As the COVID-19 impact still grips much of the U.S., the housing market continues to see increased demand. With lower inventory, especially in the suburbs, sellers have the upper hand. In the middle of a pandemic and in a climate that benefits sellers, it’s critical that you take extra care to help buyers through the real estate process.
You should already be intimately aware of safety protocols in your area and staying informed of any policy changes announced by your state and local government, so here are a few basic tips to keep in mind when assisting homebuyers:
Be aggressive. If the buyers you’re working with find a property that they’re in love with, make sure they’re prepared to go in strong. With an influx of buyers and limited inventory in much of the country currently, it’s important to make a strong offer. Not only is the market hot, but many buyers waited until the worst of the pandemic was over to start their home search in earnest. In order to have the best chance of closing a sale, depending on your local market, it may be the right decision to advise your buyers to offer above the seller’s asking price.
Handle the paperwork beforehand. Depending on your area, you may be required to fill out additional paperwork related to the pandemic. With everything that’s going on in the world currently, it’d be a wise decision to help your buyers get all the paperwork out of the way early in the buying process. You don’t need to deal with any extra headaches in 2020!
Stay flexible. In these uncertain times, don’t get too frustrated if one of your buyers cancels a tour at the last minute or if another buyer forgets a mask when arriving for a showing. Be prepared for these kinds of things to happen—be flexible with your time and have masks and sanitation supplies on hand. Remember that your buyers are likely encountering more hurdles than they usually would on their home-buying journey.
Agents, what are some other basic steps you’re taking to ensure that buyers experience a smooth transaction in spite of the pandemic?
Jameson Doris is RISMedia’s social media/blog editor. Email him your real estate news ideas to jdoris@rismedia.com.
Make sure the buyer’s lender has fully documented income and assets as well as the credit. Some are merely issuing a pre-approval letter that really isn’t complete.
Worst of the pandemic is over? What planet?