Here we are! The much anticipated Spring of 2021! I, for one did not anticipate that we would be in another lock-down with schools closed for the fourth time since the pandemic started.
Or, that the Real Estate market would have experienced the intensity and complication that it has thus far. It is the same as last year, but also very different.
The Buying process has changed more than I have seen since starting my Real Estate Company in 2010. It was a strong Buyer’s market then, and homes would be listed for 120 days or more in some of our markets. We had to be VERY strategic on getting lots of eyes on the homes and Buyers had their pick. I remember spending full days looking at homes with clients and they would all start to blend together. We had clipboards for notes, snacks, and stops along the way. The process was exciting and gratifying and much more relaxed. We had time to make decisions and we could really analyze and negotiate for our Buyers in a way that felt they were getting the best home for them and their families. It continued like this for quite a few years and it is very hard to imagine that it would ever go back to that now.
When I am helping clients purchase now, things are sooooo different. Many of them have purchased and sold with me in the past and the conversations are very different. Of course, they have seen the news and there are many opinions shared on social media but that can be over-sensationalized and often needs a great deal of explanation and sifting so it is applicable to your own micro-market.
The role that technology has played in this market is one of the biggest changes I have seen. With the introduction of everything being shared on social media and with most buyers checking there first, they tend to become inundated with information and sorting through all of it with them is the biggest adjustment I have seen.
Then, we saw the introduction of DDF where you could find any listing online, not just the ones listed with your Realtor or what your Realtor was sending you. Then came electronic signatures and most recently, virtual showings and appointments. We have always provided virtual services for many clients but this now the norm and there can be some questions that arise and situations that need to be presented. In person showings are often very quick with Covid restrictions and recording the showings from sellers is now more common than ever. Buyers are not always prepared for how these things may impact their experience and the best way to navigate the processes of buying including home inspections, dive-by appraisals and virtual open houses.
Efficiency and fast-paced decision making is now the norm for Buyers. Understandably, this can be overwhelming at least, and terrifying at worse. This is one of the largest investments of your life and strategy is more important now than it ever was. What should I offer? What happens if there is something wrong with the home? How do I make my offer more competitive? Am I best to wait until things cool off? Or, will things ever cool off?
The information and systems that we provide as your Realtor during your personal consultation, gives you back your power as a Buyer. We are consistently striving to raise the bar in education and service for our clients to help guide them on the best decision for their new home, whether it is as soon as possible or even in the future.
You can connect with us here to book a consultation.