Real Estate Lessons to Know for 2021

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2020 was a year that no one saw coming. 2020 brought an abundance of challenges to many different parts of life. Businesses of all types had to figure out a way to still thrive in order to serve their customers.

The real estate world was not any different. Real estate firms and agents of all kinds had to come together to figure out a way to still let their customers buy and sell through them. This was not an easy task to do but it provided the real estate world with must haves in order to survive: pandemic or not.

According to an article about the biggest lessons learned in 2020 for the real estate world from Keeping Current Matters, staying updated on what is happening on the market is essential. Of course, agents must stay on the top of their game at all times in order to successfully work with a client to either buy a home or sell a home but, 2020 taught us that things could change at a moment’s notice on a day-to-day basis. Being able to talk with your clients about what is going on or what will happen is an important part of the transaction.  

Because of this pandemic, people are coming to conclusions about where they live. The urban to suburban shift has sent shockwaves through the real estate market. As in person work turned to virtual, some of the urban population realized they might need more space to do their work or even lower density areas. People also have had the option to work from anywhere they like, outside of larger cities, because of this shift to remote work. Some people might have only been living in a city due to their job but now with the ability to work from home, they have had the opportunity to move to a different area, outside of the city. 

With being in your home day in and day out, some have come to realize that they need a change. Whether it be new furniture, a remodel, or a new home all together, being in your home all day every day makes you realize how important your living space is. Change is good, especially when you see the same things every day. Changing your living space may be as simple as replacing an end table, remodeling your bathroom, or moving to a bigger/smaller house but changing something will leave you feeling better than before.

Although we all were in quarantine and trying to stay home as much as possible, the housing market did not slow down or come to a halt. The low mortgage rates combined with the best housing market ensured that the inventory did not run out. People were still selling and buying, even though it looks a bit different. In-person walk throughs turned into Facetime calls with your agent. Above all else, agents showed their true passion for real estate to their customers when they needed it the most. 

2020 truly had an impact on the real estate market as with everything else. 2020 taught us that as long as you try your hardest to make things work, you will come out the other side.

 

Virtual Home-Buying: Do’s and Don’ts of Sight Unseen Purchases

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The pandemic changed all ways of life in the last year, including how homes are toured and bought.

Real estate changed in all kinds of ways. People were buying homes without ever stepping foot in the door until it was all theirs. Yes, this seems absolutely crazy pre pandemic, but this seems to be the new normal.

The only sight that they had of the home would be pictures and a possible virtual tour online. All of the paperwork was done using a digital signing website like DocuSign and all conversations were had over the phone or possibly zoom.

You could possibly enter your sight unseen home after buying with no problems at all or you could walk into a whole house full of issues.

Ask Questions

The process of buying a home virtually instead of in person is a lot more meticulous. More questions have to be asked and answered, even the most basic questions because you may not be able to see for yourself if there is a specific feature or possible issue in the home. If questions are not asked, you may walk into your new home to unexpectedly find problems that were not discussed.

Use Technology to the Fullest

When looking for and buying a home strictly virtual and online, technology is your best friend in this process.

With the times we are currently in utilizing features on your phone or laptop will go a long way. Corresponding over email or texts will not get you very far when you need to actually see the space.

People may not be able to fully tour their new or prospective home so virtual tours online using a specific platform or even Facetime tours with your agent, will help smooth the process. It may seem silly to jump on a video call with your agent to see your space over the phone, but it could give you a more personal feel to the whole process than just seeing it in pictures.

Hire a Great Real Estate Agent

To ensure you are getting the right and best information about a property and the surrounding area, hire a great local real estate agent.

Your agent is your eyes and ears with this whole process. Making sure you have the right person for you and for what you are looking for, do some research into real estate agents around the area and look at what they specialize in and client reviews.

Getting an Appraisal and a Home Inspection

According to an article on Realtor.com, calling in experts when buying a home sight unseen is extremely necessary. When you cannot tour the home yourself, bringing in an expert to tell you just how many repairs need to be done is important. You do not want to buy the home and walk into a house that desperately needs repairs. Trust your gut and hire someone to take a walk through the house to see what needs to be done and what doesn’t.

Buying a house sight unseen may seem difficult but when you take time and do the right steps, the process will go a lot smoother than expected.

Sources:

https://www.realtor.com/advice/buy/avoid-these-mistakes-when-buying-a-home-sight-unseen/