Making Moves or Pandemic Pause? New survey reveals COVID-19 impact on Canadian Home Buyers and Sellers Decisions
STONEY CREEK, ON, February 15, 2022 / CNW / - A recent survey1 commissioned by FairSquare Group Realty found that a mere two-in-ten Canadians (19%) would buy or sell a house during the pandemic, with those aged 18-54 significantly more likely to say they would than those aged 55+. The survey also revealed significant shifts in real estate attitudes and opinions based on age group.
“There are many pieces to the puzzle when it comes to buying or selling a home and it can be difficult to navigate a real estate transaction from beginning to end, especially during the pandemic,” says Pascal Laflamme, President at FairSquare Group Realty. “As 2022 began, the team at FairSquare wanted to get a sense of how Canadians were feeling about the real estate market and their preferences so we could better serve our communities.”
Collaborative approach gaining momentum during pandemic, especially among millennials
When looking at different approaches to real estate, roughly two-in-five Canadians are more interested in working with a brokerage that offers many experts throughout the real estate process versus working with one agent. Those under the age of 35 showed the most interest (49%) in this approach than any other audience group, reporting efficiency of the process (59%) and customer service (47%) to be on their top priority list during a real estate transaction. Canadians who are likely to buy during the pandemic also showed interest in this real estate approach (69%).
“FairSquare provides dedicated real estate professionals to support you at every step. We pair our clients with the right person at each stage of their real estate journey to ensure a customized approach,” notes Laflamme.
Saving money is key
When asking Canadians what they believe to be the most important aspect of a real estate transaction, saving money (61%) was number one, especially among those under 55 (64%).
“With the opportunity to save our clients' money while providing support from local and dedicated real estate professionals, we know our modern approach to a real estate brokerage is the now and future,” says Chris Ladouceur, Executive Vice President and General Manager at FairSquare Group Realty. “FairSquare offers today’s homeowners a perfect balance between modern-day savings and the service expected from a real estate brokerage – it's the best of both worlds.”
With FairSquare, dedicated REALTORS® and real estate professionals help Canadians buy and sell homes while providing support using new technology and expertise throughout the whole process. This modern and practical alternative to real estate brokerage services has shown tremendous success.
2021 stats show:
- FairSquare Group Realty sold 1 home every 3 hours last year2
- FairSquare Group Realty saved Canadian home sellers an average of $13,500 in commission last year3
- FairSquare Group Realty gave Canadian home buyers $1.72 million in cash back last year4
Desjardins Group, Canada's leading financial cooperative, acquired FairSquare in 2020.
"Buying or selling a home is one of the biggest—and most stressful—decisions that consumers will make in their lives,” says Eric Lachaîne, Executive Vice-President, Caisse Network and Member and Client Services at Desjardins Group. “Through our partnership with FairSquare, we will continue to support Canadians in their real estate journey, saving them money while offering cutting-edge technology and exceptional service.”
For more information on FairSquare, visit fairsquare.ca.
About FairSquare Group Realty
FairSquare is the real estate brokerage that offers a smart, modern choice for Canadians, putting more people on your side and more money in your pocket. With thousands in commission savings for sellers, cash back for buyers, and the support of local REALTORS® and dedicated real estate professionals every step of the way, it’s the new way home. Yours.
About Desjardins Group
Desjardins Group is the largest co-operative financial group in North America and the fifth largest co-operative financial group in the world, with assets of $389.3 billion. In 2020 it was ranked as one of the world's Top 100 Employers by Forbes magazine. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the world's strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.
1An online survey of 1,533 Canadians was completed between January 14-16, 2022, using Leger’s online panel.
No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, though, a probability sample of 1533 respondents would have a margin of error of ±2.5%, 19 times out of 20.
2Based on the total number of homes sold by our brokerage nationwide between January 1, 2021 and December 31, 2021. On December 1, 2021, Purplebricks rebranded to FairSquare Group Realty. This statistic was calculated using data collected under the Purplebricks brand.
3Total savings based on a commission of 5% in Ontario, 4% in Manitoba and 7%/3% in Alberta, less a buyer agent commission estimated at 2.5% in Ontario, 2% in Manitoba and 3.5%/1.5% in Alberta, taking into account fees paid to FairSquare Group Realty and applicable taxes, from January 1, 2021 to December 31, 2021. On December 1, 2021, Purplebricks rebranded to FairSquare Group Realty. This statistic was calculated using data collected under Purplebricks brand.
4Total cash back given to clients who were represented by FairSquare Group Realty for the purchase of a home between January 1, 2021 and December 31, 2021. On December 1, 2021, Purplebricks rebranded to FairSquare Group Realty. This statistic was calculated using data collected under the Purplebricks brand.