Friday, August 28, 2020 / by Earl Gaddi
Under normal circumstances, putting your property on the market may be an overwhelming process, even for the experienced homeowner. This year may feel particularly daunting given the lack of knowledge surrounding the pandemic and market stability.
A slow spring gave way to a promising summer market in real estate. In July, the Canadian Real Estate Association (CREA) reported national home sales bounced back from their pandemic-induced springtime lows, rising by 26% month-to-month. If this recovery momentum continues, the usually busier fall season could see a wave of homeowners listing their properties with plenty of buyers waiting to snap them up.
With markets shifting as a result of coronavirus, it is important to keep track of what is going on and to respond accordingly. Make sure your listing agent has a pulse not only on the area they serve but also on the overall base market and other emerging trends. For example, if you're selling a single-family home, your realtor should be able to see if there's an increase in buyers selling condominiums and moving to your neighbourhood, and how your listing should target that audience.
Keep a Finger on the Pulse
Have a Plan in PlaceIt's good to plan ahead for everyone's safety and well-being. Realtors should set a protocol on how each show and open house will operate in accordance with local public health guidelines. Prepare each property for display by arriving early, providing a thorough cleaning and opening of all interior doors to prevent visitors from touching high-contact surfaces. It is also recommended that visitors be provided with masks and a disinfecting station for use before and after use.
Have a conversation with your realtor about the measures they are taking to protect your health and the health of potential buyers who are coming through your home.
Presentation is EverythingGiven the seriousness of the purchaser's motivations and the social distancing recommendations that have resulted in less frequent in-person demonstrations, it is important that first impressions be counted at home. This means a clean, well-maintained environment with the best features of the property.
Leverage Technology for Your HomeWith more buyers spending their time on their phones and computers, a more aggressive online marketing approach is crucial. When preparing your home for listing, ask your realtor how they plan to leverage technology to give your home exposure.
High-quality Matterport and virtual tours can be a powerful substitute for buyers and sellers who are less comfortable with in-person tours. Instead of sending physical copies of flyers and feature sheets, convert these materials online so that they are readily available. It is also vital to have a strong presence on social media and relevant real estate websites.