As the coronavirus spreads, it’s not business as usual for real estate agents:
Agents must be mindful of their obligations under the Fair Housing Act, and be sure not to discriminate against any particular segment of the population, the guidance states, noting: “While the coronavirus outbreak began in Wuhan, China, that does not provide a basis for treating Chinese persons or persons of Asian descent differently.”
Kong said an open house that he was scheduled to hold March 7 was canceled because the homeowner has two children with health issues. “She was concerned that if people came through their home, it might expose the children to the virus,” he explained. “You’re seeing much more of this. So with this particular unit, I’ve shown it twice, but I have to screen potential buyers seeing it. I have to ask if they’ve traveled, do a background check on who they are, just to be really more cautious.
Kong said his team has been busy with open houses in Manhattan, but activity has been slower in Queens and Long Island. “I think maybe because it’s homes versus apartments,” he said. “I’m not sure why, but people are a lot more hesitant to have open houses. Whether or not I believe the coronavirus is as bad as people make it out to be, obviously, a lot of people are concerned. And at the end of the day, a lot of people don’t feel as comfortable having strangers in their home.
Yun noted that the latest survey of Realtors is “implying in the short-term at least that home sales will be chopped by around 10%, compared to what would have been the case, due to the spread of coronavirus.” Lou Izzo, broker and owner of Select Sotheby's International Realty in Saratoga Springs, New York, said the epidemic is clearly a hot topic. “It seems that everywhere I go, the coronavirus is a daily topic because of the amount of press and coverage that the virus is getting,” he noted. “That said, we are not seeing a significant impact in our buyer or seller behavior at this point.
Staci Donegan, associate broker at Seabolt Real Estate|Christie's International Real Estate in Savannah, Georgia, said she is seeing more activity in the lower price points due to the drop in interest rates. “I had an investor that was looking at an investment property mention concerns of the coronavirus but thought that the impact on tourism here in Savannah would be temporary if at all.
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