From today Wed August 5th 2020, buying and selling real estate will change – for at least six weeks. Real estate agencies will be closed, and physical open for inspections cease.
However, online auctions and online virtual open for inspections are permitted. But the Government’s logic for these online activities is unrealistic as onsite preparation for professionally prepared photography, floor-plan artwork, and 3D virtual tours is not permitted!
Where to from here?
Existing properties that are mid-campaign are rushing to complete online auctions. Agents will know their buyers and the Open for Inspections done.
What if you are considering a new listing and everything is ready to go?
That’s a discussion you must have with your agent or us as property advocates. Think about whether a listing is in your best interest now with no inspections permitted: or should you defer?
What if I have to sell now due to Financial/Divorce/other pressures?
In this scenario you will need to take the pictures, perhaps film a virtual tour on your phone and upload them to your agent. While not visually professional, listings will continue in all listing sites. You might have to sell your house subject to final inspection.
And if you don’t have to sell now?
Well, Spring is coming, and our view is there may be pent-up demand for good homes. New Zealand experienced a surge in median house prices after stage 4 ended. Geordie Dixon Director Jellis Craig Hawthorn is also anticipating a strong resumption to the market and getting their clients ready for listing.
It’s our opinion that you should be in the market sooner than later as Government support beyond September and the health of the economy, in general, is unknown.
Our advice is to get your home “Spring ready”, fully prepared for the following professional services.
- Ask your preferred agents to submit their preliminary selling proposal for your consideration.
- Engage an agent – we can help you with this as Vendor Advocates (at no cost)
- Repairs, maintenance and renovations – all can still take place during the shut-down. Book the tradies now.
- Start the decluttering program.
- Engage your solicitor/conveyancer now so that all the mandatory documentation is ready by listing day.
- Staging consultant
When the Government announces the stage 4 end date, discuss with your agent and re-assess the market. If the pent-up demand is high, book the remaining professional services through your agent and your Spring listing will be amongst the first.
To help guide you through this period and getting you ready for the lifting of Stage 4, ring us for a more in-depth discussion. Guy Angwin M: 0412 022998 E: firstname.lastname@example.org or Geoff Briscoe M: 0419 740 351 E: email@example.com