Homes are Shown Has Changed
Open houses and brokers tours are not allowed. Our board insists that all showings be via virtual tours and only in person showing if it is unfeasible to do so via virtual showings and only then if the homes is vacant/unoccupied, No more than 2 people, one realtor can be part of the showing. I require potential buyers to wash their hands or use hand sanitizer when they enter the home, and remove their shoes or wear booties over their shoes.
Sellers, however, may worry about having strangers in their homes. So, in places where face-to-face showings are still happening, real estate agents are taking some extra steps to protect homeowners and only allowing them in on a case-by-case basis.
But even during the COVID-19 crisis, real estate transactions are moving forward. In Danville 67 homes sold, San Ramon 78 homes sold since the official SIP March 19th. Average days on market is around 21.
How Is My Home Marketed
Your home is marketed utilizing the technology available to real estate agents, such as virtual tours, 3D tours, photos, virtual open houses. I use Zoom to converse with clients and it's almost as if you are sitting across the table from each other.
What About Inspections & Appraisals
Some lenders are letting appraisers do an exterior inspection of the home and using the photos, virtual tours provided by real estate agents to determine the homes value.
Inspections are considered essential. Yet buyers no longer accompany the inspector to the home and sellers are asked to leave the home, as easy as sitting in the back yard and maintaining a six foot distance from anyone in the home.
The closing can take place either remotely or at the title company. Remotely is accomplished by a mobile notary meeting the parties at a designated site keeping six feet apart and wearing masks. If at the title company, again with all precautions in place, wearing masks, gloves, sit in separate room, passing the docs back and forth, no sharing of pens, sanitizers for everyone.
Business as Usual
Not every buyer or seller will be comfortable right now to proceed with a real estate transaction, yet if you have to sell or buy a house in this market, it is not impossible. And even though COVID 19 has drastically changed the way to sell homes during this time, some of this technology may stick going forward.