Digital inspections are here to stay as NSW cracks 1 million views: REA

COVID-19 led to some very quick changes to how property is viewed, bought and sold.

Following the implementation of government restrictions to public inspections and on-site auctions, the property industry reacted almost overnight, switching to digital inspections and online auctions.

With social distancing measures expected to start easing from next month, will any part of the transaction process be permanently changed as a result of COVID-19?

Prior to COVID-19, auctions only made up 15% of the overall sales market. Now, online auctions make up an even smaller proportion at 5%.

Online auctions are a great way to facilitate buyers that may not be able to attend in person so we will continue to see a small number of auctions held this way once restrictions ease. It’s more likely that when restrictions ease, on-site auctions will bounce back as before.

The benefits of digital inspections are here to stay. While good quality photography provides an indication of how a property looks, a walk-through video or 3D tour gives potential buyers significantly improved perspective on the quality, size and layout of the property.

Digital inspections are delivering more qualified buyers to agents, and that’s a good very thing.