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Agents react to bans on real estate auctions saying this is new way of life

3Mo ago 0 Replies 66 Views
Some of Sydney’s top agents have reacted positively to PM Scott Morrison’s banning of real estate auctions and open homes last night to control the spread of coronavirus.
“We have to adapt,” says Ray White TRG principal Gavin Rubinstein.
“We can do one-on-one inspections, buyers can still bid in virtual online auctions and we’ll be moving to more private treaty campaigns.
“These new challenges are really going to qualify the buyers — so we’ll be only dealing with motivated buyers and motivated sellers in smaller volumes.”

He said big sales were continuing. Last night he and colleague Evan Williams negotiated the sale of the Double Bay home of OVATO publishing chief operating officer James Hannan and his wife Laura.

The four-bedroom residence with off-street parking at 18 Epping Rd had been scheduled for a March 31 auction with a $4 million guide. They sold it for about $4.4 million.
Evan Williams said: “The numbers we had through Epping Rd was staggering …. we had 137 buyers inspect the home across three Saturdays.
“It’s clear while things are clearly changing people still need a place to live.”
And the pair also sold an apartment at 22/3-5 Marathon Rd, Darling Point. It sold above the $3 million guide.

Attitudes change quickly in these days of the coronavirus. What seemed acceptable on Monday, seemed too risky by Tuesday night.
Auctioneer Damien Cooley, who on Monday morning thought registered bidders would still be able to attend his in-rooms auctions in Double Bay, said last night: “In these troubled times, the move to ban in-rooms auctions, on-site auctions and open home inspections was expected.
“Not this soon, but expected none the less.”
He said Cooley Auctions was well prepared, with his AuctionNow by Realtair platform that “enables us to be completely online”.
He’s been fielding calls from agents across Australia and New Zealand all week inquiring about the platform.
It‘s possible to watch, register, bid, buy and exchange on any device, anywhere in the world.
“The restrictions will pass, but our industry will change forever,” he added.

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