These are challenging times, and our hearts go out to everyone who has been affected by the coronavirus pandemic. To all of our past clients, please know we're here for you. We'll be checking in with you to see how you're doing, and we encourage you to reach out to us whenever you need someone to talk to. We'd love to hear from you.
We also want you to know we're working very hard right now to assist all of our clients who need to sell their home, as we incorporate social distancing into the home-selling process. Here are a few examples from the last week that show how we're working creatively and getting our listings under contract in our new era of social distancing.
Seller success stories during coronavirus/COVID-19
Our sellers on the east side of Madison just received two offers on their home without any buyers setting foot in their house. The winning offer was contingent upon a buyer walk-through of the property, which took place right after acceptance. The walk-through went very well, and the offer is moving forward.
Our clients on the west side of Madison also accepted a great offer from buyers who never set foot in their home. In a nice example of creativity and teamwork, the sellers led the buyers through a FaceTime walk-through of the property. The buyers greatly appreciated this very personal approach and followed it up by writing a very strong offer. Our clients were elated to receive 4 great offers for their home.
Another west side seller just moved out of her home, and we listed her property right after she moved out of her house. This listing received 7 offers in two days. Our seller was glad to be in her new home before showings began, and now she has peace of mind knowing that her listing is under contract with a solid and very motivated buyer.
Today, another seller is getting ready to accept an offer after receiving multiple offers for her east side property. All showings have been virtual up to this point. The winning offer will be contingent upon the buyer's walk-through after acceptance. For this listing, the seller took video clips of her property with her iPhone. Tracy Kapela from our marketing team used the raw video clips to create a virtual tour of the home. This isn't our preferred approach for a virtual tour, but it's a great example of how a little creativity and collaboration can go a long way as we practice social distancing.
What we're learning about buyers in this market
Buyer demand is lower than it otherwise would be during this time of year, but there are plenty of people in the market right now who are extremely motivated to find and buy the right home. For some buyers, their lease will be up soon and they have decided that now is the time to pursue their dream of owning their first home. Other buyers have growing families or a baby on the way and they need a new home for the next stage of life. And others, who are later in life, need to downsize and find the right home that will accommodate their needs as they grow older. And then there are others who feel that a home offers the safety and security they need during this time of uncertainty. The bottom line is many buyers are moving forward with their lives and not putting their plans on hold - even though we're in the midst of a pandemic.
We're also learning that buyers as a whole are quickly becoming much more comfortable with virtual showings. They're committed to buying right now, and they're committed to doing it in a way that respects social distancing.
Stay tuned for more real-time updates on our blog
We'll be sharing our observations on the Madison area real estate market a few times each week, so check in often with our blog. Very soon we'll be sharing with you how our buyer clients are moving forward with their goals in this new era of social distancing. In the meantime, please reach out to us anytime you have questions about buying, selling, or anything else related to our fast-changing market. We're here to serve and ready to help.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred