QLD property industry already adapting to new ways of buying and selling real estate amid coronavirus crisis

first_img *Private inspections only “This includes social distancing measures and the use of technology in place of open home inspections and in-room auctions,” Ms Conisbee said. *No public onsite or in-room auctions *No open home inspections But Ms Mercorella said it was “vital” real estate professionals were allowed to continue to operate during the crisis to ensure the market could provide a solid foundation for the economy.“Every Australian needs a home. Whether that home is owned or rented, in almost all cases a real estate professional’s services are required to facilitate the journey,” she said.One of the first to respond to the changes was one of the country’s biggest agencies, the Ray White Group, which sells one in eight houses in Australia and New Zealand.Ray White Group managing director Dan White said in a statement that “it appears the scope of new business operating practices the group proposed earlier (Tuesday) to support the flattening of the COVID-19 infection curve has been endorsed as appropriate”.Ray White Group managing director Dan White.“The key message to take away is that all real estate onsite and in room auctions and open house inspections will be cancelled as of Wednesday night, but our members will still be able to host virtual property tours, private inspections and online/digital auctions, as we have been encouraging,” Mr White said.“We will carefully adhere to the latest restrictions.”Realestate.com.au chief economist Nerida Conisbee said only about 10 per cent of residential sales in Queensland were via the auction process. REA Group chief economist Nerida Conisbee.“Brisbane’s not a big auction market anyway so it won’t have the same impact we’ll see in Melbourne and Sydney,” Ms Conisbee said.’Realestate.com.au has launched virtual tours of properties listed on its site to help home hunters.“For people looking to buy, the bigger deal will be not being able to go into the home,” Ms Conisbee said.Buyer’s agent Rich Harvey of propertybuyers said now was a good time to consider buying a home for those who had secure employment and finance already approved.Mr Harvey said investors should be prepared to buy before the market bounced back, and for those who were struggling, they should talk to their bank about getting a better rate to refinance or taking a mortgage payment holiday. “Don’t panic – it is not the time to sell the family home,” Mr Harvey said. “Stay the course and talk to your bank about holding on.“We will get through the crisis.”Property analyst Terry Ryder of Hotspotting also sees this time as a buying opportunity.“It is a time to be looking for opportunities, when others are perhaps intimated and sitting on the fence,” Mr Ryder said.“I believe it (coronavirus) is going to change the way in which we interact with each other, but I don’t believe it is going to fundamentally change the property market.”Property analyst Terry Ryder of Hotspotting.There are still 73 auctions scheduled in Brisbane this Saturday — up from 59 last weekend, but the Real Estate Buyers Agents Association (REBAA) believes that number will start to reduce.REBAA president Cate Bakos said she believed the changes would result in selling agents steering away from virtual auctions in favour of private treaty sales. “While virtual auctions probably won’t be banned as they technically don’t infringe on the social distancing rules, agents will likely veer away from them as they can’t build the same number of buyers or read the competition like they ordinarily could via the private treaty process,” Ms Bakos said. “Buyers won’t want online auctions without visibility. There is no way to guarantee against false bidding and even if selling agents are honest, buyers will still hold the element of distrust.” Ms Bakos said there were several alternatives to selling property than by public auction, including by private treaty, ‘best and highest’ regimes and via expressions of interest (or tender). Christine Rudolph of Ray White New Farm said she started conducting private inspections for prospective buyers and offering virtual tours a week ago.More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours ago“I said; ‘We’re going to be proactive, just in case we go into lockdown,” Ms Rudolph said.“I’ve had three really strong inquiries this morning on the back of virtual tours.”Ms Rudolph said she was finding many prospective buyers were happy to do a virtual tour of a property before then organising a private inspection.Ray White’s Christine Rudolph is offering private inspections of this penthouse at 48/30 O’Connell St, Kangaroo Point.“I’m finding there are two types of buyers: the ‘must buy now’ buyer who has sold their property and don’t want to rent, and the opportunistic buyer, who wants to take their money out of the sharemarket and put it into the safer investment of property,” she said.“There are also two types of sellers at the moment: those who have already purchased elsewhere so they are committed to sell, and the commercially minded seller who wants to take cash out of property and reinvest it in the sharemarket, where there are good buying opportunities.”Cheryl Macnaught is one of those sellers. Inside the property at 48/30 O’Connell St, Kangaroo Point, which is for sale.Ms Rudolph spent yesterday conducting private inspections of the four-bedroom, three-bathroom penthouse she is selling on behalf of Ms Macnaught in Kangaroo Point at 48/30” O’Connell Street.Ms Macnaught, a former financial adviser, said the Kangaroo Point apartment was one of a number of surplus properties she was looking at selling at this time.“With what’s happening with the markets — and this is going to be worse than the GFC — it’s a very good time if you’re sitting on cash in the bank to look at the sharemarket,” Ms Macnaught said.“I’ve recommended to clients in times like this to keep enough cash on hand for at least 12 months of living expenses. and those who have been doing it would not be in a worried state at the moment if they lost their job.” THE NEW RULES FOR BUYING AND SELLING PROPERTY Real Estate Institute of Queensland CEO Antonia Mercorella. “While in-room auctions cannot be conducted for the foreseeable future, online and telephone auctions will inevitably become the new normal. center_img *Online auctions only “With restrictions on open home inspections, which traditionally attract large groups of people also prohibited, private inspections by appointment remain a workable option coupled with hygiene safeguards as recommended by Queensland Health which ensures real estate transactions can and will continue.” Ray White New Farm real estate agent Christine Rudolph during a private inspection of a Kangaroo Point property with a potential buyer, in the wake of new changes to the way property is bought and sold following the coronavirus crackdown. Photo: Steve Pohlner.QUEENSLAND’S real estate industry has already adapted to new ways of buying and selling property after an escalation in COVID-19 led the federal government to ban all public auctions and open for inspections. The crackdown announced by Prime Minister Scott Morrison on Tuesday night had been anticipated, with many agencies having already made the switch to online auctions, private inspections and virtual tours in recent weeks. Sellers are being urged not to panic as property experts say this is the time to buy, with the market likely to head into a “short, sharp downturn” before quickly rebounding.The PM’s announcement follows an early Tuesday call by the Real Estate Institute of Australia for significant changes to be made to the way all agencies conducted their business. Real Estate Institute of Queensland CEO Antonia Mercorella said the REIQ had already been working with the state’s real estate industry to prepare for the changes, including distributing toolkits with strict health measures and alternative methods for real estate transactions. *Virtual tours of properties allowedlast_img read more

DepEd-Antique gets P20M for schools’ blended learning

first_imgA teacher in Magtulis Elementary School in Barbaza, Antique discusses with her students during a class. The Department of Education in the province has received P20 million to use for the blended learning of its schools this year. MAGTULIS ELEMENTARY SCHOOL FB PAGE Beriong said they are still negotiating with other media outfits for a free channel or their monthly air time rate. SAN JOSE, Antique – The Provincial School Board has allocated P20 million for the blended learning of its schools for this school year 2020-2021. “I am happy that the Barbaza CATV is giving us a free channel,” she said. The modules that will be developed by the DepEd central office will be mass-produced for the 140,000 learners in this province, Beriong added. Department of Education (DepEd) in Antique division superintendent Felisa Beriong said blended learning will make use of learning modules and the mass media.“We will be purchasing two units of risograph which amounts to P1.4 million each for the mass reproduction of the modules,” she said on June 17.center_img Aside from the modules, the DepEd-Antique is working out with two cable televisions (CATV) and radio stations in this province for possible time slots where teachers could air their lessons. She said they have also initially procured P2 million worth of paper for the modular reproduction. According to Beriong, the risograph machines are brand new and can each reproduce 120 pages per minute with sorter and tucker. The DepEd-Antique superintendent added that they would need a small recording studio in their office since they will be producing learning materials for cable channels and radio.“DepEd will need P400,000 to put up the recording studio,” she said, noting this will be included in their request to the PSB for additional budget. (With a report from PNA/PN)last_img read more

Pochettino: No issue with Adebayor

first_img Pochettino said: “My relationship with Ade? It’s a good relationship, the only problem is I need to pick 18 players for every game. “Now I am picking (Harry) Kane or (Roberto) Soldado but the relationship is good.” Adebayor’s absence has been overshadowed by the irrepressible form of Kane, who is expected to return to the Spurs starting line-up on Sunday after he was rested for Thursday night’s 1-1 draw with Fiorentina. Tottenham face a demanding schedule in the coming weeks, with six games in 17 days including next week’s return leg in Florence and the Capital One Cup final against Chelsea. “It’s a critical period as we have a lot of finals,” Pochettino said. “Sunday is a final, Thursday is a final, next Sunday is the Cup final. “It’s true we have very tough games. We need all our energy and to be focused in every game.” Tottenham must try to juggle their cup commitments with the league, where they currently sit sixth and only three points off the top four. Adebayor is unlikely even to make the bench for Sunday’s Barclays Premier League game against West Ham, to whom the striker almost secured a January loan move before chairman Daniel Levy blocked the switch. The 30-year-old seems surplus to requirements under Pochettino given he has not played since coming off the bench in Tottenham’s 2-1 FA Cup defeat to Leicester almost a month ago. Tottenham head coach Mauricio Pochettino insists he still has a “good relationship” with Emmanuel Adebayor, despite the striker not featuring in any of Spurs’ last five matches. West Ham’s own European ambitions have been dented of late, with last weekend’s 4-0 FA Cup humiliation at the hands of West Brom coming on the back of three league games without a win. The dip in form has prompted speculation about the future of Hammers manager Sam Allardyce, whose contract expires in the summer. “It’s difficult to put (myself) in his place. I admire Sam Allardyce, we have a very good relationship,” Pochettino said. “I am how I am, always with one-year contract or with a five-year contract – my style and my thoughts are the same but I think that to develop a project you need time. “In football it’s difficult for the clubs to give time to work because we need the positive results. If not we are in trouble.” Pochettino, who has no injury concerns, rested Kane, Ryan Mason and Mousa Dembele against Fiorentina and all three are likely to come back in against the Hammers. Meanwhile, Allardyce believes he could have got the best out of Adebayor had he been able to land the striker last month , on the final day of the January transfer window. Adebayor has played just three times for Spurs since their defeat to Stoke on November 9 and has also been the recipient of jeers from home fans during that time. “Goals,” was Allardyce’s simple reply when asked what the signing of Adebayor would have brought to West Ham. “If you see where he has gone and his initial impact at where he has been would be that he comes into a football club and scores goals on a regular basis. “There is obviously one of those players that you have to look at him and as a manager and say ‘how do I react with him and interact with him and on the basis of how well I interact is on the basis of how well he plays for us’. “So you use your management skills in terms of looking at his personality, like you do with most players and talking about wanting the best out of him while you are here, and wanting him to enjoy your football and do what you do best – play and score goals. “I never really think I have anybody signed until I know they are at the training ground at the final pieces, however long, or short the contract is. It looked a really good possibility but I was keeping my fingers and toes crossed. “If you are in the transfer window and a quality player comes your way and you think he is a quality player, some people say ‘do you need a player in that position?’ – but the bottom line is that he is a quality player. “If you can get him, for me you get him if you can afford him. That is what we tried to do. There was such a short time frame at that time it was not possible to be pulled off.” Winston Reid and James Collins will return to the West Ham squad at Tottenham. The defensive duo have been missing with hamstring problems but are both back in training – as are Diego Poyet and Cheikhou Kouyate, who is available despite suffering a minor arm injury earlier in the week. Morgan Amalfitano is suspended and Nene, who was signed earlier in the week after Andy Carroll (knee) had been ruled out for the season, will also miss out as he is not yet match fit. Press Associationlast_img read more