Home Buying and Selling

Social Distancing Home For Sale Real Sign

Real Estate is an Essential Service

Social Distancing and Real Estate

Since March we have been practicing social distancing and it has had us make some adjustments to how we operate our real estate business. Since these measures were put in place, they have caused many business to close, and because of this, many people have wondered whether or not real estate is in fact an essential service.

The truth is, REALTORs are an essential service, as it has been classified in both Canada and the U.S., some believe that it isn’t an essential service. While that might come from a good place, it just isn’t true. The consequences of closing down this type of business would be detrimental to so many and for many reasons.

RE/MAX

It’s true that RE/MAX lobbied and continues to lobby for real estate during this time, that it is an essential service. With some agents advertising to their clients to hold off on selling, it’s important to understand that in a normal situation, waiting isn’t an option for many people.

One issue is that when someone has already sold their home and now has to look for a new one. It’s can be true that many of Canada’s housing markets were in the sellers territory earlier in the year, and with a low housing supply and a growing demand. it has motivated a lot of homeowners to list their property.

Anther issue is that, for some, it might be that they have to sell to finance the new home they’re already agreed to purchased. There might be a situation where a family is living in a precarious place, and have no choice but to sell and move. Other reasons could be that the neighbourhood has crime or there are unsafe conditions within the home, these issues along with many more, might be what forces someone to sell.

Spring 2020

It was reported recently that Canada’s unemployment rate in March 2020 reached 7.8%, that’s up from 5.6% in February 2020. Also, incomes are down, while monthly bills continue to come in.

This Spring has made it clear that the real estate market is not as busy as it would usually be. This is due to the fact that there is a global pandemic, preventing Open Houses to take place. The real estate industry has taken steps to ensure the safety of clients and REALTORs, but using virtual tours and other technologies to limit face-to-face contact.

Real estate agents have been able to adapt their business procedures to make sure they are following the guidelines set out by the government. These include digital listing presentations, virtual open houses and showings, video conferences, e-signatures and more. RE/MAX agents have been doing completely digital transactions, and clients have been open to these new ways of conducting business.

Contact Lori VanDinther

If you’ve been thinking about selling, buying, or have any questions about COVID-19 safety measures, please contact Lori today. We know this is an unprecedented time, Lori and her team are working hard to make sure clients safety is number one. 

Canadian Real Estate Market Home Sweet Home Welcome

The Canadian Real Estate Market Continues During COVID-19

The Canadian Real Estate Market

We’re all living through an unprecedented time and lots of people are wonder how this is effecting the Canadian Real Estate Market. And in this time of social distancing, it can be hard to see how the real estate market will fare. However, there are still sellers that need to sell and buyers that need to buy.

And there are some excellent solutions out there to help ensure the process isn’t interrupted. With the help technology we can continue to see the Canadian real estate market transactions continue.

There’s Great News For Buyers

There is a silver lining to COVID-19 in regards to the real estate market. That if it’s financially possible, this could be the perfect time to buy a house. Since the interest rates are at their lowest that we’ve seen in years. This lower interest rate is in response to COVID-19 by The Bank of Canada. They cut interest rates for Canadian’s by a full percentage point in March.

As a result of this lower percentage, home buyers that are looking to obtain a mortgage can now expect to be able to borrow at a lower rate. And with this fixed term mortgage rates also on the decline, home buyers now have the flexibility to borrow/move. They can also aim for a higher price or get a better mortgage rate with less expensive mortgage payments.

Technology and Real Estate

There have been some major leaps in technology which has ignited a shift in the real estate market. It’s now so easy to learn more about a home, condo, townhouse and any other kind of listing. Simply by going online and in many cases getting to have an entire walk through while still in the comfort of your own home.

These virtual tours allow the buyer to see the home and really get a feel for it. And during this time of social distancing, we need this type of technology more than ever. There could be a market increase in both recreational and serious buyers on this online marketplace. That’s why agents should make sure that their listings are well detialed.

360 Virtual Tours

Now is a good time to find a photographer that specializes in 360 tours and use them for your listings. More and more agents had been are starting to do this already. These tours create a captivating experience for your potential buyer.

You want to make sure that your tours are navigable, interactive and controller friendly. The ultimate goal here is that the virtual tour will replicate the experience of having an open house or a walk through. During this time, this is a highly recommended tool. And even after this period in time, it’s an excellent piece of technology to have in your tool box.

It’s Time To Go Paperless

Going paperless is never a bad idea, it helps the environment. And during this time of COVID-19 there really isn’t any other choice. There are numerous apps that you can use to make this process as easy as possible.

These apps allow signatories to sign a PDF or word document, using your phone or tablet. Many real estate agents have already been using these apps and they work wonderfully. You can ensure your clients that they can continue to work with you and safely social distance.

Face-to-Face Is Now Screen-to-Screen

We’re all practicing social distancing so having a face-to-face meeting just isn’t possibly anymore. So using the power of technology we can bring meetings to the comfort of our own homes. And there are lots of apps that are user friendly that you can use. Some of those apps are FaceTime, WhatsApp, Zoom and there are many more.

These screen-to-screen meetings can be much more effective than phone calls. And these types of calls can even be used to show the home to the potential buyer as well. You’re able to walk them through it and show them more than what the listing has and offer a more detailed look inside the home.

Contact Lori VanDinther

The pandemic we are currently living through is unprecedented and it’s important that we’re all taking precautions. I want to make sure that my clients are comfortable, safe and that we are meeting their needs.

If you have any questions regarding the real estate market or how we are working to meet the needs of our sellers and buyers, or if you’re interested in selling, please contact me today. I know that we will come through this time stronger and by supporting each other, we’re keeping ourselves safe and our communities as well.

Selling your home with Real Estate Agent

Why You Should Hire a Real Estate Agent To Sell Your Home

If you’re a homeowner and you’re thinking about selling your home, definitely hire a real estate agent. Although there are websites that will allow you to sell your home without the listing agent, by marketing your home as “for sale by owner” (FSBO). And although you may save some money by not having to pay a fee to the real estate listings brokerage – you may not be doing yourself a great service. It may not be your best move!

Understanding today’s real estate market and knowing how to sell your home for top dollar is not so simple. And it may not be something that many of us are prepared to do. There will be a lot of work in managing the sales process, ;legal work, papers, and in the end saving some money may not be worth it.

So why should you leave it to the pros?

Pricing your home

Real estate agents know best how to price your home. They have access to real statistics and data which allows them to perform a proper market analysis and look at the comparable homes. This is key, if you want to price your home right. This will also determine how fast you’ll sell your home and how much you’re going to get in the end. Don’t just settle for some website to tell you how much your home is valued. It’s a big sale transaction. Hire a professional. You’ll be glad you did.

Sales and marketing strategy

Selling homes takes effort. Not only does your home have to be de-cluttered, presentable and clean, but it also has to be listed, staged, shown to potential buyers etc. A real estate professional will take care of all that and more. They will take lots of good photos, make videos and put together effective home feature sheet. They will list the house on MLS, their own websites and social channels. They will hold open houses, setup for sale signs, do walk-throughs and deal with any positive or negative comments about your home. All this to get your home noticed by a potential buyer and sold for top dollar in a short time.

Negotiating and closing the sale

There is a lot of negotiating, paperwork and legal stuff that has to be done before a home is considered sold. Your agent will understand the process really well, and have experience to avoid common pitfalls. They will have access to a real estate lawyers to carefully review the purchase offers and conditions and offer advice. Your real estate agent will also screen potential buyers, to make sure that your home is going to be sold to someone who actually has the money or is pre-approved by the reputable mortgage lender — before taking the home off the market.

This isn’t an exhaustive list of all the duties and responsibilities that seller’s agent has to perform. A successful real estate agent usually has a team that coordinates the sale of your home from begging to the end. Also, your agent can also be helping you buy your new home or transition into something else.

Knowing that you’re in the right hands, when we’re talking hundreds of thousands of dollars, is a good feeling. Definitely hire a real estate agent when selling or buying your home. You can’t afford not to!

Thinking of selling your home in Burlington and surrounding area? Call Lori VanDinther, or visit loriv.com to learn more about her home selling services.