MIAMI — The MIAMI Association of REALTORS (MIAMI) is hosting the South Florida Virtual Open House Showcase (SouthFloridaOpenHouseSearch.com) event on May 1-10 to provide consumers virtual access to property tours, more than 500 open houses, and direct interaction with Realtors and other industry experts while adhering to the Center for Disease Control and Prevention’s recommended social distancing guidelines during COVID-19.
“Real estate is an essential business in Florida, and MIAMI Realtors are ready to assist you safely,” MIAMI Chairman of the Board Jorge Guerra Jr. said. “MIAMI has equipped our members with leading-edge technology and tools to service their clients during COVID-19. Our members have already sold many homes using virtual technology, and this open house showcase will virtually highlight for consumers available listings while staying safe.”
The South Florida Virtual Open House Showcase includes the following:
- Cinco de Mayo MEGA Happy Hour, May 5, 2020 from 11am to 6pm – consumers are invited to tour MIAMI Realtors Open Houses and to interact with MIAMI members via live streaming.
- Virtual Open House, May 1-10, 2020 – join a MIAMI Realtor for a Virtual Open House, a live streamed event that allows attendees to tune in and interact live from their personal devices. This interactive experience allows consumers to ask questions and interact directly with a Realtor.
- 24/7 MIAMI Realtors Virtual Tours – prerecorded tours of properties provided by MIAMI members, available to view 24/7 (no interaction with agent). Virtual tours include but are not limited to photos, video walkthroughs, 360/VR views and interactive floorplans
- Live Chat with Real Estate Experts – consumers can ask real estate experts questions related to homebuying, including lenders, appraisers, inspectors and more.
- RIGHT RESOURCES, RIGHT NOW – whether buying or selling, MIAMI Realtors are equipped with the latest and best products, tools, services and resources to serve consumers right now.
The Virtual Open House Showcase relaunches MIAMI’s South Florida Virtual Open House Program virtually. While COVID-19 is expected to temporarily impact home sales on a global level, MIAMI remains optimistic the robust fundamentals of the South Florida housing market will minimize the impact, and sales activity will resume later in the year, as things normalize and pent-up demand builds.
Interest Rates at All-Time Lows for Homebuyers
Current interest rates make purchasing a home an excellent decision. Interest rates are at near all-time lows, and some lenders are extending lock-in rates for up to 90 days.
According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 3.45% in March, down from 3.47% in February. The average commitment rate across all of 2019 was 3.94%.
Through virtual open houses and tours, homebuyers can shop from the comfort and safety of their own home. They can ask for video and virtual tours or schedule a personal video walkthrough with their Realtor.
Homebuyers can request additional photos and examine floor plans. Many listings offer 3D tours, which present a digitized walkthrough of the home. A virtual walkthrough of the house allows remote buyers to feel like they are there. The Realtor giving the tour can communicate any features that are hard to see in still photos.
Moving companies are also considered essential business. Homebuyers should remain patient as the home-buying process is taking longer than usual. Mortgage lenders are busier than usual since many homeowners want to refinance during this time, so it is smart to begin working with a lender as early as possible to avoid any delays in closing.
About the MIAMI Association of Realtors
The MIAMI Association of Realtors was chartered by the National Association of Realtors in 1920 and is celebrating 100 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations, the Residential Association, the Realtors Commercial Alliance, the Broward-MIAMI Association of Realtors, the Jupiter Tequesta Hobe Sound (JTHS-MIAMI) Council, the Young Professionals Network (YPN) Council and the award-winning International Council, it represents 52,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 223 international organizations worldwide. MIAMI’s official website is staging.miamirealtors.com