How to Navigate the Real Estate Market During the COVID-19 Outbreak
COVID-19 has shaken up our lives in Canada and worldwide. Schools are closed, workplaces are allowing staff to work from home, major league sports have halted — it seems like the whole world is in an adjustment phase, including real estate.
Navigating the real estate market is trickier amidst a pandemic, but not impossible. If you need to sell or buy a home during the COVID-19, you can still successfully do so – but with some adjustments.
Real estate boards across the country have recommended that Open Houses stop immediately, and recently the Government of Ontario has prohibited open houses in the province. Due to these changes, Purplebricks has cancelled all upcoming Open Houses and will not post them until this situation is resolved. Open Houses will no longer be promoted through the Multiple Listing Service® (MLS®), REALTOR.ca, or on Purplebricks.ca.
Previously, listing appointments involved our local REALTORS® spending a significant amount of time at the property engaging with home sellers. To support “physical distancing”, we have launched Virtual Appointments conducted by video conference. This allows home sellers to speak to one of our REALTORS® who is an expert on their local market and allows them to list their home for sale from the comfort and safety of their home. Sellers also have an opportunity to showcase their home to potential buyers with virtual tours, instead of inviting them into their property. We have also supplied our REALTORS® and customers with posters that they can use to promote safety for themselves and others, if buyers are touring their homes. Currently, the Government recommendation is no face-to-face contact.
When you receive an offer on the home you are selling or you submit an offer for a home you want to buy, ask your REALTOR® if you can do electronic signatures, rather than in-person. At Purplebricks, we use DocuSign† for all legal documents which makes it easy for our clients to sign from anywhere, and in this case, while practising “physical distancing”.
Rest and Recharge
Keeping our immune systems up to snuff during the outbreak is important. This means we need to rest, eat healthy food and keep stress levels low. These can be anxious times even without an outbreak, so be sure to keep your physical and mental health in check while you navigate the real estate market.
Know When to Press Pause
No one wants to get sick, but it can happen. If it happens to you, rest easy knowing you can pause your home listing with Purplebricks, or put your home buying efforts on hold for the time being.
Need help navigating the real estate market during the COVID-19 outbreak? Purplebricks can help.
If you need to sell your home or buy a home during the outbreak, rest assured that a REALTOR® can help you navigate these murky waters. Purplebricks is here to support Canadians by providing them full-service real estate while saving them thousands in commission when selling their home. As for homebuyers, we share the commission by giving buyers $2,000 in cash back* when they buy a home with us. Call 1-855-999-9740 for more information.