Realtors and COVID-19: Successes and Advocacies

In COVID-19 society, countless institutions, organizations, and families across the nation have suffered major blows due to concerns for safety and society’s forced transformation to safely coexist with Corona virus for the time being. Among those organizations that are making active efforts to combat some of the effects of COVID-19 is the National Association of Realtors (NAR).

Due to the transformative role and meaning of the home amid the pandemic (such as being the restaurant, workplace, daycare, hub for hanging out and spending time, etc.), the real estate industry has since thus made up a large portion of the economy. Despite this, the COVID-19 pandemic has posed many unprecedented issues for realtors and their clients, sparking advocacy efforts by members in the real estate industry. NAR’s federal advocacy team has been working feverishly with Congress to guarantee that the interests of realtors and their clients are protected federally.

Among the successes and advocacies of the real estate industry include:

• Independent workers being included in the stimulus package for the first time in history
• Advocacy efforts at the state level such as:
  • Unemployment being considered in the stimulus package
  • The $1,200 stimulus check
• The Families First Coronavirus Response Act, which requires certain employers to provide employees with expanded family and medical leave and paid sick leave for reasons directly related to COVID-19

As for consumers in the real estate industry, the NAR has an ongoing list of advocacy efforts at the federal level. Such efforts include, but are not limited to, the following:

• On June 18, NAR sent a letter to the U.S. House of Representatives advocating the “Promoting Access to Credit for Homebuyers Act of 2020”, which supports homebuyers’ ability to enter forbearance and guarantee there is a market for underwritten loans given during the pandemic.
• On June 17, NAR wrote a letter to the Director of the Federal Housing Finance Agency to express gratitude for actions taken in support of distressed homeowners including:
  • Translations of amended Mortgage Assistance Applications
  • Expansion of forbearance programs
  • Extension of moratoriums on evictions and foreclosures
• On July 1, NAR wrote a letter to the Leaders of the House Transportation, Housing and Urban Development, and Related Agencies Subcommittee calling for increased funding for housing counseling services and fair housing activities. This letter was sent to avoid the negative economic effects of COVID-19 from impacting housing situations

In such unsure and changing times, NAR’s advocacy efforts are seeking to assist and support homeowners as well as realtors. For more information on NAR’s advocacy efforts toward COVID-19 relief, click here.