Dear Friends & Clients,
We’re aware that all of you will be experiencing similar levels of confusion and concern around the many mixed messages we are receiving about the spread of COVID-19. Acknowledging that with such confusion abound we are all susceptible to overreacting or underreacting, we at the David & Ty Homes Group wanted to give an update on what we’re currently doing in response, recognizing the limited information we have at this time. Whether we will be ridiculed for overreacting, or judged for underreacting, only time will tell. Our hope is simply to make informed decisions to the best of our ability.
1. We Are Trying To Make Ourselves Aware
My (David) wake up call came on Thursday when my sister told me the hospital she works at in Scotland had its first confirmed case and the steps the hospital staff were taking. It sounds like they are expecting similar scenes to those in Italy, with the healthcare system stretched to breaking point. Frankly, the National Health Service in Scotland is superior to the system we have in British Columbia, they are most likely far better equipped than we are.
This prompted me to get a sense of what is coming for us here, with what sounds like a fairly significant outbreak just south of us in Washington State and our close ties to other virus hot spots. We know the virus is already here in British Columbia and that cases are most likely underreported currently due to a lack of testing.
The most useful article we’ve found so far is this one: Coronavirus: Why You Must Act Now. One of the difficulties with our current reality is the breakdown in trust of institutions, whether they be government, media, or otherwise. It’s difficult to know what to expect, but we are trying.
2. We Will Not Leave Anyone Hanging
We have reviewed our client files and are aware that a handful of you have either sold and are yet to purchase, or have purchased and are yet to sell. Please know that we fully intend on doing everything within our power to ensure you are able to take the appropriate next steps in your transaction.
For our sellers that must now buy, we will continue to show you properties of genuine interest via private showings at the discretion of the sellers.
For our buyers than must now sell, we will continue to market your properties and will utilize lockboxes for private showings at your own discretion.
3. We Are Encouraging Patience
We are aware of a handful of clients that have not yet purchased and/or sold, and are potentially able to wait for a number of days or weeks. If that is your situation, we are currently suggesting that you take some time to see how the pandemic evolves here in the Lower Mainland. If appraisers, home inspectors, and others that are required on site are no longer working in the coming days it’s most likely that transactions will not be able to proceed in a timely fashion anyway.
We are not expecting a ‘market collapse’ in real estate, merely a quieter late spring than usual after a very busy start to the year. Low interest rates will most likely remain for the foreseeable future and we expect this to be a blip in the market, not a catastrophe.
4. We Will Utilize The Technologies Available To Us
Already much of our business is conducted electronically, we will continue to utilize these tools. Contracts will be signed electronically, as they usually are, and showings will be handled using lockboxes, also as they usually are.
When physical contact is necessary, we will use hand sanitizer and are trying to secure some face masks. We request that you take similar measures to protect yourselves and those around you.
5. We Are Temporarily Reducing Expenses
Whilst continuing to market our clients’ properties, we are taking intentional steps to reduce the expenses associated with the David & Ty Homes Group. As one of the most successful real estate teams in the Lower Mainland we have significant overhead and after a costly launch of the new team we have to tighten our belts. We do not have salaries to depend on, and we have to reduce our projected income for the team. We will, of course, continue to follow through on our commitments to pay all invoices in a timely fashion and to care for our own employees and families.
6. We Are Staying Home
Out of respect for ourselves, our families, and all of those in our community, we are avoiding any and all unnecessary contact with others. This has proved effective in a number of communities around the globe and has reduced the exponential growth of the virus as authorities come to terms with how to handle it. We would encourage you to consider taking similar steps.
Where To From Here?
We are trusting that the above measures will protect ourselves and you, our friends & clients. We also hope they will contribute to the slowing of the spread of COVID-19 until the authorities are better prepared to handle it.
Please know that we will continue to monitor the situation and will be in touch with each and every client if we believe it has any impact on their situation.
David, Ty, Devin, Dan, Lindsay, Diane, & Amanda