Historically, Spring is the busiest home-buying season in America. The beginning of 2020 hinted at strong sales and growth in the real estate industry. However, in the light of the COVID-19 pandemic, the buyer traffic has almost completely dried up for now. Both international and US real estate markets witnessed a 50%-70% drop in new listings, highlighting the consequences of the strict lockdowns across the world, according to data published by Mike Delprete. Cash strapped Americans are willing to sell their homes but for now, it seems that they’ll need to wait.
But, while you are homebound, why not use the time on some home improvement and marketing to improve your chances of a good deal once the states open up once again? Here’s how to prepare your home for sale once the lockdowns and social distancing norms are lifted.
Spread the Word
With the support of property managers, spread the word about your home for sale. They will help you reach the maximum number of prospective buyers once the pandemic is over. With professionals by your side, the turnaround time for property sale will be much lower. Make use of home listings online, since it is the best way to improve chances of a sale. You will receive quality views on your home listing from buyers, which will ultimately convert into a deal.
Maintain the Property
To capture the attention of buyers, add some new and exciting touches to the property. It does not take much to mow the front lawn, repair dripping taps, scrub the floors and take care of the fixtures. If you have enough funds, you could also apply a fresh coat of paint. Clean all the cobwebs and get rid of the clutter, so that you can put up inviting photographs of your home when you list it online.
Use Social Media
While in quarantine, consider posting about your home for sale on social media to spread the word. The screen time of Americans has significantly increased while they are forced to stay indoors. This is the right time to spread the word through Facebook, Twitter, Instagram and WhatsApp. You can also make use of YouTube and give a walkthrough of your home. Many people at present are using social media to stay connected with the outside. When used right, it could drive lots of potential buyers to your home.
When a potential buyer approaches, be well equipped with all the documents they will want to check. This includes the property tax receipts, clear title deed and general power of attorney certificate. Non-ambiguous ownership can help you get a better price, since a sense of professionalism is reflected.
People today are very conscious of the environment and climate change, which is why Millennials prefer green homes, according to a survey by Deloitte. To emphasize on the idea of clean power, make use of smart meters and LEDs. Additionally, make sure the house is getting ample natural light. If the property is already well ventilated, you wouldn’t have to spend anything at all. If not, consider inexpensive ways, like adding mirrors or removing heavy curtains. If you can afford skylights, they are extremely useful as well.
It is always desirable to have an upper hand in terms of the pricing. But to get your property sold after the lockdown, respect the choices and conditions of the buyers as well. For example, if they want an unfurnished house and do not want to pay for the furniture, let them have their way. Try not to be too rigid but also be smart by negotiating. Hiring a real estate agent to help you with this can be a good idea. Ensure to fix a minimum price, below which the property cannot be sold.
The world is unsure of how long the Coronavirus outbreak will last. However, taking the correct measures now can make life better once these dark times are over.