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.

Cases: 1268692

Reported Deaths: 41368
CountyCasesDeaths
Queens1586837871
Kings1555098073
Suffolk1285802603
Nassau1149692563
Bronx1062535275
Westchester850201806
New York759653449
Erie522281381
Richmond451561384
Monroe44318769
Rockland31884810
Orange28848656
Onondaga27755533
Oneida16811349
Dutchess16757319
Albany16343257
Niagara12143244
Broome11108259
Saratoga926782
Schenectady8660127
Ulster7745192
Rensselaer6874104
Putnam652174
Chemung5603108
Chautauqua560163
Oswego491469
Ontario473082
Steuben4595131
Cayuga443270
Sullivan384149
Wayne368852
Genesee366499
St. Lawrence363060
Herkimer360357
Cattaraugus340061
Jefferson321423
Madison314976
Livingston270440
Tompkins265723
Cortland264254
Columbia249571
Allegany236675
Montgomery223075
Tioga220654
Clinton218018
Wyoming217443
Fulton211353
Warren206240
Greene205859
Orleans191969
Chenango175842
Otsego167123
Washington150224
Lewis149524
Seneca123246
Franklin11479
Delaware100920
Essex98019
Schoharie8975
Yates82617
Schuyler71610
Hamilton1461
Unassigned46109
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