The task of selling, buying and
investing in properties has always been a thoughtful act, full of challenges
and bumpy roads. These challenges have only been boosted by the new scenario
COVID-19 has provided, making it seem that the road is a little steeper than
before. However, there are still many opportunities within this field.
Surprisingly (or not), the real
estate business in South Florida hasn’t stopped. Just like everything else, it
has slowed down: transactions are being delayed or pushed back, but they
haven’t stopped completely. In fact, many brokers and companies keep showing properties all over Coral Gables and Miami Lakes, valued from $300,000
to nearly a million dollars. So, in spite of the circumstances, there are still
many alternatives to carry out a safe investment for all the parties involved
during the COVID-19 pandemic.
● Pricing and Listing: Right now,
many transactions are paralyzed, and for fear of losing business opportunities,
many owners are lowering their prices; however, this might not be the best
strategy to follow. The price fluctuation due to the crisis is temporary, so if
you’re thinking about lowering your selling price, make sure it’s not an
exaggerated drop. That way, you won’t lose money when the prices start rising
up again.
Moreover, listing
prices and comparisons with other properties are also good measurements, as
long as they are up to date. The market has changed in the last few months so
there’s no use in checking old references.
● Ace negotiation: Buyers are
increasing their standards. Why? This pandemic has shown the importance of
owning a home that covers all the needs of space, comfort, security, etc., in a
long-term period (at the end of the day, we have spent several months at home
already), all of which means that brokers and agents must polish their
negotiating skills, and even prepare themselves for a little give and take.
● Take care of the image: Tidying
up, fixing minor construction issues and caring for the visual image have a big
impact on a client’s decision. As for COVID-19, the alternatives to carry out
meetings and home visits are now restricted by virtuality.
An online rendezvous might not be the most
comfortable for either of the parties; however, it is one of the makeshift
solutions during the crisis. On the other hand, for those who are still able to
manage face-to-face visits, it is important to be aware of all the safety measures
to preserve health (self-distance, face masks, antibacterial gel).
Now more than ever, people are
valuing the worth of their own homes at its fullest, which is probably the
biggest silver lining in our work field right now. Even when times get tough,
there’s always something to bet on, and, for us, that is South Florida.
