Thinking of putting your home on the market during the pandemic? You’re not alone. COVID-19 hasn’t slowed down the growth of the real estate industry. Housing continues to be an essential service. Many people are still looking for a place to stay or buy outright. Due to restrictions and safety concerns, however, individuals need to rethink the process of selling their homes.
Real Estate and Technology: The New Normal
As a result of social distancing protocols and travel restrictions, home buyers and sellers have turned to technology to explore listings. But COVID-19 is not the only reason for this shift. Check out these housing statistics from recent years:
- 73% of homeowners in 2016 said they were most likely to work with a real estate agent who uses video marketing
- 50% of buyers found their new home on the internet
- 84% of homebuyers say that the biggest factor for their purchase was the information they found online
- 40% of buyers preferred virtual property tours
Without a doubt, technology is changing the way the real estate industry operates. The pandemic simply highlighted and accelerated this shift.
5 Tips to Sell Your Home Safely During COVID-19
COVID-19 restrictions limit traditional property showings. The risk of infection means buyers may be hesitant to visit the property as well. Don’t let that stop you from selling your home. Consider the following alternatives:
1. Communicate through digital channels
Have your realtor talk to prospective buyers through phone calls, teleconferences, and or e-mail. A major upside is that you can virtually connect with prospects wherever you both are, no matter their time zone.
2. Double the number of your listing photos on sites like Realtor.com
Provide more detail and visual depth to your listing by doubling the number of photos of your property. Make sure you have listings on top sites like Realtor.com and your local housing groups. Keep in mind that online listings are a key factor for many buyers, so add as much detail as possible.
3. Set up virtual home tours
Live stream open houses are becoming immensely popular among realtors, especially during this pandemic. You basically give potential buyers a virtual tour of the property through Zoom, YouTube, Instagram Live, and Facebook Live. It’s an excellent way to connect with prospects and answer their questions in real-time.
4. Use E-transactions and E-documents
E-signature technology is much more efficient for completing transactions. Documents like land titles and floor plans are available digitally as well. You can simply e-mail them to the buyer and have them returned to you with their e-signature. It’s safe, fast, and leaves a clear record for both parties.
5. Observe strict safety measures during in-person visits
In case an in-person visit is possible where you are, make sure to observe the highest safety standards. Disinfect all high-touch surfaces like doorknobs, lockboxes, keys, and elevator buttons before and after each showing. Enforce personal protective measures and physical distancing policies. Minimize the number of people present at each viewing and always follow public safety guidelines.
It may be challenging to sell your home during a pandemic, but it’s not impossible. In fact, it’s the perfect time to get ahead of the curve by adopting technology and incorporating them into your real estate sales strategy. Innovate, focus on safety, and look for creative ways to make your listing stand out.