Q: Now that people are starting to receive vaccines for COVID-19, can I expect buying or selling a home to be more like it used to be?
I’m confident that real estate is not the only industry that would sum up 2020 as an unwelcomed roller-coaster ride. Despite the challenges presented by the pandemic, real estate professionals have found safe ways to support those needing to buy and sell real estate.
With vaccines now in transit and inoculation clinics being setting up, I think everyone is feeling a renewed sense of optimism as we eagerly count down the days until we can ring in the new year.
But it remains essential that everyone involved in, or planning, a property purchase or sale in the coming months understand the continued need to follow the advice of medical authorities and government officials when working with real estate salespersons to establish safety protocols for showing or viewing properties, where and when necessary.
This second wave of the pandemic has sent a clear message that it will continue to present challenges for some time. Even with the release of vaccines, broad distribution will take many months.
As we battle the effects of pandemic fatigue, the temptation to skirt and bend the rules on guidelines and recommendations is understandable. Face masks can be uncomfortable, and restrictions and protocols are inconvenient when trying to buy or sell a property.
Yet they are also vital measures needed to protect ourselves, our families and friends from harm and continue to make a difference in the fight to reduce the spread of COVID-19 in our communities. Each one of us plays an important part in keeping every one of us safe.
Salespersons and brokerages have learned a lot since the start of the pandemic, and they are well-equipped to facilitate near-touchless transactions for their clients. From offering video calls and 3-D virtual tours and walk-throughs, to providing digital documents and electronic signature tools, the profession has risen to the challenge in offering virtual services and respecting the need for physical distancing.
RECO continues to encourage vigilance in adhering to the guidance of government and medical authorities, and discourage public gatherings wherever and whenever possible until further notice. This includes:
No open houses;
Limiting gatherings to permissible limits within regions; and,
Reserving showings for only when necessary.
Remembering that we’re all in this together, as we brace ourselves for a few more loops in this pandemic roller-coaster, will go a long way in working together to keep everyone safe.
Loading…
Loading…Loading…Loading…Loading…Loading…
From everyone at the Real Estate Council of Ontario, have a safe and healthy holiday and a very Happy New Year.
If you have a question about the home buying or selling process, please email information@reco.on.ca.
Joe Richer is registrar of the Real Estate Council of Ontario (RECO) and contributor for the Star. Follow him on Twitter: @RECOhelps
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
