FoxBusiness.com Fox Business April 5, 2020
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The stigma that has been historically associated with a home’s “days on market,” as it relates to home sales is soon to be a thing of the past.
The real estate market is definitely not operating in a traditional manner during the coronavirus pandemic but real estate professionals have been working behind the scenes to ensure that the industry remains a safe haven amidst an upside-down world.
There are still an incredibly large amount of unknowns out there but we are doing our best to operate after the shocking developments that came in March.
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For people who have been considering selling, it might not be necessary to wait. One benefit of Americans being home all day is that they are online all day long. ALL DAY.
I’m online while I’m typing this. My screen time on my iPhone is up to embarrassingly high numbers. I’m literally averaging 14 hours a DAY on my phone.
Eventually, we will all find a way to a real estate site, or at least search homes on Instagram. It’s inevitable, kind of like those cookies in your pantry are going to get eaten by the time you’re done reading this article.
Real estate professionals are working tirelessly behind the scenes to keep up their social media presence and to strengthen their strategies. Platforms like YouTube, Zoom, Facebook, Instagram and Twitter are making it easy for sellers to remain connected with prospective buyers.
We are in the fishing business and the most successful agents are the ones that are casting the widest nets.
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The most unconventional aspect of this new age real estate industry is the fact that touring homes is currently impossible, as it should be. I’ve taken a hard stance for ALL OF US to STAY HOME for almost a month. Ironically, people are staying home – as they should be.
Prospective buyers will most likely remain hesitant to buy before they can physically tour a home but we can all pivot and redefine the way we work.
The minute that people are legally allowed to take a physical tour, the market is going to boom. It’s like when the new iPhone comes out. We want and expect lines out the door, just no tents, please.
People will be lined up at the doors of those homes they have obsessed over for months.
In the meantime, real estate professionals are utilizing virtual tours to keep buyers excited, and it is working, and relationships are getting back to the core — the heart.
The market varies from city to city. For example, the Manhattan real estate marketing came to a screeching halt. Sudden halts like this, especially for a big city, are incredibly rare. Historically, it took about a year to recover.
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For the cities that have not yet reached a screeching halt, real estate professionals are placing all of the online strategies into an extra high gear, in order to prevent that from happening.
We are entering what is usually the busiest season of real estate, that usually lasts through the end of the summer. I am confident that the busy season will last through the fall, and possibly through the winter.
Momentum is building, so there is no need to fear putting your home on the market.
Now is our chance to build and maintain confidence in the real estate market, because as soon as our world begins to shift back into normalcy, the market will be at its height.
We’ve all heard this a million times over, but right now, it’s more true than ever — home is where the heart is. You may not love where you currently are, but we know you love who you’re currently with. Get online, shop for your new forever place, and get excited about something that’s going to be there when this nightmare ends.
In the meantime, stay home, technology has us covered.
Rogers Healy is owner and CEO of Rogers Healy and Associates Real Estate and Healy Property Management.