Navigating the real estate market can be challenging in normal times, but making the decision to sell during a global pandemic can be even more daunting. Our team at Flat Fee wants to make sure that you are as informed as possible about current market trends and what to expect if you're selling your home during the COVID-19 crisis.
While selling your home during COVID presents some unique challenges, the real estate market has been surprisingly resilient since COVID-19 was discovered. In fact, real estate prices have gone up thanks in part to the demand driven by people seeking larger spaces. We have also seen demand driven by historically low interest, something that most economists do not think will change any time soon.
If you are on the fence about selling, you should know that the Vermont Department of Agency and Commerce, along with the Vermont Department of Health, has a set of guidelines for real estate professionals to follow. These guidelines are constantly being updated after new data and science is studied and analyzed by the public health professionals. For instance, mask wearing by real estate agents as well as buyers is mandatory while they are in your home. Moreover, most agents and buyers sanitize their hands both before they enter and after they leave your home. Additionally, home inspectors, appraisers and professional technicians are also following the dictated guidelines from the State of Vermont when entering and leaving your home. Safety has become everyone's priority in the real estate industry and we all take these precautions seriously.
Other than precautionary measures, the selling process has not changed much. Even before the arrival of COVID, much of the work of real estate professionals was performed remotely. For years we have utilized online contract and listing agreement platforms to provide more convenience for our clients. In addition to the remote document platforms, our agents utilize email, texting and other digital communication platforms to communicate with our clients. Like real estate agents, most real estate attorneys have the ability to represent clients remotely. While there are some in person meetings, much of our work has always been done outside the presence of our clients so your typical real estate transaction does not look very different than it did in the past.
One final note about selling in today's environment. With the arrival of COVID we have seen people reevaluating their needs and desires. Thanks to Vermont's natural beauty and slower pace of life, we have seen greater interest in the Vermont real estate market as of late. Not only are we seeing interest from people looking to relocate to Vermont but also from people who otherwise may have left the State for larger metropolitan areas. It seems like people are recognizing the value and benefits that Vermont and its housing market have to offer and thanks to this renewed interest the market remains strong for those looking to sell their homes.