Selling your home around COVID-19
Looking to Sell Your Home During COVID-19? Follow These 6 Tips for Success By Jennifer Billock
Good news, everybody! Even with the new coronavirus’ effects on the housing market, homes are still selling. Real estate in Wisconsin is an essential service. So if you find yourself marketing a house during coronavirus, you don’t need to worry. We can still show it (just in more creative ways), we can still find you a great buyer, and we can still get you a contract signed. Follow these six selling tips during coronavirus to have a successful (and appropriately socially distant) sale.
Price Your Home Appropriately
Times are tough right now, we know that much. But demand for houses is still there—you just don’t want to price yourself out of the available market. Don’t go bottom-barrel prices, because that’s not necessary. And don’t price it too high, because buyers are extra money-conscious right now with a possible recession on the horizon. If you stick to a good, middle-ground price, you should be able to find a buyer without issues.
Mortgage interest rates right now are going to work in your favor, as well. Some buyers may want to snap up those low rates and lock in a mortgage for a home even with non-pandemic pricing. In fact, the Mortgage Bankers Association reported a 7.3 percent increase in people applying for mortgages last week. So you’re in good shape.
Market Your Home Digitally
Shelter-in-place rules and CDC and WHO guidelines are very strict right now. You should only leave for emergency business, and if you have to go out, say six feet away from everyone and wear gloves and a mask. What does that mean for your home sale? It means you should embrace the digital world.
Forget in-person showings and open houses. Instead, get great photos and take video (or make sure your realtor does) so potential buyers can do a virtual walkthrough. 3D video is even better. Consider hosting open houses on social media, as well—that way everyone can still come look at the same time, but no one needs to worry about their health.
Consider a Pre-Listing Inspection
To be honest, this is good advice across even without taking COVID-19 into consideration. A pre-listing inspection will allow Wisconsin sellers to get an early view on what could need fixing or what may cause a problem.
With coronavirus, it’s especially beneficial. You’ll get the information you need ahead of time so you can start with repairs right away—which could take longer right now. Just make sure the inspector walks through alone, wears personal protection equipment, and that you clean thoroughly afterwards.
Ensure You Have the Proper Disclosures
In Wisconsin right now, agents are including COVID-19 disclosures with all home sales. Make sure you have them signed and ready to go. Basically, they acknowledge the current pandemic, and allow for delays or terminations of sales based on how someone is feeling.
Remember to Close From a Distance
Good news, Wisconsin: If you have to sign closing documents, you don’t have to share a pen. You don’t even have to pick one up. Thanks to emergency legislation, the state government is allowing everything to be done remotely. No closing tables, no crowds, no concerns. Remember that when you near the end of your sale.
Be Patient
It’s a trying time right now. Do your best to remember that everything is moving slower since more people are out of the office. Don’t get too stressed out if things seem to be taking longer than you expect—delays are, unfortunately, completely reasonable right now.