Thinking of selling your home during the Covid-19 pandemic? There are a few things you need to know before you make the jump. As of right now, the COVID-19 situation in Victoria and British Columbia is rapidly evolving, with more and more cases appearing as testing capacity grows. Both the virus itself and the measures we are adopting to try and flatten the curve have had an impact on just about every aspect of daily life.
Selling your home is no different. So, keeping this in mind, here’s how you and your top Victoria, real estate agent should be approaching the situation at this current time.
Find smart ways to work within the current limits: Self-isolation is the best option we have right now in regards to flattening the curve to minimize the virus’s impact on our healthcare system. You don’t want to ignore those rules when it comes to a house sale, but that doesn’t mean all your plans have to be on hold either. Make sure you and your Victoria realtor have plans for phone or video chats so you can have important discussions, without needing to meet in person. You can even make some headway with buyers. Virtual tours are already popular to help buyers look at homes far away, and they are arguably even more useful now.
Be patient/reasonable: A lot of life transitions or plans may be getting put on hold in the name of public health when it comes to COVID-19. The same applies to a new house. A lot of buyers who were prospects before may get cold feet now because they’re not sure about their financial situation or don’t want to make any long trips. As a result, if your listing isn’t getting a lot of activity, be patient, but you don’t need to let the grass grow under your feet. You can try and adjust your listing/strategy to be better able to showcase your house remotely.
Keep your eye on the housing market: As of right now, even experts don’t have a concrete idea of when the pandemic will subside, and when we’ll see some semblance of normal life again. Depending on the impact on the economy, the housing market may be very different afterward. Make sure you are pricing your home to an amount that keeps this in mind, so you’re not pricing out a lot of potential prospects. In some cases, it may make sense to delay your home sale until house prices rise up again, if possible.
For those that don’t have the luxury of waiting to sell their home, there’s a lot of uncertainty about the market right now. While there’s no one out there with experience about selling a home in a pandemic, you do want the best real estate agent who’s well-versed in all the other aspects of home sales so you can focus on the unknowns. Be sure that you have the best realtor in Victoria, BC, to work things out for you. Luckily, we have just the person in mind! Contact our team today to find out how we can help!