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Part I: What Coronavirus Has Taught Us About Buying & Selling a Home at the Same Time

August 13, 2020

5 MINUTE READ

Buying a home can be a hassle, and selling a home is far from easy. Embarking on just one of these real estate journeys requires you to buckle up for the ride… but what about when they’re combined? 

Buying and selling a home at the same time has always been stressful, but for many people, it’s the typical way to navigate the market. If you’re selling your home, the next logical step is to buy another. And, if the buyer isn’t a first-time homeowner, chances are they’re just stepping out of a sale, too. 

Buying and selling a home inevitably go hand in hand. Each quest is stressful alone, and together, they’re a challenge. And now, with the coronavirus on the radar, it’s become almost impossible. 

The “New Normals” of COVID 

In the midst of a global pandemic, it’s not really that surprising that life has basically turned upside down. It’s been months since the coronavirus came on the radar, and we’re still all getting used to the new ways of operating to stay safe, sane, and successful.

No matter what you’re up to, the pandemic’s ‘new normals’ are sure to put a dent in your flows. Buyers and sellers know this all too well, as the already complex world of real estate is being exacerbated by the current situation. 

Work From Home 

Whether you’re buying or selling a home, these things take time… and energy… and patience… the list goes on. 

Now, imagine (if you dare) how stressful it could be to buy or sell a home while working from home. 

The WFH wave hasn’t been easy for anyone. Simply doing what we normally do in these new circumstances has really messed with our heads, schedules, and workflows. By now, the ‘work from home’ burnout is hitting all professionals new to teleworking – which isn’t surprising, considering that remote employees regularly report higher levels of stress. 

Even the easy parts of selling or buying a home become challenges when we’re working from home. Picture this: you’re a seller who’s teleworking, and you’ve just scheduled a last-minute showing. With only a few hours to spare, you need to clean the house and leave so your agent can show the property… but, you’re working. 

There’s a Zoom meeting scheduled and you’re getting flooded with texts from your team and boss. That to-do list is stacking and you’ve now got all these sudden home-selling responsibilities to meet. See the conundrum? 

“They are Working-From-Home and cannot be listing a home (have buyers touring, showing at all hours) while they are living/working in the house”, noted Mia, a Reali NorCal agent. 

Distance Learning 

Oh, and don’t forget to factor in the kids. Schools are closed and the kids are home, too. They’re distance learning on the computer, which sounds peaceful, but parents know the reality is far from placid. 

Whether you’re surrounded by children, teenagers, or your kids that are home from college who are also distance learning, it’s difficult to pick up and leave (or do other preparations, for that matter) while living a socially-distant life. 

“Trying to sell a home while WFH is next to impossible for most people. Because Open Houses are not allowed, tours are the only way for potential buyers to view properties. Because of the lack of inventory, many homes are seeing LOTS of tours and activity, meaning that whoever lives there has to be out of the house quite a lot. And with most places closed, where do they go?”, says Sophie, a Reali manager. 

“It’s not like you can just go sit in your neighbor’s house for a while or go shopping while you wait for the tour to be done,” Sophie continues. “Anyone with young kids also finds that being home most of the time does not make for a pristine, tidy, ‘tour-ready’ home.”

Social Distancing Concerns 

At the core of these stressors is an even bigger, fundamental reason why it’s difficult to buy or sell a home right now – let alone simultaneously. We’re operating in a pandemic-shaped reality, making health and safety a primary concern for everyone. 

“Accommodating tours while WFH during a global pandemic is even harder than it normally is… and frankly, it’s scary”, said Sophie.

Simply put, sellers don’t really want people in our homes right now, nor do buyers want to be going in to tour currently-occupied listings. 

 

Solutions? Say Hello to Reali. 

These are indeed perilous times to buy and sell. But, strategic-minded and creative real estate players can bypass these major pain points by optimizing their transaction with Reali’s elevated Trade-In program

James, a Reali SoCal agent, says of Reali’s Trade-In program, “This is an untouchable formula for success and EVERYONE with a home to sell that is in the market should be using Trade-In. If not, GOOD LUCK to you in this market. It is the most competitive market I have witnessed in 35 years in the business! Trade-In is Reali’s Secret Sauce, and it is starting to show!” 

Stay tuned for Part II of this article to learn more about Reali’s Trade-In and why it’s so valuable in today’s turbulent market. 

Too eager to wait? Get in touch with our team and we’ll answer all of your questions.