In a year when we’re learning to do so much remotely, homebuying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices have changed the way we live. This year, rather than delaying their home purchases, buyers – alongside their trusted real estate professionals – turned to the Internet to do more than just a typical home search. In some cases, they bought homes without even stepping foot inside. Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), says:
“People really didn’t buy houses sight-unseen, traditionally. It’s still not a huge number, but it has gone up, and we have definitely seen that trend accelerate.”
According to NAR, throughout the coronavirus pandemic, one in every 20 homebuyers purchased a house sight-unseen.
How Your Real Estate Agent Will Pave the Way
Today, real estate professionals are using digital practices to help homebuyers and sellers walk through many steps in the process virtually. While following the regulations set forth by the CDC and all local guidelines, this year, agents quickly empowered buyers and sellers with virtual tours, 3D floor plans, high-quality photos, videos, online open houses, and more. For those who had homebuying and selling needs in 2020, trusted advisors made it possible in many markets.
Here’s a graph showing some of the digital options buyers found most helpful in their searches this year, as noted by NAR in the 2020 Profile of Home Buyers and Sellers: The report also mentions that buyers this year generally searched for eight weeks. Throughout that search, they viewed a median of 9 homes, but not all of them were seen in-person. Yahoo Finance notes:
“Buyers viewed five homes online and four homes in-person during the pandemic, compared to nine homes in-person in 2019, according to NAR.This was the first year NAR asked buyers to specify the number of homes toured virtually.”
In true 2020 fashion, virtual practices helped buyers safely narrow down their top choices, so they didn’t have to unnecessarily walk into more homes than they needed to see throughout the process. Here’s the breakdown by region: At a time when health and safety are top priorities, current technology is making it possible for buyers and sellers to move their real estate plans forward at their own comfort levels, even through a worldwide pandemic. For many, this means buyers no longer have to physically tour every home they want to see, and sellers don’t need to open their doors over and over again throughout the process. Safety can come first, and trusted real estate professionals are here to help.
Mark Hughes is the President and curator of Bungalows and Cottages LLC, Blog, and Networks. Mark's mission is to bring the design, history, and lifestyle of smaller comfortable iconic American bungalows and cottages to everyone. Mark is a real estate broker, manager, and coach, and industry executive who once ranked in the top 1% of agents worldwide for sales and has sold or managed over 6 Billion in U.S. real estate sales. Small Home, Big Life.
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Mark covers the Los Angeles Market for Bungalows Cottages. Mark also serves as the liaison to the B&C Expert Partner Agent Network. He loves Bungalows and Cottages!
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Judy Hughes is a seasoned residential real estate professional with over 25 years of experience in the industry. She has always had a love for homes and design, which led her to pursue a career in real estate. In her first year as a Realtor, Judy quickly established herself as a young market go-getter, garnering the attention of a large national bank that chose her as their preferred relocation agent. Her clientele continued to grow as did her love for the business. Through the years, Judy has been licensed and practiced in several states, but now resides and specializes in Leisure World of Seal Beach. She brings with her an extensive knowledge of the housing market and is passionate about providing excellent customer service.
Whether it is packing and moving information, health and safety recommendations, remodeling, or major renovations; she can help. Judy is eager to utilize her market knowledge and practical moving experiences to assist you with a smooth and profitable purchase or sale. She combines thorough market research and today’s fastest digital and mobile technologies to ensure her customers are first to know about market opportunities and movement. Judy executes a dependable buyer delivery system for her sellers leveraging Seven Gables’ global property syndication networks. She is known for her tenacious follow-through and her selling strategies. Put Judy’s passion for Leisure World real estate to work for you. When she’s not helping clients buy or sell their homes, you can find Judy spending time with her family and friends or enjoying one of her many active hobbies.
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