How 2020 Shaped 2021 for the Better! Durango, Real Estate and Resiliency

After 17 years as a realtor, I have the experience to say, “Boy! 2020 was a year like no other!” Here’s how 2020 shaped real estate for 2021 (and beyond).

Unparalleled Demand

I typically represent 35 to 45 transactions annually. This year broke all my previous numbers (and records!). I have never experienced this type of demand!

Among the 20 buyers Homes Durango represented in 2020, nine never saw the properties in person before writing accepted offers. Six of those nine new owners didn’t actually visit their purchased property until closing or post closing! We did virtual showings and many virtual closings.

For sellers, there seemed to be no seasonal slowdown. Properties that hit the market in November had just as much (or more) interest as those that were listed in June.

Inventory Crunch

At the start of 2020, inventory was noticeably low. Then when the pandemic hit, Durango was quickly recognized as the perfect place for people to land. The increased demand pushed inventory even more, reaching record low numbers of available, “for sale” properties by December.

Though the numbers show more homes were sold in Durango and La Plata County in 2020, compared to 2019, the supply still couldn’t keep up with the demand. The supply was made up of some new construction, plus many homeowners taking advantage of the sellers’ market to get top dollar for their home.

Additionally, record low interest rates pushed prices moderately higher, and encouraged people to make the move on upgrading one step closer to their dream home. All of these factors meant huge activity and continually low inventory.

Uncertainty Led to Creativity and Technology

By March it was evident that keeping everyone safe was my top priority. With statewide stay-at-home orders and lingering uncertainty, I found creativity in ways that I’ve never believed were possible!

How could we create video content and virtual showings and FaceTime walk-throughs to effectively show a home? It’s difficult to digitally capture the “feel” of a home, as well as the specifications and finishes. Besides, who wants to be on video…ugh?!? So yeah, at first, filming was nerve-racking.

Instead of getting wrapped up in the challenges of  virtual real estate, I realized this was the new reality, and I encouraged the team to keep our focus on where it is “in real life”: our clients.

As we got into the swing of it, I was determined to give my clients the same exceptional experience from a distance as I would if we were on property together. And you know what? It was fun! Even better, I realized just how effective and rewarding this type of real estate experience could be for everyone! Zoom fatigue may be real, but it has been a downright gift for connecting more personally this year.

A New Way to Buy and Sell

Earning my clients’ trust with FaceTime showings was pretty darn exciting and turned out to be successful. Between April 2020 and January 2021, six of the homes I closed were sight unseen by the buyers.

Technology provided the tools that made this possible during a pandemic, but it was communication and experience that closed the deals. Part of advocating for my buyers was helping the sellers and their agents to be comfortable with a virtual buyer. In this brave new world of adaptability, I relied a lot on the confidence that comes from nearly two decades of negotiating.

As you can imagine, there was still a pit in my stomach when my buyers visited their new investments for the first time. Seeing their responses once they walked through their “new” front doors was the best! The hopeful anxiety dissipated into joy! Everyone was extremely happy and felt lucky to be making their Durango dream a reality.

I truly believe this has opened a new door to the way we buy and sell real estate.

Trust and Expertise

This entire virtual real estate process takes special care and expertise. My knowledge of the market and neighborhoods, and a clear understanding of my clients’ lifestyles all play into the success of my business. It’s individualized attention to all of these elements that enable the Homes Durango team to find our clients the exact property they’re looking for.

New digital tools keep me thinking outside of the box and keep me up-to-date with real estate trends across the country.  New approaches keep me fresh, engaged, and energized. They remind me what I love about my work: the creativity and freedom to find new, better ways to support my clients.

The best relationships are built on trust. These digital tools are an opportunity to begin earning your trust immediately. Even when separated by distance or safety protocols, today’s technology enables us to connect on a more personal level than traditional phone calls and emails. It helps me perform faster and more effectively, and allows me to be even more attentive to my clients’ valuable time and hectic schedules.

With Homes Durango, look for more virtual open houses, virtual showings and digital listing presentations, I will soon have an entire digital platform! This is so exciting and efficient.

I hope 2021 finds you creative, energized, and determined as that is what we will need to forge a head and through this crazy time.

Now here’s to a better 2021!