Current changes to home buying/selling methods gain in acceptance
In the past few blogs, we've outlined how well the real estate industry is adapting to a much heavier reliance on information technology in the current situation.
Part of this process includes a much heavier reliance on online methods of viewing a home, in terms of websites and virtual tours etc.
With e-signing of documents now even more to the fore, it's entirely possibly to identify a home, check it out online and complete the sale without ever having visited the property.
Clearly this won't suit every buyer, but we were intrigued to read an article yesterday by Housing Wire that compiled some interesting statistics to show that more home shoppers are willing to buy without seeing the property first.
The article mentioned a recent Realtor.com survey that claimed about a quarter of shoppers will buy a home without even stepping in it.
It also reflected on a report in March by Redfin of a 94-fold increase in video chat tour requests and Zillow's claim of a 191% increase in the creation of 3D home tours.
Interestingly, Housing Wire says that the Realtor.com survey also noted that 68% of buyers said that their plans to move, or not to move, had not been changed by the pandemic.
With real estate now operating as an essential service in California, closed sales are very much continuing all over the state and here in Coronado. Following guidelines and best safety practices inevitably means that there have been some changes to normal selling procedures and sellers can derive more comfort from the clear willingness of many buyers to adapt.
Obviously we're all looking forward to a time when the restrictions are lifted and we can all return to normal lives, once it's safe to do so. It will be interesting to see how online innovations continue to have a growing positive influence on home sales in future.
Please don't hesitate to contact us at 619-886-0175 if you'd like to discuss how we are working effectively and safely for our clients at the moment.