Date: 31 July 2020

Selling Property during Coronavirus

Here at Frank Gordon, community is at the core of what we do. We are here to support you during this time and if you have any questions, please do not hesitate to get in touch.

We understand that things are moving quickly, so to help our clients keep up to date with the latest Coronavirus information we have put together a series of frequently asked questions for your reference.

Are you still open and how do I speak to you?

Frank Gordon remains open with social distancing in the office in place. You can still call us on 9645 2411 as usual. Otherwise you can still contact our sales agents at any time by calling their mobile number, or via email.

How has Coronavirus impacted the state of the market?

We are still seeing a significant volume of buyer activity in the market and have facilitated a number of fantastic transactions over the past few months. We have adapted how we do business and are still conducting numerous private inspections each week which is evidence to indicate that the market is still very much active.

In terms of sales volume, it has been quieter than usual with 1/3 of the usual properties coming to market. This lack of stock has been predicting local prices to a degree as it has created a bottle-neck of demand. What we are seeing is that days on market seem to be a little longer across Melbourne, as buyers tend to require more time to conduct due diligence, negotiate their finance and get their ducks in order.

Are properties still selling?

Yes, properties are certainly still selling. In the last week alone Frank Gordon has transacted more than $2,000,000 in local sales. All of these properties were listed, and sold during the lockdown periods in Melbourne. We are in direct contact with a very active pool of local buyers who are wanting to purchase. Our focus is matching these buyers with the right property.

How do I organise an appraisal?

We are still able to offer market appraisals in person in a private appointment. Alternatively if you prefer we can offer you a virtual appraisal and opinion of value without needing to physically meet in person. We can do this via FaceTime, Zoom and various other live streaming platforms. If you would like to organise an appraisal call us on 9645 2411 or email michael@frankgordon.com.au

What are my options for selling method?

There are four options for selling your home,

• Private Sale
• Expression Of Interest
• Auction – Currently this is being conducted virtually using the latest technology “Anywhere Auction.”
• Off-Market

Can people still inspect my property?

Yes, we can conduct private one-on-one inspections with buyers. We are finding this process quite useful, as it means we are only interacting with highly active, qualified buyers. Plus the private nature of the appointments means we have more time to get closer to the buyers needs.

What are you doing to mitigate the risk of exposure to Coronavirus during inspections?

The health and safety of our staff, clients and wider community, remains our upmost priority during this time.

All buyers inspecting properties are pre-registered and we have all of their contact details. We have hand sanitiser available at all opens and ask buyers to use this prior to entering the home. During the inspection we adhere to 1.5 metre social distancing rules and ask that they do not touch the shared surfaces (such as doors, handles and taps). Instead the buyer directs our staff to do so when required.

Anyone who has recently travelled, come into contact with someone with Coronavirus or is showing symptoms of Coronavirus is asked to remain at home and will instead complete one-on-one video tours with one of our sales agents.

How has this changed the way my property is marketed? 

Here at Frank Gordon we tailor our marketing plans to each property. Some of the ways we have adapted our plans within the current market include,

• Targeted email marketing
  • Our current buyer open rate is double the industry average.
• Direct and active contact with our pool of active buyers on our database
  • All local buyers on our database searching for property similar to your own are contacted and sent your property details.
  • All buyers showing “intent” through our email marketing (clicking onto your property, reading further, forwarding emails) is contacted directly for a more detailed discussion.
• Increased social media and digital media advertising
  • Currently our impressions average between 80,000 – 140,000 per campaign.
• Increased video production
  • Bespoke property films help give buyers a better feel for your home prior to inspection
  • Agent-filmed inspection footage helps reinforce this message throughout the campaign
• Additional photography
  • Ensuring all rooms and key features of the property are captured.
• Virtual property inspections
  • Utilising the latest technology to create a 3D virtual inspection of your property

If you would like to know the average cost of marketing, or for a bespoke marketing plan for your property email michael@frankgordon.com.au or call us on 9645 2411

Why is Frank Gordon the right team to sell my property during this time?

Selling, buying or renting your home is a big deal. Property is arguably the most important assets many of us ever own, so when it comes to making major decisions, you need a safe pair of hands you can trust.

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 mange and sell property during changing conditions.

Our local focus has meant we have been able to focus all of our energy on finding and servicing local buyers actively searching in Port Melbourne, South Melbourne, St Kilda, Albert Park and the CBD. We have one mighty database of local buyers giving your property an edge on the competition.

Related Reading:

Second Wave restrictions and what this means for Melbourne Real Estate

10 DIY Tips for improving your homes value during isolation

Landlord and Coronavirus, frequently asked questions

Tenants and Coronavirus, frequently asked questions

Adapting our business practices 

The latest Coronavirus news from the Victorian Government

Please Note:

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.