How we deal with COVID-19 is having a massive impact on the property market and in many ways. For some people, financial uncertainty is the biggest issue they are dealing with. With many people losing their job, being furloughed or holding genuine concerns about the long-term future of their job, it is easy to see why some prospective buyers prefer to wait before making a move.
Another issue which people must contend with is the health aspect. People should still follow social distancing guidelines, but this creates challenges which must be overcome.
Would you be comfortable welcoming strangers to your home?
As long as social distancing measures are enforced, 83% of vendors who are looking to sell their home quickly, say they are reasonably comfortable or very comfortable with physical viewings at their home.
Of course, this will create questions and further debate. If you have been in a supermarket or even walked down a High Street of late, you will know there is a wide range of opinions as to what constitutes social distancing.
As an estate agent, we will do everything we can to ensure viewings take place safely. This includes preparing in advance and following the recommended guidelines during the viewing. However, while we also endeavour to vet viewers, there is always an element of risk when you bring in people you don’t know to your home.
It is pleasing to see so many vendors stating a willingness to conduct physical viewings, as this will help to sell their home. Virtual tours and videos have a place in the present-day market, and the future of the housing sector, but ideally, prospective buyers should view a property in person before they decide to make an offer on a property.
It would be wrong to suggest that every vendor who wants to sell their home is prepared to sell it at any cost. In the group of vendors who say they are happy to wait until 2021 to sell their home, 8% are insisting on digital viewings only.
Digital viewings have a large role to play in the housing market
As we have said, digital viewings are an excellent option to consider, and they will help prospective buyers to get a feel for the property. In some cases, a buyer might be willing to make an offer on a home through digital viewings, but we believe a physical viewing is required for most buyers to feel confident about the buying process.
This might sound frustrating for vendors, but it is crucial to consider it from the other viewpoint. When the time comes for you to buy a house, will a digital viewing be enough to satisfy you, or will you insist on viewing the home in person too?
We understand this is a challenging situation for vendors and buyers, and we are here to offer guidance as best we can. The initial enthusiasm for property deals since the market re-opened is positive news, but we will work hard to ensure your clients receive the best standard of support in the market.
If you are looking for guidance or information regarding the housing market, please get in touch with Hunters Camberwell. As a local estate agent who has the support of a national network, we are ideally placed to provide you with all the help and guidance you need to make an informed decision, so please contact us today.