Despite the COVID-19 economic recession, the US housing market continues to perform well. Low interest rates are creating high buyer demand, and in many markets, inventory is so low that this buyer demand is driving home prices up. An article in The Economist points out that even high-value local markets like the Bay Area are seeing value increases due to these factors!
If you have much equity in your property, now may be a great time to cash in by selling. But to get top dollar, you may want to cater specifically to the COVID-era buyers. Here are three tips to help you successfully sell a home during a pandemic.
1. Highlight Pandemic-Friendly Features
With so many of us spending more time at home than normal during Governor Newsom’s Stay-at-Home Orders, our criteria for choosing a home have changed slightly. With each home tour, today’s buyers are asking themselves what it would be like to be quarantined in the home for months at a time.
They are interested in pandemic-friendly features like:
Ample living space
Some outdoor space
Designated home offices
You can appeal to today’s buyers by showing off your space. Move extra furniture out of the home so it doesn’t appear over-crowded and small. And remove everything except necessities from the home’s closets and cabinets. You want buyers to feel that there’s enough storage space for all their extra toilet paper, hand sanitizer, and canned goods.
You can highlight outdoor areas by staging a sitting or dining space on patios and balconies. You may even want to stage a room as a home office to help buyers imagine working from home.
It may cost a little money upfront to stage a few rooms and rent a temporary storage unit for those items that don’t help your house show at its best. But your house will likely sell faster and for more money when you take the time to properly highlight these pandemic-friendly features.
2. Get Virtual
While buyers are currently allowed to physically tour homes despite the Stay-at-Home Orders, many buyers are limiting the number of homes they view in-person to limit their exposure to the virus. They’re making their decisions on which homes to see based on the online presence of the listings.
Professional listing photos, videos, and even virtual tours of homes help to attract more buyers and sell the home more quickly. A good real estate agent has a network of contacts who can take care of all of this for you. When you list with us, your home will be photographed and recorded to create virtual tours that can be syndicated to dozens of websites and social media profiles.
3. Price It Right
Pricing is always the most important factor in getting your home sold quickly. Any imperfection can be overcome simply by altering the price.
But with prices in the Bay Area changing so quickly, it can be difficult to know what the “right” listing price is. Your listing price depends on the most recent sales of properties comparable to your own. There are many variables involved in calculating the fair market value of a home, so we proudly offer free, no-obligation consultations to help you determine the correct listing price. Simply contact us today, and we’ll get started on a custom analysis for your home.
With a real estate agent in your corner to help you highlight those pandemic-friendly features, get virtual tours of your property all over the internet, and price your home correctly, you won’t have any trouble selling your home during a pandemic.