As many countries around the world have started easing on the quarantine restrictions and the wheels of the economy slowly turning again.
It has been ten weeks since Australia has been on widespread community quarantine with most people asked to stay at home and are being asked to prepare for what lies ahead. Even though there have yet been no guaranteed treatments or vaccines developed to fight the dreaded COVID-19 disease, but somehow people have become aware of preventive measures to keep themselves safe from infection.
The pandemic has also rocked the real estate industry, where much of the traditional marketing and promotional activities for real estate businesses have been halted indefinitely such as open homes, auctions, property inspections, and face-to-face client meetings.
But while the pandemic has shaken the industry, it has not deterred enterprising and innovative minds to adapt to the situation by taking advantage of digital technology to continue doing what they do best- helping others realise their dreams of owning homes.
Now that the restrictions have been eased, it brings the industry new hope to face the new challenges head-on and determined to keep the industry strong.
What has happened and changed?
During the second week of May 2020, Victoria joined the list of states such as New South Wales, Western Australia, Queensland, and South Australia in facilitating and conducting on-site auctions bearing in mind to ensure proper health restrictions are enforced- a welcome development in the nation’s auction capital Melbourne.
For instance, social distancing measures such as limiting the number of participants in on-site auctions to a maximum of ten (10) attendees, excluding the number of agents needed to facilitate the auction process.
While it may take several months of stringent enforcement before restrictions rules can be dramatically eased, the industry has taken these changes well and transitioning into the new normal.
More changes expected in the near-term and long-term future
Additionally, there have been changes that could re-introduce the conduct of property inspections- similar to auctions- particularly for both rental and residential sales.
Open homes may very soon be resumed with a maximum limit of 10 people at any time, excluding those needed to host the inspection. Provisions are in place requiring agents to ensure collating pertinent visitor or buyer information such as names, contact details, and addresses, which may be needed should contact tracing be required.
While these modified guidelines have already been conveyed throughout the industry, it is imperative upon real estate agents to ensure that these policies are followed to the letter to ensure that it would help stave off the disease from spreading and ensure the continuity of business in the industry.