New Zealand’s COVID-19 Lockdown has forced some changes in the way real estate professionals appraise sale and rental properties. At Lochore’s, we’ve taken these changes in our stride, developing a virtual property appraisal service to get your home or investment property on the market, all from the safety of your home. Our market appraisal process may have changed, but your property and investment ambitions don’t need to.
Below, we offer some helpful answers to the questions you may be asking about virtual property appraisals and property assessments here at Lochore’s, as we adjust to this new normal together.
What is a virtual property assessment?
With New Zealand’s Lockdown in full effect and certain social distancing practices expected to remain in place for the foreseeable future, real estate salespeople cannot assess sales properties on-site. Instead, our team uses available technologies to connect with property investors like you to view properties remotely.
Thanks to a wealth of innovations in digital communications, we can deliver the same quality market appraisals for sales properties while helping to flatten the curve and keeping our fellow Kiwis safe.
What about virtual rental appraisals?
Virtual rental appraisals are conducted the same way our virtual property assessments are, except that they are administered by our property management team to determine the appropriate weekly rental value of rental properties.
What will my virtual property assessment look like?
Using online video conferencing programs and mobile phone cameras, we will connect with you at an agreed-upon time for our appraisal appointment. Once we’re online, we’ll ask you questions about the property and request that you show us around. You can then deliver a virtual walking tour of the property. We may stop you from time to time and request that you show us certain aspects of the property up close. We’ll combine our virtual tour of the property with our extensive knowledge of the area, local values, and complete detailed research utilising 3 databases for sales evidence, rental levels, and market trends. With all this information, we can then complete a written current market assessment. From your end, it’s that simple.
What do I need for my virtual property appraisal?
To book a virtual appraisal, you will need a mobile phone with a quality camera, an adequate internet connection (either Wi-Fi or a solid 4G network will work great), and a video conferencing program of your choice. This could be Facetime, Messenger, Zoom, WhatsApp, or any other popular video software. We’ll use whatever program works best for you.
How will I receive my assessment report?
Once our virtual appraisal is complete, we’ll provide you with a detailed assessment report via email in the next few days.
What does the property assessment report include?
We conduct comprehensive market research and combine that with our knowledge of the area, current market trends, and other properties to complete a written current market assessment (CMA). We also provide a recommended marketing strategy detailing all forms of promotion at the time of completing the CMA.
What’s the next step?
Our team may be working remotely, but we still provide the necessary digital documentation, which we can send via email. We are accessible by phone and online. Once you’re ready, we can start the process of putting your property on the market and maximising your returns. We have robust online marketing channels, use social media platforms as well as capitalising upon our existing database of long-term investors and pre-approved first home buyers. We also use electronic versions of industry-approved sale and purchase agreements and can auction if necessary.
Can we still meet in person?
During Alert Level 4, we will be unable to conduct in-person property assessments due to government regulations. Once the lockdown is lifted and we return to Alert Level 3 and lower, we will confirm our new processes. However, social distancing restrictions will still apply. We can provide further information by phone or email.
How can I arrange my virtual appraisal?
If you’re ready to book your virtual appraisal, simply click here to contact us. We look forward to hearing from you.