25 March 2020,
Dear AVAA Members,
In this unprecedented time in Australia, and with restrictions being enforced and continuing uncertainty, we want to take the time to outline what the AVAA is doing and how we aim to support our valued members. We have also set out our response to the new restrictions, regarding auction houses, announced overnight.
In the first instance we want to ensure the health and safety of our members, their staff, colleagues and families remain safe in this time. It is key to continue to monitor the advice given to ensure safety measures are in place, and all restrictions are followed.
The AVAA will continue to focus on our members and will we will work to limit the impact for our members as much as possible. We will continue to communicate initiatives we are working on through email.
New restrictions on Auction Houses announced overnight
It is clear from the Press Conference made overnight that from midnight tonight any auction houses that gather crowd for the purpose of running that auction is no longer able to continue running auctions in that format. This is a logical step in the fight to reduce the spread COVID 19, the most effective measure is to reduce social contact.
What is not entirely clear is whether auctions can continue online given the obvious ability to participate in those auctions without being physically present in an auction house. We believe the intention of the government is to only restrict the gatherings in auction rooms, which were the words from the Prime Ministers Press Conference:
“In the retail space, auction houses, gatherings together in auction rooms, that can no longer continue. Real estate auctions and open house inspection”.
The AVAA has once again engaged with DPG Advisory http://dpgadvisory.com.au/ to liaise and work with government in the event of a shutdown. In order to urgently seek clarification for our members on these restrictions, DPG Advisory is engaging with government on our members behalf and we will be following up today with an updated communication clarifying these restrictions for you.
The AVAA believe Auction houses have the ability to provide financial liquidity in a constrained economic environment, which is critical to keep people from further financial hardship, for both business and personal alike. We are in no way suggesting we play any vital or essential role in health services and we are incredibly grateful for those carrying out those roles to assist us all. We believe we are simply an essential service to the economy and will be a vital part of the rebuild efforts in the future.
The AVAA is commencing a digital marketing campaign aimed at highlighting that many valuations can take place remotely, and that they can find a Certified Valuer through our website search functionality. I encourage each member to ensure their contact details, and areas of expertise are up to date in the member portal at avaa.com.au. We will be promoting our certified members, and exactly why it is important now, more than ever to ensure that a valuation should be completed by a certified valuer.
We are working with the IVSC and their partners to seek guidance on remote valuations and will advise any amendments we suggest to valuations will be communicated to you.
We are also working with the IVSC to establish a valuation standard that takes into account the current global pandemic that our valuation members can look to use in your reports going forward.
Business Continuity Planning
It is a necessity that each and every member and company take a look at how they are currently operating and to identify ways they can continue to operate in this uncertain environment. It is key, with the possibility of lockdowns, to future proof your business.
We will continue to send communications to our members highlighting relevant information, and offering support and advise where appropriate. We are also working on providing webinars to our members on relevant topics that can assist you and your business in this time. We will be in touch with dates and further information for you about these.
If you have any queries or require any further clarification in these times please do not hesitate to contact me.
Regards, and please stay safe.