COVID-19, Continuing to Trade in Real Estate
| March 17, 2020
As industry professionals, you work with members of the public. The advent of COVID-19 means it is no longer business as usual.
Real estate professionals should be discussing COVID-19 with their clients. It is an important health concern to industry and the public. We encourage you to work cooperatively to find a solution that best fits your concerns and your client’s concerns.
RECA will regularly update our COVID-19 and Real Estate webpage on www.reca.ca. Please refer your clients and other professionals there after discussing COVID-19 options with them.
Brokers
Visit the COVID-19 and Real Estate webpage on reca.ca to assist you in developing a brokerage plan for your associates and employees. Make sure your associates discuss with their clients any COVID-19 implications on their real estate transactions. RECA has developed checklists to assist you with this.
RECA understands this is going to be a difficult time, both for your brokerage’s clients who may be concerned about proceeding forward with a transaction in light of the concerns associated with COVID-19, as well as industry professionals who will be impacted by further economic downturn. Brokers should encourage cooperative solutions between the clients of the brokerage and industry professionals, keeping in mind real estate professionals have an obligation to act in the best interests of the brokerage’s clients.
Industry Professionals
We have been receiving calls from industry professionals looking for advice on working during the COVID-19 pandemic.
RECA is aware that COVID-19 has raised unease about public interactions, including client meetings, property viewings, open houses—most of the activities real estate professionals undertake while trading in real estate.
First and foremost, real estate professionals should be discussing COVID-19 with their clients.
We are facing a global health issue and we urge you to work cooperatively with your clients and customers to find the best path forward. Buyers, sellers, landlords, and tenants could all have potential problems or concerns.
Speak with your broker about any brokerage policies they may be enacting during this time.
Visit the COVID-19 and Real Estate webpage on reca.ca for practice advice and further information. Please use the available checklists to assist you with your discussions with your clients.
