Episode Transcript
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0:02
Hello everyone. This is the keeping it real
0:05
in real estate show and I'm your host,
0:07
Kathy Blakey. I'm a realtor
0:09
with century 21 a marketer,
0:12
entrepreneur and nature enthusiast.
0:14
In this podcast series, I'm going
0:16
to take you on a journey as we explore topics
0:18
in real estate, including the market mortgages,
0:22
common inspection issues, sustainable
0:24
future and more. Are you a homeowner or future homeowner?
0:28
Do you like saving money, enjoy healthy
0:31
living? Then this podcast series
0:33
may be for you. Stay tuned
0:35
as we go deep into these topics and
0:38
don't forget, subscribe, like and share.
0:43
Welcome to this special edition of buying
0:46
and selling virtually. As of this recording,
0:49
we have "stay at home orders" related to
0:52
the COVID 19 pandemic. In
0:54
some States, we're conducting limited
0:57
real estate activities for those
0:59
who truly need to buy and sell.
1:01
This special edition is dedicated
1:04
to tips for buying and selling virtually.
1:08
Most of us have bought and sold real estate
1:10
the traditional way ... viewing photos,
1:13
scheduling appointments, and going and looking
1:15
at home after home until we find the right
1:17
one. Recently, we've
1:19
also been able to use more
1:22
virtual tools, 3d tours,
1:25
photographs, video, and aerial views.
1:27
All of these tools have significantly
1:30
increased our ability to do
1:33
preliminary home shopping online
1:35
. During this
1:37
pandemic, for those who truly
1:39
need to move, we can
1:41
to take that to a whole new level as
1:44
an extension of what tools are in
1:46
place and making the best use
1:48
of those. In
1:51
today's episode, I'm going to be covering five
1:54
key topics and
1:56
the first three are going to have to deal with
1:58
buyers and then the next two have
2:00
to do with sellers. So
2:03
for buyers , we are going to be focusing on three
2:05
topics: visually shopping,
2:08
informational shopping and exploratory
2:11
shopping. So for visual shopping,
2:14
this is using Google earth photos
2:16
as provided by the listing, virtual
2:19
tours, 3d tours, even
2:22
FaceTime and zoom. All
2:24
these video tours that you
2:26
can see what's going on with
2:28
the property and take
2:30
a look if this is the type of home that will meet
2:32
your needs. Also, floor plans
2:35
to the extent that they're available are also
2:37
helpful. So
2:40
when you're using these tools, you want to look at Google
2:42
earth, you want to see what's around your home, your
2:44
potential home. Take a look at yard
2:46
sizes in shopping for homes.
2:49
I find buyers w ill go
2:51
to a home in person and learn
2:53
something about that home that really they may
2:55
have already been able to find out online
2:58
just by pulling up the aerial view and
3:00
taking a look at the surroundings.
3:03
So for some of the things that you're going to be looking
3:05
for in the visual
3:07
tools, you'll want to make
3:09
yourself a wants and needs checklist
3:11
so that you know what's important to you. Sometimes
3:14
cabinet color may be important type
3:17
of flooring, maybe important whether
3:19
the home has updates or not. The
3:22
yard view, whether it has a deck.
3:24
All of these things can be determined
3:26
by looking at the photos. Sometimes
3:29
it's difficult to determine the room size
3:31
from the photos because of the wide angle lenses
3:34
and the photographs being taken
3:36
to showcase as much of the property
3:38
as possible. What you can do to overcome
3:40
that is take a measurement
3:43
of a room size within your existing
3:45
living space and then
3:47
compare that to the multiple listing service
3:50
or what other service that
3:52
you have for the listing where it has the room size
3:54
is listed and if they're not available, you
3:57
can ask your agent for those dimensions
4:00
to help identify if the
4:02
home is going to be big enough space for
4:04
whether it's the master bedroom, the kitchen,
4:07
the primary living area. A common
4:09
concern is whether the furniture will
4:12
fit, so these again can all be done
4:14
through visual. The
4:17
next topic is going to be using the
4:19
information available, so
4:22
there's going to be a variety of sources of
4:24
information and let's start
4:26
with the seller's disclosure.
4:28
Carefully review the seller's disclosure.
4:31
That will give you insight to the
4:33
type of systems. Tell you if there've
4:35
been any issues with the systems,
4:38
can tell you if the age of the systems
4:41
as well as other common topics
4:43
like water intrusion
4:45
problems with the roof, anything.
4:48
It's going to help you to rule
4:50
out whether this is a home for you or not.
4:53
Using the information that's available.
4:55
Also, the listing detail can
4:58
tell you the types of systems,
5:00
again contained within it. It can tell you
5:02
room sizes, it can tell
5:05
you lots of things
5:07
that you may want to know. You'd
5:09
be surprised when buyers
5:11
are going on a tour and
5:14
looking at multiple homes all in one day
5:16
and only to find out that several
5:19
of those homes, you know didn't
5:21
meet the minimum requirements of their
5:23
wants and needs to begin with. So
5:26
knowing what your wants needs are ruling
5:29
out the homes, you by process
5:31
of elimination based on the information that's
5:33
available is one really good way
5:36
during this virtual touring
5:38
to help identify a home that's going to be good
5:40
or not good for you. Another source
5:43
is going to be public records. Not
5:45
all counties have the same level of information
5:47
available electronically on public records,
5:50
but to the extent that your County does utilize
5:52
it, you may find out when the
5:54
systems have been updated maybe before the current
5:57
owner own the property. By
5:59
taking a look back into public records, you
6:02
can see when permits have
6:04
been issued and we'll give
6:06
you some more insight as well. So
6:09
the next topic is exploratory.
6:12
We talked about using the visual
6:14
aids that are currently available through
6:16
maps, Google earth, virtual tours,
6:19
photographs, all that is currently available.
6:22
We have informational, which is information
6:25
it's currently available through the listing and through
6:27
the disclosures. And what I think
6:29
the next phase is for any
6:31
home that you're seriously considering is
6:33
exploratory. So during this
6:35
environment where we need to transact
6:39
as much virtually as possible,
6:41
we may be taking this to a whole nother level
6:43
where we're creating custom questionnaires
6:46
for the sellers, things that aren't available
6:48
through the standard photographs,
6:51
things that are important to you to know about
6:53
a home, like the slope of the yard.
6:56
And that's not always going to be available
6:58
on a standard seller's disclosure.
7:00
But it's something that you may be important
7:03
for you to know and you may also
7:05
consider having your realtor
7:07
or the seller create a
7:09
custom video for
7:12
the types of questions you have. For instance,
7:14
you may want to see
7:16
what the basement walls look like. You
7:19
may want to know whether there's an eagerness
7:22
window in the lowest level.
7:24
There are things that are not necessarily going
7:26
to be available in the standard photographs
7:30
or on the seller's disclosure, but
7:32
are important to you. So
7:34
exploratory would be the next level.
7:37
It may be asking for an audio
7:39
of the floors. You know, having
7:41
someone walk through the property and
7:43
have the audio turned on so you can know whether
7:46
the floor squeak, if that is an issue
7:48
for you. Maybe it's an older
7:50
home and you're not sure if the
7:52
floors are level asking those kinds
7:54
of questions. Probably
7:58
the biggest hurdle to overcome
8:00
virtually is going to
8:03
be the other senses like
8:05
smell that's going to be
8:07
subjective. Many homeowners
8:10
who have been living in their home and may not even know
8:12
that they're to smell. What do you do about
8:14
that? You can use your questionnaire
8:17
to ask if they have any pets. You
8:19
can ask if there's been any water
8:22
damage which could indicate you know, mold
8:24
or mildew. And then
8:26
the next level from there might be
8:28
to have an air quality test as
8:31
part of your standard agreement if you
8:33
choose to move forward with any
8:35
offering on the property. So I'm
8:37
sure there's a lot of considerations
8:39
for anyone who is thinking about purchasing
8:42
a home. Virtually. It is
8:44
done, it's done through relocation,
8:46
through military relocation site
8:48
on scene . It has been done
8:51
while before COBIT 19 and
8:54
it's just a matter of getting and all parties
8:56
being transparent. And that's
8:58
going to be key for both buyers and sellers.
9:03
If you are a home seller who
9:05
needs to sell your home during this time
9:08
and you're considering putting it on the market,
9:11
there are some things that you can do to
9:13
help facilitate this. And so
9:16
as I mentioned, transparency is key.
9:19
Providing as much information as you
9:21
possibly can for a potential
9:23
buyer, filling out your disclosures
9:25
thoroughly, accurately and
9:28
come up comprehensive information. You may
9:30
even take it to the next level, which
9:32
is providing a
9:35
home inspection prior to listing. That
9:37
may even include an air quality
9:40
test just to give that extra comfort level
9:42
to the buyer to know that you
9:45
know some things that maybe they weren't able to
9:47
use their senses for, that you've provided
9:50
a clean air quality test, providing
9:53
a list of upgrades that you've
9:55
done which is above and
9:57
beyond what a seller's disclosure may be
9:59
asking you for. And then if there
10:01
are any issues, you know, taking the extra
10:03
time to document those to give
10:05
the comfort. The
10:08
next item for sellers is flexibility,
10:11
either allowing or participating
10:13
in custom videos, taking
10:16
it to the next level virtually to allow
10:18
for things that you don't normally take
10:20
a photograph of to be photographed.
10:23
Questionnaires from buyers being responsive
10:26
and transparent and
10:28
these are the types of things that will help buyers
10:30
get comfortable with your home and
10:33
provide for the ability for
10:35
real estate to still be conducted virtually
10:38
through this pandemic. For those who
10:40
do need to buy or sell, thanks
10:44
for listening in today. Just wanted to
10:46
provide as some information for
10:49
anyone who is in need of buying
10:51
and selling, that you know that there
10:53
are things that can be done. We all
10:55
need to think outside of the box and
10:58
realize that this is not the
11:01
normal transaction. This is not
11:03
the normal traditional way
11:05
of buying and selling, but it can be
11:07
done and it can be done through
11:09
creative means as well. As
11:11
you know, again, just continue to
11:13
say it, transparency
11:15
and flexibility, both buyers
11:18
and sellers to get through this time
11:20
and we as agents also
11:23
need to be responsive, transparent,
11:26
and flexible and creative.
11:29
So if you have further questions, contact
11:31
your realtor. If you do not have
11:33
a realtor and you are in
11:36
Delaware, Maryland or Pennsylvania, feel
11:38
free to contact me and stay safe.
11:42
Thanks for tuning into this episode of
11:44
keeping it real in real estate with Kathy
11:46
wakey as your host. For more information
11:48
on this episode or others, visit
11:51
w w w keeping
11:53
it real info.com
11:56
there you can find information about becoming a guest
11:58
speaker, episode notes and contact
12:01
information for the guest speakers. You
12:03
can also connect with me on social media by
12:06
using the key terms. Kathy
12:08
Blakey, realtor, find me on Facebook,
12:10
Instagram, LinkedIn, or YouTube.
12:13
If you'd like to subscribe to this podcast, you
12:15
can find it on iTunes, Google play,
12:17
Spotify, and more. Thanks for listening.
12:21
As a disclaimer, this show is not intended to be
12:23
a replacement for professional advice for specific
12:26
issues related to your real estate transaction.
12:28
Please consult with your qualified realtor, mortgage
12:30
broker, home inspector, or real estate attorney.
12:32
Thank you.
12:37
[inaudible] .
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