According to Peter Lane Taylor of ForbesLife, it’s never easy to buy or sell a home—even in the best market conditions. During the Covid-19 pandemic, it’s become nearly impossible.
“I know this firsthand. My wife and I listed our house for sale in late February, shortly before Washington state reported its first Covid-19 related deaths. We went under contract in less than 24 hours. Full ask. 30 day close. Everything was going exactly according to plan.”
Until the Dow cratered and it all fell apart.
Our story isn’t unique in the new corona normal. The U.S. housing industry is on lockdown. New construction sales centers are empty. In most states real estate agents can’t show houses. Inspectors won’t inspect. Appraisers can’t appraise. Even cash buyers willing to waive contingencies can’t get an appointment. Closings for homes that went under contract before America put its economy on ice—if they happen at all—are now done virtually via Zoom, Docusign, and drive-through title companies in order to comply with stay-at-home orders and social distancing guidelines.
However, at BHHS EWM, we have discovered ways to perform virtual showings — facebook live streams for our open houses has allowed us to reach audiences across the globe — even allowed us to interact with our online audience during the walk-through of the property.
Life goes on — processes change to adapt to our “new normal.”
Real Estate sales will continue. People need a place to live. That is why our job is an essential one.