Real Estate: Selling a home during the pandemic

By Richie Vraux

Over the years there has been a lot said about when to list and sell your home. Should I wait till the spring when everything is coming into full bloom, when the leaves fill the trees and the fres- cut grass is manicured and cut to look it’s best. Yes, there is a lot to be said about the spring and summer months being the best time, but buyers have numerous reasons why they don’t want to wait till then.   

This year has brought us lots of surprises that nobody expected, the Covid 19 virus appeared just after the new year and has changed all of our lives forever. Maine has become a state that everyone has wanted to flock to start their new homes.

Everyone wants to get out of the hustle and bustle of city life and the high risk of contracting this dreaded virus. The out-of-towners have found our state their new oasis. Today most businesses have shifted their workplace to an at home office and where they have lots of open space and fresh air, so they can take advantage of our beautiful landscapes and are willing to pay higher than asking price to do so.

Some helpful tips:

1.   Don't Panic. Whether you were planning to sell your home before the pandemic or if you're now selling your home due to its impact, don't panic. Selling your home is perhaps the largest financial transactions you'll make; measured, rational, and responsible decisions will help you make your sale successful.

2.   Use the Internet to Your Advantage. Many prospective buyers are conducting their search online before seeing a home in person. Invest in high-quality photography and videography to
show your home online. 

3.   Use Virtual Services When Possible. Not only should you swap an in-person open house for a virtual open house, but you should also take advantage of other services offered contact-free. Professional stagers, organizers, landscapers, and other services offer advice through video chats. This keeps everyone safer yet still allows you to create a presentable home to show potential buyers.

4.   Maximize Transitional Space. The coronavirus has turned our homes into schools, offices, and entertainment centers, identifying the need for many homeowners to have extra space that they can dedicate to their evolving needs. Highlight how well your home can accommodate these new requirements by transforming unused space into home offices, study centers for students, gyms, or private relaxation spaces.

5.   Opt for Virtual Transactions When Possible. Thankfully, technology has made it easier than ever for real estate agents to tackle coronavirus challenges swiftly. Virtual calling, email, and e-signing have made it convenient for buyers and sellers to conduct the majority of their transactions contact-free. I can prioritize a contact-free transaction whenever possible to help keep everyone healthy.

6.   Anticipate Hiccups. Delays during a real estate transaction are common, and the pandemic's challenges have made these instances arise with more frequency. From inspections and appraisals to postponed transactions due to unforeseen issues, you should be prepared for a delay at any point in the process. Let's discuss what options are available to conduct a fast closing.

7.   Trust Your Agent. Although we've all never lived through a pandemic before, my career has given me the knowledge and experience to read the market with a close eye and work hard to get you a successful sale that accomplishes your real estate goals.

With the advent of a newly elected president in the White House and vaccine to hopefully rid the world from taking our loved ones way too early, we all surely need the cure and some calm back in our lives to take us beyond this pandemic. I wish I could predict our future, but experts state that although the real estate market is now stronger than ever, It’s hard to say what our future real estate market will bring.

So if you are contemplating selling, list it now. At least we all know what to expect for the near future, but who knows what the market will bear six months from now.

Richie Vraux is a Real Estate Broker with Maine’s Premier Team at Better Homes and Gardens –The Masiello Group. If you are looking for professional advice regarding buying or selling, feel free to contact Richie at 207-317-1297. <