Blog

The Toronto real estate market has seen sales drop by 69% in the last four weeks according to
Canadian Mortgage Trends. The impact of social distancing and self-isolation have clearly taken their toll on the once vibrant property game. In fact, at the beginning of 2020, it was poised to have a stellar year with prices heating up to levels not seen since 2016. What, given the current situation and possible future of continued social distancing, will the Toronto real estate market look like once we turn the corner on this pandemic?

Should directives for social distancing remain in place, it is evident the technologies that facilitate virtual home visits will see an uptick in popularity. Virtual home tours and 3D tours are one of the best ways to showcase a property so that potential buyers get a real sense of what the home has to offer and what it is like to walk through it. The advantage of these “virtual” open houses tours is that buyers can ask questions about what they are seeing and get immediate feedback. Agents can also give commentary and point out highlights as they go along.

Another technological innovation that has come into use recently is the virtual open-house using platforms such as Zoom or Messenger. Buyer’s either join a scheduled open house and can “walk-through” the property with the agent in real-time along with other buyers or they can request a private walk-through just for themselves.

With the start of social distancing, many brokerages and agents have also ceased accepting checks as payment – moving forward, you can expect these measures to remain in place and for all monetary transactions to be done electronically.

After the pandemic, agents who wish to go back to conducting open-houses will likely have to schedule time slots for their buyers so that listing agents can minimize the number of visitors to the home at a time.

It is clear that things will have to change following the pandemic, however, there will always be a way around whatever safeguards are in place for our health. Agents and brokers will find the tools necessary to assist buyers in finding the right home for their families.

Toronto residents are being asked to social distance, to avoid gathering in groups and, if possible, to find alternatives to open houses when showcasing a new property on the market. While agents are being encouraged to use virtual tours and online galleries to display the homes they have listed, if your agent does want to hold an open house for a limited number of very select and serious buyers, then finding a way to to make the situation work for you is imperative at this time.

Here a few guidelines to follow if your agent insists on an open house:

1. Provide gloves and masks at the door that anyone who enters has to wear before setting foot in your home. Don’t forget to put a bag-lined garbage bin outside your home so that prospective buyers can discard the gloves and masks on their way out. And, have a pump bottle of hand sanitizer available as well so that people can disinfectant their hands before leaving.
2. Have a welcome mat at the foyer where people can remove their shoes so that they don’t track any potential germs around your home.
3. Insist that only one couple at a time be allowed into your home – it would be best to set-up meeting times at 20-minute intervals so that people don’t all come at once.
4. Ask your realtor to minimize the number of people touching your fixtures and handles by pre-empting and opening closets and doors for prospective buyers and closing things after they have looked inside.
5. Allow only those buyers who have a serious interest and/or intent on your home to visit. They should be prequalified for a loan and ready to make an offer if they want to attend the open-house. By insisting on intent, you will weed out the serious buyers from those who just want to look around.

After the open house:

– Wear gloves and a mask to dispose of the garbage containing used gloves and masks.
– Spray the hand sanitizer with disinfectant spray if you want to keep it or discard entirely.
– Roll up the welcome mat and store outside for a few days to kill any germs before bringing it back inside.
– Disinfect all door/cabinet handles, light switches and any other surfaces that would have been touched during a visit.
– Mop floors with a disinfectant.
– Open windows to air out rooms.

If you follow these simple precautions, you should be able to protect your home from any unwanted germs being tracked in during an open house. However, the first and best alternative is a virtual tour of your home. When done properly a virtual tour can be as realistic as being there in person. Contact Imaginahome for more information on how a virtual tour of your properties can work for you.