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COVID-19 Updates

We will use this space on our website to offer you the most up-to date information on COVID-19 and how it affects RAFV, the real estate market and independent and small business owners. Newest information will be in RED.  Please scroll down to see all information.

If there is something you would like information on that you don't see here, please contact Lisa Ayres.

Allie's Little Avenue (45)

President Donald Trump on Friday signed a bill approved by Congress that amends the CARES Act to give more flexibility to Paycheck Protection Program borrowers regarding how they can use their loan proceeds. Relaxed rules under the PPP Flexibility Act, which was passed by the House last week and the Senate on Wednesday night, also affect some of the requirements for becoming eligible for loan forgiveness.

  • Borrowers now have 24 weeks, rather than eight weeks, to disperse their loan funds after receiving them in order to qualify for forgiveness.
  • The mandatory amount of the loan to be spent on maintaining payroll costs has decreased from 75% to 60%. The remaining 40% must be used for eligible expenses, such as utility payments, rent or mortgage interest, or other payroll costs.
  • The borrower must maintain the same number of full time–equivalent employees during the 24-week period of the loan as before the pandemic.

IL REALTORS® UPDATE - ROI - Revitalize, Opportunity, Influence

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Considerations for reopening offices (Guidance for brokerages and associations)

As all Illinois regions move into Phase 3 of the governor’s restoration plan, many of the now familiar safety measures remain in place. While more business practices will be legally permissible, this does not mean all should be immediately employed.

STATEMENTS REGARDING DEATH OF GEORGE FLOYD

The Division of Real Estate guidance provides best practices as we move forward in reopening our great state. Together we can ensure that the Illinois real estate industry continues to
move forward as our licensees provide critical services to Illinois residents and consumers.

Click HERE for document.

ILLINOIS REALTORS® UPDATE - May 30, 2020 Phase 3 of Restore Illinois Guidance from IL REALTORS®

As our Illinois regions move into Phase 3 of the Governor’s restoration plan, many of the now-familiar safety measures remain in place. While some business practices will now be legally permissible, this doesn’t mean that all available options should be immediately employed. With these concepts in mind, consider the legal answer to the questions below, along with suggestions for best practices.

Open Houses

Prior to May 29, 2020, open houses were prohibited per the Department of Economic Opportunity’s (DCEO’s) guidance interpreting the last gubernatorial disaster order.

 

Q. What is the status of this directive as of May 29, 2020?

A. Beginning on May 29, 2020, real estate brokerages are legally allowed to hold open houses so long as all of the safety measures can be observed. These include limiting groups to ten people or less (including owners and brokers who might be present in the property), social distancing where possible, with face coverings where social distancing can’t be observed and frequent cleaning.

 

Best Practices:

  • When conducting an open house, consider having the owner or listing broker open doors including closets and cabinets, turning on lights and opening window coverings to reduce the need to touch surfaces.
  • Incorporate a non-discriminatory appointment policy into open house day procedures to cut back on the number of attendees appearing at the same time.
  • Restrict access after each showing to allow time for disinfecting areas of the home previous attendees viewed.
  • Consider providing gloves and booties to all attendees of an open house and requiring face masks for all persons inside the home, even if social distance is maintained.

Even if legally permissible, brokerages should carefully consider whether open houses are the safest option for their clients, their brokers and consumers. Each attendee brings a different set of contacts into the property.

 

Brokerage policies should consider incorporating the use of technologies (like virtual open houses) to reduce physical presence for the early stages of marketing properties. Use appointments in a consistent and non-discriminatory manner to physically view the property and incorporate the best practices from above, while keeping the number of contacts smaller.

 

Showings of Tenant-Occupied Properties

Prior to May 29, 2020, showings of tenant-occupied properties were prohibited per the DCEO’s guidance interpreting the last gubernatorial disaster order.

 

Q. Are tenant-occupied showings allowed beginning on May 29, 2020?

A. As of May 29, 2020, the legal answer is yes, depending on the terms of the particular lease and/or any local, state or federal requirement to give a certain amount of notice to the tenant(s) prior to showing the rental unit. Any showing, after giving the tenant the appropriate notice, must be done in a manner where all the safety measures are observed, that is, physical distancing, face coverings or any other required PPE, small groups, hand washing and sanitization/cleaning of surfaces.

 

Best Practice:

  • Before entering a tenant-occupied unit, obtain the tenant’s express consent before showing a tenant-occupied unit.

NATIONAL ASSOCIATION OF REALTORS® UPDATES

 

NAR VIDEO PUA & YOU: The Pandemic Unemployment Assistance Guide for REALTORS®
Applying for Pandemic Unemployment Assistance (PUA) can prove to be a challenging puzzle. In this video, two labor and employment attorneys and two REALTORS® share their expertise and offer advice on the unemployment application process.

 

NAR VIDEO: How to Secure Your Business Through the CARES Act
In anticipation of additional federal funding for the CARES Act, we want to share a video we have created that offers guidance on how you can secure funds for your business.
The video features REALTORS®, with different business structures and sizes, sharing how they successfully obtained Paycheck Protection Program (PPP) and Economic Injury Disaster Loans. You’ll also hear tips on navigating the Small Business Administration, what forms to have on-hand when applying, and how to find a lender in your area.

Don’t wait—and be prepared when you apply—because funding is limited.

 

UPDATE:  June 4, 2020 Congress Approves Widened PPP Loan Terms

NAR Links - Living Documents...check back often

NAR's WEEKLY PIVOT IN PLACE SERIES

Each week, NAR Leadership and industry experts share tips and updates on the real estate industry during this unprecedented time.

June 1:  Navigating the Economy & Housing Market Through COVID-19
NAR Chief Economist, Lawrence Yun, shares economic updates and market trends for REALTORS®, buyers, and sellers.

ILLLINOIS REALTORS® UPDATES

Phase 3 Reopen Guidelines for Businesses Announced

Phase 3 of Restore Illinois will allow many businesses to open in limited capacity as early as May 29.

To prepare businesses and employers to implement the new safety guidelines and to bring many residents back to work, the State of Illinois has developed this business toolkit complete with signage, training checklists, and other resources to ensure business and activities are conducted in accordance with the latest and greatest public health recommendations.

Phase 3 guidelines span 10 different industry categories. Each set of guidelines includes a common set of guidelines that are expected and encouraged among all employers and activity types, as well as workplace and program-specific guidelines.

 

Common Guidelines for all Phase 3 Businesses and Operations to follow can be found in the Phase 3 Business Toolkit.

ILLINOIS REALTORS® UPDATE - May 30, 2020 Phase 3 of Restore Illinois Guidance from IL REALTORS®

effective May 29, 2020

As our Illinois regions move into Phase 3 of the Governor’s restoration plan, many of the now-familiar safety measures remain in place. While some business practices will now be legally permissible, this doesn’t mean that all available options should be immediately employed. With these concepts in mind, consider the legal answer to the questions below, along with suggestions for best practices.

Open Houses

Prior to May 29, 2020, open houses were prohibited per the Department of Economic Opportunity’s (DCEO’s) guidance interpreting the last gubernatorial disaster order.

 

Q. What is the status of this directive as of May 29, 2020?

A. Beginning on May 29, 2020, real estate brokerages are legally allowed to hold open houses so long as all of the safety measures can be observed. These include limiting groups to ten people or less (including owners and brokers who might be present in the property), social distancing where possible, with face coverings where social distancing can’t be observed and frequent cleaning.

 

Best Practices:

  • When conducting an open house, consider having the owner or listing broker open doors including closets and cabinets, turning on lights and opening window coverings to reduce the need to touch surfaces.
  • Incorporate a non-discriminatory appointment policy into open house day procedures to cut back on the number of attendees appearing at the same time.
  • Restrict access after each showing to allow time for disinfecting areas of the home previous attendees viewed.
  • Consider providing gloves and booties to all attendees of an open house and requiring face masks for all persons inside the home, even if social distance is maintained.

Even if legally permissible, brokerages should carefully consider whether open houses are the safest option for their clients, their brokers and consumers. Each attendee brings a different set of contacts into the property.

 

Brokerage policies should consider incorporating the use of technologies (like virtual open houses) to reduce physical presence for the early stages of marketing properties. Use appointments in a consistent and non-discriminatory manner to physically view the property and incorporate the best practices from above, while keeping the number of contacts smaller.

 

Showings of Tenant-Occupied Properties

Prior to May 29, 2020, showings of tenant-occupied properties were prohibited per the DCEO’s guidance interpreting the last gubernatorial disaster order.

 

Q. Are tenant-occupied showings allowed beginning on May 29, 2020?

A. As of May 29, 2020, the legal answer is yes, depending on the terms of the particular lease and/or any local, state or federal requirement to give a certain amount of notice to the tenant(s) prior to showing the rental unit. Any showing, after giving the tenant the appropriate notice, must be done in a manner where all the safety measures are observed, that is, physical distancing, face coverings or any other required PPE, small groups, hand washing and sanitization/cleaning of surfaces.

 

Best Practice:

  • Before entering a tenant-occupied unit, obtain the tenant’s express consent before showing a tenant-occupied unit.

April 17, 2020 - IL REALTORS® VIDEO:  COVID-19 Financial Relief Programs: Explained 

Illinois REALTORS® brings you this special program to help you navigate and answer questions regarding several financial programs made available or soon to be available due to the pandemic.
The program is broken into two categories: Unemployment programs and Loan Programs.
Video guide: (skip to the portion you want to hear about)

IL REALTORS®- Living Documents...check back often

IDES PUA PORTAL IS OPEN!
The day has finally come! The Pandemic Unemployment Assistance Portal is finally open in Illinois! It can be a bit tricky, so we thought you could use these step-by-step instructions to help you through the process.

MRED UPDATES

CDC - Center for Disease Control

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