Restriction Ease in Real Estate Industry- What does this mean for your business sale?

As many of you may have heard yesterday, the Premier announced some early restrictions lifted due to positive decline of daily COVID cases in Metro Melbourne.

We have been eagerly awaiting advise from REIV as to what that means for business brokers, as our agents have been hopeful of getting back out there and conducting inspections safely with potential buyers.

Unfortunately, REIV has just released advise confirming the restriction list applies to residential only which means business brokers are not yet permitted to work outside of the home.

As many of you may have seen from Absolute Business Broker’s social media, we have been successful in selling businesses whilst closed from the usual operation and we are committed to continuing to the best of our ability until a COVID normal or further ease of restrictions to our industry take place.

Whilst we are limited to operating from home, we ask your assistance in providing us with further information to overcome the obstacles of no face to face inspections or travel outside of 5km for prospective buyers. 

Here are a few ways you can greatly assist us in representing your campaign under these stages of lockdown:-
1. Provide as many photos as possible, including back areas, outside and walkways.

2. Provide floor plan (as detailed as possible with dimensions would be much appreciated)

3. Take video on your smartphone of the premises, walking into the premises and carry through all the way to the back, (including any parking or rear courtyard space etc).

4. Send images of facilities such as toilets, storage cages, cold rooms, yards, delivery laneways etc 

If there have been any new updates on staff, trading hours, restrictions and turnover- please ensure you inform us. Unfortunately, the COVID crisis has been a longer strain to Melbourne Metro than first anticipated so it is important that the agent has the current information and breakdown of your business as buyers increasingly expect this information to be available.

To our regional clients, whilst we are glad to know many restrictions have eased for you- we are still unable to see you in person and an iron border between metro and regional also means inspections or visit of any kind from prospective buyers is unacceptable. If you could please also support your campaign and agent with requested information above, it would be very much appreciated.

We acknowledge this has been a very hard year for everyone, we are committed to representing your sale and available if you wish to discuss any concerns!

It appears there is light at the end of the tunnel and the declining daily cases are a welcome sign of hope that we can recover and get back out there soon!

Are you thinking of selling your business?

Absolute Business Brokers will provide you with a market appraisal that will ensure you are getting the necessary information to put you in the right position to get your business sold.