For Sale signs are popping up everywhere! It’s the spring market after all. Is real estate back to normal? Hardly! There are no Open Houses or Broker Tours. The days of the “lookey-loo,” that curious, not-serious buyer are over for a while. They can’t drop into Sunday open houses and look around at their neighbor’s property. This is a time for motivated and serious buyers.
Real estate agents have been encouraged to do everything virtually. Obviously, this can be challenging. Agents are providing options for that virtual tour experience. There are Matterport 3D tours by some, tours with professional photos by others and some agents walk inside with a handheld camera and describe to the viewer the various rooms and amenities of the home.
With the guidelines handed down by the realtor associations and Cal/OSHA, viewing a property has also changed. All showings are now by appointment. Before entering, a buyer, inspector, appraiser or anyone who enters must sign a Coronavirus Property Entry Advisory and Declaration (known as PEAD) form verifying that they are currently not ill with the coronavirus. Per the form, they must agree to wash their hands and wear a mask, gloves and shoe coverings. A maximum of 2 people residing within the same household plus one person showing the property may enter at any time. Social distancing must be maintained at all times. The form pictured above is to be attached to the front door of all Compass listings.
Things are not exactly back to normal but definitely back to a new normal. Buyers are coming out of hibernation with interest rates at historical lows and with more listings coming on the market. Will the summer market be our spring market this year? I guess we’ll see. If you or your friends need help navigating this new normal market as a buyer or seller, please don’t hesitate to contact me!