Why is it Important for Carolina Realtors to Go Virtual During Pandemic?

According to Matthews Real Estate Report, Feb 2020, long term contract signings grew 3.4% to 111.5 in Feb, and year-over-year agreement signings amplified 9.4%. Simultaneously, total existing-home revenue, accelerated 6.5% from the month of January to a seasonally-adjusted yearly rate of 5.77 million in Feb. On top of that, for the 8th straight month, on the whole, sales significantly increased year-over-year, all the way up to 7. 2% from last year (5. 37 million in Feb 2019). Across the region, we see many of the same tendencies. In accordance with February statistics, both potential sales and current property sale data are growing week over week.

The real estate business in North Carolina is sensing the serious impacts of the COVID-19 catastrophe.

Beyond just the nationwide order, ‘Stay-at-Home’, released by Governor Roy Cooper, Mecklenburg County’s order likewise continues to be in place. On the county’s site, there is an explanation of what occupations are viewed as important in Mecklenburg during the outbreak. Real estate agents aren't listed.

Regarding real estate agents, the site says simply, “Showings, closings, or sale listings practically are permitted. In any other case, no face-to-face property transactions ought to be held.”

“We will certainly cope with this, we are going to be fine,” says Charlotte-area real estate agent, Brian Taylor, owner of Dreamline Realty.

Areas in the state hold the authority to consider whether real estate agents are important to work in this pandemic or not, however, it is affecting the real estate market diversely across North Carolina.

Taylor spent some time working in the property business for 18 years. The outbreak is driving him to count on technologies in obligatory ways that he had not been compelled to before. Rather than attending closings or showings in-person with buyers across the Charlotte area, he is making use of digital walkthroughs and focuses on running the business.

As soon as the outbreak ends, he is inquisitive to see if the market, as a whole, will keep on putting a focus on digital services.

“It is likely to be fascinating as we move out of this outbreak, that what we have been doing for the last 8 weeks could become the new normal. Maybe most of the closings turn out to be digital for purchasers and vendors. That is a thing that we are going to have to observe,” Taylor said.

Taylor expects his company’s online business will pick the necessary backup by the summer season. He says the springtime season is one of the most crucial times for real estate agents because there is usually a slight increase in business. The outbreak is forcing a gradual start.

“Evaluating figures from last year to today, our figures are down to most likely 50 %,” Taylor said in response to his daily business process. “In my estimation, once the outbreak clears through, we are going to get a whole bunch of vendors hitting the industry and a lot of purchasers hitting the marketplace.”

Despite the fact that we're coping with this outbreak, there are possibilities today. Mortgage rates are at historical levels. Therefore, if you are planning on refinancing your property, there is a possibility there.

Vendors are still putting their properties in the marketplace for sale, and we buy houses in Charlotte, NC. And if you are searching for a house in a particular local community that you have been planning to get into, now could be quite a good effort to make a move on that.