Necessity is the Mother of Invention.
There is no doubt that we are dealing with an unprecedented experience in our lifetimes. Each of us seems to choose our own ways to deal in a glass-half-empty or glass-half-full approach. One thing I know is that this too shall pass. Our Sotheby’s International Realty Canada offices are physically closed as we have moved to virtual working and Facebook Live
Here is what we know:
- Properties are still being sold and contracts are still being written.
- We live in a country that has been showing great growth and migration.
- There is still an incredibly low housing inventory in the Greater Toronto Area.
- Mortgage rates are lower than they have been in years and will probably move lower.
- There is more flexibility in the offing for the dreaded “Stress Test” in Mortgaging.
- Canadian Mortgage and Housing Corporation is showing unseen flexibility in their dealings with their insured mortgages.
- Both the Canadian and U.S. Governments are making major concessions and adding programs to not only contain the virus but also stimulate the economy.
- The regular fill of our vehicle gas tank which is normally $100, was $60 yesterday.
- The Canadian Revenue Agency has moved the Income Tax filing deadline from April 30th, 2020 till June 1st 2020.
- Deadlines to pay outstanding balances to the CRA are to be extended to July 31st, 2020.
- Your RRSP and investment portfolios are down but there are some good buys to come when the dust settles and the market rebounds.
- House Sellers are unsure and want to move on with their lives creating a buying opportunity.
- Digital listing and selling are easier as well as marketing and platforms exist to make that happen.
- Most offers are now being handled online and not face-to-face.
- We have experienced “Pre-emptive offers and multiple offers on properties”in the last week.
- We have also had a number of iPhone showings and Facebook live Events
Choose to be creative and positive during this crisis.
- If you are working from home, make a list of the all the spring chores that you want to accomplish but have been procrastinating about. Make a hit list and get them done. Time to take down the Xmas decor, that has been up for 3 years?
- Make a daily schedule that includes a long family walk in the outdoors and get a list of the parks in your neighbourhood or a short drive away. Take your Sunday morning walk every day.
- Schedule your Netflix time but make sure that you add some documentaries to add knowledge to the entertainment. Edutainment is the new word!
- See the books sitting on your reader or your shelves that you have not been able to get around to. Read them.
- Create a WhatsApp group to keep in touch with family, friends and colleagues to share ideas, photos and news.
- There is a plethora of “how-to” videos on YouTube that are waiting for you to watch them
- Avail yourself to Webinars taking place and hone your computer skills.
- Is your database up to date? Email or snail mail birthday cards and add connections.
- Call all your friends that you may be concerned about and let them know that they are on your mind.
- Order take out from your favourite restaurants so that they can stay afloat. Don’t expect them to be there after the crisis if you cannot be there to support them now.
Feel free to add some of your creative thoughts to this list. Pass these ideas onto friends. Add your comment below and let’s grow this list.