Real Estate industry turns to technology to keep South Australia’s property market afloat

Real Estate industry turns to technology to keep South Australia’s property market afloat nmprofetimg 1646
Real Estate industry turns to technology to keep South Australia’s property market afloat capi 05e5ffa546ec8550d99963031fa21d74 a92faa951a6f257acb633c0fd1173bc3

The property market has some challenges ahead of it now auctions and open homes have been banned to reduce the spread of COVID-19.

The real estate industry is switching to technology to prevent South Australia’s property market from coming to a halt in the wake of the coronavirus pandemic.

Agents were already taking social-distancing precautions before Prime Minister Scott Morrison announced auctions and open homes would be banned as part of stage-two restrictions.

They will now use technology to keep the industry afloat, including apps that will allow househunters to inspect homes virtually and bid at live-streamed auctions.

Real Estate Institute of South Australia president Brett Roenfeldt said vendors would still be able to sell their homes and househunters would still be able to buy new ones.

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REISA president Brett Roenfeldt. Pic: supplied

“Basically (Mr Morrison) is forcing the real estate industry not to have gatherings of people,” he said.

“An auction can still be done but it will have to be done on some sort of online platform.

“We can do inspections by appointment one-on-one as well.”

Mr Roenfeldt said he was confident the industry could handle the changes.

“We’ve just got to abide by the rules and we’ve got to be positive about it.”

LJ Hooker SA/WA managing director Andrew Friebe said the new rules would change the way business was usually run but it was possible to sign documents electronically and conduct virtual tours and auctions through apps like FaceTime and Zoom.

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LJ Hooker state managing director Andrew Friebe. AAP Pic: Brenton Edwards

“It has its challenges but it’s not the end of the world,” he said.

“We’re well-equipped from a technology point of view.

“A lot of out agents are already doing virtual inspections.”

Harris Real Estate managing director Phil Harris said while technology to live-stream auctions in particular had been around a while, it would still take time to adjust.

“It hasn’t been something that’s been of mainstream use,” he said.

“I think the reality is there’s going to have to be a level of adaptation.

“On the flip side, when we finally move through this, the industry and the public are going to be so much better off.

“The show will definitely go on.”

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Harris Real Estate managing director Phil Harris. Pic: Supplied

Harris Real Estate agent and auctioneer Simon Noakes said he had seven new listings coming to market this weekend.

While the market was slowing down, Mr Noakes said there were still people out there who needed to buy and sell.

“There is still a strong appetite from buyers,” he said.