Buying and Selling in a Virtual Marketplace

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Market Trends

How to Navigate a Virtual Real Estate Market

As we begin to settle in to a "new normal" in both our personal and work lives, it appears the world has gone more digital than ever. With schooling, work meetings, birthday parties and friend gatherings now taking place on Zoom, it's no surprise that we've found a way to stay connected even though we are staying apart. And while change is still an ever-present factor in our current situation, there's some new evidence that points to a change in behavior most of us weren't expecting when it comes to real estate.

A recent survey from Realtor.com reported that 24% of 1,300 consumers surveyed said they'd be willing to buy a home without seeing it in person. Further, 21% say that COVID-19 has made them more likely to move into a home sight unseen in the future. This data follows on the heels of findings this week from the National Association of REALTORS that a quarter of REALTORS and their clients have put a contract on a home without physically seeing the property.

Now more than ever, technology is playing a vital role in both our daily lives and the real estate industry. For buyers and sellers wondering if now is a good time to invest in the market, the answer is still yes even if the process may look a little different for the time being. 

What to Ask and Expect During a Virtual Showing

Having the right access to technology features that make a home more accessible are more important than ever. Offering virtual tours, and property showings via video chat are imperative to finding success in this market.

If you’re touring a home virtually, you aren’t physically there, so you aren’t going to be able use all your senses. That’s why you need to make sure you’re asking questions that are going to give you an idea of the area the home is in until you can go see it for yourself.

· What kind of smells are you smelling inside and outside the home? Maybe there is a restaurant nearby or a factory of some kind.
· What can you hear nearby? Are there train tracks in the area or a hospital down the street? These things affect the ambiance of the neighborhood, which you won’t necessarily get to see for yourself.
· Are the appliances or other features outdated? A fresh coat of paint can cover most things, so asking about the condition of the cabinets or appliances can help you get a better idea of whether or not you’ll have to invest in some renovations in the future.

When you decide to enter the virtual housing market, it’s important that you work with a realtor that is an expert in the neighborhood and area you are searching in. An expert like Rosemary Hieber will be able to answer your questions about the area your home is in including things like the school districts, recreational areas, local shopping and other amenities. When you’re touring a home virtually, this is a huge asset, especially if you’re not familiar with Orange County or the area you’re moving to.

Ultimately, house hunting in a virtual marketplace means you need to be more diligent in your research and the questions you ask. Things are a little unconventional in the housing market right now as far as buying and selling goes since we aren’t showing homes in the traditional sense, but that doesn’t mean that you should put your house hunting on hold.

On the other hand, if you’re selling in this market, it’s equally as important to navigate the technological needs of buyers. This includes virtual tours, accurate and detailed listing information and neighborhood information, high quality photos and more. In both equations, you’re going to need a professional real estate agent who's on the cutting edge of implementing these dynamic marketing materials and spearheading the technology needed to capture this digital audience.

Work with an Experienced Professional

Do you have questions about the current housing market? Ask the real estate expert, Rosemary Hieber. Named One of America’s Top 100 Real Estate Agents, with more than $275 Million Sold Locally, Rosemary has 20 Years of Experience Serving Ladera Ranch and is the #1 Coldwell Banker Agent in Ladera Ranch. It’s important to have a strong team in place when you’re searching for a home in these diverse times and peace of mind is just a call, or text, away. Call or text Rosemary today at 949-285-3215 to have all your real estate questions answered!

ROSEMARY HIEBER

ROSEMARY HIEBER

275 Million Sold!
Work with the Best
MBA, Broker Associate
Coldwell Banker Residential Brokerage
M: 949.285.3215