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Real estate still doing business

REAL estate auctions and open house inspections might have stopped under a tough new crackdown to combat the spread of coronavirus, but the real estate industry is battling through.
Real Estate Institute (REI) president Adrian Kelly said it wasn’t a shutdown of the industry.
“There are still ways of conducting inspections and to auction property,” he said.
Ray White Lidcombe Principal Steven Duong was already planning to livestream auctions.
“The inspection process might take longer as we will only be allowing one group through at a time and they will be provided with hand sanitiser on site,” he said.
Elders Lidcombe Principal Sang Tat will move to a private treaty process for all sales, rather than online auctions.
“To be able to bid online, buyers have to be technologically advanced and some of our buyers don’t even speak the language which would put them at a disadvantage,” he said.
Likewise, a First National Waters & Carpenter spokesperson said the agency has cancelled all auction and open houses and switched to a private treaty only system with viewings by appointment.
Phillip Daidone Realty’s sales and marketing executive Frank La Malfa says that although on site auctions with groups and open houses were on hold, his agency is very flexible and is being lead by the individual seller.
“Some are happy to put on a ‘for sale’ price while others want to proceed with an online auction,” he said.

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