Property Auctions

PHOTO: Auctions

While strong preliminary auction clearance numbers over the weekend allay immediate concerns over the impact of the coronavirus outbreak on the housing market, agents are being urged to be prepared if community fears worsen.

“We know there is a lot of fear out there, and it could very well spread to other parts of the economy easily,” said Louis Christopher, managing director of SQM Research.

REINSW President and managing director of Laing & Simmons Leanne Pilkington said they already have contingencies in place. Rhett Wyman

“Agents do need to start planning now because the risks have increased and will keep on increasing. If agents don’t have a plan, they’re going to let a client or a vendor down, big time.”

Mr Christopher said selling agents need to start thinking of how they will be offering properties if the coronavirus cases start to ramp up and large-scale shut downs will be put in place.