These are difficult times. The messaging coming from every level of government is, stay home. We feel very strongly that staying home is our best chance of flattening the curve and reducing the impact this pandemic is going to have on our collective health, the economy, our health care system and the real estate market.
At this time our advice to clients is that, unless you are in a position where you have to buy or sell, now is not the time to do so. It is almost impossible for showings to be conducted while social distancing measures are enforced and, on top of that, as a client viewing a home you have no idea who has been in that home before you, the level of sanitization or the health/travel history of the homeowner. As sellers, you are introducing strangers into your home, into the space that you share with your family, and you are also unaware of their health or travel history.
We do not make this recommendation lightly, this is our livelihood, but we feel that the health and safety of the public and realtors themselves should be the top priority. We also feel that, at this time, you will not maximize the return on your investment, and the longer it takes to flatten the curve, the more impact it will have on the real estate market in the future.
We understand that there are circumstances in which buying or selling a property is necessary, but there are a number of measures that we would recommend:
limit the number of people allowed into the home at once and the number of showings allowed in a day
no double bookings
the home must be cleaned and sanitized after every showing, particularly lockboxes, keys, light switches and door knobs
make keyless entry available if possible
virtual tours should be made available and prospective buyers encouraged to use them
have as much information as possible available online - home inspections, photos, virtual tours, videos, floor plans etc.
no open houses
have hand sanitizer available and have agents acknowledge that both they and their clients will use it before and after their showing
have all visitors acknowledge that they are in good health and have not traveled outside the country in the last 14 days
everyone should practice social distancing and keep at least a 6’ distance between them
have a sign posted requesting visitors not to touch any surfaces
paperwork should be signed electronically and offers submitted via email
all communication should be done virtually or electronically
speak to a real estate lawyer before buying or selling, and have them review any clauses specific to COVID-19 you may want to add
Again, if you are able to hold off on listing your home we encourage you to do so, but if it is a necessity, please be sure to implement the recommendations above to ensure the health and safety of you, your family and everyone visiting your home.
This is a continually evolving situation so these recommendations could, and most likely will, change over time. We are here for you, so if you would like to speak over the phone or virtually about the market, your concerns or our recommendations, please reach out and we would be happy to set up a time to do so.
Stay safe everyone and please do everything in your power to help flatten the curve. As we like to say, we absolutely will get through this, but it takes a village.
***Since posting this blog, the province of Ontario has deemed Real Estate an essential service, however, the Ontario Real Estate Association (OREA) has made it very clear that this does not mean business as usual. OREA requested this designation to allow transactions to close during this time, and to allow necessary transactions to continue, such as when someone has already bought or sold a property and needs to buy or sell another property to ensure the successful closing of the first transaction, thereby preventing a domino effect. OREA has made it clear that all members are to immediately discontinue face to face meetings (showings, open houses etc.) and all client interaction is to be done virtually.
