Many Realtors® remain encouraged that the spring buying season will be healthy. We are seeing buyer and seller activity even during this pandemic, and the majority of Realtors® believe buyers and sellers will actively return to the market following the end of the health crisis. Fundamentally, buyers still need to buy, and sellers still need to sell.
Even with the Covid-19 outbreak, MLS members in the Brainerd Lakes Area are saying that buyer interest is ramping up this spring. Our Weichert Realtors Tower Properties office is seeing considerable interest from buyers. Sellers are more reserved, however, with the consequence of having not enough listings to satisfy our buyers.
Home prices look to hold steady after rising robustly before the pandemic. Almost three in four members of the National Association of Realtors®, 72%, said sellers have not reduced prices to attract buyers. That’s holding true in our area as well.
Technology plays a vital role as the real estate industry adapts to the new reality of managing deals virtually with social distancing directives in place. The most common technology tools used to interact with clients are e-signatures, social media, messaging apps and virtual tours. Since Open Houses are not currently allowable, we are doing Virtual Open House tours. Individual showings are certainly permissable with certain rules in place. Sellers prefer that buyers have their financing approval in hand and only the actual decision-makers view the home in person.
I’m happy to talk with buyers and sellers about the “new” real estate sales environment. Call me at 218-851-8276. – Carolyn Olson