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In general, how has COVID-19 changed client attitudes with regard to BUYING a home?

A buyer’s agent refused to show a listing because I told her seller is requesting mask and gloves. I offered to bring her and her clients masks and gloves. She said “I don’t believe in that stuff.” I explained that my seller did, so I again offered to bring her items. She told her client (I could hear this on the phone) that she would wait in the car while her client went in. Client said “But I want my agent with me, otherwise what’s the point?” At that point the agent said “My buyer does not want to be dictated to how she can look at a property. We are cancelling the showing.” I spoke to her broker, but broker didn’t care. Wow, Wow, Wow.

Some buyers unable to travel cancelled plans to purchase; otherwise, no change. Still showing in person.

Accelerating buying efforts due to pricing decreases and most buyers needing loans to buy not able to qualify.

Some have stopped looking, some have postponed, most are continuing on with no problems. 6

Fewer inquiries and no one coming to open houses.

Due to low inventory, lower priced homes selling for well above list price. If there are any market hiccups, they worry the inflated price doesn’t represent good value.

At first (about 3 weeks) everyone panicked and was cancelling and now ‘m busier than ever.

Winter visitors from NW & Canada are either/& experiencing significant upward trends in virus spread, restricted borders & our own significant increase in virus spread & hospital capacity.

Buyers excited about low interest rates, inventory very low so a challenge to find a home.

Delaying 6 months – 1 year due to fear of loss of job

Homes are selling in one day with multiple offers. Buyers are out looking more now than before covid 19. The market has exploded.

Major depression , foreclosures, unemployment so even if you sell home the newest buyers will lose their homes.

First time buyers with stable jobs taking advantage of low interest rates and less competition.

Clients are very agreeable to social distancing and wearing masks.

Buying clients increased their urgency to buy and were not afraid to go to showings while observing CDC guidelines.

The only problem I have had, is finding the home for my buyers, as the inventory is extremely low especially in the price range my buyers are hoping to buy in.

Due to sellers delaying listing, less inventory for buyers to choose from.

Wanting very fast closings on move in ready homes, not looking at land to build because their need is immediate so opting for already completed new builds.

In general, how has COVID-19 changed client attitudes with regard to SELLING a home?

Want to move out and have home vacant, almost at all cost. This includes renting something during the sales process.

Concerned they wont get showings but still want to list and move.

Implementing screening & other precautions.

No change but clients are more cautious and respectful of the situation.

Some are delaying if they can. Others not.

If owner occupied using extra caution or virtual tours.

It brought out buyers looking for a deal.

They don’t want people in their homes.

Full steam ahead

I won’t do open houses at this time.

Decide to use IBuyer to hedge bets of selling.

It’s been mixed. Some sellers are preparing their homes with disinfectant & wipes, fewer showings & buyers think this will lower the listing prices, some are and some are not.

Want to sell now to benefit from low inventory and high demand driving up prices as evidenced by multiple offers on properties priced at market value.

Listing with awesome photos and virtual tours priced to limit showings sell.

Not listing yet because they want to buy first, but there’s not very many listings and have had trouble finding a home first.

Continuing to meet with clients and show properties in person – with lots of precautions (masks, sanitizer, etc.)

A small percentage took homes off market due to risk of showings.

Had one pull a listing; concerned about people entering home even with protection.

Seller’s had been delaying but as of this month, June 2020 Sellers are starting to list homes.

Some clients have decided to sell investment properties becuase of fears for a market downturn. Otherwise, all is the same.

Intensifying my seller’s desire to sell – many came off the shelf to finally take the leap and list.

Sellers are requiring prequal prior to approving showings.

Have you seen any of the following changes in home seller listing behavior?

Face masks, sanitizing after each showing.

Most sellers want to list after they have moved out to elimate stranger traffic in their home.

In some Valley cities, it’s obvious people aren’t concerned, It’s very surprising to me.

Some sellers are making showings more difficult and my buyers just cross them off the list.

Some request masks, one request gloves & shoe covering and buyer refused to go to that listing.

Afraid to buy new home, due to unsure job market/virus conditions, so won’t list current home. Risk averse.

No change but offering sanitizing options to buyers, most prefer no open houses.

Want the home to be vacant so they don’t have to deal with showings while living there. This has pushed back their timing to list so they can move out first.

By my request on listings.

We set up a sanitation table and all our seller were okay with it but did not request it.

Taken temporarily off market doe to a high risk family member.

Clients currently working from home and showings must be restricted.

Less communication from LA due to it being a Seller’s market. They feel they can make the rules and no consideration for the Buyer’s Agents in communicating anything.

A bit more selective about prequalified.

Waiting to list/sell until they are comfortable having people into their property.

We encourage sellers to have lights & inside doors open to avoid buyers touching anything.

I offer them to the public but listings are also offering them as well to be safe.

Once back on the market they will allow open houses but no sign in the yard.

All of my listings were vacant. Cleaned more often buy not crazy every 5 minutes.

I created a COVID-19 Questionairre which all Sellers love.

I have had booties provided and gloves for people to use about 50/50 on this, some use them, others do not.

I require masks ,gloves and booties and will provide them to all buyers.

My sellers are on the fence waiting on a vaccine.

Are your current residential transactions running into any significant delays due to COVID-19.

BINSR issues, contractor not being able to get materials for repairs.

Mobile closing docs and Notary. Confined people.

I have had a few buyers who were interested but didn’t qualify due to being furloughed, laid off or some other financial reason.

Appraisals are very slow do to refinancing.

Client asked for forbearance therefore credit was hurt. Can’t buy now.

Appraisers not going into the house affecting appraisal value.

My home inspector has coronavirus, had to extend the inspection period.

Bad Appraisals – lowering appraisals based on the possibility the market will adjust lower, which is no happening in the Tucson market.

One transaction had a delay until her job got the PPP and she could go back to work.

Multiple offers within hours; cannot find a home, so entire process delayed.

Home inspectors want to do the wrap up virtually and my clients are opposed.

New build –delay in building materials.

Appraisals are still taking longer than normal so need to be ordered early & mobile notaries take an extra day that must be planned.

Appraisal for home in Tucson taking over 30 days.

Some appraisers are doing drive-by appraisals..not fair to seller to not view the entire home in person! They are not providing accurate home values, inaccurate low values I’m hearing from other agents.

Buyers no longer qualify due to stricter lending guidelines.

Unable to complete transaction due to contingency.

3 weeks financing delay, 3 day title delays, home inspection 1 week or refusing to inspect occupied homes.

Had one Buyer cancel a 2nd home purchase due to having 2-VRBO properties in Maui that he can’t rent.

Lenders are asking for 45 days.

Had recent deal fall apart due to changes from Fannie Mae with regards to self emplyment income reporting.

Delays in City permit approvals.

Jumbo loans have been impacted and requires 2 underwriting processes with my current excellent buyer.

Title/escrow is jammed up due to reduced staffing/efficiency.

HOA Disclosures.

Secondary loan programs suspended and some came back with significant changes.

Self employment guidelines ever changing.

Appraisal delays; commission based salary one partner w/employer not able to guarantee the same income as 2019, loan canceled.

Other inspections, well, septic, etc.

Owner can not evict tenant to have vacant house to sell- tenant refuses to cooperate with 48 hr notice to show during Covid-no evictions allowed in AZ right now.

The influx of refinance due to lower interest rates caused many delays for sellers being able to obtain pay off information.

The influx of refinance due to lower interest rates caused many delays for sellers being able to obtain pay off information.

How has your business model changed?

Trying to find a safe environment to talk in person.

More frequent calls and less face to face appointment.

No open houses, Brokers Tours, will not car pool, will not go into occupied homes.

However the clients want to proceed.

Continue as normal unless clients request something different.

Our company has all technology necessary to work.

Working more cautious with seniors.

More phone and email communications than in person contact for major decisions.

We were already trying to increase our virtual business.

Increased use of video of homes for buyers.

Using zoom for tours using YouTube as a way to send tours to folks who don’t want to tour in person.

Exercising precautions and distancing with face to face.

It hasn’t. Still showing according to Sellers requests on Covid criteria.

More mailings.

Buyers appear to only want to view homes they are really interested in. not as many looky-loo showings.

Not present at loan signings..utilizing protective gear and wipes.

Need to be more resourceful and creative with marketing.

Not meeting clients at my office. Office remains closed.

No real change. Was always utilizing electronic applications.

Not having to drive as much- BONUS!

I’ve left it up to my clients, if they want to wear masks or not, sanitize, as long as it’s ok with homeowner.

We are in a rural area. I don’t think we have been affected as much as metropolitan areas, other than an increase of anxious buyers from metropolitan areas.

Keeping in touch with my sphere via email; social media and zoom meetings.

Less in person showings on the vacant land. I email detailed information and they view it on their own.

Drive by appraisal.

A lot more prep and client education.

Checking in with clients more often on a personal level. It’s a good opportunity to do that!