Good time to sell real estate

Anyone looking to sell their property is choosing a good time: prices and demand are high. Sales can be carried out without problems, even during the pandemic. Now more than ever, it's advisable to consult a real estate agent who is well-connected and familiar with hygiene requirements.

The effects of the pandemic are also evident in Saarland: due to working from home and limited social distancing, people appreciate their homes more than ever. As a result, the demand for housing is rising. This is confirmed by local real estate agents like Max Makler of Max Makler Immobilien. Knowledge of the local real estate market, the available properties, and achievable prices is more important than ever. Social distancing and hygiene rules have also become essential in the real estate industry; agents are increasingly relying on digital tools. Consultations with sellers and prospective buyers are now also available by phone or video conference. Initial viewings can also be conducted virtually, with 360-degree panoramic tours or live video recordings.

More digital applications in marketing

“Since the beginning of this exceptional situation, we have noticed an increasing acceptance of this technology in our company,” explains Harry Mohr, Broker Owner of the RE/MAX real estate offices in Saarlouis and Merzig. “Consumers are often familiar with these applications from their work in a home office or already use WhatsApp’s video function privately.”

All prospective buyers who subsequently wish to view the house or apartment have a heightened interest in purchasing it. During this in-person viewing, measures are taken to ensure that only the prescribed number of people enter the freshly ventilated building. Before and after, frequently touched surfaces such as door handles and stair railings are disinfected. This guarantees the highest level of safety, especially when the property is still occupied. These are things that private sellers, who usually only sell a property once in their lifetime, rarely consider.

High demand in all real estate segments

The RE/MAX real estate team has observed for weeks that demand for residential properties is rising across the board. Prices have often increased – despite, or perhaps even because of, the pandemic. During the lockdown in the spring, many people considered moving to a larger apartment with a balcony or a house with a garden. Many know that they will be able to work more remotely in the future and will no longer have to commute to the office every day. Therefore, in addition to city apartments, there is increasing demand for houses in rural areas or in the commuter belt of major cities, which involve longer travel times to the main urban center. The fact that interest rates remain exceptionally low makes the purchase decision easier.

The situation could worsen in the medium term

Many experts anticipate that the situation could worsen in the coming months. Banks are already scrutinizing financing applications more closely. While before the coronavirus crisis, high-earning couples could obtain loan approvals even with little equity, they now have to prove they have approximately 20 percent of the purchase price in savings. Furthermore, the number of corporate bankruptcies could rise in the medium term, leading to an increase in the unemployment rate. This could put downward pressure on real estate prices.

Anyone who has been considering selling a property for some time should get started now: the timing is perfect. It makes sense to use experienced service providers from the local business community. This helps avoid many mistakes: good real estate agents determine the asking price, market the property to the target audience through appropriate channels, handle the paperwork, answer numerous inquiries from potential buyers, conduct viewings with pre-qualified prospective buyers, and prepare the notarized purchase agreement.

The first step in selling a property is determining its value. This is difficult for laypeople. Understandably, property sellers don't want to make mistakes here, as a lot of money is at stake. Therefore, they should definitely seek expert advice.

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