Real Estate and Covid-19

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We all know that real estate is a very personable industry – you get to know your agent, attend open houses, await inspections, and meet at closings which all involve some sort of face-to-face interaction. According to the National Association of REALTORS®, the state mandated shelter-in-place and travel bans have made most of realtors’ day-to-day work seem nearly impossible, but we’re still working through it. Thankfully, real estate in Tennessee is an “essential business,” so we continue to work, making adjustments for the environment.

Real estate agents everywhere in the United States are wearing gloves and masks, carrying hand sanitizer, and engaging in more of the virtual world of real estate. Zoom calls for meetings with both buyers and sellers, FaceTime walk-throughs and house tours, and digital closings have all made these trying times a little easier. Though there are the negatives, this pandemic is slowly creating a seller’s market due to buyers being more skeptical about the market. 

Lawrence Yun, chief economist of the National Association of Realtors®, stated that “Home sales will see significant declines followed by significant increases. It will be a wild swing,” says Yun. “I’m hoping the rebound can make up for the decline.” Sellers are also waiting to list. Historically, as schools end, listings significantly go up, but in the last few weeks people are deciding to wait and many have taken their homes off the market to lower the number of people in their home for fear of spreading the virus.

Many sellers must continue to market their homes now. As a seller, here are some helpful tips to ensure you’re creating the safest environment for all parties involved: wipe down all surfaces, cancel any showings if you or someone in the household are sick, use hand sanitizer, leave all doors (excluding front door) open to avoid contact with other parties, and make a faithful attempt to utilize all virtual possibilities. 

On the other hand, if you’re actively looking to purchase a home please ensure you are considering the following tips: drive your own car, wash your hands frequently, sanitize after each walk-thru, stay home if you or someone in your household is sick, and use all the virtual opportunities available to limit interaction with other parties. 

While selling and buying during COVID-19 isn’t the “typical” manner in which real estate operates, it is still an option. We are here to meet your home buying/selling needs, assist you in every step, and support you through what can already be a difficult decision-making time. You can be assured that the professionals at Crown Realty Experts are taking our own advice and following every precaution to keep our agents and our beloved clients healthy and happy during this time. If there is anything we can do to assist you in real estate or otherwise during this time, please don’t hesitate to reach out to us.