*You just need to go about it differently.
May escrow closings were the lowest they’ve been since the great recession, but pending sales have recently increased by 67% in California. Part of that is due to the fact that it was illegal to show property in person from mid-March through mid-April, and most escrows last 30-60 days. Thanks to the California Association of Realtors and Governor Newsom deeming Real Estate an essential business and establishing guidelines for showing property, listings are increasing, as are showings, contracts, and closings. Judging by the number of pending sales, June and July’s existing sales numbers will be significantly higher – and much closer to last year’s figures.
If you’re in the market to buy or sell this summer, below are new guidelines:
Virtual Open Houses: Public open houses are illegal in the state of California. Creative agents are hosting Zoom open houses, where, during a designated period of time, prospective buyers can dial in, speak directly to the agent, and virtually view the property. Since it’s in real-time, they can ask questions about the property, request to see anything in more detail and get a feel for the flow of the home.
Appointment Only Showings: All in-person showings must be by-appointment-only. All buyers must sign a “Coronavirus Property Advisory & Declaration,” affirming they are not infected with Covid-19; and that they will adhere to all health and safety guidelines. These include, but are not limited to: wearing a mask, maintaining a 6’ foot distance between themselves and any agents present; and not to touch knobs, faucets, drawers, light switches, etc.
Limited Access: Only a single agent and a “buying party” are to be in a property at the same time. A buying party may be more than one individual buyer, but they must reside in the same household. Sellers who are currently residing in their property must step outside during these showings.
Electronic Marketing: All property information, brochures, or handouts must be delivered to buyers electronically. Creative agents may offer a QR code, that buyers can scan onto their phone and immediately receive pertinent information. Many restaurants are sharing menus this way.
Proper Sanitization: It goes without saying that your home should be sparkling clean before a showing. These days, it needs to be taken a step further. All properties should have commonly used surfaces cleaned and disinfected before and after each showing. If the home is vacant, the agent showing the property is responsible for this.
The good news about selling during this time is your listing will attract serious buyers only! Once a buyer writes an offer on your home and escrow opens, 99% of the remainder of the process will take place virtually. Any inspector who needs to enter the property will adhere to the same guidelines, ensuring a safe transaction for all.
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