Suzana Wade of Locate Property, On The Impact Of COVID-19 On Real Estate

Locate Property, Principal / Licensee Suzana Wade speaks to The Researcher about the change in Real Estate due to COVID-19

The world has changed significantly in the past 12 months. With serious negative impacts on public health, tourism, the economy, and housing, life today is very different compared to the seemingly recent 2019.

Industry expert Suzana Wade said that COVID-19 has completely changed the real estate market.

“With the lockdowns and restrictions, Australians now look at their homes differently,” Suzana said.

“People are now spending more time at home, with working from home no longer being an unachievable luxury, this has made space a much bigger commodity than it was in previous years”.

With more people vying for larger properties and remaining within commuting distance to work no
longer a barrier, we’re seeing a surge of Australians moving away from the city to the suburbs. This has placed significant pressure on the rental market. Another new hurdle posed by the COVID-19 outbreak is that of social distancing restrictions and mandatory lockdowns.

Whilst these have been paramount in stemming the spread of the virus, they have made some of the daily activities in the real estate sector such as house inspections, open homes, and auctions impossible.

However, out of adversity often comes growth and this was a challenge Suzana Wade took head-on.

Suzana Wade from Locate Property | The Researcher

“Real estate is normally quite a slow-moving beast, it takes a lot before you see any change. I looked at this as a great opportunity to strengthen the business and bring it into the modern world”.

Whilst many real estates are still left picking up the pieces, Suzana is leading the way towards the future of the real estate. With a technology-equipped, full-service Real Estate Agency Suzana offers remote, online inspections. This allows for business to continue as usual despite the restrictions and
provides peace of mind to tenants.

Although a necessary change now, this shows great merit for a post-COVID climate too. Online inspections allow agents to showcase listings through videos. This can open a world of opportunities for the busy worker who can’t make it to inspections because they are not offered outside of their
work hours.

“I’m excited because not only does this make real estate more accessible, it could also open a whole new market of investors,” said Suzana.

Another way Suzana is keeping things running smoothly is by ensuring communication lines remain open.

“I have always valued great communication with my clients and tenants and I wasn’t about to let that go”.

Utilizing technology to her advantage, Suzana has set up highly secure video and audio software to allow for the private discussion of any concerns or queries with tenants.

“It keeps the tenants happy because it means issues can be rectified quickly. It also means the properties continue to be leased and of course, the owners love that too”.

It’s yet to be determined exactly what a post-COVID world will look like for Real Estate, but Suzana certainly seems to be at the front of the action.

“You can’t improve without a little bit of change. I’m thrilled with the changes so far and I’m so excited to see where we can take it next.”.