WAOR has received a lot of questions and concerns on how COVID-19 could impact listings, your clients, and how it could affect Real Estate services. Below are some helpful links, recommendations and best practices for you to consider.
Listing within the WAOR MLS:
You may use the Temporarily Off Market (T) status if you're discontinuing all types of showings, including virtual. While a property is in a Temp off Market status, the Days on Market (DOM) do not accumulate. When a property is in a T Status, there is still an active and valid listing agreement in effect and the seller is still planning to sell the property.
- DOM & CDOM: Both DOM & CDOM do NOT accrue while a property is in T status, and there is no limit to how many days a listing can be in T status. Keeping a listing in T status will also prevent agents from contacting your client, since an active listing agreement is still in place.
- Expiration Date: Listings will still Expire while in T status. Make note of your Expiration Date when putting a listing into T status.
- You may also Withdrawal/Terminate (W) your listing but note that the CDOM will not reset until 90 days have passed.
If your client would like to keep their property on the market, consider virtual showings. This can be accomplished in many ways. Here are some ideas; virtual tour via FaceTime, recording showing in advance and creating a URL to post on your website or send out via email.
If you are going to continue to allow on-site showings for your listing, please ensure the proper safety measures are in place and you and your clients follow the CDC COVID-19 guidelines:
The CDC urges individuals to take these measures to protect themselves and others:
- Wash your hands frequently with soap and water for at least 20 seconds. If soap and water aren't available, use an alcohol-based hand sanitizer.
- Avoid touching your eyes, nose, and mouth with unwashed hands.
- Practice social distancing by staying out of crowded places, avoiding group gatherings, and maintaining distance (approximately 6 feet) from others when possible.
- Avoid close contact with anyone who is sick.
- Stay home if you have a fever, cough, shortness of breath or any other cold or flu-like symptom.
- Clean and disinfect frequently touched objects and surfaces.
- Cover your mouth and nose with a tissue when you cough or sneeze, or cough or sneeze into your sleeve.
For more information and the latest updates from the CDC click on the link provided here: https://www.cdc.gov/
Emergency Orders regarding evictions issued by the Texas Supreme Court:
Emergency Order 4: https://www.txcourts.gov/media/1446203/209045.pdf
Emergency Order 5: https://www.txcourts.gov/media/1446205/209046.pdf
Evictions and Foreclosures concerning HUD FHA-insured single family mortgages and reverse mortgages:
Foreclosure and Eviction Moratorium: https://www.hud.gov/sites/dfiles/OCHCO/documents/20-04hsgml.pdf
HUD Press Release: https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_042
Greater Waco Chamber Resources:
This resource page has great information regarding COVID-19 updates, The Texas Workforce Commission, and details on the U.S. Small Business Administration Small Business Guidance & Loan. The Chamber has a direct link on their website to apply for the Disaster Loan Assistance which is available for Businesses, Private Nonprofits, Homeowners, and Renters. https://wacochamber.com/covid-19/
U.S. Chamber of Commerce COVID-19 Resources:
National Association of REALTORS® Guide for REALTORS®:
NAR has developed some great guidelines for REALTORS® and Brokerages on COVID-19 and its impact on their business. Please see below for links to those guidelines:
Texas REALTORS® Resources for COVID-19:
Texas REALTORS® will also be updating their website with important information and updates concerning COVID-19. The Legal Hotline (800-873-9155) will be responding to inquiries from members regarding the impact COVID-19 may have on your business. The Texas REALTORS® Legal Hotline has also developed a FAQ’s section for Brokerages, Closings, Leasing and Property Management, and have also created an COVID-19 Addendum:
Link to Texas REALTORS®
Texas REALTORS® COVID-19 Forms:
COVID-19 Addendum (TXR-2520)
TREC FAQs and Resources:
TREC- Frequently Asked Questions regarding the impact of COVID-19: https://www.trec.texas.gov/article/impact-covid-19-frequently-asked-questions
Visit the TREC homepage for more information and updates: https://www.trec.texas.gov/
WAOR Affiliate Members COVID-19 Office Procedures:
Information concerning are Affiliate members COVID-19 office procedures. Please click on the company name to access procedures.