Industries around the world are struggling amidst the COVID-19 pandemic. Yet, the real estate trade in locales like Coachella Valley remains stable, according to agents interviewed in a news article by NBC Palm Springs. If you’re looking to sell your residential property, here’s how to ensure that you make the most of the current situation:
Where are we at?
It’s not a seller’s market — at least not yet. Buyers have limited options in thriving or attractive communities, such as Palm Desert and La Quinta. But factors like smaller budgets of first-time buyers and those experiencing financial constraints will impact the market in a big way. Sellers like you may also find themselves challenged by local regulations being implemented in response to the pandemic.
Set your expectations
Work with a real estate agent to stay abreast of the state of the local market. With their professional experience, they can help to determine what about your property to highlight to better attract buyers. A realtor can also help you determine pricing, come up with selling strategies, and give you an overview of the whole process. With their industry expertise, they can help you get the best offers for your property.
Be cautious with inspections, appraisals, and in-person showings
The industry has quickly adopted measures to keep buyers and sellers alike safe from the virus. Do your part to keep yourself and your family protected. Follow health and safety protocols mandated by your local government and the state.
Your realtor will help limit the number of people that enter your house for assessments or showings. Sanitize your home after these in-person meetings. Also, maintain social distancing, wash your hands often, and wear a mask when interacting with people outside your household.
Take advantage of virtual marketing
It’s best you hold virtual tours and online meetings instead of doing any in-person marketing. Enlist your realtor’s help in putting together a comprehensive video for prospective buyers. You can put up a professionally shot video (and photos) to showcase your entire home.
You can also livestream a tour via platforms like Zoom, YouTube, or Facebook. Maximize online listings to connect with prospects. It may even be possible to close remotely.
Don’t hesitate to negotiate
House prices reportedly rose 3.8% in May as compared with last year. This means you can pretty much stand firm on your price if you feel it’s a fair one. Make a counter-offer on the price if you think it’s called for.
Alternatively, you can opt to negotiate the conditions of the sale. For instance, you can offer a lower price if the buyer is willing to close on the deal quickly. Or, you can agree to an extension if the buyer promises to meet your price. Working with an experienced realtor in your area will ensure you have the professional help you need to initiate, negotiate, and close the sale.
With or without a pandemic, there will always be people moving and buying or selling homes. Even with this crisis, you can still have a positive selling experience and get the best value for your asset.
It is, of course, highly advisable that you have a realtor by your side to oversee and facilitate your property’s sale.