Pellegrini & DeGeorge Partners are at the forefront of utilizing technology to keep our clients and our team safe, while ensuring that real estate transactions are completed smoothly and efficiently. Check out our website for the steps we are taking for your safety and protection. You can also view virtual tours for all of our listings on our YouTube channel.
Humans have been adapting to changing circumstances since the first human walked the earth. The current pandemic conditions are no exception. We are constantly adapting how we do our jobs, how we educate our kids, and even how we buy groceries. Telemedicine is mainstream now, and family celebrations are held via Zoom or FaceTime.
Real estate is no different. The real estate market is still humming, albeit a little more slowly than a typical Spring market. People still have various reasons to move that don’t stop with a pandemic, so the real estate industry adapts. Here are just some of the ways we have been changing our practices in order to comply with social distancing guidelines. If you are thinking about buying or selling, it’s a good idea to know what to expect as we navigate these unprecedented times.
Virtual Meetings
Just like you may be meeting with your own clients or colleagues via conference call or video conference, your agent may offer to meet with you virtually, instead of in the office or at your home. In many cases you can even meet with loan officers virtually as you begin the mortgage process. Professionals can utilize a variety of secure services to conduct consultations.
Leveraging Online Tours
Even prior to the COVID-19 pandemic, the National Association of Realtors has reported increasing usage of the Internet for home searches. Buyers across all age groups and economic means now regularly use the Internet to initiate searches and select homes to tour. And, of course, agents will also utilize email to send listings to their buyers. While virtual tours are fairly prevalent, they have increased in importance during social distancing. The interior pictures and virtual tours are vital for sellers to communicate the unique features of their home, and for buyers to approximate an in person home tour. Pellegrini & DeGeorge Partners is taking the virtual tour concept a step further. For our buyers, we will actually visit the home and provide an in-person video tour in real time, so that buyers can ask questions or look more closely at the home. Update (4/24/2020): We even do virtual open houses!
Document Signing
The availability of technology has opened up the documentation process to allow for a virtually no-touch process. From loan documentation to contracts, it’s possible to upload documents or sign papers electronically through secure portals. Of course, rules may vary slightly from state-to-state, but technology has certainly reduced the need for in-person meetings.
Funding Escrow
Getting your funds for closing to the title company may depend largely on title company policies and local regulations. You may be able to pay some of the expenses, such as certain fees, over the phone with a credit card. You also can wire funds directly to the escrow company from your bank account. If you prefer to avoid electronic delivery, you may be able send a cashier’s check via the USPS, or arrange for a courier to pick it up. Ask your agent for the available options 0 if you need something specific, they may be able to help.
Closing
Doing a complete closing of a first mortgage virtually may be a bit too futuristic. However, some title companies are coming up with creative ways to allow for social distancing during the closing process, since gathering around a conference table is out of the question. Check with your agent or lender on what you should expect from the particular title company used for your closing.
Only time will tell how many of these virtual adaptations will continue once our world goes “back to normal”. It’s possible that some proceses may become more commonplace, while others will disappear entirely. No matter what processes are used, we will walk you through every step of the way! Susan Pellegrini and Karen DeGeorge are ready to put their care and expertise to work for you. Buying or selling, our first-class service comes with a wealth of experience and eye for detail, ready to focus on you. Visit our website to learn more and contact us or give us a call at (480)- 315-1575, we’re here for you.
