Q: How has the coronavirus transformed the market?
A: I don’t think you would get the same answer twice no matter how many real estate agents you ask. It is the Wild West with very little rhyme nor reason. With COVID creating question marks everywhere, buyers and sellers are more determined about their price points. I’ve sold properties site unseen, which is nerve racking. I’ve also put in a number of offers based on video walkthroughs. What I can say is everything you would expect to be happening based on sales history is exactly what is not happening. Some sellers are willing to deeply discount their properties, whereas I’ve had others increase the asking price. From what we discussed, if you work hard and find the balance between minimal follow up and straight-up being annoying you can do very well. You have to be ready for anything and roll with the punches.
Q: Do you expect the momentum to continue into fall?
A: I see no signs of the real estate market slowing down. My schedule has been booked with people coming from out of state to buy in Florida, and many of those prospects have postponed, only to have their appointment times filled by others.
Q: What kind of properties have been most popular?
A: The most popular places on the Island are in-town Single Family Detached home ranging from $4M to $20M. In-town Condos at all price points are in demand so long as they have a view. The lack of inventory is the only thing slowing sales on the Island.
Q: What advice do you have for buyers and sellers?
A: The pre-2019 Guidebook to Buying Real Estate is out the window. Even last year we had an incredible off season. Don’t come to 33480 or any local zip code expecting to get an insane deal and shuffle through different realtors. Sellers become offended by low-ball offers. We, as realtors are legally bound to present all offers, but that doesn’t mean it will be well received. Listen to your agent so long as he or she answers you directly or says “I’ll find out and circle back.” If it appears he is guessing, then you should run.