The Seattle-based real estate brokerage Redfin has presented instant offers to home sellers and homeowners across the Puget Sound but in light of today’s coronavirus issues, it is temporarily posting these instant offers on homes through its direct homebuying platform.
Visit CEO Glenn Kelman stated that they want to continue making these offers but only after the market becomes more predictable and stable. However, real estate has really not slow down a whole lot throughout the Seattle region. Even though entire cities have shut down their commerce, Redfin feels like they cannot make a fair price offer right now. But again, that’s coming from a big CEO and Corporation, not the individual real estate agent that still understands the micro-markets and neighborhoods throughout Seattle and the east side.
“This move comes after Redfin found national homebuyer demand was down, which the company measures by looking at annual growth rate in people going on initial home tours with their own agents.” [Source]
99% of real estate agents and brokerages have canceled open houses across the board and have limited private in-person tours, but that doesn’t stop buyers and sellers. There are plenty of ways that buyers and sellers can come together virtually, virtual tours, over the Internet, email, text, and even Zoom meetings and face time.
Related: Do We Even Need Real Estate Agents Anymore?
But, Zillow has not been slowing down at all. Their spokesperson says that they will continue to operate through their Zillow offers, available in 24 major US cities, Seattle not being one of them. When you’re talking about a company as big as Zillow, a hiccup like the coronavirus isn’t going to slow them down and a lot of agents will have their own personal opinions about Zillow. But again, nothing beats the one on one connection, marketing strategy, and pricing of a local agent that is extremely familiar with the neighborhoods in the current markets, which are changing on a day by day basis.
I think we are either nearing the peak or have already peaked with this virus in our area and real estate agents have quickly adapted their techniques and strategies for keeping buyers and sellers safe and yet keeping the real estate industry going. Real estate is essential. If you had your home on the market before this, you still need to sell and there are buyers out there that are taking advantage of the low-interest rates and great inventory.
If you’d like information about what your home could currently be worth or how we can keep you safe during the virus and buying and selling property give me a call today.
MORE: How Homeowners Can Market Their Home During the Virus