For some people, buying or selling a house may not sound like the most attractive proposition during a global pandemic. But data shows online activity of buyers is back to very strong levels. Therefore, it might not be such a bad time to sell your home after all. If you’re selling your house, which mistakes should you avoid? Which top tips can you apply to ensure success?
We’ve been told to literally sit on our sofas during the lockdown period. Many potential buyers have more opportunities to browse the internet to check out properties. Although buyers cannot leave their homes or indeed travel abroad to view homes in person, the advancement of technology means that they can view their desired property remotely.
Many real estate agencies are offering virtual tours, 3D tours or professional videos of homes listed on their website. This practice could potentially have a lasting impact on the way buyers view homes in the future, especially those living in a different country.
Therefore, when selling your home, make sure to work with someone who offers the best service. Did you know that we photograph your home in 360° Virtual Reality?
The most immersive and advanced way to conduct a tour is via 3D technology. 3D tours use photos and laser measurements to create a virtual model of the property, as if the buyer were actually visiting the property. The tour can be controlled by the user who can choose which rooms he or she would like to visit and in what order. Most of our properties for sale benefit from such technology.
So, it would not be a mistake to select a real estate agency which offers you the best remote viewings. Especially as this summer’s viewings may have to be long-distance viewings. Indeed, many travel restrictions are in place to curb the spread of the coronavirus.
As a seller, putting yourself in the shoes of a buyer might not be natural. But think like them, and what they can do now despite COVID-19. Doing so will make you a better seller, taking the right decisions.
As we said, online viewings are more important than ever. So, if you want to sell your home in the next 12 months, you must be visible online now. Otherwise, you are giving more chances of selling to your neighbor, or to someone else who has a similar property to yours. Buyers are viewing properties online now, so why wait?
A mistake for buyers is to take care of mortgage pre-approval later, while it’s possible to do it now. Hence gaining time, to close the property transaction faster, once they’ve found their dream home. Luckily, they will fall in love with your home.
Banks are still lending and mortgages are still getting approved. As you may know, for fiscal residents, it is possible to borrow up to 80% of the purchase price and up to 70% for non-residents. Borrowing is still very cheap and clients can still find fixed and variable rates below 2.5%.
Online mortgage brokers are also very active, and they are encouraging buyers to start the application process now to get their mortgages pre-approved, so they have a mortgage offer ready when they find a property to buy.
“Whilst our enquiries dropped significantly after the lockdown announcement, our enquires have now risen back up to nearly 60% of those received in February,” explains Mortgage Direct’s founding partner Katherine Walkerdine. “We are receiving a lot of positive feedback from investors and clients buying for personal use in that they still wish to purchase in Spain once the pandemic has subsided and travel restrictions are lifted.”
It would be a massive mistake to think that Foreign Buyers are going to be less important than before. Quite the opposite actually. Indeed, Idealista showed that demand from foreign buyers is gaining weight, compared to local buyers.
Read about British Buyers and Swedish Buyers
Social media has become a key communication method for almost all businesses and the real estate industry is no exception. Not only can agencies showcase their most beautiful homes for sale but in the case of those companies specializing in the foreign homes market, posting images of sun-drenched beaches vibrant cafes or picturesque villages can help emphasize an area’s lifestyle benefits. This works particularly well for Instagram.
It is inevitable that some agencies fell by the wayside during the lockdown and the ones that survive will be those that add value to their usual day-to-day offerings. Customer service, professionalism and excellent communication have never been so important.
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