Auctions switch to online or private treaty only

REAL estate auctions and open house inspections might have stopped under a tough new crackdown to combat the spread of coronavirus, but the real estate industry is up for the challenge.

Real Estate Institute (REI) president Adrian Kelly said it wasn’t a shutdown of the industry and there were still ways of conducting inspections and to auction property.
Ray White Lidcombe Principal Steven Duong was already planning to livestream auctions.
“We’ve cancelled all onsite auctions and open house viewings which will now be carried out by appointment,” he said.
“The inspection process might take longer as we will only be allowing one group through at a time and they will be provided with hand sanitiser on site.
“We’ve had to think ahead and have received great support from our head office.”
Elders Lidcombe Principal Sang Tat will move to a private treaty process for all sales, rather than online auctions.
“To be able to bid online, buyers have to be technologically advanced and some of our buyers don’t even speak the language which would put them at a disadvantage,” he said.
“All viewings will be by appointment and you will make an offer and then those offers will be submitted to the owner.
“We definitely need to keep adapting as I’m sure there will be more changes coming.”
Likewise, a First National Waters & Carpenter spokesperson said the agency had cancelled all auction and open houses and switched to a private treaty only system with viewings by appointment.
“We are happy to comply with all regulations to keep everyone safe,” the spokesperson said.
Phillip Daidone Realty’s sales and marketing executive Frank La Malfa says that although on site auctions with groups and open houses were on hold, his agency is very flexible and is being lead by the individual seller.
“Some are happy to put on a ‘for sale’ price while others want to proceed with an online auction,” he said.
“We are happy to do either.
“We’ve already had quite a few bookings too for private viewings so it’s all still very positive.”