Last month I touched upon the ways we have shifted our marketing and sales activities to ensure the safety of all while meeting the needs of our clients. As I write this, it seems that the Vancouver market is still strong in most categories, with an even more limited supply of new listings available.
All agencies have adopted some form of waiver for both sellers and buyers to acknowledge risks, with showings being done on a very limited basis and virtual tours, facebook live open houses and technology such as 3-D matterport tours available for the buyers to really screen the property before booking a showing.
Now more than ever, a well structured plan for marketing a property is required, along with clear timelines and the understanding that the pace of the market has not really changed, the average days on market for most Vancouver Condo’s in the past month has still been under 20.
As a buyer, be prepared with your pre-approval updated, especially if your job situation changed in the past 60 days. Also be prepared to conduct the majority of your due diligence ahead of being able to view the property.
So, what is the new normal for Vancouver Real Estate? Bring and wear your own mask for showings, let your agent know if you do not have one so it can be provided to you ahead of time. Ask the Listing agent to open any cupboard doors, and be respectful of items in the home.
Be aware that showing times will be limited and be on time for your appointments. Be aware that until further notice, tenanted properties will have limited flexibility for access and if considering a home with a tenant in place, be prepared to assume that tenancy, as the prohibition on giving a tenant notice for Owner Occupancy will probably continue for at least another few months after the Emergency Order is lifted.
So there you go, this is the new normal…..any questions please reach out. I love hearing from you.