As Ohio gradually begins to reopen, you might be wondering how these upcoming changes will affect the local real estate industry. While it’s impossible to predict the future, we do have some good news for you: it’s now easier than ever virtually buy or sell your home!
What You Need to Know Before You Virtually Buy or Sell
Although Ohio’s reopening plan remains unclear, the Columbus area real estate market is still surprisingly strong. If you’re thinking about entering the market soon, we have a few tips that can help you navigate the new world of virtual home buying and selling.
For buyers: Expect high prices, low interest rates, and more virtual tours
It’s been a difficult few months for Columbus area home buyers, especially as prices continue to rise. Low inventory and pent up demand have only strengthened our area’s seller’s market, and many homes go under contract in just a few hours.
Although it might seem impossible to keep up with such a competitive market, we are seeing a few positive changes that benefit buyers. As of late May, mortgage rates have reached an all-time low. In fact, some lenders are offering rates below 3%! This can save you thousands over the lifespan of your loan, so now is the time to take advantage of these fantastic rates.
If you’re having some trouble finding the perfect home, try exploring some listings with virtual tours. Since in-person tours will remain limited for the foreseeable future, digital showings are the best way to get a feel for a home. Some agents even offer video tours via platforms like Zoom and FaceTime, so you can “walk” though a house and ask questions.
For sellers: Work with a great agent and take advantage of digital marketing
It’s no secret that the Columbus housing market is geared towards sellers—and the ongoing pandemic hasn’t changed that. However, the way we list, market, and sell houses is definitely not the same as it was a few months ago! That means it’s still important to work with a great agent that can take advantage of the latest digital marketing techniques, like virtual tours, video showings, and social media promotion.
Your agent should be able to craft a fully-immersive virtual tour that can help buyers explore your space from the comfort of their couch. For a more personalized experience, try offering video tours or virtual open houses. You can even livestream these events on social media to attract a broader audience.
If you do choose to allow in-person showings, there are a few precautions you need to take. Be sure to sanitize all surfaces, turn on the lights, and open every door before buyers come inside. You can also offer masks, gloves, protective booties, and hand sanitizer at the door to limit the spread of germs.
Ready to Make a Move?
If you want to learn more about virtually buying or selling your home, my team and I are here to help. We have the resources you need to find your perfect place or get top dollar for your Columbus area home. Just give us a call to get started today!