Business As Usual: Real Estate and the New Provincial Lockdown

By: Lindsay Smith

Business As Usual: Real Estate and the New Provincial Lockdown

Tags:

real estate, buy sell love durham, oshawa real estate, durham region, market trends, COVID-19, safety, showing your home, lockdown

As we head into another lockdown I felt it would be worthwhile discussing selling or buying a home during a pandemic. Let’s get one thing off the table, Real Estate is considered an essential service and homes are being bought and sold in record numbers. However, the Ontario Association of Realtors has released the statement “While Real Estate is considered essential, it is not business as usual.”

Let’s dig in and explore how it was that 580 homes in Oshawa sold in March/21.

There are a lot of moving parts to a real estate transaction, and a considerable amount of people who are involved when a home is listed for sale or sold. Other than realtors, there are mortgage agents, lawyers, appraisers, photographers, stagers, printing company workers, sign installers… the list is a long one.
When the first emergency orders came into effect in March/20 a series of protocols were established to ensure the safety of all the parties involved in a Real Estate transaction. This is a short list of some of the safety protocols:

Here is a link to the recommended protocols set forth by the Ontario Real Estate Association.

 Along with these protocols our team has established these extra safety steps:

With the current emergency orders in place, our offices are closed to the public with only direct employees allowed inside. This does make for a few hurdles in negotiating property sales. In the past when an Offer to Purchase was submitted on one of our properties for sale, we would meet with the Sellers, either in their home or at our office, however today we are more likely to do most of the negotiation over the phone and signatures collected electronically, or meet quickly once an agreement had been reached.
Over the past year, I have sold properties for clients moving out of Province, for financial reasons, retiring and downsizing, dealing with a family member passing away and people taking advantage of a brisk market. One truth this pandemic has identified is that Real Estate is a business that does not take “breaks.” We are fortunate to be able to work helping people who have needs independent of the challenges we are all living with.
If you have any questions on the above information, or if you see a Real Estate emergency on the horizon, I can be reached at lindsay@buyselllove.ca