Johannesburg – As the government-sanctioned Covid-19 lockdown continues, South Africa’s property sector is transitioning from a traditionally interaction-heavy industry to online. The effects of COVID-19 are forcing businesses to reinvent themselves in the way they operate.
According to consulting firm PwC, rapid innovation through digital is now more critical than ever.
“Organisations that are designed for the digital are able to rapidly develop or enhance offerings by adapting and reconfiguring digital services to meet changing customer needs,” it says.
This week, the country will see its first live virtual property auction in which all bids will be accepted through a variety of digital channels, including video apps and live streaming.
High Street Auctions will be conducting the sale and says this will be off the back of hi-tech, detailed 3D virtual property tours already taken by registered bidders from across the country.
“At the beginning of the outbreak, High Street already possessed the most advanced digital auction platform in South Africa that streamed our live auctions and accepted both real-time and commission bis placed in advance,” said Director and lead auctioneer Joff van Reenen.
The company says it has invested in technology that showcases every seller’s property in a full 3D, 360-degree virtual walkthrough formation its website, allowing potential buyers to examine everything.