Should I Sell My Home During The Coronavirus Outbreak?
Are you thinking about selling your home but are concerned about putting your house on the market during the coronavirus?
Don’t be—and here’s why…
How the Coronavirus Is Affecting the Real Estate Market
In the past few weeks 11% of Realtors are saying they have had a reduction in buyer traffic and 7% of them are saying they have had fewer homes listed recently, that all sounds really bad.
But it’s not and here’s why this could be great news for you…
Should I Sell My Home During the Coronavirus?
Yes! Believe it or not, you might find it easier to sell your home during a pandemic than you would otherwise. This is because many homeowners might put off listing their homes for sale out of fear. However, there are some great tips for how to sell a house during the coronavirus that might actually be more preferable than the way homes have traditionally been sold.
Keep reading to find out why.
The Benefits of Selling My Home During the Coronavirus
There are some surprising benefits that could come with selling a home during the coronavirus and maybe even some unexpected benefits that have yet to be determined. However, here are some of the benefits that could be a result of selling your home during the coronavirus.
- Serious Buyers Only
Anyone who is out looking for a home during the coronavirus is probably a serious buyer. Selling your home during a pandemic is likely to eliminate window- shoppers and curiosity seekers which, in turn, will mean less inconvenience, hassle, and false hopes for you.
- Interest Rates at a 50-Year Low
Interest rates are at a historic 50-year low making it less expensive to buy a home. This could drive more homebuyers into the market…coronavirus or not. Many buyers will recognize that if they wait to buy a home it could cost them thousands more when the interest rates go back up—and interest rates have nowhere to go but up, so they are smart to buy now, while the rates are low.
- Less Competition
Another great benefit of selling your home during the coronavirus is that you will probably have less competition. This is because most sellers will, if they can, wait until this pandemic has passed before putting their home on the market. So, with fewer homes on the market, that means less competition for you.
Tips for Selling Your Home During the Coronavirus
If you have decided to go ahead and put your home on the market now versus waiting, here are some great tips that will help you sell your home during the coronavirus.
- Virtual 3D Tours
When a seller decides to list their home for sale, it’s customary for them to have a wide variety of pictures included in their listing. However, very few sellers provide virtual 3D tours. But, due to the coronavirus, you should also opt for a virtual 3D tour to be included with your listing as well. This will help buyers get a better look at your home and make it easier for them to determine whether it suits them without having to tour your home in person.
- Video Walkthroughs
Video walkthroughs provide buyers a more accurate view of your home versus pictures that don’t tell the whole story. This is especially important in a time when we are all being encouraged to practice social distancing.
Video walkthroughs will help buyers more easily determine whether your home meets all their needs. This will reduce the number of potential buyers you will have tromping through your home. And, the buyers who do tour your home will probably spend less time there because they already have a pretty good idea of the look and flow of your home from the video walkthrough.
- Aerial Photographs
Aerial photographs are a great way to show potential buyers how the exterior of your home and the front and backyard of your home looks. This will help a potential buyer see how big your yard is and how it can be utilized, which is extremely important to buyers with kids, pets, and those who like to entertain.
- Don’t Schedule Any Open Houses
You probably already have this issue covered. However, this is a reminder that now is probably not the best time to schedule any open houses. You don’t want large groups of people in such close quarters at the same time. Additionally, you don’t want people breathing on and grabbing food from the same serving platters. It’s just not a good idea.
- Teleconferencing Negotiations
Teleconferencing will allow you, your real estate agent, and a buyer to negotiate and perform other necessary communications digitally. This could include negotiating the contract, signing the contract documents, and anything else that would normally be done in person.
- Utilize E-Signing Programs
Just like teleconferencing, e-signing programs can help you and your buyer sign contracts and other documents digitally. Therefore, no one has to have any unnecessary in-person contact to sell their home.