REAL ESTATE & COVID-19

How will COVID-19 impact the real estate market in Canada? | MoneySense

To say the events of the past few months have had an unprecedented impact on how our society functions would be an understatement. As the threat of the COVID-19 global pandemic grows across Canada and all levels of government enact policies to stop community spread via social isolation, millions of Canadians in the non-essential workforce are now working from home and abstaining from visiting businesses and other public places.

Real estate in the time of COVID-19

When CREW was putting together its most recent Property Forecast issue last fall, every economist we spoke to hinted at the potential for a recession in 2020. Trump-fuelled trade uncertainty would be the most likely culprit and the effects, while uncomfortable, would be minimal.

OREA: End open houses during COVID-19 outbreak

Realtors in Ontario should immediately stop holding open houses during the province’s state of emergency over COVID-19. That’s the call from the Ontario Real Estate Association (OREA), which issued a statement Saturday urging real estate professionals to use technology for home showings instead.

Millions of Canadians already missing payments due to COVID-19

We are still relatively early in the coronavirus crisis but already many people are missing payments. A new report from insolvency practitioners Bromwich+Smith with Leger Research has found that 49% of households in Ontario and Alberta, and more than half in British Columbians, have suffered an immediate income reduction since the crisis began.

COVID-19 could spur a rash of consumer insolvencies in Canada

Canada’s insolvency rate will spike up should the ongoing coronavirus outbreak persist, according to Scott Terrio, manager of consumer insolvency at Hoyes, Michalos & Associates. In Ontario alone, consumer insolvencies swelled by 17.5% on a year-over-year basis last January. This came in the wake of a year that had the second-highest number of annual consumer insolvency filings ever in Canada.

TRREB – Updated: Open Houses, Showings & COVID-19 Best Practices

It is understandable that real estate open houses and showings are of concern to many, due to the uncertainty we’re faced in dealing with COVID-19.

Ce que les courtiers et agents devraient savoir au sujet du COVID-19

We understand you may have questions and concerns about doing business now that the outbreak of coronavirus COVID-19 is declared a pandemic by the World Health Organization. In response, the Canadian Real Estate Association (CREA) continues to take precautions in making sure its employees and members remain safe.

What REALTORS® should know about COVID-19

Editor’s Note: Since this post was published, efforts to help contain the spread of COVID-19 have rapidly evolved. We recommend REALTORS® refer to Health Canada or other public health authorities for up-to-date guidelines, restrictions and precautions. We understand you may have questions and concerns about doing business now that the outbreak of coronavirus COVID-19 is declared a pandemic by the World Health Organization.

Coronavirus: A Guide for REALTORS®

The coronavirus pandemic continues to impact the real estate industry. Everything, from brokerage operations to how listings are being marketed and the ability to close transactions, is requiring REALTORS® to adapt to these extraordinary circumstances. The National Association of REALTORS® (NAR) understands that these unprecedented circumstances are impacting our members’ ability to conduct their businesses.

TRREB MOVES TO STOP REAL ESTATE OPEN HOUSES DURING COVID-19 PANDEMIC

TORONTO, March 21, 2020 (GLOBE NEWSWIRE) — The Toronto Regional Real Estate Board (TRREB) issued a strong recommendation to its 56,000 REALTOR® Members to stop conducting in-person open houses during the Ontario COVID-19 State of Emergency.

COVID-19 means big changes for realtors, home buyers and sellers | CBC News

The real estate market is facing fallout from the COVID-19 pandemic, as home sellers, buyers and real estate agents struggle with trying to conduct business requiring at least some personal interaction amid calls to stay home.

What Coronavirus (COVID-19) Means for Real Estate Agents

Learn how to adapt your business and stay connected to clients It feels like we’re living in a never-ending series of breaking news updates. Over the last two weeks, the Bank of Canada cut the overnight rate, schools in certain provinces were cancelled, travel advisories came into effect, and the Bank of Canada cut the overnight rate again.

Federation of Ontario Law Associations – Real Estate Law | Federation of Ontario Law Associations

FOLA’S Real Estate committee will meet via telephone/video conference and/or email, as necessary. If you or someone from your association is interested in helping, please contact Merredith MacLennan at merredith.maclennan@stewart.com . It is no longer required to view an “original” identification document in order to use the document to verify an individual client.

FOLA – Real Estate Transactions and Covid-19 – County of Carleton Law Association

Dear Real Estate Representatives, Association Presidents and Library Staff: FOLA has been receiving calls from real estate lawyers wondering what to do about upcoming real estate closings in light of the unprecedented circumstances we are in. Please forward this information to the real estate lawyers in your association.

COVID-19: How We Will Safely Serve You

Updated March 24, 2020 A message to Canadians, This is a stressful time for all of us, as together we are facing an unprecedented global crisis. COVID-19 has forced us to adapt to an ever-changing reality as we fight to contain the virus.

Standard real estate practices have turned on their ear due to COVID-19: Royal LePage CEO

Royal LePage CEO Phil Soper says fear of COVID-19 is behind a rapid adoption of new technologies in real estate.

For the Greater Good: RE/MAX and Royal LePage discuss COVID-19 and our Industry – Now We’re Talking Real Estate

In this special episode of Now We’re Talking Real Estate, hear two top real estate executives open up about the industry in a time of crisis – and how we’ve come together without competition.

Realtors push back on non-essential sales, adopt safety measures amid outbreak – OHS Canada Magazine

By Ian Bickis TORONTO – The coronavirus outbreak is pushing some realtors to turn away all but the most desperate clients, while others are adopting extraordinary measures in an effort to help maintain social distancing and stem the spread of the pandemic.

Tarion’s Response to COVID 19 | Tarion.com

In light of the COVID-19 Pandemic declaration by the World Health Organization, Tarion has been taking various precautionary measures and adjusting our operations to ensure the health and safety of our employees as well as homeowners, builders and the greater community.