Proudly serving the Borough’s and Beyond with honesty and integrity since 2003
www.judyboylecares.com
[email protected]
508-561-7164
By Judy Boyle
I really didn’t want to discuss COVID-19 in this article but it seems to be all that anyone can think about. If anyone was going into the office, they would be huddled around the water cooler talking about it. Since everyone needs to stay home, they do the next best thing….huddle around their computers and talk about it (and how we all wish we had stock in Zoom). But then I remembered we are supposed to be approaching the peak of the spring market rather than the peak of the coronavirus, so I decided to shed some light on how the silent enemy is affecting the market…at least for me.
When the Baker Administration reclassified Residential/Shelter Facilities and Services as “essential,” agents across the state breathed a collective sigh of relief. Unfortunately, according to www.mass.gov/info-details/covid-19-essential-services, the ruling dictates that essential workers “support food, shelter and social services, and other necessities of life for needy groups and individuals, including in-need populations and COVID-19 responders.”
In other words, unless you have an extenuating circumstance, now is not the time to sell or buy real estate. The good news is, we WILL have a spring market….it will just be slightly delayed. If anyone is telling you otherwise, you may want to question their motivation and source.
OK, so what if you do have an extenuating circumstance and must buy or sell now? For starters, it is advisable that you hire an agent that can demonstrate he or she is ahead of the curve. If your agent isn’t familiar with the term “force majeure,” for example, you may want to look elsewhere.
Selling during COVID-19
The most elite agents are investing in the most sophisticated technology available, from 3D home tours to virtually staging vacant properties. We are offering virtual consultations and electronic signing of all documents. We are also implementing strict in-person showing protocols and requiring all parties to sign liability waivers. The ability to scrutinize a buyer’s purchase power has never been more critical. We are aligning ourselves with forward-thinking attorneys and collaterals who can assist us in getting the deal to the closing table at a time when the Registry of Deeds is closed to the public and deadlines may require extensions.
Buying during COVID-19
If you haven’t hired a buyer agent, schedule a virtual consultation with one or two. The process has been affected and you will want to know that your safety, interests and funds are protected. Buyer obligations and responsibilities have also been temporarily affected. The most elite agents are aligning themselves with other real estate collaterals that are observing (and following) safety protocols and are agreeable to signing newly devised disclosures. Reconnect with your lender to discuss how the mortgage industry has been affected and whether your buying power has changed. Remember, we are all in unchartered territory so you will want to know what you are getting into.
Many people don’t realize real estate agents only get paid when they close a deal. We are hurting right now like so many others. While I am educating myself and staying apprised of all COVID-19 developments as they affect the real estate industry, I refuse to misinform my clients and tell them they need to list now or buy now – that would be putting my interests before theirs. Rather, I am turning my efforts toward helping others who are hurting more than I. If you need to buy or sell now, rest assured I have all the tools in place to ensure we do so safely and responsibly. If you want to join me in being a part of mitigating this silent enemy, we will attain all your real estate goals when it is safe to do so. We will get through this together. For now, be well and spread kindness.
Boyle lives in Northborough where she is also a Chapter Leader of the Neighbor Brigade, a non-profit organization that assists families in times of crisis. She has been a Real Estate Agent since 2003 and consistently wins awards and accolades for excellence in customer service and sales volume, culminating with her recent induction into the RE/MAX Hall of Fame.
Her mission is to empower her clients to make smarter decisions through data-driven insights and local market knowledge. She invites you to follow her on Facebook at www.facebook.com/judyboylerealtor, call or email her for the Spring/2020 Home Buyer and/or Seller Guides or for a FREE market analysis.
Judy Boyle, Realtor®
Proudly serving the Borough’s and Beyond with honesty and integrity since 2003
508-561-7164
