A property expert says this spring is a “particularly good time” to sell property
The government’s recent move to place Auckland under Alert Level 3 to curb transmission of the coronavirus should not dampen the city’s real estate market, a local property expert said.
“We’ve operated safely and effectively in Alert Level 3 before, and Auckland’s real estate industry will do so again,” said Derryn Mayne, owner of real estate firm Century 21 New Zealand.
Mayne added that spring has always been a good time to sell property, particularly this year when the lockdown has resulted in a shortage of listings and an expected rise in real estate website traffic as Aucklanders are forced to stay home.
“Those Aucklanders contemplating selling their houses should not be put off by this latest lockdown,” she said. “While it restricts people’s activity, it also gives buyers more time to surf the net and contemplate their options.”
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Mayne also said that with more people glued to their computers and smart devices, sellers should take advantage of social media to increase their properties’ exposure.
“Not only can buyers use this time wisely, but those looking to sell should also use this lockdown to prepare their property inside and out,” she said. “As they say, don’t waste a lockdown!”
However, Mayne said that the quality of a vendor’s online marketing strategy can often spell the difference success and failure, citing “virtual tours, floor plans, video, and drone footage can help when potential buyers are forced to view remotely.”
Under Alert Level 3, auctions can only take place online or via phone bidding. Private property viewings, pre-settlement inspections, settlements, and moving houses can only happen by appointment and must follow strict protocols.
Property appraisals should ideally be done remotely but can be done in person with restrictions. However, discussions with agents on agreements, marketing, and the listing process must occur via teleconference or over the phone.
Mayne said there was no reason for real estate transactions in Auckland to slow down. She added that activity and interest were expected to be “high in the next two weeks albeit just not as visible.”
“Property is holding up well and the time to act is now,” she said. “There are plenty of families keen to move, empty nesters downsizing, first-home buyers securing record-low interest rates, and investors seeking better returns.”
