How does a real estate transaction work right now?
How does a real estate transaction work right now? Answer: It changes every day.
The California Association of Realtors, as well as local associations, continue to work with county Departments of Public Health to provide and update directions for safely showing and selling properties. Current guidelines still emphasize the importance of limiting face-to-face contact by all parties, including sellers, buyers, and agents. Showings should first be done virtually wherever possible, and property access by appointment is limited thereafter.
Buyers are adjusting to using listing films, floorplans and 3D tours to study properties in detail prior to requesting a showing. In person showings are generally by appointment and limited to 30 minutes per party. However the market is extremely competitive in 2021. Even showing appointments are difficult to get on the most popular listings, and condos, which struggled in 2020, are active once again. Buyers should expect to compete with multiple offers across all property types. Sellers should still pay extra attention to property preparation, especially curb appeal, as buyers tend to discuss the property outside on the sidewalk before and after appointments.
With plans for further reopening, we can hope that open houses may return over the summer months.