COVID-19: The 6 most frequently asked questions in real estate right now
At the moment, new health measures are being added constantly and information is spreading at lightning speed. Our services, home visits and the real estate market, it’s normal to have questions! We want to take a few moments to provide some answers.
Since day one, DuProprio has been closely monitoring the government’s directives and taking the necessary measures to comply with them. Despite the health situation, some people must buy or sell a property, and our team is still working to help our clients adapt to this new reality, while also following public health rules.
Here are answers to the questions we are asked most often.
1. Why sell now?
Because of the health measures, many buyers put their plans on hold. Most of them have started looking again when real estate activities have resumed on May 11 —some surely with a sense of urgency. It is worthwhile for owners wanting to sell to do so now, since these buyers are taking the market by storm.
2. What is the crisis impact on the real estate market?
Property visits were strongly discouraged by the government for some time. As a result, the real estate market have slowed down. But since May 11, there are lots of visits and offers to purchase all over Quebec.
This strong demand have probably keeped selling prices fairly stable. It might even have boosted prices for some types of properties in some areas. The longer-term effects will depend on how long the crisis lasts and what impact it will have on Quebec families’ finances.
3. What is DuProprio’s position on home visits?
Since real estate activities have resumed while complying with the social distancing directives issued by the public health authorities, there are some hygiene measures that must be followed when a visit becomes necessary.
However, we recommend that, before even planning a visit, our clients start talks with potential buyers by email, phone or video call. The primary purpose of these discussions is to make sure that the property really meets the buyer’s needs. Once that’s established, an in-person visit can be discussed.
4. Is it possible to have an open house while respecting the social distancing guidelines?
The measures to take during an open house are generally the same as for a planned visit. For instance, it’s important to minimize the number of people inside the home, wash your hands and maintain a 2-metre distance from others at all times. If several people arrive at once, they must be able to wait outside.
One thing that is different from a planned visit is that, at an open house, you must ask visitors whether they have travelled in the last 14 days and whether they have any COVID-19 symptoms. If they answer yes to either of these questions, take down their contact info and plan a visit for later.
5. Is DuProprio still open for business?
Yes. Our teams of advisors, coaches, notaries and appraisers have all been transferred to tele-work. So, our clients can access our services 7 days a week.
To continue to respect the guidelines, our representatives are now attending initial marketing appointments while following the hygiene measures issued by public health authorities. They can now take photos and create virtual tours of our clients’ properties.
6. Is it possible to close a real estate transaction right now?
Yes. It's possible, since all the real estate professionals have been back on duty since the lockdown.
Do you have any more questions? Contact our team at 1-866-387-7677 for answers.