Buying and Selling Homes Virtually - 3 Tips - Best REI

Our very own Realtor, Judy Best – eXp Realty Arkansas, is listing homes and showing buyers homes during this difficult season. The safe process is just a little different from how we normally toured homes, and motivated sellers and buyers are making deals right now. Some buyer are touring homes virtually using videos and other Live cell phone tours, making offers, and buying houses after good inspections. If you’re considering Buying or Selling Homes Virtually, here’s our tips and procedures.

Safe Listing Process

  1. We can meet with sellers virtually or by social distancing with masks on, whichever works best for the seller.
  2. Sellers can set certain times for the home to show, based on when they can be away from the home most conveniently. That could be while you’re at work or on weekends, when you can easily take the family out of the house. Of course, if you have a vacant home to sell, this is a great time to sell it anyway.
  3. Photographer can photograph the home at the seller’s convenience, wearing mask and gloves.
  4. All offers can be handled virtually.
  5. Inspections can be done at the seller’s convenience, again with masks and gloves.
  6. Closing can be done virtually or in person safely, again with masks and gloves.

The biggest inconvenience for sellers at this time is having to leave the home for showings and shelter pets elsewhere for showings. And, most sellers will want to sanitize their home again after showings. Getting the price on the home right is vital right now, because that means fewer showings before offers start flowing in. For that, sellers need a Realtor like Judy Best to provide a home valuation based on sales in the neighborhood for homes in similar condition. Home valuations are free, so reach out if you want one. Sellers, read on to see how buyers will safely tour your home.

Safe Showing Process

  1. Sellers or their Realtors will be asked to turn all the lights on before showings. Realtors showing the homes will be asked to leave the lightsSelling Homes Virtually on. That way no one is touching the lights except the sellers or their Realtors.
  2. Showing Realtor will unlock the door, wearing disposable gloves, and open doors for buyers for anything they want to see in the home. At the end of the showing, the Realtor will lock back up, and dispose of their gloves in their vehicle.
  3. Buyers and Showing Realtors will all be asked to wear masks and social distance.

The big thing to know now is the real estate market is still going strong. Is it a buyers market or a sellers market? It depends on your perspective. Real estate inventory is low right now, so any new house listed with an appropriate price gets lots of showings and offers. That means it’s a strong sellers market. That said, fewer buyers are out looking for houses right now, so buyers have an easier time finding a deal and securing the house of their dreams right now. Which means it could just as easily be a buyers market as well.

Is Now a Good Time to Sell Your House?

Selling Houses VirtuallyThe answer is a resounding Yes! With inventory low, your house has an excellent opportunity to sell fast and at a good price. That doesn’t mean it will sell for a much higher price than what’s it’s worth, but it does mean you can get exactly what it is worth and maybe a little more if you have a Realtor who is good with negotiations.

And, the other issue is … we are all guessing what will change in our world after this pandemic ends. Selling prices are holding strong right now, so it’s a good time to sell now. If fewer buyers are looking for homes or they can’t qualify as easily for mortgages, prices will drop with fewer buyers on the market.

If the house needs lots of updates and repairs, but you need the cash now, reach out to Best REI. We can make you a cash offer, that you can accept or decline with no pressure!

Is Now a Good Time to Buy Your Dream Home?

Another resounding Yes is the answer to that question. Mortgage interest rates are still low, which means you’ll pay less over the years of your mortgage for that home. While lenders are beginning to raise the lowest credit score they’ll underwrite for a mortgage, there’s lots of lenders still lending for a variety of credit scores.

For buyers considering looking for a home, reach out to a Realtor like Judy Best, who will help you find a lender who will make the best deal for you on a mortgage. The pre-qualification letter will tell the how much mortgage the buyer can buy. That’s the perfect time for the buyer and their Realtor to start reviewing homes in the area.

The Realtor will also review the costs the Buyer may incur, so they can make sure they’re financially ready for this purchase. The Buyer will at a minimum have to pay for the inspection and appraisal. Additionally, the Buyer will have moving costs, utility deposits, and perhaps a down payment and closing costs. Additionally, buyers may need to make some immediately purchases for their new home, like appliances, fences, and more, but these are all based on immediate needs.

If you are looking considering Buying or Selling Homes Virtually, reach out to our Realtor Judy Best today!