Selling Your Home Amidst The Pandemic: Is It A Smart Move?
As the COVID-19 pandemic continues, selling a house can be challenging with lockdown protocols in place. Although the pandemic has undoubtedly changed the real estate industry and many sellers are taking a break, it is still a competition, and you are up against all other homes for sale in your area.
Selling a home is very stressful. Selling in this age of a pandemic may seem even worse. However, it doesn’t have to be. It would be a great idea to seek advice with your real estate specialist to adjust your house selling plans and stay focused on getting your house sold.
Here’s what top specialists in the field see in the market, what they think sellers can expect, and how they’re advising homeowners who are struggling on their next move.
The Listing Price
Demand for housing is still spectacularly strong, despite the hit to the economy, with the supply at a record low. Be prepared for prices to drop, but don’t get discouraged. Past housing records show that house prices recover well from sudden market turndowns. Thus, don’t be hesitant to put your home on the market.
Instead, prepare your home for selling. Moreover, consider other homes in your area listed in the price points before setting the asking price of your home. Be straightforward with yourself and figure out if a buyer would pick your home over the others available at a comparative cost.
Even if you’re not letting people in, staging your home has never been more important. Staging utilizes plan and conceptualization methods. The point is to have potential buyers walk in and imagine the property as their home and see themselves living and engaging in it.
It’s all about giving your house a curb appeal, sprucing up your interior, and investing in minor home improvements. When a prospective buyer performs a house inspection through a virtual home viewing, your house should be as attractive as possible to justify your desired asking price.
However, if you think your house is sellable and doesn’t require further touches, it would be practical to avoid any expensive staging and sell a house as is.
Virtual Home Viewing
Let buyers experience your home online. With people turning their attention to their safety and health, it’s more likely that potential buyers will opt to view the home virtually and not in person.
A lot of individuals are fascinated by house hunting but are forced to stay inside their homes. Doing virtual tours allow buyers to view your home at their convenience and to feature your property without exposing yourself to the dangers brought by the pandemic.
Aside from walking homebuyers through your home, a virtual house visit gives them a reasonable encounter. Prospective buyers can take a virtual walk through your dwelling and get an in-depth view while still maintaining appropriate social distancing measures.
After filming the inside of your home, your realtor can post the video on social channels, such as YouTube, or on realtor sites to get potential buyers interested in your property. It is all about getting that great first impression online and selling your home at top dollar.
Select an Agent You Can Trust
Specialists who work with mortgage holders selling a house are classified “homeowner’s agents” or “listing agents.” These agents speak to the interests of the homeowner during the listing and negotiation process.
You will be involved and be in a relationship with your listing agent for a month or longer. Select an agent that you like and have your best interests at heart. Here are some of the characteristics sellers should look for in an agent:
- Honest: Your agent should be sincere. In this case, trust your instincts.
- Experience: Agents who sold several homes in the past. They bloomed in the industry by learning from their mistakes.
- Education: Ask about degrees and certifications. Make sure they are legitimate agents.
- Negotiation Skills: You want an aggressive negotiator, not someone out to make a fast deal to your detriment.
- Networking:This is a people business. A house will sell because an agent has connections with other agents or potential homeowners.
For now, don’t let your nervousness get the best of you. With your agent’s assistance, you can craft a strong counteroffer if you think it’s worth trying to negotiate with someone.
Selling a house is emotional and stressful for many reasons. A great deal is at stake, and it’s one of the most significant money related choices you’ll make in your life. Sellers should be cautious in overpricing their houses. There may be few to choose from on the trade right now, but with the plunge in the economy, bidding wars are few and far between. Ensure that you have plans for certain situations. If you avoid the costly mistakes, you’ll accomplish that consistent, worthwhile deal every home dealer hopes for.