What are Realtors Doing to Sell Houses During the Coronavirus?
COVID-19, commonly called Coronavirus, has ultimately turned 2020 upside down. With many businesses needing to temporarily close, states quarantining their residents, and the need to change the way we conduct business, the real estate industry has taken a hit. However, interest rates for mortgages are at an all-time low, making it a seller’s market.
But when you are preparing to sell your home, you still want the trusted guidance of a realtor. The realtor can assist you through the process of figuring out how to sell when you’re supposed to social distance from others and close a mortgage when businesses are temporarily shut down.
All CDC guideline recommendations should be followed by both buyers and sellers. In the unique situation of having to stay at least six feet from another person, showing your home to a potential buyer can be challenging. Realtors have started relying heavily on virtual walk-throughs because in these unprecedented times, allowing unfamiliar people in your home can be a big risk. But when that’s not possible, extra precautions are being observed including:
- Limiting the amount of people in the home at a time
- Requiring a distance of six feet between people
- Requiring the use of hand sanitizer
- Wearing Personal Protective Equipment (masks, gloves, etc.)
It’s best practice to always clean and disinfect all services of the home once the showing is complete. Sanitizing high-traffic areas such as doorknobs, kitchen surfaces, and handles should be done regardless.
Getting a Mortgage
Since rates are low, it’s a good time to get a mortgage. Most of the paperwork can be done online now, with digital signatures and protected documents. Lenders have also become more lenient, understanding that their normal requirements, such as appraisals and walkthroughs might only be able to be done either virtually or exterior-only right now. Generally, the closing process on a mortgage requires signing and notarizing the loan and mortgage paperwork in person, and some states have gotten creative in being able to maintain a six foot distance while getting the signing done.
Hiring a Real Estate Agent
Real Estate Agents and Realtors are the experts in selling homes. Since they already utilize digital ways to get the buying and selling done, they can offer tips on the best angles and lighting to use when taking pictures, the best technology platforms to use to upload your images and videos so they don’t become “fuzzy”, and how to best stage your home - all through a video call walking through your house.
Real Estate Agents and Realtors will also offer you support. Emotions can already be running high when you’re looking to buy or sell your home, and having someone in your corner that’s level-headed and objectively works for you, can be refreshing during these times of uncertainty.
Renovo has a very strong referral network that we often call our Circle of Success™. If you're looking for a real estate agent for your project, we can connect with a loan officer and we can work with you to find one that specializes in your area.
Should you buy or sell right now?
Ultimately, buying or selling a home is always dependent on you and your situation. With Renovo, if you’re looking to fix and flip, or fix and rent, we can work with you to transition a rehab loan into a long-term rental loan.
Contact Renovo today to talk to one of our specialized loan officers about options you have to get the best price for your home.