Quick Tips for Sellers in Covid-19 Market

April 13, 2020

If you’re looking to sell your home, you’ll need to modify your approach with some common-sense steps that take into account the COVID-19 crisis.

Talk to your agent about how best to market your home.

We’re seeing increasing use of 3D or virtual tours, video, and advertising on social media and portals. With the decline in readership of many local newspapers, print advertising is probably out of the question.

The goal, of course, is to get as many people to see your property as possible.

The economic uncertainty caused by COVID-19 has prompted many homeowners to pull their properties off the market. That also means buyers have fewer properties to choose from, which plays to your advantage.

The scarcity factor can bolster the likelihood of reaching your desired price.

An essential change to selling property has been the suspension of open-house showings. Ask your agent about how they’ll conduct open houses at your home.

They can’t take any more than one person through the property at a time, and no more than 10 people in the home at once.

So, we’re recommending you block out two or three hours to allow multiple showings, thus minimizing the inconvenience to you.

Your agent should also tell prospective buyers not to touch anything in the home, including door handles, because of how contagious the virus has proven to be.

Be sure to stress to your agent that anything is touched, then you’re told about it. Organizing blocks of showings will allow you to disinfect all areas that might have been touched accidentally.

Top tips for Sellers:

Invest in quality still photography, videos and virtual tours so prospective buyers can see your home online.
Check with your agent that under-bidders or low bidders are given the opportunity to make a more competitive offer. You should ask agents about their negotiation experience(s).
Make available floorplans and any building or pest inspections you have taken independently to help facilitate showings.
Be prepared to negotiate. Economic uncertainty can swing momentum to the buyer. But extending the closing period can be highly attractive to a buyer in uncertain times such as these.