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Realtors Adapting to Changes During a Pandemic

Posted at 4:48 PM, Apr 04, 2020
and last updated 2020-04-04 23:25:39-04

TULSA, Okla. — Mortgage bills, providing meals, and staying clean; all things homeowners are worried about as the coronavirus continues to spread.

Realtors across the nation are having to make some changes, especially for home buyers coming in from other states.

Hundreds have lost their jobs and are wanting to refinance and sell their homes.

Luckily, Realtors were classified as essential during the coronavirus pandemic.

"My job does not come with a paycheck," Holli Woodward said. "We are commissioned selves. SO unless we are working with buyers and sellers, then we are not getting paid. A lot of people don't understand that."

Holli Woodward is the 2020 President of the Greater Tulsa Association of Realtors.

She says the housing market is still pretty busy in the metro Tulsa area, but it's lower than it has been in the last few years.

"Probably about six weeks ago, mortgage interest rates dropped to drastic levels about 2.75 and 3 percent," Woodward said. "So our mortgage market saw more refinances a few weeks ago then it did for the entire year of 2019."

Woodward says her biggest fear is how quickly the housing market fluctuates, but they have adjusted.

Giving people 45 to 60 days to close instead of 30, and reasoning with people who allow buyers in their homes.

"When we are going to a home to show, we would normally just go up there and open the key box, things have changed, drastically," Woodward said.

As for the housing market in Tulsa, she says it's the ifs.

"If we were to come to a point, if people aren't listening, if people aren't saying at home or following the guidelines, and they shut everything down, then yes, there are some concerns then," Woodward said.

While Woodward's biggest concern is people, and their action, Carol Pankey-Davis says her real estate company is seeing Tulsan's trying to sell their homes, so they don't lose them.

"We have people who want to get their homes on the market before they go into bankruptcy, we have people who are moving here because they need a place to live, so the real estate market is very important," Pankey-Davis said.

Pankey-Davis has been working in real estate for nearly twenty years. She says she believes because of the coronavirus that the listings have fluctuated.

More homeowners aren't looking to sell their homes now because of safety concerns.

Carol tells us , "The fear is there, but before we go on our showings, we do buyers consultations, we are letting them know what we are up against."

They are taking the necessary precautions when showing a home; the realtors have added masks, gloves, cleaning precautions, and even virtual tours into their daily routines.

"Every seller is different. We do have some sellers that are just wanting to put things on hold based on COVID-19, and then some of our sellers are willing to be out of the property so that we can take the proper precautions", Carol says.

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