Leave it to the Bay Area to recover quickly even in the face of a pandemic. Spring 2020’s anticipated home-buying bonanza in the area may have been jolted by the unexpected global onslaught of COVID-19 but things are picking up anew this summer.
Some changes are to be expected, though, if you’re planning to sell your San Francisco residence alongside other homes for sale in the area, especially those in Noe Valley, St. Francis Wood, and Pacific Heights. Considering that we’re entering the phase of a “new normal,” selling a home while in the midst of an ongoing pandemic requires some adjustments. Here are some of them:
Waiting vs. giving it a go
True, there is some uncertainty brought about by the prevailing threat to people’s health and lives. The economic downturn that occurred as a result of lockdowns and quarantines has forced several businesses to shut down or lay off workers. With more people out of a job, financial security is quite shaky.
However, it is an undeniable fact that people still need a roof over their heads. They will keep on moving and will find a way to finance the purchase of a home of their own. The Mercury News reports more eager buyers than there are sellers in the Bay Area as of April, and this is pushing home values much higher. Thus, selling at this time is the opportunity you shouldn’t miss out on.
Going digital is the key
Sure, you can finally proceed with your plan to sell your home. But know that even while the US economy is slowly reopening, the coronavirus is still in our midst. The new normal calls for social distancing to prevent the further spread of the virus and open house viewings are not recommended at this time.
Nothing can be more compliant with social distancing directives than conducting business online. So, consider the possibility of having a virtual home tour. This marketing tool provides a dynamic home-viewing experience from the comfort of one’s own home. Potential buyers can request to look into the finer details of a house or ask questions to the home seller or their agent in real-time.
Social media is your friend
We all know the extent of social media’s reach. Facebook alone can reach a monthly average of 2.6 billion active users, as seen in first quarter 2020 figures published in Statistica.com. Imagine tapping that massive network Facebook has to market your home for sale. Then there’s Twitter, Instagram, LinkIn, and Google+ if you want more social media platforms for your online marketing blitz. Just keep your description brief but interesting and showcase the best photos of your home!
Online negotiations
Who hasn’t experienced taking part in a video conference? Thanks to video apps like Zoom and Google Meet, the same kind of online discussions people have with office colleagues can also be used for holding negotiations with potential home buyers.
E-signing to close the transaction
Most states have agreed to close contracts and bind agreements electronically, given the situation brought about by the COVID-19 pandemic. However, the latest in California e-signing stipulates that signatures of this nature won’t be considered legal unless all parties concerned (in this case, both home buyer and seller) agree to the conduct of this transaction. You can read more about this here.
For better guidance in this age of COVID-19, don’t hesitate to come to me – Amir Hardy – to lead you to home-selling success. Call me at 415.602.0570 or drop me a note at amir(dotted)hardy(at)compass(dotted)com.