Selling Your Home During the Corona Virus

Were you ready to sell your home and then the Corona Virus happened and now you are unsure what to do? Selling your home during the corona virus is still possible – maybe even a good thing! We’re all working through this together and every scenario is different, so let’s walk through the goods, the bads, and the best practices.

The Goods:

  1. Thus far home buyers are still out in full force and wanting to buy a home. Between March 1st, 2020 and March 19th, 2020 (day of writing) 1,216 homes have gone up for sale in Sacramento, El Dorado and Placer counties and 1,508 homes have gone pending under contract. This means we still have a steep shortage of homes for sale compared to home buyers.
  2. The mortgage interest rates are remaining low. We did have an uptick in rates when the Covid-19 first came on the scene, but they have since dropped back under 4%. These are outstanding rates and save you so much money long term if you are thinking of selling your current home and buying a different home. This is exactly why the savvy home buyers are still on the hunt!
  3. We may see fewer home sellers put their house on the market over the next month or two. Why is this good? For the savvy home seller they will realize it means less competition. And less competition means selling quicker and for more money. Look at this as a great opportunity for you, as generally those who wait until April or May to list their home for sale are with all of the other people who think waiting until Spring is the best time to list…when in fact it means there is a flood of inventory and many more choices for home buyers.
Lower interest rates means more home buyers. Cautious home sellers means less competition. This is an opportunity to sell quickly and make more money.

The Bads:

Truthfully…none of these are all that bad!

  1. We need to be careful about allowing strangers into our houses. But don’t we always? Whether it’s the flu, a cold, or anything else, it’s always wise to take extra precautions when allowing strangers into your house. Caveat: if you or someone in your household are high risk then yes, it probably is wisest to wait until things have settled. For the rest of us, I’ll be outlining some best practices in a moment.
  2. There will be fewer showings. This could be true, but we don’t know yet exactly how this is going to pan out. Some agents are doing video walk-throughs for their buyer clients. Most agents are NOT holding open houses. And certainly, the looky-lous won’t be out casually calling agents to look at homes. So what does this mean for the home seller during the Corona Virus chaos? It means though you may have fewer showings they will be SERIOUS buyers. Doesn’t this mean it’s actually a good thing? 😉
  3. When the Covid-19 scare is done ALL the homes will come on the market at the same time. Once home sellers are more sure about the future they will be right back where they were before – ready to list! Beat them to it instead of waiting to be a part of the crowd. It’s harder to stand out in a crowd and thus generally means it takes longer to sell and you won’t have home buyers fighting to buy your house.
It’s ok that there are less showings – SERIOUS buyers still want to buy – looky-lous are the only ones not coming through your home.

Best Practices for Selling a Home during the Corona Virus

  1. Provide hand-sanitizer and shoe cover booties for showings. A top notch real estate agent will provide these for you. In addition, you may want to add a sign at your entrance that says something along the lines of “Please sanitize and put on booties before entering. We’d be grateful if you avoided touching surfaces.”
  2. Have your realtor pre-screen for sick home buyers. When an agent is scheduling a showing it’s a simple thing to ask that any exposed or ill people to please not enter the home.
  3. Take 5 minutes when you get home to wipe down kitchen and bathroom counters. These are the most likely spots people will have touched (even if you asked them not to). It is a bit of a hassle but by focusing on the rewards I think it’s worth it.
  4. Skip the open houses. I love open houses! They are a wonderful way to market a home for sale. However, it is difficult to watch people’s every move and frankly most people walking through open houses aren’t serious unless it’s the first weekend the home is on the market. And the really serious buyers will schedule a showing with their real estate agent.
No open houses, hand-sanitizer, foot booties, pre-screen phone calls by the agent, and a quick wipe down after the guests have left will keep you and your family protected.

Wanting to sell your home? We are here to help you! We are a proactive team of agents who are always looking to provide such great service you can’t wait to tell your friends and family about your awesome moving experience. Learn more about selling a home with us.

Curious about buying a home during the Corona Virus?