COVID-19 is changing the way we do things

BY JAY BRIJPAUL

The real estate industry, the main engine in our economy, has come to a screeching halt. The health authorities recommend that, to ease the spread of COVID-19, we must avoid being in close contact with each other. Real estate is a multifaceted industry involving many, from buyers to movers. Each is an important gear but with social distancing, the gears cannot unite. It is best if buyers and sellers can postpone their decisions until the virus settles. However, there are many who are caught in the middle and must proceed.

Sellers sell must take the following precautions:

1. Know who is coming over. Realtors should ensure that the prospective buyers have not been out of the country for the past two weeks or have been in contact with anyone who might be infected.
2. Prepare the home for showing. Leave a note on the front door asking everyone to use hand sanitizer or wipes before going through the home. Turn on all lights and open all internal doors. Ask realtors to oversee that their clients do not touch anything. Step out during the visit on the driveway, giving the parties their distance.
3. Disinfect the home after every showing. A combination of disinfectant spray along with soap and water is effective. Wipe all light switches, door handles, cupboard handles, taps and appliances. If there is a lockbox, that too along with the key should be disinfected.
4. Limit the number of visitors. A maximum of four persons should be allowed per visit. Visits should be in half-hour intervals and must not be overlapping. Only the main parties and no children should be allowed to enter the home.
5. No open houses. Open houses engage the public and with social distancing measures, it is discouraged.
6. Only allow serious buyers to visit. The digital age makes it easier with 3D virtual tours, online photos and videos and various social media platforms and websites. Applications such as Facetime are useful to show the home and explain the features to prospective buyers. The online marketing must reflect the property as it is for it to be effective.
7. Use digital signatures. This would avoid sharing of pens and close contact. Digital signatures are fast, easy and safe. The technology tracks the location, I.P. address and the exact time the signature is made. It can be done by signing with your finger on a smart phone.
8. Selling homes with tenants. This can be trickier. The tenant’s wellbeing is important. For digital marketing, get the tenant’s permission for photography. The tenant may have family photos on the wall that will be exposed to the world. Work out an arrangement with the tenants. You may want to restrict showings for only a specific time when your realtor is present to supervise the showing and disinfect the home afterwards.

Prospects must take the following safety measures:

1. Postpone buying if possible. COVID-19 strikes without warning. It is extremely contagious. We can carry it without knowing and like a bee, infect the entire family hive.
2. Get approval for mortgage before shopping. Frustration steps in when buyers cannot get financing. Time wasted cannot be regained and with COVID-19, that is considered irresponsible. Buyers must have their job letter, paystubs and social insurance number ready. The lender would require an application to be completed and a credit check done. A mere pre-qualification where the purchase is based on income alone is not good enough. Do the x-ray and the MRI before the surgery.
3. Be prepared. It is best to travel in your own vehicle to visit the property instead of riding with your realtor. Have hand sanitizer, a mask and disposable gloves with you. Maintain your distance and keep your hands in your pockets.
4. Narrow your search. Realtors can give buyers access to all the properties through a program called “collaboration”. The buyers can review as many properties as possible and through the process of elimination, choose their best three properties to visit.
5. Avoid close contact. Let the property inspector inspect the home alone. He can send an electronic report or use virtual inspection, where the inspector can Facetime the client during the inspection. Any signatures can be done electronically as well. Deposits for securing the property can be wired instead of visiting the bank and obtaining a draft.

If you are shopping for condos, be careful in confined spaces such as elevators. Avoid seeing condos during rush hour and take all the necessary precautions. If you are moving in or out of a condo, check with management. They may have certain restrictions that can affect your move.

Be SMART. Social distancing; Measure risk; Ask questions; Rely on professionals and Touch nothing. We owe it to ourselves, our family, our country and our world to do our part. Let’s be serious.