Business / Luxury Realtor Sahil Punni Of Homelife G1 Realty Tells You What To Expect In A Post-Pandemic Real Estate Market

Luxury Realtor Sahil Punni Of Homelife G1 Realty Tells You What To Expect In A Post-Pandemic Real Estate Market

Business Jul 06, 2021

by Sahil Punni

When it comes to this fast moving space, separating fact from fiction is important especially when you are looking to make the biggest purchase of your life. This is where award-winning realtor, Sahil Punni of Homelife G1 Realty shares with us the key markers you should look for when shopping in a post-pandemic real estate market.

The multi-award-winning realtor, Sahil Punni has become one of the top realtors in the country becoming one of the top producers in Canada for over five years. Sahil has been the recipient of various awards such as, ‘#1 Individual Sales Person & Highest Gross Sales Commission’, ‘Million Dollars Club With Over $1,000,000 + in Commissions Earned’ and the ‘Extraordinary Performance Award. Whether you live in Toronto or in a bustling metropolis elsewhere, these universal lessons can’t come at a more perfect time.

**Luxury Realtor Sahil Punni Of Homelife G1 Realty Tells You What To Expect In A Post-Pandemic Real Estate Market: Sahil Punni.** Photo Credit: www.homelifeg1reality.com

There have been a lot of misconceptions since the start of the pandemic when it comes to the real estate market. However, we have continued to see record breaking sales and homes moving as fast as ever. With Toronto being a city that has always had a lot of transaction activity, we have noticed other suburban areas throughout the GTA and neighboring towns continue to grow. The pandemic has allowed families, couples and first time home buyers notice that Toronto isn’t the only great city to live in throughout the province. This has caused the first misconception we have seen during the pandemic.

1. In a post pandemic real estate market, expect a boom in Toronto and larger cities.

Toronto is undoubtedly one of the biggest employment cities in Canada and a foreign investors dream. Once immigration is open and people return to their offices, Toronto will once again, be the premier place to live and invest in throughout Ontario. With demand in the city increasing and supply still limited, you can expect prices to increase once again. New construction projects (specifically condos) continue to sell out, which makes it harder for first time home buyers to find a home in the city.

2. Expect homes to sell even faster than what we saw during the pandemic.

Homes were being sold at record rates during the pandemic! Once things return to “normal” we will likely see homes sell even faster than before! While offers are being accepted in 14 days or less, we believe that things will move even faster during the post-pandemic market. Be prepared to make an enticing offer with minimal conditions, so you can be considered when you are looking to purchase your home. There are always multiple offers, so try to get pre-approved for a mortgage so you know if you are able to overbid on a home, or to browse in a more affordable area.

Luxury Realtor Sahil Punni Of Homelife G1 Realty Tells You What To Expect In A Post-Pandemic Real Estate Market: Homes will be sold at an ever faster rate! Photo Credit: www.unsplash.com — **Luxury Realtor Sahil Punni Of Homelife G1 Realty Tells You What To Expect In A Post-Pandemic Real Estate Market: Homes will be sold at an ever faster rate!** Photo Credit: www.unsplash.com

3. “Houses are too expensive, I can’t afford a home, I’ll just wait!”

We have heard this comment many times. However, waiting to buy real estate can be a very costly mistake. Prices haven’t dropped nor will they be dropping to a ridiculously low price. If you do not have $60,000 CAD or more to put as a lump sum down payment, we advise you look at pre-construction. Pre-construction homes let you pay that $60,000+ CAD down payment in 20 months or more! This allows you to save and spend wisely so you can in fact be a homeowner!

4. Sellers will get less for their home during the pandemic.

This is the farthest thing from the truth. In fact, people are receiving well over 100% of their asking price. Cities like Vaughan, Mississauga, Barrie (suburbs just outside of the Toronto area) and more, continue to have homes sold about asking. If you are looking to sell your home, doing it now may be the best time!

5. “I can’t do a showing or presentation of my home, so I shouldn’t sell”.

If you have an agent who is able to adapt to the new ways of marketing a home, you don’t need to have a showing (or a large showing audience). With the pandemic making things virtual, having a great social media presence, photography, videography and advertising plan, you don’t need to solely rely on showings. Even doing a virtual tour can show you what the home looks like, without stepping foot in the home.

We have worked with many builders during the pandemic. We used to have large showings for pre-construction projects. Have people visit the sales office, wait in line and see the renderings in person. We have adapted with the builders and are able to show clients their new homes via zoom. We have the right images, videos and information to answer all your questions virtually.

With things slowly re-opening, we will be having more people at presentations or showings, while following government health guidelines. That being said, families, investors, couples and people should all be prepared for more lines or time slots being booked as fast as before. Everyone is excited to safely reopen. So this will likely cause an overwhelming demand to purchase and view homes or condos in person. We as realtors know we have an obligation to keeping our clients and team safe, so we will be doing showings and presentations strategically and effectively.

You can follow Sahil Punni on Instagram.

From preconstruction to resales of homes and condos, and to check out their complete virtual listing packages and more, feel free connect with Sahil by visiting www.homelifeg1realty.com.

Main Image Photo Credit: Sahil Punni (portrait), www.unsplash.com

Sahil Punni

Author

Sahil (@sahilpunnirealestate) is a pre-construction specialist and is one of the top producers across Canada, He helps families find their ideal home in cities that they have always wanted to live in and also helps young professionals and experienced investors make money by investing in pre-construc...

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Luxury Realtor Sahil Punni Of Homelife G1 Realty Tells You What To Expect In A Post-Pandemic Real Estate Market

by Sahil Punni

Sahil Punni

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