Selling a House During COVID19: How to Stay One Step In Front of Others

The Coronavirus pandemic has had an interesting impact on the real estate market. While some areas are struggling, other areas, such as the DC metro market, are booming. According to Houzeo, changes to financial situations and work ties have inspired many house owners to sell.

If you're planning on making your move during this tumultuous time, here are some helpful tips for selling your house and standing out in the crowd.

Know the Market

The most important factor in selling your home during COVID-19 is to know the local market. First, determine whether you live in a buyers' market or a sellers' market. If homes are selling fast and going for their asking price, you're in a sellers' market and stand to make a quick sale. Conversely, if homes in your area are staying on the market for long periods, you're in a buyers' market.

You'll also want to know how much similar homes are being listed to get a better idea of your earning potential. 

Invest in Professional Photography and Videography

Many prospective homebuyers are taking more time to look around online before booking a showing. This is primarily due to the challenges brought upon by the pandemic. While photography always played an important role in attracting buyers to your listing, it's unequivocally crucial now. 

Invest in professional photography and videography to showcase your home in its best light. Use videography to put together a virtual tour of the property and house. You can often find services that will also use a droid to give a higher-level view of your home.

Invest in Professional Cleaning

Deep cleaning your home has always been an important step in the sales process. Now, however, it's a non-negotiable. Hire a professional cleaning service to get your home market-ready, and ensure that everything is safe and sanitized before doing a showing.

Use this opportunity to declutter and make your home more minimalist-friendly. This both appeals to prospective buyers and removes touch points that will need to be cleaned again later.

Create a Marketing Plan

Marketing your home is essential to getting it sold! Working with an agent that has an online-focused marketing plan can be the key to selling quickly and for top dollar. Here are some examples of great real estate marketing ideas:

• A social media launch plan with teaser shots leading up to the listing date.
• Listing your home on the MLS and other relevant sites.
• Include all the pertinent details around the home in your original social media posts— not just a link.
• Make all posts public and add a call-to-action (CTA)— for example, "please share."

Having an effective marketing plan can decrease the time your listing spends on the market and help get you the price you want.

Practice Safe Home Showings

Safety is paramount when selling a house post-COVID. Practice safe home showings by scheduling appointments and ensuring only one family visits at a time. Practice physical distancing, mask-wearing, and hand sanitizing. Keep a few masks handy in case someone forgets theirs.

Make time to sanitize everything between showings. Another option is to host virtual showings using live streamings, so the prospective buyer can log in, look around, and ask questions.

Use Electronic Closing Protocols

While many industries were already moving toward digital documents and electronic signatures, the Coronavirus pandemic has expedited the shift. Real estate, in particular, is being disrupted by this change in technology.

The primary change is the move to electronic closing protocols. This means replacing paper documents with digital copies and conducting the closing in a virtual setting. Fortunately, this change will save time and closing costs for the seller.

The pandemic has changed the world in many ways. If you're ready to keep the changes coming and sell your current home, use these tips to guide the process.