Sellers Are Standing Firm on Their Asking Prices

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Sellers Are Standing Firm on Their Asking Prices

Categories: Homes Planning Property Management Real Estate

Published 05/20/2020

Almost 75% of Realtors report that their sellers have not reduced their listing prices down to draw new buyers amid this pandemic, announced by the National Association of REALTORS. That indicates the amount of precaution home sellers consider to avoid feeling pressured to sell quickly during COVID-19.

"The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, the home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy" says NAR Chief Economist Lawrence Yun

The report published weeks ago from NAR indicated a fourth of realtors announcing that their customers had put offers on properties without physically observing the home. While 27% of realtors report that they can close almost all parts of sales while honoring social distancing orders. The most widely utilized technological tools used by realtors to interact with their clients during this time are social media platforms to advertise and inform, messenger apps to connect and communicate, virtual tours to showcase properties and e-signatures to finalize confidential documents.

To learn more about the COVID-19 precautions Advent Properties takes to protect our clients, residents, and team, please contact Darryl Glass via phone (510) 500-7531, or e-mail dglass@adventpropertiesinc.com

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