At the forefront of this pandemic is one word—home—so it comes by no surprise that the real estate market is still active. Life has changed for Illinois residents with the Stay at Home order in place. And in that time, they may discover they would like a little more space, an extra bathroom, or even a dedicated office. And just like that, the online property search begins. Buyers are finding homes they love, signing contracts and working with lenders to secure financing. Technology has allowed real estate to forge ahead, and continue business with title companies streamlining processes to make closing as seamless as possible.
While people are adjusting to their new routines, many are searching for ways to keep everyday life moving forward. We asked our Dream Town broker community to chime in and share some of their recent experiences. Dream Town broker, Hadley Rue, is using this time to connect with his clients. “It’s about communicating; I call my sellers every day. I’ve also sent flowers to many of my clients to brighten their homes.“ Amy Oetter has taken a similar approach with her clients. “We have to be there for our clients in different ways. Checking in on their wellbeing, and reassuring our past clients we are there for them. Real estate in my mind is more about the people than the properties, and here we are seeing how true that belief really is.”
Many brokers are reporting business as usual, even amid the uncertainty. “I have properties under contract both with buyers and sellers, all of those deals are moving forward” states Brian Grienenberger. Mary Summerville has offered a piece of advice to her first-time buying clients to assuage fears, explaining “If you love the place and are planning to stay for 3 to 5 years, you’ll see the market bounce back. It always does.”
Ultimately, sellers must determine what makes sense for them. Brokers acknowledge that this may be a stressful time in their clients’ lives, and are diligent in providing them with the most up-to-date marketing information. At the end of the day, rates are still low and real estate remains a stable—and thriving—investment.