Spring Has Sprung in the 2024 Real Estate Selling Season

Spring Has Sprung in the 2024 Real Estate Selling Season

The real estate selling season is in full swing.
Typically, the greatest number of home showings take place from the start of Daylight Savings Time through July, making right now PRIME TIME! Home closings tend to peak in July, after the greatest number of showings have occurred.
If you remember the classic “Candid Camera” TV show hosted by Allen Funt, featuring hidden cameras capturing staged comedic scenes, you might recall the bulky, hard-to-hide cameras of the 1950s and ’60s. Fast forward to 2024, and video and audio recording equipment is incredibly compact and affordable. With the surge in doorstep deliveries during the pandemic, package theft has risen dramatically, leading to the prevalence of doorbell cameras in home security setups.

 

The ease of setting up recording systems in homes brings challenges in the real estate marketing process, highlighting the seller’s right to property protection.

It’s important for listing agents to inquire about active recording systems at the time of listing and, if present, notify showing agents and buyers about recording during showings. This notification can be made through postings in the MLS, at the home’s entrance, and inside the property. Buyers uncomfortable with recording can choose not to view the home, potentially leading to lost showings for sellers.
From a legal standpoint, a buyer who loses out in a competitive bidding situation could potentially claim a camera was used to discriminate against one of the protected classes identified in the Federal Fair Housing Act. Sellers should discuss this with their attorney and REALTOR® before deciding to record audio and video of a showing.
Buyer’s agents need to inform their clients that even if no notice has been given about a showing being recorded, it’s best to assume that it is. Video and audio monitoring devices are now so small that they can be hidden almost anywhere. A recording of an interested buyer could give the seller information about the buyer’s level of interest, what price they might offer, and their top offer.
As a buyer, a best practice while on a showing is not to display any emotion while viewing a home and refrain from discussing pricing or potential offers until you are in private. “What you say can be used against you,” and in this case, it can affect your negotiating ability. Wait until you get in the car to discuss any of those topics. Just like the seller, buyers should consult with their attorney and REALTOR® about recordings during showings.

By Duane Duggan. Duane graduated with a business degree and a major in real estate from the University of Colorado in 1978. He has been a Realtor® in Boulder since that time. He joined RE/MAX of Boulder in 1982 and has facilitated over 2,500 transactions over his career. Living the life of a Realtor and being immersed in real estate led to the inception of his book, Realtor for Life. For questions, e-mail [email protected], call 303.441.5611 or visit www.BoulderPropertyNetwork.com

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