ATLANTA — The Atlanta housing market typically heats up in spring, but home sales are down. Fears surrounding the coronavirus has put some areas of the industry on ice. One of which is live home tours.
Real estate data provider Metrostudy reports a 50 percent drop in foot traffic from new home buyers. Some sellers have pulled their listings due to safety concerns. Most deals are being done virtually.
Nearly a quarter of realtors say they recently had at least one client put a contract on a property without physically seeing it, based on a survey by the National Association of Realtors.
Still, buyers do ultimately want to check out the goods. Real estate agents have taken precautions to adhere to safety and social distancing guidelines.
"We've found ways with cleaning, maybe opening doors that people wouldn't normally open," said Kelly Stephens, vice-president and managing broker with Engel & Völkers. "Not touching closet doorknobs, not opening the fridge, not opening all the cabinet doors, but getting you in where you can see."
If you plan to buy or sell a home, but worry coronavirus issues could impact your transaction, there is some reassurance.
Last month, the Georgia REALTORS approved a COVID-19 special stipulation. It outlines contingency steps and provides safeguards should either party lose financing due to a COVID-19 related event.
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