4 fears of lockdown selling - are they worth the worry?

As the start of spring approaches, much of Australia's East Coast remains deep in lockdown, while other states find themselves in a precarious position thanks to the highly contagious Delta strain of Covid. 

What's supposed to be the beginning of a huge property selling season has been derailed by the virus, as nervous vendors withdraw from the market in fear that restrictions will get in the way of a good selling result. 

A number of concerns keep popping up around the lockdown selling process, but just how worried should people be? 

Fear #1: You can't get top dollar selling in lockdown

Among the greatest worries vendors are having about listing now is they'll miss out on getting the best price for their property. 

At the moment there are still buyers who are pre-approved, there are buyers that are hungry to secure a property. Prices are actually better now. Once the lockdown eases, a flood of properties coming onto the market will dilute the buyer pool and mean vendors won't hold the balance of power the way they currently do with stock so low.

Fear #2: Buyers can't inspect your property

The severity of restrictions on inspections varies from state to state, and so the severity of this concern depends on where you live and what the government will permit. 

In NSW, where the rules are a bit more lax and one-on-one inspections can go ahead. Buyers are not restricted. If they've got a genuine reason that they need to move home, nothing's stopping them from looking at properties. We qualify buyers, buyers that are in a position to buy are taken through. If they're just browsing they don't get taken through the property. So it allows us agents to deal with good quality buyers.

Fear #3: You can't get your home staged and marketed properly

In NSW while body corporates may present some hurdles in apartment and townhouse complexes, there are often ways to overcome those obstacles, and generally home stagers and trades are open for business. Every company we are dealing with has got to have a Covid-safe plan, they've got to be able to prove it and show exactly how they're using it.

Fear #4: Buyers have been put off the market

Buying and selling activity has indeed seen a drop since the latest lockdowns were instated, but that doesn't mean there aren't plenty of fiercely motivated buyers out there ready to pounce. 

Demand has indeed dropped, but stock has dropped even more significantly, meaning the net impact is that there are even more buyers out there per listed home.

Source - Openagnet