With fears of a drowning economy due to the COVID-19 pandemic, businesses are finding new ways to stay afloat, including those in real estate. While the world is advised to stay home, Realtors are adapting to the new, virtual strategies to sell. And at Ponte Vedra Beach, it seems to be working.
“I hear people keep saying the market is crashing, but real estate and stock, don’t go hand in hand,” said local agent Lisa Barton. “Our market here at Ponte Vedra Beach is actually really strong. We’ve had over 10 years of growth and very little inventory. At an all-time low of about four months. In real estate six months is the average for a balanced market.”
Ponte Vedra Realtor Claire Berry is taking advantage of the slower pace and using it to get to know her clients better, with more in-depth conversations and attention to detail.
“There's nothing nice about this situation, but with slowing, we have time to ask more questions and learn more about each other,” Berry said. “I think that’s going to be a good thing that we have time for planning, rather than just five minutes between the next appointment. It’s nice to spend time with these prospects, educating them on the market and having more time to find the ideal location.”
And although clients can’t see their potential new properties in person, Berry, Barton and other Ponte Vedra Realtors have virtually brought the tours to them.
“We always post a professional video that shows how the house fits in the neighborhood, but now, we’ve successfully been doing Facetime videos with our client,” explained Barton. “We put two houses under contract this week, actually. One couple was from New Jersey so of course, she didn't want to fly down, so we walked through the house with our phone. We could open the pantry, show them the closet, how far the guest bath is from the pool and more. We’ve had some good success.”
And for those without Facetime, there’s always Whatsapp.
“I’m a Samsung girl, so Whatsapp is a good option for me. I did a tour of one of the neighborhoods on Tuesday, I think,” Berry said, laughing at how all the days seem to blend together lately. “No, it was definitely on Tuesday. It was a gorgeous day. I went out there with my phone, first thing in the morning, parked and walked both ends of the boulevard, showed them the nice residential street and came back to look at the lots.”
Prospective buyers still are able to meet and tour spaces in person, but with much precaution and with Realtors handling every part of the location, from opening doors to sanitizing countertops.
“People, of course, are nervous about having strangers in their home right now, so we’re being really serious about only pre-qualified clients visit,” Barton said. “We normally work with an agent and if they say clients have a preapproval letter, that's usually enough. Now, we have to see it to assure it’s a legitimate buyer. We’re the only ones touching anything in the home.”
Barton also is limiting the number of people who can tour the homes, not permitting any children to attend for the time being and keeping human contact at a minimum.
And to further assist both Realtors and potential buyers, the CEO of the Northeast Florida Association of Realtors notified agents that a new addendum has been added to contracts that addresses what occurs if there is an unforeseen delay due to the COVID-19 pandemic.
“For example, if we’re looking to close a deal on Monday and the closing office all of a sudden closed, this addendum would cover that delay,” Barton explained. “So used that on an offer I just accepted today. I’m working on another offer now that will hopefully get signed today, as well.”
Barton also said that now is normally one of the busiest times of the year for agents. It’s the prime time for families with kids to find their new dream home before the next school year begins.
“It’s interesting to see how we're going to maneuver when in July, if and when things start getting back to normal,” she said.
But for now, agents will focus on serious inquiries only, appropriate social distancing, sanitizing, and virtual tours, to help move their businesses forward.
“In a way, we still are sort of an essential staff, right now,” Barton said. “With everything going on, especially now, people still need a place to live and a roof over their head.”
