Covid-19 and the Greater Toronto Real Estate Market

Real Estate is listed as an essential service- but it’s not “business as usual”.

What does this mean for our clients and our team? What if someone MUST buy or sell right now and what commitments are we keeping to our clients and our community?

Real Estate has been deemed “an essential service”. At a first glance, perhaps some may think this isn’t necessarily true. The fact is, many people have already bought and listed right before COVID19 was even a dialogue in our community. They will need to sell now and as a result, there may be a trickle effect of new buyers/sellers that also come onto the market. Circumstance may also put people into other unique predicaments where they must buy or sell. From that perspective, Real Estate is definitely an essential service, and we as Realtors must serve our clients during this challenging time. It is however, not business as usual. Our brokerage as well as RECO and all our governing bodies have made it clear to everyone in our profession that we should not be soliciting new unnecessary business. We’ve been receiving daily updates on new rules and regulations and clauses that have come into the picture for any future transactions, including for example, a clause allowing for a 14 day closing date change in the case that anyone in a transaction becomes ill with COVID 19. Open Houses are no longer allowed, a decision we agree with, and we are being encouraged, wherever possible, to keep the process virtual and electronic.

What if I MUST buy or sell right now in the current climate of COVID19?

If you are in a situation where you absolutely must buy or sell, we can still help you through the process. First of all, please know that any pre-qualifying meetings etc will all be held online only and not face to face. If the matter is not urgent, we do recommend that you wait to list. If that isn’t the case, we will work with our marketing team to create online virtual tours for your property and both buyers and sellers will have to sign several disclosures indicating that you have not been out of the country in the last 14 days or have shown any signs of illness. This must be signed before entering each property as it is a time sensitive contract. There are many steps that we as a team as well as our industry have been coached to take for proper showing procedures, home inspections, offer process etc. Bottom line is this: if you can wait to buy or sell right now, that’s what we recommend. If you must buy or sell, we have rules and procedures in place to make that happen safely for you. Give us a call (289-218-8119) or send an email to and we’ll set up a call or video conference to explain all this in more detail and help you establish a plan of action.

What if I’m just considering options or preparing for a future purchase/sale?

The one thing this unprecedented situation has offered us is more time than usual. And the one thing that we are usually struggling with when working with clients? You got it- time! You may be thinking of purchasing down the road after things settle. If so, now is an excellent opportunity to get yourself set up with your bank or a good mortgage broker to begin the approval paperwork. We would be happy to schedule a virtual meeting with you to go through the process so that when things return to normal, you’ll be ready to go. We do find that taking the time to prepare & discuss important details prior to a purchase/sale, definitely improves the client experience. Now may not be the time to jump on all things real estate, however,  if a move is in the back of your mind, call us today so we can be prepared to act on your behalf when the dust settles.

Also, please remember that we are happy to be a resource for you and your friends/family. We’ve had a few clients call in the past few weeks to ask questions, worried they are wasting our time. We are here to help and happy to answer any questions you may have, even if a move isn’t even on your radar. It’s nice to connect! Especially during these socially isolated times. Please feel free to give us a shout! We’d love to hear from you!

Our Teams’ Promise and Commitment to you and our Community:

These are trying times. We want you to know even though Real Estate has been deemed an “essential service”- we do not take this lightly. COVID 19 is an unprecedented situation and we are so grateful for our front line people: health care workers, grocery store workers-the list goes on-  these people are all putting their lives on the line for us. So when we say that it’s not “business as usual”, we mean that. We have a responsibility to our community & we are taking this seriously. We want you to know that we are here for you to answer your questions, and as a resource in general. If you have any questions or concerns, you can reach out to us anytime. We are happy to chat. Stay Safe & Healthy!