Following the Victorian government’s announcement of Stage 4 restrictions, it’s safe to say Melburnians have a few questions about what we can and can’t do when it comes to property.
There is new information released each day and we will continue to keep you informed so that you may navigate this tricky period.
Are real estate agencies still open during Stage Four restrictions?
In terms of physical presence? No, in line with stage 4 restrictions our office will be closed for the next six weeks. Our staff have been armed with all of the technology needed to transition smoothly to working from home.
So are you working?
Yes, absolutely, our team continues to work from home and is available by mobile or email.
I need to sell my property, what do I do?
If you need to sell your property then we are here to help.
Selling a property can be quite stressful and there are a number of things you need to think through and get organised prior to your property going live on the market. This is an ideal time to be planning for your future and we can help you do this with a virtual appraisal and full sales strategy personalised to your property which will include how we plan to time the sale around changing restrictions.
Why should I sell my property with Frank Gordon?
Frank Gordon has been selling and leasing Port Melbourne real estate for over 50 years. We have been through recession in the 1990’s, the GFC in 2007 and the real estate crash of 2018. We understand how to effectively manage property during changing conditions.
In 2019 we were the leading agency in House Sales in Port Melbourne. We have an incredibly thorough database of active buyers who are pre-qualified and ready to purchase in the area. When it comes to selling your own property, this active, local database can give you an incredible edge on the competition.
If you have any further questions about our ability to effectively sell property during challenging times, just check out our latest results paying attention to the properties we sold in the midst of the first and second lockdown: 65 Alfred Street, 138 Munro Street, 2 Beacon Road, 23A/200 Bay Street and 107/91 Dow Street.
What is involved in a virtual appraisal?
To book a virtual appraisal contact our Managing Directo Frank Callaghan here
We will start by thoroughly researching your property and comparable sales online.
We will then book a time to have a virtual consultation via FaceTime, Zoom, Microsoft Teams or another virtual platform.
We will then provide you with an estimate of value as well as a full sales and marketing strategy, including how we can best time the sale and how you can best prepare your property for sale to achieve the strongest results.
We will present this strategy to you once again virtually, allowing you to ask any questions you may have.
This will help arm you with the tools you need to make an informed decision about selling your property.
Can I sell my property in the next six weeks?
Frank Gordon has been an active member of the Real Estate Institute of Victoria (REIV) for more than 50 years. Frank himself is a former president of the Bayside branch. We are constantly in contact with the REIV who are lobbying the Premier’s office for clarity on restrictions. One area we require clarity is private inspections for properties for sale. The default position until advised otherwise is that we will not be able to conduct inspections. We will continue to provide news on here as it is released.RENTAL QUESTIONS:
I’m a landlord, will I still be receiving my rent?Yes, we have the technology in place to continue to receive and distribute rent. Our Trust Accountant has trialled working from home to ensure a smooth transition.What does this mean for tenants?The nature of stage 4 restrictions mean that reduced hours, job losses and reduced salary is expected across a number of industries. We expect an increase in tenants applying for rent reductions and deferred rental agreements. We are also expecting that many of the tenants who have applied during the earlier lockdowns will be applying to extend this agreement.This is not great news for anyone, and you have a right to feel upset. Nobody wants to think of anyone in financial difficulty and we know that many of our landlords rely on their rental income as their primary source of income. All we can ask is for your continued patience and understanding as we navigate through this period.The process for applying for rental relief has not changed. Tenants need to put the request in writing via our website and provide us with a number of documents including correspondence from employers, evidence of income before and after the change in circumstances and evidence of any applications made to government and state agencies for financial assistance.What about maintenance?Emergency maintenance will continue to operate however in line with government instructions non-emergency repairs will cease during stage four restrictions.We will continue to liaise with tenants and yourself in regards to what is needed for the property and will take note of any agreed repairs to be completed after this period.What if my property is vacant?The Premier has confirmed that services related to property settlement or end-of-lease (including removalists) are permitted under stage four restrictions. This means we can continue to provide end-of-lease inspections and reports.What about properties for lease?Frank Gordon has been an active member of the Real Estate Institute of Victoria (REIV) for more than 50 years. Frank himself is a former president of the Bayside branch. We are constantly in contact with the REIV who are lobbying the Premier’s office for clarity on restrictions. One area we require clarity is properties for lease. The default position until advised otherwise is that we will not be able to conduct inspections.What about the property market in general?The property sector has already demonstrated great resilience since the emergence of COVID-19 in March, seamlessly adapting to new market conditions. The recent announcement on stage 4 restrictions will present a new set of short-term challenges for the Victorian real estate industry. We remain confident that once the current health crisis is under control in Victoria, a sense of normality will return and the market will recover, just as we have seen throughout the rest of Australia.We are working on a full market analysis on how stage four restrictions will affect the real estate market and will place this on the blog once it is ready.
We endeavour to provide regular updates on COVID-19 and how this is affecting property. This means we need to operate at speed, often speaking to you while waiting for further announcements and clarifications from the government and other third parties. Information in this article is correct as of the date of publication and is subject to change.
The information and any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters.