In the current pandemic situation, prevailing all over the world, the real estate industry has faced its fair share of low points. Ever since the lockdown implemented back in March, the real estate market has faced a complete halt in its growth.
Now that the lockdown is being lifted in various areas of the country, the real estate business seems to pick up its pace as well. But this time, the situation is completely different. Various protocols have to be followed to protect the buyer, seller, and everyone in between from the deadly coronavirus.
The market will have to adapt to this new way of buying and selling, and the quicker the real estate agencies get on this bandwagon, the better. Let’s find out how a person can sell or buy a house during one of the worst pandemics.
For a buyer, looking for a home, rules have changed. Buyers will have to follow a strict protocol, which includes the use of hand sanitizers and masks during any house viewing—signing waivers that the buyer has no contact with anyone who has been affected by the virus.
House viewings will also become a lot difficult. Only one person will be allowed in the home with the realtor to see the house. The rest of the party will be asked to stay outside. A complete sanitizing of the home will be required after every viewing. You will be even asked to bring your stationery to close the deal.
Selling a home will be significantly harder than buying. As the market has still not recovered properly, it isn’t easy to get a good offer on your property. Moreover, several protocols need to be followed during this pandemic. These protocols seem to be here to stay for the foreseeable future.
Sellers will have to rely a lot more on digital technology to make their house stand out. Some realtors are already using 3D cameras to give a virtual tour of the house to their clients. The paradigms of home selling have changed after the pandemic, and only those sellers will be successful who change with the situation.
Not So Open House Showings
After the coronavirus pandemic, a normal open house is impossible to conduct. Therefore, newer ways are being implemented to show potential buyers’ houses of their choice. Open houses are being held these days with fixed appointments and a strong implementation of safety precautions.
These protocols take a lot of time and effort, hence forcing realtors to move to digital showings, which is time-efficient as well as cost-effective.
After the coronavirus pandemic, the paradigm of the real estate market has completely tilted upside down. In these times, only new and innovative marketing and selling skills that do not require human contact will be successful.
The rules of buying and selling will take place based on the local authorities’ public guidelines.