Best Practices For Listing & Selling Your Home During COVID 19

These 4 Simple & Safe Best Practices Guarantees Selling Your Home Quickly And With Piece Of Mind

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Pricing Right 

Marketing Right

Strong Digital Presence 

Tours & Open Houses 

2020 Real Estate Timeline & Review 
Christian Di Stasio - Realtor, Real Estate Advisor 
July 29, 2020

The Northern NJ real estate market has definitely seen ups and downs since March 2020 and the onset of the Covid-19 pandemic and state shutdown. 2020 started out with record numbers of homes sold, new listings, home values up, days on market down. What could go wrong?  

From the end of March though the first half of May those numbers took a nosedive. Quarantine, state shut downs, panic and the unknown kept people indoors. During this time sales did continue for those in the process of their transaction or having no choice but to weather the pandemic out of necessity to buy or sell.

Home showings and realty were fortunately considered essential in NJ during the pandemic as long as CDC guidelines were followed. Open houses were not allowed for about 60 days and in June were again allowed as part of Gov. Murphy's phase 1. 
 
Around the latter half of May things began to change and change quickly. Demand for homes suddenly spiked, largely to do with New Yorker's fleeing NYC, renters and the requirement to work virtually, has buyers needing more space and more privacy. 

As of July 27, 2020 new listings are down 21.9% according to NJMLS leaving more buyers than active listings. Some reports are showing as many as 2 times more buyers than homes available. Move in ready homes are selling in days, many with multiple offers and many selling as much as $50,000 over the asking price.  

So what does that mean……? 

It's a SELLERS MARKET! 

If you were thinking about selling before the outbreak of CV19, holding out until “things settle down” or simply want to take advantage of the sellers market. Now is a very advantageous time to do it! Property values are steady, buyers are highly active and with banks being so strict with qualifying loans, there has never been such a pool of highly qualified buyers.

#1. Pricing Your Home

Timing is extremely important in the real estate market. The above graph illustrates the importance of placing your property on the market at a realistic price and terms from the very beginning. A property attracts the most excitement and interest from the real estate community and potential buyers when it is first listed; therefore, it has the highest chance to sale when it is new on the market. 

Buyers purchase their properties at market value than above market value. The percentage increases even further when the price drops below market value. Therefore, if you price your property at market value, you are exposing it to a much greater percentage of prospective buyers and you are increasing your changes for a sale.

#2. Marketing & Property Presentation

Its very important you chose a Brokerage and Realtor that have well defined marketing strategies, network and reach in place and proven. 

There should be a solid blend of print, social media, agent/brokerage sphere of active buyers, targeted property placement to buyer groups, geo targeting of buyer groups.

Selling a property these days is all about marketing and availability of media for buyers to assess your home. The bottom line is, we’re living in a remote and virtual world right now and buyers are seeing properties that way. Short listing properties and even making offers in some cases. Having a solid digital presence is an absolute must.

#3 Have A Strong Digital Presence 

Home buyer search habits have shifted in 2020 and having a strong digital presence is essential. Buyers are previewing homes online in more detail and making the decision whether to take the time to see homes in person based on the media and content about the home that accompanies the listing. While high resolution photos and video present the homes amenities and features, leveraging 3D floor plans and tours allow buyers to immerse themselves into your home. Providing a much more granular and detailed look and feel for the home that photos and video just cant provide. Buyers are using this technology to minimize the time spent out in public and in strangers homes. Compiling a list of properties they’re interested in, touring these homes virtually, then short listing homes to see in person.  

As you can see, having that strong digital presence is the difference between being considered and not being considered these days. 

Your home or property should have the following 
- A dedicated property website
- HR Photos & HD/4K production quality video
- 3D floor plans & virtual tour

#4 Property Tours & Open Houses 

Touring homes virtually doesn’t stop with 3D. Live video tours are also the norm allowing buyers to continue to short list properties before attending in person. Viewing the home from the comfort and safety of their homes with their Realtor or Listing Agent onsite via video.

In person tours and open houses are being completed in a safe and organized manner. 

Step 1 - Showings are limited and spaced out accordingly for private tours & open houses

Step 2 - Buyers are required to wear face, shoe coverings and gloves

Step 3 - Your agent should be present for all showings and should be the only person opening & closing doors, turning lights on & off and minimizing contact of surfaces by buyers 

Step 4 - All touched surfaces should be wiped down with disinfectant after each showing. 
record breaking top 1% Realtor

Christian Di Stasio

Realtor | Adviser | Investor

Christian Di Stasio is a New Jersey award winning and record breaking Realtor with Sotheby’s International Realty. Based in Bergen County NJ Christian and his team serve home sellers, seasoned and first-time home buyers, home upgrading or downsizing, investors and builders.



What's The Difference in Christian?

“It's my business approach. I’m hyper client centric and I focus on being relevant to every client, thats the difference. Anyone can open a door and fill out a contract. Building meaningful relationships, listening to your clients goals, needs, challenges and working with them on a strategy that drives success and achieves their end goals. I provide “White glove service, for all things real estate” that is how all my clients are treated. Whether a $150,000 condo or a $10,000,000 luxury estate.”


-Christian Di Stasio - Realtor, Real Estate Advisor | Sothebys International Realty 



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