Innovative Ray White expects ‘quantum lift’ in property sales

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Ray White New Zealand chief executive Carey Smith has welcomed the news from the Prime Minister that the nation is moving to Alert Level 2 restrictions.

This will allow a more “normal” operating environment for property buyers and sellers.

“We have been working closely with the regulatory bodies to ensure that all our members are ready with safe best practices in place. We are ready and waiting for this next step,” said Carey Smith, chief executive of leading agency group, Ray White New Zealand.

One of the nation’s leading agencies – with 178 offices across the country – welcomed the new guidelines for the real estate industry which are to be introduced under Alert Level 2.

As part of the government’s focus to get business up and running in a safe environment, sales agents and property managers will be able to extend their activities with physical distancing and contact tracing of all customers and clients. 

One of the more significant changes is allowing safe open homes and rental viewings which will be a welcomed benefit to those who are buying, selling or looking to rent a property.

“Our group saw extraordinarily high numbers of buyers inspecting property under the restricted private viewing provisions of Level 3. This has resulted in sales being negotiated remotely,” Mr Smith said.

“While this has been part of the guidelines in Level 3 this will now change to enable more competition to be introduced with open homes and also combining the ability to undertake online auctions or auctions in rooms with safe distancing,” said Mr Smith.

“The move to Level 2 is expected to see sales take a quantum lift and start to migrate back towards the previous levels during the latter part of May and June. 

“Listing portfolios across the country, however, are lower and it is a good opportunity for those sellers who are looking to capitalise on the depth of the buyer pool to be able to list their property now.”

The Ray White Group will continue to offer property viewings in a safe environment either via private inspection or open homes. 

“Ray White offices have been at the forefront of innovation in regards to online auctions and virtual property viewing. These platforms will remain as operating options and add to the extensive marketing platforms that Ray White offers its clients.”

Among other changes, is that the guidelines will allow real estate offices and property management offices to open to the public. 

“Where open homes and rental viewings can be conducted, they will be done so with safe distancing. Listing agreements, sale and purchase agreements together with rental agreements will be able to be negotiated and executed in person. Auctions will have a mixed model of online and in rooms subject to the guideline requirements,” Mr Smith said.

Pre-settlement inspections are allowed with settlements and house moves able to occur between regions.