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Many of our plans have been put on hold by the spread of a worldwide pandemic - birthdays, holidays, travel, even jobs and necessary surgeries. If you were planning to sell your house and move in the coming months, you’re likely thinking that plan has been brought to a halt. We’re here to tell you that’s not true.
COVID-19 has brought many industries to a standstill - but the real estate market is still up and running, despite what others may think. Experts have estimated that roughly 6.1 million sales will happen by 2021, so clearly we’re not looking at totally bleak prospects for home buying and selling.
If you’re hoping to sell your house within the next few months, that’s still a real possibility. Just keep some of the following tips in mind and alter your sales strategy a little bit.
Tip#1: Market Towards a Younger Generation
If there’s one group of people who are hoping to find better housing options during coronavirus, it’s millennials. Many news sources have discussed how people in their 20s and 30s are hoping for the possibility to finally purchase a home during COVID-19, due to the expected economic recession.
Whether it actually does become more affordable to own a home has yet to be seen, and there are conflicting predictions. However, that doesn’t change the fact that more millennials will likely be paying attention to house listings and ‘for sale’ signs.
Consider changing your sales tactic up a bit to market to first-time home buyers. According to a recent survey, millennials reported that their top preferences when searching for a house are:
- Flexible arrangements
- Innovative and eco-friendly upgrades
- Smart technology
How can you incorporate these features into your home and sales tactics?
Focus on marketing to the younger audience with the elements that matter to them and you’ll likely see more interest in your home.
Tip #2: Update What You Can
If you haven’t already begun the process of trying to sell your home, it might be a good idea to use this quarantine period as a time to transition your home into a sales-ready state. Many home services are still available for repairs and upgrades, even during a pandemic.
For example, have you noticed signs that your roof needs to be replaced? Don’t wait until summer’s busy roofing season to make some upgrades. Call around to see which roofing companies are still running during the pandemic - more than likely, they’ll be thrilled to have some business to keep them going during this rough time.
You can also look into landscaping. A big part of “curb appeal” comes from your shrubbery, lawn, and general outdoor maintenance. Spring provides the perfect opportunity to maintain social distancing while planting and cleaning out those flower beds!
Is a hot summer around the corner? Consider hiring an HVAC company to put in a new AC unit or make some updates so you can advertise a high-tech system. This is especially important if it’s been years since you’ve done real maintenance on your AC system.
Other ideas could include painting your walls, treating all of your windows, or choosing a carpet cleaning company to really take things to the next level. Selling during this time period might be difficult, but the more you can do to improve your home, the easier it will be to find buyers.
Tip #3: Offer Virtual Tours and Meetings
Obviously, it’s not a smart idea to invite strangers to your home to co-mingle during a pandemic. You’ll need to cancel any open houses you might have previously scheduled, if you haven’t already.
Fortunately, there are other ways to let people tour your home - without risking each other’s health. Ask your real estate agent about videoing a tour of your house and uploading it online.
If you really want to get fancy, you can even look into 3-D virtual tours, like you see with many apartment complexes online.
If a potential buyer has questions or wants to learn more about your home, don’t just do it all via email or chat. Instead, schedule a video conference call with you, the buyer, and the realtor. This will make the experience feel more comfortable and traditional, plus it will allow you to put your best sales foot forward.
Tip #4: Continue to Minimize Exposure
Maintaining social distancing doesn’t stop with just halting your tours - selling a house during quarantine means adopting all the safe methods of communication you can. This might be using e-signing programs to negotiate contracts, hosting lots of teleconferences, and being willing to draw out the communication process online.
Just like many other industries, real estate needs to currently adopt safe practices to keep everyone healthy. Lean on your agent for assistance when it comes to finding the best ways to minimize everyone’s exposure while still moving forward on the sale.
Don’t assume that just because the world has come to a standstill that you’re stuck in the same house for the rest of 2020. There are still ways to work on selling your home, even during a pandemic - you just need to employ the right strategies and mindset.