14 Oct The Bibel Team: Is It a Good Time to Sell?
Eric: Hey everyone. Eric Bibel with the Bibel team at NEO Home Loans. And today I’m here to talk to you about, is now still a good time to sell your home?
If you like the content that you’re seeing here, we would love for you to like subscribe, share. This enables us to continue to help convey our message outwards. So we’re still getting a tremendous amount of questions from past clients in that is now still a good time to sell. And the answer is absolutely. Not only have we experienced tremendous appreciation over the last few years, and really the last year or two but demand is still incredibly high. And the lack of inventory, available supply, is drastically depressed. So you as a potential home seller, you are in an advantage to be in a position to really butt up against simple supply and demand factors. There is high, high, high demand, and very, very low supply.
So, why is it really still a great time to sell? And there’s a lot of fear out in the market surrounding the pandemic. COVID is still a very real thing and people are still getting very, very sick. So with that, sellers, one of their main concerns is having random people come through the home and what that potential exposure means to them. So over the last 18 months, there’s been a tremendous evolution in both technology and safety protocols to ensure you the seller that one, you maximize your opportunity, but two, in that same order you’re protecting yourself and your family. So what we’ve seen progress through the pandemic is really five key points. And those five key points have really helped sellers position themselves to one maximize exposure, but two, maximize their price. And what we’re seeing is kind of an evolution of tech leveraging technology to enable the seller to achieve those two goals.
The first one is the ability to electronically sign a lot of the pertinent documents through both a buy transaction, as well as the selling transaction. There is an abundance of paperwork I’m not trying to scare you. It’s just the reality of real estate. Paperwork is inevitable. But with that in previous times, all those documents, you had to meet with an individual and go through and sign. In today’s social distance environment, that can be incredibly overwhelming. So with technology, the ability to take that information and sign in the comfort of your own home is incredibly beneficial.
Another key point here is the expansion of the local MLS–multiple listing services–and those similar platforms to broaden the reach of your property. So the Zillows, the Redfins, realtor.com, really maximizing your exposure. In our previous life, there would be homes that would hit the market and a potential buyer would have to drive around with a realtor and go look at open houses, really limiting the number of properties that one can view in a day. Those technologies have always been here, but we’ve seen a significant advancement in the ability to look at properties from a potential buyer in the comfort of your own home, on your couch, really. So, expanding the marketing presence has put a seller in a greater position to essentially leverage with a compressed environment. So, you can push your property out to multiple people, I mean hundreds of thousands of people, without physically having those people have to come through your home.
So that dovetails into the third point, social media. Social media has always been a propellant in both the buy and sell transaction. But what we’ve seen over the last now 18 months is that social media has become even more influential. As I was saying about the MLS feed, being able to push your message out or the home potential home out to multiple prospective buyers, social media helps put that in a more live time environment. Facebook lives, Instagram lives being able to now take your phone, and your realtor, and view the property in live time. So really giving the potential buyer a live feel, not staged Photoshop photos that you typically see online, but a real live interpretation of the property with high definition. Social media now allows you to convey that message in 4k. So being able to see that in live time, we’ve seen significant push and advancement in just again, broadening the exposure of getting your home in front of more potential qualified buyers.
That brings me to my fourth point, the advancements in the lockbox technology. And what I mean by lockboxes is, you as a potential homeowner or a potential seller have to be able to grant access to a prospective buyer. Before, you really would have to meet their exchange keys and allow someone to come in. Well, now there’s been significant advancements in the lockbox technology. If anyone stayed at an Airbnb, typically you’re not met by the host. There’s a key code that you would put in and you can tailor those key codes to however many people need to have that key code and you can turn them off as needed. The advancements in lockbox technology have enabled you or your realtor to really control the individuals that now come and view the home. So really avoiding looky-loos, avoiding people that are just out like, hey let’s go look at a house, we could potentially get some ideas for our own, but really compressing that ability to enter the home to only those who you want to enter the home.
And the last piece, and this really just ties it together and back to the social media piece but more on an individual tactic, is the ability to video conference. We’ve all become pros at Zoom pros at Teams. Well, it has really revolutionized the way the home buying experience and home selling experience has gone with the ability to communicate through video, but in live time. So again, having your realtor at the property in real time, like as I’ve seen in social media. But you can say hey, I want to see that closet. Can you open it up? Show me the floor, show me the ceilings. Oh, can you open up the oven? I want to look inside without physically having to be there. So the ability to experience the property, again, from the comfort of your own home.
Another key point that I want to make sure that I touch on. And again, as a potential seller, a lot of the concern about putting your home on the market is around fear of contracting potential sickness. Again, COVID is a very real thing. And we’re seeing advancements daily about people getting sick, how it’s contacted, the exposure rate. So what the real estate industry has had to adapt to is guidance around the CDC and how they allow people into the home. The number of people allowed into the home at any given time, cleaning measures, safety protocols, temperature checks, face coverings. Whether you agree with it or not, it’s safe to know that there are specific measures that have been put in place to ensure you as a seller whatever level of comfort you need to feel to allow people into your home. There are specific measures that the real estate industry has to follow to ensure your safety. Biggest thing that we want here is to know that you and your family, if you make the decision to sell your home, you are protected. You’re not going to put yourself into a position of, you know, just some random people walking through the home with no checks and balances in place. They are there. And really at this point, I don’t see them going anywhere anytime soon.
So all of these items, and why I’ve shared this with you is, this has truly revolutionized the way your home is sold. So again, why we’re continuing to get all of these questions of, you know, is now still a good time to buy? We’re equally getting that same message, well, is now still a good time to sell? And the answer to that question is absolutely. It is now an amazing time to sell your property, and we would love the opportunity to assist you down that path. If you or someone you know has any questions, or would like to know more, please reach out to us today. Thank you.