| Pros & Cons of Selling During Coronavirus
Although we may be in for a bumpy ride, using history as a guide, we will come out the other side, and life goes on.
The real estate industry has quickly adapted and adopted virtual technology to transact real estate during the pandemic. While we have current restrictions, most real estate activity will take place online. Some of the technologies your real estate agent is using to successfully sell your home include video conferencing like Zoom, virtual appraisals, 3D online virtual tours, live viewings using online video, online auctions, digital floor plans, and electronically signed documents. Depending on the conditions, you may still be able to request one-on-one appointments with your agent.
Pros of Selling Now
• There is less competition, with fewer homes on the market.
• There are buyers who have just sold and really need to purchase.
• There are buyers who have been looking for a long time and need to purchase a home.
• Only qualified buyers get to inspect your home.
• Real estate is less volatile than the share market at the moment, making it an attractive investment option for smart money.
Cons of Selling Now
• There is a lot of uncertainty.
• There are fewer buyers in the market, although the buyers that are in the market are serious about buying.
• There are obvious restrictions on inspections.
• Both buyers and sellers need to adapt to doing many things in the online environment.
It’s important to weigh up your financial position and rationally consider the pros and cons of selling now. Have an open conversation with your real estate agent about the best way forward, as people still need to buy and sell properties even during these uncertain times.
Disclaimer: Although all care is taken. We do not give any warranty whatsoever to the accuracy of any content. This is not meant to be financial or professional advice and is only of general nature. You must seek professional advice before taking any actions. The above information comes with no warranties whatsoever. We take no responsibility for any actions you may or may not take. All content is of general nature only and is NOT to be taken as advice whatsoever