As soon as the Covid19 started spreading globally, everything was shut with a blink an eye. Once Covid19 was declared a pandemic, it was clear that the viral air would not get cleaned anytime soon. Looking at the history of the last two pandemics, the experts claimed that a time frame of two years should be kept in mind before the economy returns to normal with a functional market.
Covid 19 for the real estate market was awful news because the precautions prevent people from gathering at all cost. It was dangerous to touch anything with bare hands. Social distancing, masks and hand gloves became mandatory and in such situation entering a stranger’s house to look around was a dangerous call.
However, during Covid 19, the real estate market of New York experienced remarkable growth and sales as compared to 2019. How did that happen?
There are two reasons for the substantial growth in the real estate market. One is people started panic buying the houses, especially in the suburbs, two there was a lot of technical scopes to explore.
While most high-end real estate companies turned their interest towards the technology of aerial shots, AR and VR to show around houses during Covid 19, several ordinary people were deprived of the luxury.
However, even without technology, you can visit the house, following precautionary measures.
The real estate market of Long Island also experienced substantial growth in resale and the market value. Once the situation started to calm down in the state, authorities allowed a few critical businesses to reopen for functioning, including the real estate sector. As the state included the real estate business as essential several rules and regulations were imposed to protect all individuals involved in the process.
Right now, the real estate market is offering hot deals on the valued property. If you like to explore your options by visiting the house, here is a brief review of how the house show is taking place.
Pre- Covid 19 situation certain house owners requested to do an open house where multiple potential buyers were invited for the house opening, similar to those houses that are being auctioned by the bank.
Post-Covid 19 a maximum of two-four individuals, including the realtor, are allowed to be present in the same house at the same time while maintaining a distance of six feet simultaneously.
One critical change is that potential buyers are only allowed to enter the house if they have the house loans bank approved. The approved loans have helped reduce the number of visitors, while individuals with a firm decision to purchase a home can freely continue to explore.
Post Covid19 individuals as a precautionary measure have started to cover most of the furniture during the house. The view may be unpleasantly but is also recommended by the health experts.
In the set regulation intended for the house showing the state has instructed realtors to sanitize the home before and after every visit of house shows. It is advised to continuously disinfect the floors, any doorknobs that are touched during the house show, even if everyone is wearing gloves.
The clause about no interaction by the state includes two essential aspects. One is that you can’t interact with the house owners during the house showing and two you are not allowed to touch anything. Neither realtors nor visitors are allowed to interact with any piece of furniture at the house to prevent risking the health of present home residence.
While the visits per day are limited, the homeowners are advised to stay away from the residence premises during home visits. Is it recommended that the room doors remain open for the visitors to take a good look around the house while they can avoid touching the doorknobs?
For the protection of the realtors, the state advised the individual to wear the most secure mask and gloves throughout the day, and if possible, it is recommended to wear the suit as well which should be discarded every day. The realtors as well are instructed to keep the interaction minimal during the house showing days.
Each state has drafted their own set rules and regulations for the brokers, realtors and house inspectors in the real estate business and is strictly advised to follow the state policy and instructions. If disobeyed the concerned party is liable for losing their license as well.
The state also announced that each individual should stay updated with the changes made in the regulations depending on the state’s Covid 19 situation. The rules for house showing currently existing are temporary.
If you want to read more about the regulations and precautionary measures during house showing, you can visit the official state site.