Update From The Stein Team

To our clients, friends and colleagues,

We hope you are staying safe and healthy during this most unusual time. We are in uncharted territory and as a Team are doing all we can to be creative about how best to service our clients. 

We are seeing changes within our business daily, even hourly. As local and state governments tighten rules and recommendations, we can expect continuing changes to the industry’s landscape.

Just in the past week, we have seen almost every aspect of our industry shift. 

Some examples are below:

• Public open-houses are prohibited
• Private showings are highly discouraged (even by appt with buyers being pre-screened for illness and travel)
• Virtual tours and 3D web-tours are being utilized more than ever (however, most virtual tour vendors refuse to film unless the home has been vacated)
• Most staging companies are delaying any new installations
• Buildings are taking further steps to stop moving in or moving out, renovations and capital repairs, and all other non-essential maintenance work – essentially limiting traffic to only essential personnel
• Board Interviews are being conducted vie Skype or Zoom video conferencing services
• Remote Closings
• Virtual Walk throughs
• We are seeing a small % of buyers walking away from deposits, or renegotiating on closing prices, or requesting extended closings 

In doing our part to stop the spread of Covid-19, we are not showing property for the next two weeks. After which we will re-evaluate based on new events. We are setting up video tours and hiring virtual tour vendors to “image” many of our properties. We are staying in touch with the brokerage community and continuing to keep dialogues open on behalf of our buyers. We are meeting (virtually) with potential sellers and discussing what we see is the best path towards achieving their goals in an ever-changing environment. 

As always, we are here for you. Please do not hesitate to reach out with any questions or concerns. We will be in close communication to keep you up to date on changes to the real estate market and industry as a whole.