Coronavirus: Victorian vendors urged to reconsider auctions

Coronavirus: Victorian vendors urged to reconsider auctions nmprofetimg 1549

Vendors are being urged to cancel upcoming auctions and sell their properties via private sale to assist with social distancing measures.

While auctions are permitted during the coronavirus shutdown, state justice department spokeswoman Michelle Osborne told the Herald Sun that could change.

“Vendors and agents should put social distancing rules in place, as well as seriously consider moving their processes online or to a private sale where possible,” Ms Osborne said.

RELATED: Lalor auction’s $55,000 bonus celebrated with elbow taps

Coronavirus: Auctions and open for inspections allowed amid Victoria shutdown


Coronavirus: Melbourne property listings could plummet

Bruno Gallucci at Preston home  Coronavirus: Victorian vendors urged to reconsider auctions capi fb152d3540414ec1e3386fea3e7187f8 41ff7cc306198a81094981aade21119b

Vendors are being urged to cancel auctions. Picture: David Crosling

Bruno Gallucci at Preston home  Coronavirus: Victorian vendors urged to reconsider auctions capi fb152d3540414ec1e3386fea3e7187f8 02c806877dbe6f2495f67427c64c7b48

Groups outside a Preston auction earlier this month. Picture: David Crosling

But Melbourne agencies are pushing ahead with auctions, with 1366 scheduled this week, according to realestate.com.au.

Real Estate Institute of Victoria president Leah Calnan said those with auctions already booked should consider whether they could move bidding to an online platform or conduct the auction by registration to help control crowds.

“Moving forward though, properties that are coming onto the market need to seriously consider the timing and whether private sale might be the most suitable method.”

Auction pic/social distancing at auctions  Coronavirus: Victorian vendors urged to reconsider auctions capi fb152d3540414ec1e3386fea3e7187f8 7e61459300c560f0d32639cba3966d0e

People tried to social distance at a Lalor auction on March 21. Picture: Tim Carrafa

Auction pic/social distancing at auctions  Coronavirus: Victorian vendors urged to reconsider auctions capi fb152d3540414ec1e3386fea3e7187f8 bb3bb8182ecb8fb2cef98335c8755736

Technology could help buyers bid online and avoid crowds. Picture: Tim Carrafa

She said agencies were prepared for any further changes, with technology set to play a major role in helping buyers inspect virtually, bid and even sign contracts.

Agencies have brought forward a number of upcoming auctions to this week.

Ray White Ferntree Gully agent Michael Nguyen said they chose to sell 6 Norman St in The Basin ahead of schedule at a Monday night auction because there had been plenty of buyer interest.

Coronavirus: Victorian vendors urged to reconsider auctions capi fb152d3540414ec1e3386fea3e7187f8 6e003d9136eb5f04c0c5aefeafc72dfb

No. 6 Norman St, The Basin sold after a Monday night auction ahead of schedule.

Coronavirus: Victorian vendors urged to reconsider auctions capi fb152d3540414ec1e3386fea3e7187f8 89f51987a1f2c50efc7d4e129a1bae98

No. 2 Glen Drive, Eaglemont has changed from auction to private sale.

The house sold under the hammer in front of more than 100 people for $1.33 million.

A number of other agencies reported crowd sizes of about 80 to 100 people at auctions last weekend.

Full Circle Property Advocates director Rob German said vendors would be “mad not to seriously consider a pre-auction offer” providing it was within their price hopes.

The buyer’s advocate added the private sale method needed to become more “transparent” for those making offers if it were to become more commonly used.

READ MORE: Delgany Estate: Gated castle living in the heart of Portsea for sale

Albert Park tower house shoots to huge result $1m above reserve

Desperate buyers with ‘nowhere to live’ scour market