It has been a turbulent few months for the real estate industry with plenty of changes to the way in which property sales are conducted amid the COVID-19 pandemic. Through it all, properties continued to transact, with buyers and sellers adapting quickly week-by-week.
In promising news for vendors, new data shows search activity on realestate.com.au increased by 5.3 per cent over the past week, and is now 37 percent higher than it was at the same time last year. Although fewer new properties continue to come to the market, Australians remain extremely interested in residential property throughout COVID-19
At Upside, we continued to see properties achieve stand-out results - with some sales taking place completely virtually!
Gold Coast Upside agent Megan Cranitch helped one happy vendor achieve a record sale for the building, in addition to saving her $10,980 in marketing fees with Upside’s fixed-fee model. 202 The Esplanade, Burleigh Heads was sold completely via virtual inspection with interstate buyers.
On taking us through the sale...
“From our first appointment she listened to how the sales process would go and was excited to see the response from the first few weeks. I conducted 2 opens and a private viewing, then COVID-19 hit" said Megan.
We put in place social distancing requirements and I was quick to arrange a video by paying for a videographer to put together a 60 second reel for prospective buyers. The vendor was very happy. When I had the buyers contact me and I told the vendor we were doing a video inspection she was enthusiastic and was present to answer any questions for the buyer.
A day later the buyers contacted me with an amazing offer! The vendor was ecstatic.”
The importance of embracing the digital for a successful sale during this time
For those who are intending to sell, don’t be put off by new workarounds. When properly embraced, it can really set you apart from competing properties. While good quality photography remains an essential to provide the best showcase of your property, a walk-through video or virtual tour over the phone with an experienced agent gives potential buyers a great perspective of the quality, size and layout of the property.
“With Upside being a pro-tech company since the beginning, I was already armed with the support I needed to get through the changes COVID-19 brought.” said Megan.
(For the sale of this property), I conducted a virtual tour over WhatsApp. I started off from the beach and walked the buyer through as if they were actually there, pointing out all the features and asking questions constantly.”
“The buyer was very impressed and made an amazing offer based on what they saw and their trust in me.”
A successful Upside sale = happy vendors AND happy buyers
Although selling in this climate might seem difficult, with the right agent, processes and tech, it’s more simple than you might think.
“The sale was easy and seamless’ said the vendor of 202 The Esplanade, “Megan was a rare professional and went beyond her duties to do random acts of kindness for me which l truly appreciate. It was a pleasure to work with Megan throughout my sale”.
At Upside, alot of our success is on the back of being flexible and proactive, “Unlike my two previous agents that I made an inquiry about a property, Megan rang me back within 20 minutes on a Saturday evening which was very surprising" said the buyer.
She was very helpful and under the Covid 19 restrictions did her very best to inform and show us the property via WhatsApp.” There is no doubt that there are added challenges to purchasing remotely, but it can be successful when the agent is switched on and ready to accommodate.
“It’s very difficult to buy a property without an inspection in person but Megan did her best so that we could get a feel of the property.”
Catering for all needs in a constantly changing world
COVID restrictions have brought with them a host of different scenarios for buyers and sellers and Upside is in a great position to cater for anything that might arise. In Megan’s case the buyer was unable to travel between states due to borders being shut for travel.
For another Upside property in Ivanhoe, Victoria the vendor was stuck in New Zealand. For this vendor, not only was Upside able to manage the process virtually, agent James Davis also helped to prepare the property for inspections.
“He went above and beyond to get our property up to scratch when we couldn't leave NZ to come and help assist,” said the happy seller.
Social distancing rules can impact the process in numerous ways, however by catering for all circumstances we are able to provide the best possible experience and maximise the result.
Whether you choose to sell depends on your own personal circumstances. While it seems an uncertain time, it's important to remember that the best way to determine your next course of action is to get in touch with your local agent about your options and find out the market trends in your area.