Seeing Opportunity in Real Estate during COVID-19
Opportunity (noun): “a set of circumstances that makes it possible to do something.”
Whether those circumstances are positive or negative, they are still circumstances. It’s absolutely no surprise to anyone that we are in a major crisis with the novel coronavirus (covid-19) among us. The majority of people consider it a negative circumstance (myself included some days) but I’m choosing to look at it as a positive opportunity!
With this new circumstance, I’m seeing and experiencing so many new opportunities in Real Estate that were not previously utilized as much. Here are the ways we, as Realtors, are getting creative in order to continue serving our clients, colleagues, industry partners, and more while also adhering to the social distancing directives to keep each other safe.
Going Virtual!
From pre-listing to inspection, we are blessed with a lot of technology platforms to help along the way.
Pre-listing “home improvement” walk-through can easily be done by FaceTime, skype, zoom, etc. Now is a great time to get your home ready to list, while we are “stuck” at home anyways!
Listing game-plan conversations can also be done over the above mentioned platforms. We can still be face to face without being next to each other!
A good Real Estate photographer can produce digital floor plans as well as 3D virtual walk-throughs where you can “walk” through the entire house at the click of your mouse to get a feel for the true layout. Maybe this will finally be a wake up call to agents who don’t use a professional photographer? We can only hope! (One of my biggest pet peeves) ex. click here! (scroll down to 3D)
We can also get creative with Open Houses by doing them through FaceBook Live or YouTube. It’s a great way to also walk through the house pointing out the incredible features and benefits that may not show in photos!
A TON of marketing these days has already shifted to less print and more digital so this falls in line!
Vetting Prospects
With the current health situation, it’s completely fair to ask every single showing request if the buyers are currently pre-qualified or pre-approved for a home loan to ensure they are “serious” before they enter the house.
If they are deemed as serious buyers and allowed inside, we are setting up a sanitation station at the front door and sanitizing before and after the showing. In addition, we are leaving doors open (not the front door silly!) and keeping lights on to avoid touching doorknobs and switches.
It’s no surprise that showings have dropped fairly significantly. However, in my opinion, this could be a good thing. There are always a lot of “looky loo’s” who just like to casually look, which has been eliminated, at least in person.
Closings
In a typical scenario, the closing table usually hosted the buyers, their agent, sellers, their agent, the title representative, and occasionally the buyers lender. Closings are now being held in their respective cars with just the title representative getting signatures at the car door.
While this certainly takes a lot of the excitement out of it, it’s absolutely necessary to ensure a safe environment for all parties.
Mortgages
I am definitely not an expert in the lending side but thats why I partner with the experts! They have also had quite a few changes to their rules, regulations, abilities, etc. Of course, the changes depend on the specific applicants scenario.
A few of those changes include: drive-by/desktop appraisals, verbal verification of employment, etc.
Bottom line is: I’m blessed the State of Colorado deems Real Estate as “Critical Business” and that we have the opportunity to get creative in order to continue serving our community while staying safe and healthy.
This too shall pass… and when it does (or before it does), I want to be YOUR ForeverAgent.
Kylie
