The Business of Real Estate during COVID-19

Realtors have been deemed an essential service by the government of BC and while it isn’t quite business as usual, it’s not too far off. 

The current market trends in Vancouver show a large reduction in the number of active listings and sales that you would typically see in a spring market, but we are still seeing sales and new listings come through.

In my opinion, the majority of buyers and sellers will wait until the BC government outlines the steps and timelines associated with getting back to a normal or near normal working economy before they become active in the real estate market again. 

To help our clients navigate the buying and selling process through these unprecedented times, we are following strict safety protocols and doing as much due diligence as possible before showing appointments.

Sothebys International Realty Canada, BC COVID-19 Documents

Typically, we’ll pre-screen the parties coming to view a property, have them sign a Covid compliance waiver and ensure all appropriate safety precautions (gloves/masks) are taken for the showings. 

Open houses won’t return for a while, so the new trend realtors are utilizing are  Matterport tours (see example here) and live virtual open houses.

These both allow potential buyers to get a very good view of a prospective property from the comfort of their homes and can help to ensure we’re not encouraging any non-essential contact. 

We’ve added some of the Covid documents and literature we’re utilizing to the website and I’d be happy to answer any questions or concerns you may have. 

I know we’re all looking forward to getting back to business as usual, but until then, please rest assured that if you need to buy or sell a property, realtors across the province are ready and willing to help you safely navigate the process.