Is Now The Right Time to Sell Your House? Our response to Corona situation

Spring has almost sprung, the rain is easing off and the sun is finally shining.  We’re therefore starting to receive an increasing number of phone calls from new clients – and rewardingly, returning clients – to list their properties.  A couple of external contacts have recently asked us: are people still buying and selling their homes with the Coronavirus pandemic? The simple answer is: yes. Given the amount of media coverage surrounding the virus and the increasing public concern, we wanted to take a moment to explain to you how business is continuing as usual and why you should ease of panic buying loo paper and use this as an opportunity to take stock.

Estate Agency is centred around relationships but the nature of relationships, in the social media age, has changed.  Increasing amounts of our business is conducted over the telephone and via email, although we still value face to face with clients either on viewings or marketing reviews with our sellers. We are currently carrying these out with appropriate care, minimising interaction where possible. You’ll be pleased to learn that we already had a strict hand washing policy in our office and we offer all our clients bespoke video walkthroughs which reduce the time necessary in property viewings. There is no need for our clients to shake hands!

If you were looking at moving but you’re becoming increasingly concerned by the news reports, question yourself: what was the catalyst for you deciding to move in the first place? It might be that you’ve outgrown your home or that you need to downsize. Perhaps you’re renting and are attempting to climb onto the property ladder?  Now question: Does Covid-19 really negate your need to move? While some may not know how to react, many are using the situation as an opportunity to find their dream property. In fact, you are likely to have a greater audience for your property than before. Coronavirus means more people staying in doors considering your property whilst watching one of our bespoke video walkthroughs.

The reality is, we live in a society where, increasingly, people are able to work from home. Even if the larger companies decide to send staff members home, most law firms or mortgage advisors will be able to continue to operate from home offices so you can rest assured the conveyancing and mortgage applications will continue.  We also live in an era where it is rare for people to buy houses through the window of an estate agency, this is one of the reasons why our office is not on the high street. The fabulous online sites where Orchards features your property ensures that your home listing has the widest possible reach.

Now question what will happen if you hold off putting your house on the market or if everyone else decides to hold off marketing until further notice?  We were sliding into a seller’s market but could this reverse the scenario and put us back into the buyer’s market where the buyer calls the shot and sellers end up being forced to reduce their prices? It also means that once the frenzy surrounding the pandemic subsides, there could be a rush of people deciding to market their homes.  Your property will become one of many to hit that market and you may risk making less of an impact with your listing than you had previously hoped.

Our advice is this: keep calm and get ahead.  For any other concerns or questions, call us on 01935 277977.