How the coronavirus pandemic continues to impact the real estate industry
The coronavirus pandemic continues to impact the real estate industry. Everything, from brokerage operations to how listings are being marketed and the ability to close transactions, is requiring REALTORS® to adapt to these extraordinary circumstances.
Open houses and showings are not occurring throughout a majority of North Texas, but that isn’t stopping people who are looking to buy. As proven in the past, homebuyers are a resilient group and with the help of their REALTORS® they are using a little bit different procedure to get to closing.
Sellers might choose to hold off before putting their homes on the market, but those who cannot wait will list now and use alternatives to show their homes. While the shift is certainly different, the future may not be as bleak as some expect.
Can houses be shown during the pandemic? Many agents are offering marketing alternatives such as virtual tours, or taking additional photographs to add to the listing. Buyers have purchased properties “sight unseen” for a variety of reasons long before this pandemic. Virtual, online video tours are tried-and-true alternatives to in-person showings.
Are real estate closings still happening? Title companies are open and are busier than ever. Many of them are instituting social-distancing measures, like drive thru closings, and work-at-home measures for staff.
While it is definitely not business as usual, if you are in the market to buy, sell, rent or lease, your opportunities may not be as limited as you think. Find your MetroTex REALTOR® at DFWRealEstate.com.