If you want to know what’s really going on with the real estate market, the best way to find out is to speak to the salespeople that are working with buyers and sellers right now.
On that note, I set up a Zoom chat with Ben Cartwright, one of Wellington’s most sought-after real estate salespeople.
In this podcast, we cover:
- Whether buyers are apprehensive to take action in this new environment.
- What it’s really like viewing houses at alert level 3.
- Why conditional buyers now have a chance, even if you are subject to sale.
- Why you will probably have a better customer experience than you did pre-Covid-19.
- Whether to expect a surge of properties coming on the market.
- How to increase your chances of success as a buyer and as a seller.
While you’re here
Be sure to follow the podcast on Spotify.
You can also book a one on one consultation if you would like assistance with your personal property decisions.
Tips for surviving this market
- Consider doing appraisals by video-call. You can contact your real estate salesperson via Facebook messenger video call, g-chat, skype, WhatsApp video. Guide them around your home and they should be able to give you an appraisal without any personal contact.
- If you are on the market, all viewings should be ‘by appointment’ rather than via open homes for the first short while once the lockdown is lifted. This means more hassle for everyone but it’s the safest approach.
- Homeview (3D virtual tours) should be available for every single listing. These are available for a minimal investment (usually a few hundred dollars) via open2view and other providers.
- Agents – please put more info in your adverts. Buyers are going to be reluctant to view properties unless absolutely necessary, so help us make choices by providing a high level of info online: Rental appraisals, rates, preferred settlement dates, price indications. Whatever info you can add to save people time and hassle will be well received right now.
- Make info easy to download. Use a system like PropertyFiles to make it easy for buyers to download information and review it from the safety of their own homes.
When is the right time to buy real estate?
You should buy a property if you know you’ll be able to afford to hold it for the next 5 years and beyond. Even if interest rates increase.
Remember, it’s far more important to buy the right property than it is to buy at the right time.
For more answers to financial questions relating to Covid-19, check out this recent post by Darcy Ungaro (financial adviser)
For more advice on timing the market, check out this post.
Have a question? Would you like advice specific to your situation? Book a 30-minute consultation online.