Real Estate Insights
The coronavirus has changed the way we live our daily lives and has wiped out countless business sectors, including the property market. Brokers, buyers and sellers fight powerfully to do business. Open houses, or at least circumscribed, are being phased out; Brokers are touring the properties through FaceTime for interested clients. And, in the suburbs, they struggle to find short-term rentals.
Visiting restrictions have now been set with frequency and duration limits, from pre-registration required to complete bans on some properties. Prospective buyers should be prepared to trade their shoes for booties before starting to count the closets and keep their hands (sanitized).
New requirements include a minimal handwash stop, a generous flow of hand sanitizer. In some cases, shoppers are asked to leave their shoes at the door and put on booties. And they are often discouraged from touching kitchen and bathroom fixtures.
But, COVID-19 has created some uncertainty. it will undoubtedly push the main buying and selling season into “unknown waters” although an optimistic outlook is perceived about the market’s ability to resist.
The only thing real estate professionals trust is that the real estate market will resist this event as the market is resilient, with consumer confidence as the driving force.