As of May 15th, real estate agents in Allegheny County have been permitted to resume in-person activities for the first time since the “Stay at Home” Order was put in place at the end of March. Not only have there been tons of new listings in the last week (at the time I’m writing this, 969 and counting!!!), but homes are selling (855 so far!!)
BUT...SOME THINGS HAVE CHANGED
As the saying goes, the floodgates have opened, but it isn’t just back to normal. Yes, we can now show homes and go on appointments. But the possibility of spreading COVID-19 remains a concern, and no one wants to go back into the red phase. As a result, some things have changed.
1. MASKS, MASKS, MASKS
If you were in the process of house hunting already, you are probably excited to get back at it, and now you can! You will be expected to have your own mask at all showings, and obviously, you should be wearing it. Gloves may be recommended, along with “foot coverings,” though there is some debate on what exactly that means (a sock, a shoe cover, what?), and unless you are warned in advance, these things should be provided to you. Of course, if you are more comfortable wearing even more PEE, you do you!
2. SPECIAL REQUESTS
Official guidelines may be blurry, but this is clear—buyers must respect each individual seller’s rules. If you are viewing a house and the seller asks that you wear gloves, wear gloves. If they are limiting access to two people at a time, you may have to take turns going in. If they ask you not to touch anything, don’t touch anything! Common sense, but keep in mind these special requests may be more common than before.
3. MORE PAPERWORK
The PA Association of Realtors has released recommended paperwork to complete during the COVID-19 Pandemic, as have all other major real estate companies in the area. These are not more contracts, don’t worry. However, they outline a lot of what I discussed above, as well as other recommended measures of caution. The other purpose is to ensure everyone is aware of the possible risk of exposure, whether buying or selling.
4. SLOWER STREAM OF SHOWINGS
If you are putting your home on the market, don’t expect a stampede. Back-to-back-to-back showings are a thing of the past for now. For one, we have been advised to stagger appointments with generous time between each in order to prevent overlap.
Also, it just isn’t possible for us agents to show as many homes as it once was. It is going to take more time now to complete the same number of showings as it was before. Although we are all trying to be quick and reduce the amount of time in any home, we now have to account for time to don PPE, sanitize, and take turns going in and out of each house.
For the same reasons, if you are a buyer used to seeing 4 homes in an hour, that number may be closer to 3, or even two.
HOW TO PREPARE YOURSELF
1. GET PRE-APPROVED NOW!
More than ever, it is important to have your financial duckies in a row. As I mentioned above, anyone entering a home must abide by the rules of the seller. In this climate, more sellers are requiring a pre-approval letter before allowing a showing. Homes are still selling quickly, sometimes over asking, so sellers can afford to filter showings like this. They want to be sure any buyer is serious and qualified before opening their homes to strangers and potential risk.
If you are a "move up" buyer, meaning you are a current homeowner ready to buy your next house, it is equally important to be talking to your mortgage professional. Given all the uncertainty right now, it is going to be difficult to use a Home Sale Contingency, so it is important to know what your options are from the beginning.
2. HIRE THE RIGHT AGENT
To the sellers: if you have limited time slots for showings (see #4 above), and potential buyers have to reduce the number of homes they see in one day, their first impression better be stellar. Your agent should be skilled in showcasing your home online, otherwise, you risk being the home that doesn't make the cut.
To the buyers: if you are buying a home today, your agent better be able to find listings, complete paperwork digitally, and meet with you virtually. If not, you are putting yourself at a disadvantage. Even if you aren’t interested in the latest technology, it’s important that your agent is.
3. BE SAFE and BE PREPARED
The market was crazy before, and it looks like it's crazy again. Now WITH the added stress of a public health crisis. Sometimes when times are stressful, people do dumb things. Don't let yourself be one of them! Preparation helps a lot, in my opinion. I mentioned that you should be getting your pre-approval, but also do some soul searching. What do I really want in my next home? What are my expectations for the process? Am I being realistic?
Finally, just be safe! For yourselves, for the professionals you encounter, and for the person or family on the other side of the deal. If we are all careful, everything will work out :)
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