What do new measures mean for open homes and auctions in Canberra?

It may seem like the whole world has shut down right now, with unprecedented measures and restrictions in place to stop the spread of COVID-19. And as of midnight, March 25, the real estate industry will also be forced to follow suit with Prime Minister Scott Morrison announcing auctions and open homes are to be cancelled.

Agents across Canberra have already been rapidly adjusting to this new world order, from implementing private house inspections, limiting the number of people through open homes and stepping up hygiene measures, to online bidding, plus auctions and open homes streamed live online.

And despite the new rules, buying, selling and renting houses will carry on as it always has, with Canberra agents continuing to evolve as measures change.

“We know that people will still need to buy, rent and sell during what could be a challenging time,” says Ray White Canberra CEO Ben Faulks.

“People's homes are their sanctuaries right now. We've always taken our responsibility seriously in this regard, but helping to keep our staff, our clients and their families safe during this period of time is our main goal.”

While physically attending auctions will no longer be allowed, virtual auctions will still go ahead, and many agencies have already been not only streaming auctions online, but allowing potential buyers to bid digitally.

“All our auctions are already streamed online, so you don't have to physically be there to buy a property,” says Tim Russell from LJ Hooker Kaleen.

“We’re able to do everything digitally, from registering buyers to getting pre-authority for agents to sign contracts and bid on the buyer’s behalf, and they can provide the necessary finance via EFT.”

Tim says LJ Hooker already have technology in place so people can inspect a property without actually visiting.

“We've been putting 3D virtual tours on all our properties as well so potential buyers can virtually walk around the property and have a look without even leaving their own home. If you want to physically inspect a property, we are also able to continue to do private open homes by appointment only. So we will open the house, stand clear while you look around, and then when you’re done, we’ll sanitise the property,” says Tim.

“As an industry, we’ll just find a way to keep doing things, because at the end of the day the whole country needs small business to operate.”