Q: How are you communicating with clients right now?
A: I call my clients or reach out to them via text or email every day. I keep them up to date with what is going on in Palm Beach in “real time” and by giving them accurate market data.
Q: Have you found virtual showings to be effective?
A: In our market we have done virtual showings with properties that are vacant or unoccupied via Facetime. In this time of crisis, many of our sellers have chosen to quarantine in Palm Beach so we haven’t been able to do as many. Virtual showings are a good way to initially familiarize a buyer with a property, but it’s not a substitute for an actual showing. Real estate is a tangible asset and most Buyers want to see a property in person before making a major financial commitment.
Q: Do you see these day-to-day changes persisting?
A: I think that virtual showings will become much more common—it’s a great tool to help a potential buyer from out of town get acquainted with a home.
Q: What kind of activity do you expect to see in the real estate market when Palm Beach reopens?
A: We had a ton of momentum that started right after Christmas and continued until mid March when our market was put on “pause.” I think when the dust settles, there will definitely be pent up buyer demand. There were many people sitting on the fence about making the move to Palm Beach. Going through an event of this magnitude will push buyers to make commitments as they re-prioritize their lives. What better place to quarantine and live “life” than Palm Beach?
Q: What kind of listings are in high demand right now?
A: The home rental market in Palm Beach exploded when the crisis hit. People flocked in large numbers to Palm Beach seeking a safe haven. Unfortunately, our short term rental market is not setup for this, so tenants were taking anything they could get their hands on and striking longer lease terms.