The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSING THIS WEEK RECOGNISING THE PEOPLE BEHIND THE PROJECTS
NOMINATIONS CLOSING THIS WEEK URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
25
print
Print
OfficeRenee McKeownWed 25 Mar 20

‘Make Use of Technology’: Auctions, Open Homes in Coronavirus Shut Down

f5ea4f0f-503e-4a98-85d2-aa83155fe0d8

The real estate industry needs to “step up” and take advantage of online inspections and auctions in the wake of new Covid-19 restrictions according to REIA.

There were 2,635 auctions scheduled in capital cities for 28 March, prior to the Australian government’s update on coronavirus measures.

That was up from last weekend which was the second busiest for auction activity this year—2,539 homes went under the hammer with a clearance rate of 61.3 per cent.

However this was expected to change with national cabinet agreeing to new social distance measures which banned real estate auctions and open-for-inspections from 25 March with the exception of private appointments.

“Real estate auctions and open house inspections - in particular, open house inspections - that cannot continue,” prime minister Scott Morrison said.

“We will be living with this virus for at least six months, so social distancing measures to slow this virus down must be sustainable.”

REIA president Adrian Kelly said while it was not “business as usual” there were still ways of conducting inspections and to auction a property.

“This is the time for the industry to step up and respond to what is happening,” Kelly said.

“Innovative and flexible agents should make better use of technology.”

However online auctions and inspections have been around for years including established online property auction site Openn Negotiation platform.

Australian real estate agents sold more than $830 million in property since the platform’s inception in mid 2017.

Openn Negotiation chief executive Peter Gibbons said there was a significant increase in enquiries from agents looking to get trained in the platform since the coronavirus restrictions took place.

“We've seen a 350 per cent increase in registrations for our online learning in March,” Gibbons said.

“We expect that to continue to grow.”

REA Group announced they would continue to allow agents to use videos to showcase listings with a new inspection feature going live on their realestate.com.au app in the coming days.

REA Group chief sales officer Kul Singh said they were focused on supporting the property market through these unprecedented times.

“We want our customers and consumers to know that the property market is still open for business and inspections remain open online,” Kul said.

“Digital Inspections is the first of our new features to help the market adapt to the evolving conditions.

“We all have a responsibility to flatten the curve when it comes to the spread of Covid-19 and we are focused on helping our customers continue to operate their businesses in a safe environment.”

HotelIndustrialRetailResidentialAustraliaReal EstateSector
AUTHOR
Renee McKeown
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Beyond the Aerotropolis: How Airports are Turning into Cities

Taryn Paris
6 Min
Exclusive

Inside the Strategy Behind Australia’s Largest Direct Real Estate Deal

Phil Bartsch
5 Min
Exclusive

Green Premium, Brown Discount: New ESG Regulations Drive Value

Patrick Lau
8 Min
Exclusive

Arup Targets Podium Finish for Brisbane CBD Headquarters

Taryn Paris
6 Min
Exclusive

No Cookie Cutters: Finding Feasibility in HAFF Projects

Patrick Lau
6 Min
View All >
Pellicano Spring Hill Hero
Build-to-Rent

Pellicano Puts Forward 25-Storey BtR Plan for Spring Hill

Clare Burnett
Sponsored

Generational Housing Crisis Demands Generational Response

Partner Content
Residential

Western Sydney Rail Corridor Targeted for $57m Tower

Vanessa Croll
A tower is planned for a site once leased to a major children’s charity as transit-orientated proposals continue to moun…
LATEST
Pellicano Spring Hill Hero
Build-to-Rent

Pellicano Puts Forward 25-Storey BtR Plan for Spring Hill

Clare Burnett
3 Min
Construction

Generational Housing Crisis Demands Generational Response

Partner Content
3 Min
Residential

Western Sydney Rail Corridor Targeted for $57m Tower

Vanessa Croll
3 Min
Exclusive

Beyond the Aerotropolis: How Airports are Turning into Cities

Taryn Paris
6 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/make-use-of-technology-auctions-open-homes-in-coronavirus-shut-down