Why Virtual Showings in Milwaukee is Important to Stabilize the Housing Market

The lockdown is playing havoc with the hot housing market of Milwaukee, and this effect has property agents preferring virtual showings of their properties. According to the report released by GMAR (Greater Milwaukee Association Of Realtors), in the second quarter of 2019, Milwaukee's real estate market was on peak in terms of buying and selling, but now is experiencing a slowdown. 

In a month to month comparison, it is found that sales would fell to 5% as compared to the figure a year-ago quarter and would be down to 5.8% in June 2020 as compared to June 2019.

Milwaukee’s Housing Market

When it comes to the Milwaukee housing industry 2020, it contributes greatly to understand a bit more information about Milwaukee. Milwaukee is actually Wisconsin’s largest city and the fifth-largest town in the Midwestern USA. It is located on the western shoreline of Lake the state of Michigan. So, if we evaluate its projected population of around 600,000 individuals, it's the 31st most important city in the USA. Having all this in your mind, it's obvious to see the reason why the town is in endless need of new real estate property.

Having bought a 6, 230-square-foot house in Mequon before the 2008 real estate crash, nobody has to remind Josh Liberman ( an Australian investment firm) about the good and the bad of the housing market.

Since it ended up being quite a nerve-wracking situation, the moment he listed his same property for sale on March 15, he said, "The bottom has started falling out of the economic world. "

"Most people were starting to get really bothered that they would not hold the wherewithal in order to buy a brand new property, "Liberman said. "If people are advised to stay at home... are they gonna be able to visit the property to look at it?"

Liberman was privileged, though. He acquired an offer within a few days, although less than the sale price from 2019.

Since buyers and sellers like Liberman get anxious, the regional housing market is confronting an abrupt slowdown.

Milwaukee's real estate business has slowed due to lockdown, which has realtors going for a virtual showing.

Digitizing The Buying and Selling Homes

Even though realtors are viewed as important in Gov. Tony Evers' stay-at-home order, they have had to drastically change the way they do business on a daily basis. In order to buy houses in Milwaukee, WI, it is important for prospective clients to go virtual to look at the homes.

On Thursday, a real estate agent from Falk Ruvin Gallagher visited a Bayside property and called the potential clients over FaceTime rather than doing a conventional in-person visit.

The Greater Milwaukee Association of Real estate agents is informing local realtors to do as much business virtually as possible. GMAR said associates are "totally agreed with that. "

The couple of firms who still undertake in-person showings of occupied properties, GMAR said, have been demanding property owners to leave with all the cupboard doors open so that potential buyers do not touch anything in the home.