Real estate agents adjust to industry changes during coronavirus pandemic

If you’re in the market to purchase a house, sell, or refinance your home, then you’ll want to pay attention to this report.

Posted: Mar 31, 2020 6:10 PM
Updated: Mar 31, 2020 6:25 PM

The State’s executive order is keeping real estate brokers from personally showing houses, but that’s not stopping agents from selling. Mohawk Valley Association of Realtors Executive Officer Ann Rushlo explains how realtors are able to keep the market active.

"We’re relying much more on electronic means than ever before. Not only for document signing to list a property, but also you know those virtual tours that the realtor took a video of the property, and that’s now the only way they can show it to someone," she said.

Hunt Real Estate Salesperson Tess Johnson recommends sellers take the time to declutter, pack, depersonalizing your home, paint, and of course deep clean everything. She believes you also may want to consider waiting to list your home.

"It is much of our responsibility to make sure it is marketed out there properly, so I am waiting to list properties to make sure that it hits the market in the best way possible," she said.

Low interest rates have many considering refinancing, and there are others who are going through hard financial times looking for a way to stay financially sound. If you’re thinking about refinancing or making any kind of deferral payments, consider speaking with your lending institution first. Tom Neumann is the President First Source Federal Credit Union. He explains some of the financial choices you may want to consider. 

"For consumer loans it actually is an extension of loans, and for many of our home equity products it is also, but when you have escrow or some of these other situations on a real estate loan, it complicates that piece, so the best option clearly is to make your payment if you can. If you cannot do that, that’s why on a consumer loan the extension will only push it to the end of the loan. So you’re not going to have an extra payment. It’s going to extend the term of that loan, but on a real estate loan, call, we’ll look at accommodation of forbearance, repayment, or modification so that we avoid you having that big hit right at the end of your forbearance period," he said.

Remember that everyone’s financial situation is different, so consider the advice of a professional before making any long-term decisions.

New York Coronavirus Cases

County data is updated nightly.

Confirmed Cases: 370770

Reported Deaths: 29784
CountyConfirmedDeaths
New York City20330321569
Nassau403962122
Suffolk396431901
Westchester334811371
Rockland13151631
Orange10406444
Erie6070516
Dutchess3909139
Monroe2942216
Onondaga2170131
Albany186076
Ulster168574
Sullivan138731
Putnam125260
Niagara103763
Oneida102746
Schenectady68929
Broome56644
Rensselaer49128
Saratoga48014
Columbia38732
Madison31610
Warren25528
Steuben24141
Greene23818
Washington23513
Orleans22933
Fulton20818
Ontario2079
St. Lawrence2042
Genesee2024
Tompkins1640
Chemung1371
Chenango1330
Tioga13021
Livingston1197
Wayne1153
Oswego1093
Herkimer1083
Clinton954
Cayuga911
Montgomery914
Cattaraugus880
Wyoming865
Chautauqua844
Delaware794
Jefferson740
Otsego725
Seneca580
Schoharie500
Allegany450
Cortland410
Yates396
Essex370
Franklin220
Lewis200
Schuyler110
Hamilton50
Unassigned00
Utica
Overcast
44° wxIcon
Hi: 65° Lo: 50°
Feels Like: 44°
Oneonta
Overcast
43° wxIcon
Hi: 63° Lo: 49°
Feels Like: 40°
Herkimer
Overcast
44° wxIcon
Hi: 65° Lo: 51°
Feels Like: 44°
Thendara
Overcast
44° wxIcon
Hi: 57° Lo: 45°
Feels Like: 44°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
Click here to learn more about A Healthier Mohawk Valley
Saluting Those Who Are Proud 2 Serve
Senior Send-Off brought to you by Herkimer College
Menu 2 Go list of takeout dinners & fish fries
Apply to Go the Distance 2020
23 courses for only $79.99