Q: How Is Real Estate Operating During the Pandemic?

These are some of the ways real estate has changed due to COVID-19.

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Here are a few of the key ways that the real estate industry has changed due to the COVID-19 pandemic:

1. Virtual options. Many listings are being presented via virtual tours, Matterport 3D tours, and social media platforms. Virtual offers are being accepted, too.

2. In-person options. For the sellers holding in-person showings, they are having separate showing times and requesting that masks and gloves be worn by buyers and their agents. They’re also asking people not to touch doors or light switches. We’re also taking great care to make sure we don’t infect a seller’s home.

3. Open houses with social distancing. We’re having one family at a time enter the premises while the others wait outside.

We’re taking great care to make sure we don’t infect a seller’s home.

4. Appraisals. Some are being done as desk reviews instead of physically going out to the property. It all depends on the lender with which you're working.

5. Closing in two to three phases. There’s a buyer phase with the buyer’s attorney and the buyers, and a seller’s phase with the seller’s attorney and the sellers.

If you have any questions for me, don’t hesitate to reach out via phone or email today. I look forward to hearing from you.

The Challenges & Benefits Facing Those in the Real Estate Market

Here’s how we’re addressing the challenges of real estate amid COVID-19.

Selling your Massachusetts home? Get a home value report

Buying a Massachusetts home? Click here for full MLS access

One of the main concerns for home sellers right now is our ability as real estate professionals to show and sell their homes as safely as possible during this pandemic. We achieve safety by:

1. Forgoing group open houses.
2. Verifying buyers have not been exposed to COVID-19, nor currently feel sick in any way. No one can enter your home unless they’ve been vetted. 
3. Conducting virtual meetings at a massive level. 
4. Teaching clients new ways to operate their business. The implementation of virtual signatures, contracts, and meetings have truly revolutionized many industries, including our own.

While it’s easy to focus on the obvious hurdles of buying and selling real estate during a health crisis, there are some real benefits for those interested in making a move in the market at this time:

1. Only serious clients are looking for homes. There’s no wasted time with looky-loos.
2. Rates are still at historic lows. Though there’s no telling how long that will last, many speculate it will remain through the end of the year. 
3. Sales are very competitive. There are plenty of active buyers out there hungry for a properly priced home in good condition. We’re still expecting somewhere between 4 million and 4.5 million sales to occur nationwide in 2020. 
4. Sellers will likely net more money in June and July 2020 than in any other period for the next 12 to 24 months. This is largely because, in light of so many people being out of work, we are potentially rolling into what will be a long recession.

Remember: Your safety is our No. 1 priority. We’re using plenty of sanitizer and disinfectants, practicing social distancing, and wearing gloves, masks, and shoe guards. If you have any questions about real estate during these uncertain times, please reach out by phone or email. We’d love to help you in any way we can.