Local realtors look forward to a phase two bump

first_img(WBNG) — With real estate agencies set to reopen when the Southern Tier moves into the second phase of the New York Forward plan, local brokers say they are ready to get back to business, and they hope potential buyers and sellers are, too. “Limited in person showings would allow one agent and up to two people who are the potential deed holders, they would have to be the buyers, to be able to walk through houses for sale,” he said. “That’s what we need as an industry right now.” “A lot of people have said to me ‘does it make sense to list my house right now?’ and I say yes it does because there are so many people trying to get in them.” Farrell says this isn’t necessarily bad news for the buyer. “The busiest time of year in the real estate industry is in the spring. People have planned to list their home, people have planned to buy their home, so there’s a lot of pent up demand,” he said. Farrell says he predicts reopening will come with new restrictions such as PPE requirements and limits on the number of people allowed to see a house, but the opportunity to move away from virtual showings will be a huge step forward. “We’re going to hit the ground running, safely securely but professionally so you’re going to see a real estate market like you’ve never seen as far as the quantity of buyers and sellers out there,” he said. Burns says he expects this to result in what experts call a seller’s market. center_img John Burns of Keller Williams Realty of Greater Binghamton says both brokers and sellers have good reason to be hopeful as the Southern Tier approaches phase two of reopening. Farrell says one thing he is certain about is that getting back to business will be good news for the industry. “I don’t expect prices to increase exponentially, I don’t think we’re going to see a huge real estate boom because we’re a very typical flat market and we like it that way,” he said. Both brokers tell 12 News that once they are given the green light to offer more in person showings, PPE and frequent sanitizing will be a top priority and larger scale events like open houses will remain off the table for now. Robert Farrell of EXIT Realty Homeward Bound says the COVID-19 crisis has brought the industry to a near stand still. “There is a scenario where our sellers are comfortable with buyers walking through unaccompanied,” he said “They’ve allowed some of that to happen but we need to be careful that we’re not taking more liberty than we are allowed.”last_img

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