Real estate has become more virtual in recent weeks, as residents in nearly 30 states are now under stay-at-home orders to slow the spread of the coronavirus. It’s critically important to follow federal and state guidelines to fight the virus, but there are ways you can stay engaged with clients, show homes, and meet critical deadlines without in-person meetings. Mabél Guzmán, NAR’s 2020 vice president of association affairs, shares her extensive experience with virtual showings. Learn three key tips to help your business pivot to a virtual experience, remain effective, and keep your clients well informed.
But while such innovative methods can keep transactions on track, social distancing guidelines still cause a snag when it comes time to gather at the closing table. Enter: drive-thru closings. Title insurance companies are employing a method used by fast-food restaurants, enabling buyers and sellers to sign documents from the comfort and safety of their car without risking exposure to COVID-19. These measures aim to keep home sales healthy through the pandemic. Speaking of which, pending sales in February, released today, showed strong housing demand. Although March numbers will certainly begin to reflect the challenges the pandemic is creating, today’s numbers are a good sign that the underlying fundamentals of the market are strong.
Now that the federal government’s $2 trillion stimulus has been signed into law, real estate pros around the country are asking an array of questions, from how to apply for so-called Pandemic Unemployment Assistance as independent contractors to how to take advantage of relief for small businesses. It will take time for the federal and state governments to implement these measures. NAR will be here to help with FAQs that will be updated as details become available. We’ll be reporting these updates, too, so if you’re not a regular Daily News subscriber, sign up here to stay informed. (Login is required.)
For the latest information NAR has about all aspects of COVID-19 and real estate, keep monitoring nar.realtor/coronavirus.
Catch up on the news:
· NAR Offers Relief on Business Tools During Crisis
· ‘I Will Survive’: REALTOR® Goes Viral With Songs to Soothe
· Mortgage Giants Ease Appraisal Requirements
· NAR’s COVID-19 Response Hotline Available for REALTORS®
· Could Empty Malls Come to Rescue of Coronavirus Victims?