According to MacKay Sr., social distancing measures have disrupted the way business is typically conducted in residential real estate. MacKay Sr. says that his brokerage firm – Maude, MacKay, & Co. Ltd. – as well as many others have had to implement new COVID-19 policies to ensure that any buyers or sellers have been abiding by the provincial government’s suggested safety protocols.
Despite the downturn in business in recent weeks, MacKay Sr. doesn’t see this pandemic causing the kind of economic damage that resulted from the Financial Crisis of 2008. He believes this is much more of a temporary industry disruption.
“I don’t think this is going to be sustained for a long time, I think once the pandemic is under control I think we’re going to see a bounce back and the reason I think that is because we obviously had pent up demand heading into this and I think once we come out of it and people feel healthy and safe and well again that they’re going to start buying and selling again.” – Rod MacKay Sr., Residential Realtor