Real Estate 101: What Every Seller Should Know Before Selling Their Property in a Pandemic
During a pandemic education, preparation, collaboration and communication are more critical than ever between sellers and their real estate professionals. While there is no 100% guaranteed safeguard against a virus in a pandemic, there are steps that can be taken to mitigate risks, minimize exposure and still fully market a property allowing a seller to secure the best price and terms in a rapidly changing market.
Sellers that need to sell and buyers that need to buy are making the market in real estate. Lookie loos or casual shoppers are not really in the market because everyone, Realtors included, want to minimize unnecessary exposure to other people unless and until a vaccine or treatment is developed for the COVID19 virus.
Sellers should demand that their Realtors at a minimum have the following information when they list the property for sale. A great Realtor will offer this information as part of their listing consultation before a listing agreement is signed. If your real estate professional is not confident about these five points, at least, beware they may not be educated, experienced or confident enough to manage your listing during a pandemic.
What Every Seller Should Know
1. A Specific Marketing Plan that includes COVID19 best practices
This should be easy because most real estate trade organizations, including the California Association of Realtors and the National Association of Realtors, have already developed guides for modifying marketing. First, open houses are prohibited in many states and all showings must be done by appointment only.This means that your Realtor will be selling your home one person at a time; it is a more tedious and time consuming process and it lacks the environment of excitement that an open house brings.
Therefore, your Realtor has to have a direct marketing plan to agents and target buyers AND they have to have a personality that creates excitement in the showing of your property – they in essence have to create the energy of an open house at every showing. Often this is done with the help of the homeowner in prepping the property for each showing. A smart Realtor will also do showings one after another if possible, to create the energy and to demonstrate that there is more than one interested party in the property.
Ask your Realtor how they will draw buyers into the property – listing it online is a first step but the best Realtors also employ a variety of other tools and actions to garner the attention of the buyers and agents that work in the area.
Virtual open houses should include 3D Matterport scans; social media posts; video (professional and by the agent) and 2D pictures which allow you to show a still and best angled shot of the property. These extra bells and whistle eat into the marketing budget for an agent but they are critical to maximize the market exposure of your property.
Local area specialists or a well-prepared Realtor will be able to screen and direct prospective buyers to added information that may be important to screen the house in or out of consideration. Remember in the quest to lower exposure, a smart Realtor will front load the information on the property; direct prospective buyers to added information like permits, history of the property, early seller disclosures, inspection reports procured by seller, floorplans, aerial photos, neighborhood information etc. The Realtor may also suggest a drive by or a google map visit before scheduling an in-person showing.
Pre-approved and qualified buyers should be the only people entering a property and that is not the time to bring a pet or a child or extra people that are not critical to the decision to purchase.
Facetime or other video chat services can be an excellent way for an agent to “show” a property without exposing the occupants to more than one person unless or until they submit an offer.
2. A Specific Showing Protocol
Many trade associations and government entities have created showing guidelines for Realtors and real estate professionals to follow. For example, in CA in addition to wearing a mask, gloves and in some cases booties; agents or sellers must disinfect frequently touched surfaces between each showing and before and after all showings.
Advisory and Declarative Forms can also be used to determine the health and known exposure of a visitor, seller, tenant or occupant of the property. In California we use a form called the “PEAD” form, short for Coronavirus Property Entry Advisory and Declaration. In this form anyone entering the property must declare they are fever, respiratory condition and COVID19 free as far as they know. The form advises that the risk of COVID19 exposure cannot be absolutely avoided and lay out the procedures that each party to a showing will undertake in order to increase the safety of the showing(s) of the property.
3. Specific Directions for You To Adhere to During the Marketing Timeframe
In the old market, the Realtor really made sure the property was in order for a showing, we would tidy, clean, re-position items, fluff pillows, put away items that were unsightly or unnecessary, open windows, turn on lights and open closets or cupboards that a buyer would want to look into… in our new normal the seller has to undertake many of these steps to avoid someone unnecessarily touching items in the property. The seller should also disinfect frequently touched items and open doors to areas that need to be shown during a preview. Your Realtor should give you explicit instructions on how the property should be left before a showing.
Sellers also have to declare their physical condition and disclosure any COVID19 exposure to prospective buyers and their agents.
4. A Screening Protocol and Response Guidelines
Your Realtor should be able to describe how they will screen prospective buyers before showing your property. This should include preliminary questions, requiring certain documents, interviewing the buyer’s agent and inquiring whether all virtual resources have been exhausted. If a buyer cannot answer or meet the requirements of the protocol your agent should tell you the response they will have in that instance.
5. Weekly Communication and Details regarding all visitors to your property
Realtors should always communicate regularly with the seller but in the new normal it is especially important the seller know when and who is in their property and for what purpose so that they can object in a timely fashion if that is appropriate.
There are many questions that a seller should consider when selecting a trusted real estate professional, this short list covers those things that are particular to a pandemic. Pacific Playa Realty is a leading Los Angeles urban luxury brokerage with expertise in representing buyers and sellers in urban markets. Call (310) 256-3040 or visit our website at PacificPlayaRealty.com for an agent you can trust.
