Real estate industry returns

By David Fleet
Editor
In March the real estate industry was moving along just fine.
Then the coronavirus arrived in early April and buying or selling a house was generally not considered an essential activity under the stay-at-home order imposed by Michigan Gov. Gretchen Whitmer.
On Thursday that changed.
Gov Gretchen Whitmer signed an executive order on May 1 that will allow for construction businesses, real estate activity and other outdoor jobs to resume on May 7.
Whitmer says the order is part of a phased plan to reengage the Michigan economy but one that will also require businesses to step up and ensure the safety of their workers. In the construction industry, businesses will be required to follow state guidelines on maintaining a safe work zone.
Jason Gault, of Real Estate One, 875 S Ortonville Road, Ortonville said agents will be able to go back to limited duties.
“Agents will still be working remotely to the greatest extant possible, however we are now able to conduct certain activities in-person,” said Gault. “We will be able to visit a home to complete a new listing, take photos, measurements, install the sign and lockbox. We will still be using virtual services like Zoom and Docusign to meet with clients and sign documents when we are able. No public open houses are allowed at this time.”

Homes will be shown to prospective buyers with the following caveats: the sellers must approve in-person showings; buyers must be pre-qualified; no more than four persons (including the agent) are allowed in a home; maintain social distancing at all times and abide by CDC guidelines; encourage the use of gloves and masks and discourage the touching of surfaces while in the home.
“We will be using technology where we can for client meetings, virtual showings and open houses, as we are unable to meet clients in person at the office for the time being. Moving forward the way homes are bought and sold is going to look and feel a little different, at least for the near future. The underlying market and the real estate economy though still looks very similar to eight weeks ago. There will be some short term effects, but the outlook is very positive for a steep recovery slope. Pent up buyer demand will help kick-start the market again starting this weekend.”
Jeff Dawley, owner of Atlas Real Estate 8491 S State Road, Goodrich said consumer confidence is key.
“We have some pent up demand for homes,” said Dawley. “Interest rates are good, while not at an all time low but are very attractive. Still, buyers need to have a full time job to qualify for a mortgage. After we get back to what ever normal is, the key is consumer confidence, are they going to spend money on big items? Are they going to be aggressive or gun-shy? It’s too early to say. An inventory shortage is not going to change.”
However, home ownership is going to be priority for many, added Dawley.
“Some people who have been sitting in an apartment are going to want to own a home now,” he said. “There’s a pride of ownership push that is coming.”

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