Selling Your Property, While Combatting Covid19
With the current situation, combatting Covid19 agents are still selling homes. Even with an uncertain market, home sales are steady statewide. In fact, the median price for Denver metro was up 8% by the end of March. People are scratching heads, wondering when things will return to normal. While others fear economic outcome. All items factor, when making a crucial decision for selling your home during unpredictable times. These are some important items to consider with your listing and how Colorado home sales continue amidst the crisis.
ENGLEWOOD, CO.—April 10, 2020—From a cold and snowy Colorado February to the COVID19 pandemic in March that has impacted virtually every person and every community, the state’s residential real estate market persevered with increases in sales, new listings, sold properties and median sales price, according to the latest monthly market data from the Colorado Association of REALTORS® (CAR).
Selling your property is a big decision. As a Realtor®, we understand the obligation to provide impeccable customer service in helping you make that judgement. Even for those looking to sell, the “Coronies” haven’t simplified marketing a home any easier where creativity is now in order. However, the first thing to consider for all is safety.
Being in a safe environment is necessary. However, selling your home usually requires some interaction with clients walking through. The governor and the Colorado Association of Realtors® has placed a halt on showings until they lift the quarantine. When the market re-opens, agents will take precaution ensuring clients are in safe environments. They may ask for a sterilization or show up early with some Lysol and handi-wipes. But everyone, home sellers and buyers, will need to be cautious. That includes any renters on the premises.
Renters and Showing a Property
If there are people renting the home, it is important to respect their space and safety. Rumor has it, an agent made the mistake of asking a tenant, sheltering in place, to leave for him to do a showing. Afterward, the renter reported the person to the board. Regardless of the story, renters have rights and if you are looking to sell while your occupants practice social distancing, you may need to wait. A lessee is a more unique situation, but it is up to everyone to work as a team once there’s clearance. In the meantime, there are things to do to ensure potential buyers see the property.
Get Potential Home Hunters Acquainted Beforehand
One of the safest ways to market a home; include online outlets acquainting home-shoppers with the property. Once they lift the quarantine, there should be a list of house hunters waiting to see the home in person. This is a good time to stay in touch with your selling realtor to ensure the efforts of their marketing has buyers waiting in line. Your listing agent will ensure the home is on every real estate website, placing that house under the spotlight. Agents have access to multiple resources such as Zillow, Trulia and Realtor.com which is a BIG reason selling a home on your own isn’t always helpful.
Video Vs. Still Shot Photography
Since many agents are resourceful, they will recommend using video or photos to list your home or land. While both are different, they have purpose. Comparatively video is a beast to still shot photography. Video differs where production uses more equipment and takes longer to shoot. Not to mention the editing portion is more time consuming than stills. If you’re looking to get the word out, your house is for sale, timing may be considerable.
Agents are Building Interest with Technology
Realtors® are using 3D virtual touring and Matterport interactive videos taking place of the 2-dimensional images. These tools are right, but not for everyone. Speak with the professional (Your Agent) who will help market to the buyers using the correct technology to build interest.
But whether you provide a ton of still shots or a video, potential clients are finding homes online. Also, with the lockdown, people need visuals. Not to mention this is a cautious way to view a property, even during healthy times.
Pics, Pics and More Pics
On the same note, potential buyers want to see as many pictures as possible. In fact, having snapshots enhances interest in a property. Most real estate professionals understand the concepts behind attracting more buyers and viewers during Covid. Your property needs to stand out and photos will accomplish this task. Professional photography of your home will entice people to go to the next step. Not to mention, the Coronavirus has influenced more ‘Sight unseen’ sales than ever before, making pictures an effective way to sell.
Dwellers Want Info and Pictures
Potential dwellers want to SEE and KNOW where they will ‘dwell’. They need images and descriptions, bringing their dream to reality. That being the case, today’s shopper wants as much info as they can consume. Good agents include a comprehensive marketing plan for all of their listings.
Despite interaction through Social Media, These Folks Need Homes
Staying in the safety-zone, realtors are finding more buyers online than before. To combat Covid19, you will find agents using more digital media advertising, avoiding issues with the virus but ultimately reaching their demographics. Things like social media reaches more of these prospective buyers. Agents continue to sell because these folks need homes.
Rent in Colorado Vs. Homeownership
Millennials are one of the biggest generations buying homes in 2020. People of all ages are exploring alternative methods to affordability, but many residents in Northern Colorado have become tired of renting. Besides, average rent is between $1300-1600 causing homeownership to be more affordable for some. People who no longer want to rent are reaching agents looking for opportunities. Sometimes, owning is more cost effective. Remember, we’re also facing a renter’s market where rent might rise, rather than lower, leading those seeking financing and good deals.
Deals in the Colorado Market
Even if you’re unsure, you can sell during these trying times. There are possibilities. To list a home with the market in knots does not mean everyone is putting off their goals. Many people are looking for deals. If you want to make it work, you might think to lower your asking price or raise it in some cases. Your realtor will advise you, helping negotiate a fair price where buyers will agree. Always remember, you have options.
Now you know how realtors are selling homes, even during the pandemic, you have got more “Food for thought” and insight. It is important to point out some decisions will need to be made along the way and no realtor should ever make you feel uncomfortable while approaching your ultimate plan. Ultimately, you determine what is right for you.
I will be here when you need to talk about those future goals.
Until next time, stay healthy, safe and embrace your loved ones.