Real Estate Sales - Answers to your questions on selling your home during this time of uncertainty
Like most industries and situations at the moment the short-term impact is unclear. However most experts expect market conditions to return to their pre-COVID-19 activity once concerns over the virus have passed.
Here are a couple of questions answered on selling your home during COVID-19
Can I still sell my home?
Yes. Sellers’ agents, buyers agents and the rest of the market have adapted to the new restrictions. Virtual tours of homes, private inspections and online auctions are now the norm. Sellers can still sell via private sale too, as always.
Will I be able to have renovations or repairs done?
Hiring tradies to do work around the home is not currently restricted under the Federal and State governments’ COVID-19-related protection measures. Hipages, Australia’s largest online marketplace for tradies has issued up-to-date guidelines to help homeowners continue the business of hiring tradespeople. While their recommendations are helpful, be aware that they are not mandatory so ensure you’re practising safe hygiene and social-distancing.
Can I still hire a tradie?
The measures announced by the Australian government do not affect the hiring of a tradie. Sellers can still employ tradespeople to undertake work, and tradespeople can continue to accept job leads. Tradies have not been added to the restricted services list announced by the Government, and it is paramount that tradies remain on the list of essential services during the coronavirus crisis.
Can Buyers purchase a property sight unseen?
It’s not unheard of, but it can be rare that buyers purchase property without ever setting foot through the door. Those cases when it has happened, it’s often a cashed up investor who has crunched the numbers, has had professional pest and building inspectors or their financial advisor do a walk-through and they never plan to live at the address.
How do I make it easy for a buyer to purchase my property sight unseen?
There are a number of actions you can undertake to make it easy for a buyer to act on making an offer on your property:
- Get your agent to film a room to room walkthrough of the property. This does not have to be a Steven Spielberg directed cinematic production, but a well thorough explanation of all the features and benefits of the property. (Example Attached - https://youtu.be/RI1B40XKKvU)
- Produce a Virtual Floorplan or Matterport Tour. This is a great user experience for buyers, and an effective means of showcasing a property for Sellers. Buyers can inspect at their own pace, zoom in and zoom out on areas of the home, and buyers can take measurements of floors/walls/doors. (Example Attached - https://my.matterport.com/show/?m=aQ8McDKo5Cy)
- Make sure you have plenty of quality photos and a accurately measured up floorplan available for download.
- Employ and Building and Pest Inspector to complete a Pre-Sale Building and Pest Report which can be sent to prospective buyers
In closing, there are still buyers with an appetite to buy property... just this week I have spoken to numerous Investors, First Home Buyers, and Property downsizers...just to name a few.
My advice is, speak to your local Real Estate Agent about how they are experiencing the market in your area.
