I get this question all the time, but now more than ever. That being said, as it looks like we are getting closer to things opening up, we are getting a lot more calls for showings, listing presentations and realtors seeing if certain homes are still available.
As the world economy has basically been shut down for the past month and a half, much of the real estate market has been quiet. At the very beginning we saw people that were about to make a move, but had not yet, freeze. From many calls between myself and other realtors, most of those people are still out there and looking to do something when they can get back to town. Every deal that I had under contract when we began quarantining has either closed or is on track to close. I actually put two deals under contract after this COVID-19 pandemic began here in South Florida. To be honest, that feels great, but the reality is that this is usually our busiest time of year and when we line up most of our deals to close in the Spring and Summer, so at this point our numbers are way off. Interest rates are still low and banks are still lending, however, with some different requirements especially for jumbo loans.
It feels like there is a lot of pent up demand and that if things open up sooner than later, we will be busy a little later in the year than normal, but busy none the less. It is hard to project what will happen, but in the meantime, it has been a fun couple of months learning how to sell real estate in different ways. Every morning my team meets on Zoom and goes over everything we have in the pipeline, every listing, potential buyers, and what we can do to ensure we are totally organized and ready for when we come out of this. I have been doing virtual open houses for the past month and have enjoyed the connection you feel when you see people joining the live open on Facebook or Instagram. It is funny, I don’t think I would have ever thought I would feel connected this way, but I do. We have always done videos on the more expensive properties, but we had not been doing virtual tours. We jumped back on those immediately and had our videographer out to all of our properties within a week of quarantining so we could share our properties online. I have posted more videos, which is a great way to reach people. I have had a couple of listing presentations on Zoom, keeping appointments, but am missing the human contact and touring the homes in person.
Through this process it has become very clear that we are learning much of how to handle this situation on a daily basis and that to take a hard stand on something only makes you correct yourself the next day. One of the things that I realized through this pandemic was that not many houses were coming on the market. Originally if you had asked me if you should list your house I would have said no, but a week later I posted a video on Facebook saying if you had a property that was empty and could be shown, to list it. With so few new homes coming on we are paying close attention to each one. Of course, if you have a house that cannot be shown, it is better to wait until people can see it.
We are lining up new listings (this is certain) and the summer is going to be busy (I believe). If you have questions about real estate or are looking to get in the market as a buyer or seller, please don’t hesitate to call me. We have not stopped working through this time and look forward to reconnecting with everyone when the time comes.
To learn more about how COVID-19 is impacting the real estate market, join me and the Miami Real Producers Power Panel with the Women's Council of Realtors Miami-Dade at our Zoom webinar on Tuesday, May 5th at 2:30pm, space is limited so click here to RSVP.
If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, or visit my website at: Luxury Miami Real Estate
My focused dedication as a realtor in my home town of Miami for over 25 years, consistently puts me at the top of my field. Whether you’re looking to buy or sell your home, let me help you from start to finish with my results-proven: professional marketing, excellent property exposure and comprehensive experience.
Consistently in the top 10 company-wide at BHHS EWM Realty for the past 15 years, my focus is on Coral Gables, Coconut Grove, Pinecrest and South Miami — specializing in luxury real estate and waterfront properties. Call me today and let’s get started!