As the 2020 spring real estate market kicks off, agents, brokers and consumers are facing a different kind of headwind: the coronavirus (COVID-19).
Even though mortgage interest rates have dropped dramatically, providing a dream landscape to buy, COVID-19 concerns are creating uncertainty. According to a recent NAR flash survey, which was conducted March 9-10 among 70,036 NAR members, 11% of agents have indicated a reduction in buyer traffic and 7% have reported a decrease in those interested in selling.
As news of COVID-19 continues to develop, precautions are being taken throughout the world. And since real estate is a people business, eXp Realty agents and brokers are fortunate to have a few virtual tools to tap into, which will help minimize person-to-person contact while still conducting business to keep the transaction moving forward.
Here are some of the virtual tools to help agents serve their clients, available as part of eXp’s Preferred Partner program:
Tour a Home Virtually
Using eXp 360 Tours powered by eyespy360, eXp agents can lead their clients through a home via a mobile phone, laptop, tablet or any device that offers browsing capabilities. Buyers can tour homes virtually with integrated live video chat with eXp agents.
“It’s exactly like viewing a property in person, but without actually having to leave the house or office,” said Joel Colvin, an eXp associate broker based in Ruston, Louisiana.
“I can do live tours by combining our eXp 360 Tour and video chat to show a property without ever bothering or interfering with the seller’s schedule.”
VirBELA, which created eXp’s cloud campus and builds immersive technology platforms for businesses, events and education, developed VirBELA Team Suites, which allows agents to meet and consult with clients virtually.
The space offers the sensation and experience of having an in-person meeting and conversation. Office layouts are customizable and agents can apply their own branding and office displays for the suites. Tech support and board rooms are also part of the Team Suites package. Learn more about Team Suites here.
Secure a Mortgage Online
Mortgage or refinance applications can be submitted electronically using IntroLend First Cloud, eXp Realty’s national mortgage partner. Download the IntroLend mobile app to get started.
Do a Closing Remotely
No need to visit the title or escrow office. Silverline Title and Escrow is trusted by the nation’s largest financial institutions for its security and compliance and offers secure digital services to close from wherever your client is located.
Sell a Home Via an iBuyer
If your seller wants to skip the process of staging, open houses and showing their home altogether, Express Offers may be a great solution. Express Offers is an eXp World Holdings company and provides home sellers with an instant offer platform that allows multiple cash offers on a property.
Through these virtual tools and platforms, eXp is able to move business forward while keeping agents and clients safer. However, we do know how important it is to engage with clients in person. Here are some tips from NAR that we think are worth sharing.