More than ever, we’re supporting our team, our clients and our community to work through the challenges that COVID-19 presents. Below are our most frequently asked questions to help provide clarity and assistance in making informed property related decisions.
What does the Stage 4 lockdown mean for real estate?
All real estate offices (residential and commercial) in Melbourne Metro are closed under stage 4 restrictions. We are unable to conduct any onsite work, visit properties or conduct buyer inspections, including by private appointment.
The entire Brad Teal team continue to work remotely to support our clients. All office numbers, direct lines, mobiles and email addresses remain active and we’re available (virtually!) as normal.
Will my settlement go ahead and can I still move home under stage 4?
Services related to property settlements: including valuation, pest & building inspection, final pre-settlement inspection, contactless handover of keys and files are still permitted, with the appropriate permitted worker permits in place.
How is paperwork signed remotely?
Brad Teal Real Estate adopted digital technology some time ago and all authorities and contract of sale documentation are fully executed digitally with ease.
I currently have my property on the market, would you suggest an online auction?
Auctions, either traditional or online are a great mechanism to achieve the maximum sale price where competition or multiple buyers exist for a property. At the same time, auctions create a greater sense of urgency with an advertised end date. Our agents advise the best sales method for your property depending on your unique circumstances and market conditions. During the COVID-19 period where our operations have been restricted, Brad Teal Real Estate has achieved significant success with online auctions and through private sales alike. We’d be happy to provide you specific examples upon request.
I currently have my house on the market for sale. Noting the current COVID-19 lockdown would you recommend taking the house off the market and re-instating this just prior to lockdown lifts?
We encourage you to continue communicating with your agent as the context evolves, to decide on the best course of action for your property campaign. You can still sell your property during stage 4 restrictions and Brad Teal Real Estate is well prepared to facilitate property transactions in a virtual and contactless manner.
I would like to sell my home, when should I start my selling campaign?
As soon as we see positive insights into the lifting of restrictions, we would advise clients to be ready to go to market. This means ensuring legal documentation is underway, the property is ready for photography and the marketing campaign is set and agreed too. The key is to get to market quickly. From experience, those properties who entered the market immediately post the first lockdown received better results than those properties who entered the market several weeks later.
Are you recommending online auction or private sale process in this environment?
The answer to that question is dependent on the unique circumstances of your property. In this current environment, we often recommend a two stage process: (i) an off market campaign tapping into our extensive database to conduct a buyer matching exercise and test the interest from the market at a selected price point (ii) depending on interest or feedback, transition to an advertised campaign with advertising exposure to draw in a broader audience. The preferred method of sale for your property campaign is dependent on local market context, the nature of buyer competition for your property and what is likely to work best with your own personal circumstances and timing.
Can I still get an appraisal of my property?
Our agents can appraise your home virtually via Zoom or FaceTime and give you a pulse check of the market. The Brad Teal team can also provide you with an estimate of value and digital sales proposal outlining market trends, suburb data and comparable sales. Our team is talking with qualified buyers and prospective sellers every day. While Zoom video conferencing and FaceTime might be our new best friend, we’re still handy with the phone!
Are buyers still active in the market?
The property market has been surprisingly resilient despite the uncertainty presented by the COVID-19 pandemic. Our conversations with buyers indicate that people are still avidly looking for property and this is backed up by industry data which has confirmed that internet search activity over recent months has seen realestate.com.au experience record audience numbers and surges in buyer enquiries. For the week to 27th July :
- Victorian searches in the buy site section are up 26% year on year
- Victorian searches in the rent section are up 12% year on year
We anticipate buyer demand will remain consistent and build further once stage 4 restrictions ease resulting in strong competition for property, particularly as stock levels remain low.
Are properties still selling?
Yes, properties continue to sell as Brad Teal Real Estate can transact in a contactless manner.
What technology do you have available to facilitate real estate transactions?
We’re using the latest technology to bring together opportunities, whilst keeping our distance! Online auction platforms, virtual property tours, video meetings, digital contracts and virtual property appraisals are all part of Brad Teal Real Estate’s leading edge toolkit.
FAQ Regional Stage 3 Restrictions | Vendors
How do Stage 3 Restrictions differ in Regional Victoria?
At Brad Teal, our Gisborne office continues to operate in a less restricted albeit highly regulated context under Stage 3 Restrictions. We continue to successfully list and sell properties in these areas under these conditions. To confirm:
- Inspections can continue, but must be scheduled by private appointment only
- All auctions can only be conducted online
Our Gisborne team continues to be very active and is available to conduct onsite appraisals and help you with selling advice, as per normal.
Please contact the Brad Teal team via phone or email should you require assistance. We’re here to help.