Since the beginning of the COVID-19 pandemic, many industries have been struggling throughout America. However, none have taken as much of a hit as the real estate industry. The impact of COVID-19 on real estate markets all over the country has been severe, to say the least. Due to safety concerns and lockdown initiatives, fewer buyers have been willing to venture out and find houses and even fewer sellers have listed their properties for sale. As such, the entire real estate industry has been brought to a grinding halt. For these reasons, we’d like to advise that now may not be the best time to consider selling your house.
However, if you’re committed to selling your home during the coronavirus, you may be happy to know that it is still possible. Be that as it may, the traditional home sale process is not quite as easy as it once was. Because of this, you may wish to take a little bit of time out and research before contacting your agent and preparing to find a buyer and these turbulent circumstances. This research should certainly include paying very close attention to some of the difficulties home sellers are facing.
Below, we are going to expand on a few challenges homeowners are facing when selling their houses during the coronavirus. In addition to this, we’ll also show you what you can do to alleviate these difficulties and make your home sale easier. Because let’s face it, forewarned is almost always forearmed!
Top 5 Difficulties Homeowners Are Facing When Selling Their Houses During Coronavirus
Read on to learn the top 5 things you’ll need to know about what it’s really like to sell your house during Coronavirus.
1. Precautions When Selling Your House During Coronavirus
During a pandemic period, both your health and the health of the people around you are the most important factors to be considered. As such, extreme pre and post showing cleaning precautions must be taken. This will mean thorough sanitization of all surfaces from your doors to your cupboards to your countertops (anything else that a buyer might possibly touch, which could be everything). Let’s face it, all the time and extra work involved in disinfecting every surface can become wearisome to sellers. In addition, precautions will not just require you to invest your time, but your money as well when it comes to purchasing large quantities of gloves or buckets of hand sanitiser for use during open house sessions.
You may also find yourself in a position where you have to trust that your buyer, or buyers, will take equal precautions when they visit your home, in order to protect your family. Feeling confident that your family will remain safe is another trouble homeowners are facing when trying to sell their Fridley homes during coronavirus
2. Marketing When Selling Your House During Coronavirus
Due to the fast-paced changes in demand, in the real estate industry, many agents find themselves overwhelmed. If your agent isn’t up to date on today’s technology, he or she lacks the ability to make full use of digital marketing tools that are essential in bringing buyers to your door. Being poorly marketed on the internet can literally be the difference between your home selling or a “For Sale” sign sitting on your front lawn for months on end.
However, If your agent is utilizing all of the technology available, you can be certain that you will be covering all of the expenses in their marketing plan. Homeowners are facing a heavy demand for online virtual tours and technologically savvy marketing when trying to sell their Fridley homes during coronavirus. And the truth of that matter is that, though these methods of advertising are both essential and effective, they are also extremely expensive.
3. Lack of Interest When Selling Your House During Coronavirus
Buyer’s priorities and demands in housing have evolved, along with many other aspects that have been affected by this disease. With the dynamics changing, not only in living arrangements (created by the economic downfall) but in the homeschool revolution that has made more space imperative, many home sellers are finding that their market share is dwindling.
These days, if either one or more of the parents is working from home ( which is often the case during lockdowns), they will require quiet space large open spaces. This is what buyers are beginning to look for these days.
However, due to the previous trend that was downsizing, there are fewer larger homes on the market. Most home sellers still believe that the real estate market in Fridley is still favouring smaller homes. This is a problem many homeowners are now being introduced to when trying to sell their Fridley homes during coronavirus.
4. Cancellations When Selling Your House During Coronavirus
As changes to the rules governing business continue to evolve, it’s imperative to keep on top of the latest developments for your city and state. Some of the difficulties homeowners are facing include multiple delays in closing. As potential buyers face ever-changing challenges which can also cause cancellations, sellers continue to lose deals. Some may even have to start again from scratch when trying to sell their Fridley homes during corona-virus.
5. Stress When Selling Your House During Coronavirus
Last but not least, people are facing high levels of stress. This is understandable since we are all living through a unique time in history. There are many moments to moment changes coming our way, as our government battles to help the country navigate through this trying situation as best as it can.
In most cases, moves are happening due to job loss or hardships from the illness itself, which can be devastating during the best of times. Should there be delays in your home selling, while you are being forced by circumstances to carry out the move, it can mean up to double your usual expenses or more. Not only this, there are all of the health concerns of moving during coronavirus, such as how the movers handle your belongings and having to prep your new property prior to moving your family in. All of this will be required, with no guarantee of a stable closing date. The weight on your shoulders is magnified when trying to sell your Fridley homes during coronavirus.
If you are considering selling your house and would like to forgo all the difficulties and stresses involved with selling on the open market (especially during COVID), reach out to us here at FastPath Home Buyers. We purchase homes throughout Fridley and would be happy to give you a fair all-cash offer for your house.
FastPath Home Buyers can help you avoid the pitfalls of possible exposure, a poorly marketed property, buyers continual cancellations, or even a potential lack of interest in your home. Put simply, with our company, there is no need to be concerned about coronavirus any longer. We will handle everything for you! Simply fill out the short form below or call us at (612) 351-2384, and we’ll get back to you with a competitive all-cash offer for your house that you’ll be able to close on in less than 7 days.