In-person home showings are increasingly giving way to virtual tours and exclusively online transactions
Nearly four out of five Ontarians have expressed grave concerns about the significant risks posed by people entering their homes for showings during the COVID-19 pandemic, according to the results of a new survey from real estate platform Properly.
The poll found that 78% of Ontario home owners are anxious about the health risks of open houses. The concern was especially pronounced among home owners older than 55, 82% of which expressed a fear of open houses - and among those living in the GTA, which has seen an explosive increase in coronavirus cases, 83%.
Another 42% said that they are willing to purchase a home even if they have not seen it in person.
Anshul Ruparell, CEO of Properly, said that the shift towards virtual viewings and exclusively online transactions will likely “long outlive” the pandemic.
“COVID-19 has been a catalyst for an increased use of technology that real estate agents and consumers were previously slow to adopt,” Ruparell said. “Home showings were always disruptive for the seller, but today, having people in and out of your home poses serious safety concerns.”
To finance new residential purchases, owners will also be more likely now to move before they list their homes for sale, Ruparell added.
“This eliminates the difficult task of aligning sale and purchase dates, as well as the financial burden of carrying two mortgages,” Ruparell said.
In the long-term, the role of the industry professional will be to ensure that face-to-face contact is kept to a minimum, and to provide extra value such as access to staging, cleaning, or temporary storage services.
“The status quo will no longer suffice,” Ruparell said. “Expect to see Canadians demanding more safety, direction, and support from their [brokers], in the COVID era and beyond.”
