As a new week dawned yesterday on a very surreal set of circumstances, not only for the real estate industry but the world as a whole, Realmark Group Managing Director, John Percudani addressed his team with his 30 plus years experience including six economic downturns.

“We are in a marathon together,” said Mr Percudani.

“Over my 30 plus years in the real estate industry, I have witnessed downturns in the property market, the key difference today is we are facing a health and economic crisis with rapid shutdown on a worldwide scale. 

“Whilst we cannot control the virus, we can control our behaviours and how we do business.

"This will not last forever, together we stand strong for our families, team and community.”

The Realmark Group rolled out their remote operations two weeks ago, moving all systems and transactions to a virtual environment set up last year.

“Our priority throughout this situation is the health and well being of our families, teams, clients and the community," said Mr Percudani.

"The initial reason behind the move to a digital landscape was to support in-the-field team members with assistance from anywhere on the road.

"This has allowed us to roll out the network rapidly, providing a sense of calm to the team.”

Mr Percudani said the property market runs on two key factors, financial liquidity and sentiment.

"The market will be impacted as these challenges run their course, but they will rebound," said Mr Percudani.

"It is important to highlight that a fall in the equities market does not necessarily correspond to an equal fall in the property market.

"It will be affected by market sentiment, duration of the pandemic, employment security and financial options.

“Often, we see investors shift from equities to property in such circumstances.

"From previous experience, which I have witnessed, there is usually an upturn in transaction volumes once the market settles."

Mr Percudani said this is partly because pent up demand is released, people act to reset their long term aspirations and goals, which are advanced opening up opportunities in the market inviting buyers to act.

Realmark has adopted 3D and virtual tours to continue with home opens, and clients can use the group's Teams app to conduct meetings and inspections.

Realmark’s award-winning Set Date Sale has also been shown to deliver results in this market, with the group's move last year to combine it with REIWA’s RESO application, making a property selling and buying experience completely online, including documentation and contracts.

“Our commitment to innovation over the years has proved to be invaluable, our team is collegial in their approach and we are very proud of how they have moved with agility to make things happen so quickly, we will continue to do what we can to help West Aussies achieve their aspirations through residential, commercial and strata property," said Mr Percudani.

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