Western Sydney agents are scrambling to move weekend auctions to either a private treaty sale or move ahead in a quick-fix auction this afternoon before the federal government’s auction ban comes into effect tonight.
Prime Minister Scott Morrison announced Tuesday night auctions and open for inspections would have to stop amid the new suite of measures aimed at curbing the spread of the coronavirus, stating property auctions will be banned from midnight on Wednesday, March 25.
Richard Matthews Real Estate agent Vivek Tailor has ten auctions slated for Saturday, March 28 and has moved some auctions to this afternoon in the backyard of his strathfield office.
“We’ve had 30 odd groups of people through 28A Rigby Cr, Chipping Norton (above, below) and because the campaign has already been running for four weeks we have a fair bit of interest so we might be able to call a quick auction this afternoon but the forward-looking challenge is moving onto newer properties that have just come on the market,” he said.
“Most properties can now be switched to a for sale campaign and we will have to rule out auctions as much as we can – the whole point of them is getting a whole lot of people together to meet at a sales price.
“There will be a lot of digital interactions with the vendor, maybe holding private appointment, we will have to see what existing vendors want us to keep going.”
Professionals Paradise Realty Casula agent Stuart Zullo had the three-bedroom at 5 Lewis Road, Liverpool, (above, below) slated for auction this Saturday and said he will instead be selling it with the buyers that have already inspected and negotiate a deal like a private treaty.
“There are two different systems we can use one moving forward – one with an auctioneer conducting the bids or an online platform where people can bid … we will need to adopt different systems to keep the wheels turning.”