Colorado Association of REALTORS | Colorado REALTOR Covid-19 Information Portal
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Colorado REALTOR Covid-19 Information Portal

Covid-19 updates, news and resources for Colorado REALTORS®

There are no words to describe the devastation that is already occurring within our communities, to the business environments we operate within, and the real estate industry. Your CAR leadership knows that the last few weeks have created a tumultuous environment that REALTORS® are now operating within while trying to do their best to broker transactions for their clients. The situation is changing on a daily basis and CAR will do everything we can to keep our members updated and informed.

CAR will continue to emphasize our member experience philosophy by providing additional opportunities that will help Colorado REALTORS® navigate the business environment created by the coronavirus and its unprecedented impact on all of our lives.

NAR's Transaction Guidance During Covid-19NAR Coronavirus Advocacy FAQ'sNAR's Shelter-in-Place Guidance

Fair Housing considerations during COVID-19 Pandemic – April 6

The spread of COVID-19 has serious potential to adversely impact the fair housing and civil rights of individuals, particularly on the bases of race, national origin, and/or disability. For example, housing providers may refuse to negotiate with persons that the housing provider perceives, on the basis of race or national origin, to be associated with an area where a COVID-19 outbreak is prevalent.

Read the Bulletin from DORA

CARES Act for Colorado REALTORS – April 3

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides relief to families, small businesses, and individuals who are self-employed and independent contractors, including REALTORS® and brokerages. Learn the difference between the Paycheck Protection Program, SBA Economic Injury Disaster Loans (EIDL) and EIDL Grants, and Pandemic Unemployment Assistance and how to apply.

CARES Act for Colorado REALTORS

State Announces Financial Support Resources for Colorado Businesses – April 2

Last week, the U.S. Congress passed a $2 trillion economic stimulus package called the CARES Act.  It includes resources to help Colorado’s small businesses experiencing economic harm. A key portion of this Act is the Paycheck Protection Program, which allocates $349 billion in forgivable loans to help small businesses, independent contractors, and nonprofits meet payroll and rent needs. Businesses can begin applying for the loans on Friday, which will be given on a first-come, first-served basis.  We strongly encourage you to review this federal program to see how this important economic resource can help your business.

Learn More

NAR Offers Members TeleHealth to REALTORS® at No Cost in Response to COVID-19 Crisis – April 2

The National Association of Realtors® announced Wednesday that it will be
expanding access to Members TeleHealth at no cost to its members for those who register before April 15. The program comes as part of NAR’s larger ‘Right Tools, Right Now’ initiative – relaunched on March 27 – which is making numerous valuable resources available to the association’s 1.4 million members at reduced or no cost.

Learn More

Impacts of Covid-19 on the Real Estate Market in Colorado – April 1

CAR Spokesperson Kelly Moye speaks with 9News (KUSA) about the impact Covid-19 has had on the Colorado real estate market and transactions.

Watch the full story

Colorado Secretary of State’s Office to Implement Remote Notarization – March 28

Secretary Griswold issued emergency rules on Monday, March 30, setting forth the procedures and requirements for remote notarization in Colorado during this state of emergency.  These rules address implementation of the remote notarization process while including protections against identity theft and fraud.

Read More

Real Estate Deemed Essential in Colorado – March 26

Today, Governor Polis and the Department of Public Health and Environment has released an updated public health order in accordance with yesterday’s executive order implementing a statewide stay-at-home order, in effect from March 26 through April 11, 2020.

 

The public health order was updated to include a number of critical services that includes Professional Services, such as legal, title companies, or accounting services, real estate appraisals and transactions.   

Read CAR's Full Statement
Questions Regarding Home Inspectors and Travel Identification for Brokers
Read the Updated Public Health Order

Transaction Guidance During COVID-19 – March 25

In deciding how to address new issues that may come up in your day-to-day business, we urge you to find answers that will ensure first-class services to your clients, while also demonstrating care for the health and well-being of clients, agents, and the greater public welfare in reducing the risk of exposure to and spread of COVID-19.

NAR's Covid-19 Transaction Guidance

NAR’s Shelter-in-Place Guidance – March 25

This document produced by NAR explains shelter-in-place orders, how they might impact real estate business, and includes a checklist for brokers.

NAR's Shelter-in-Place Guidance

Announcement from The Appraisal Foundation – March 25

The Appraisal Standards Board, Fannie Mae, Freddie Mac, and the Federal Insurance Deposit Corporation recently issued new guidance. In an effort to keep appraisers fully informed of the latest developments, The Appraisal Foundation is sending the new guidance directly to you. The Foundation is compiling all coronavirus-related information on Coronavirus and Appraisers: Your Questions Answered, dedicated page at appraisalfoundation.org

Announcement from the Appraisal Foundation

Homeowner Association Guidance from DORA – March 24

The Colorado HOA Information and Resource Center is recommending that association boards assess good governance policies that continue to advance your organization and members by considering a moratorium for collection activities, late fees, liens, and foreclosures during this unprecedented time. This not only follows the spirit of Governor Jared Polis’s March 20th Executive Order D 2020 012, Limiting Evictions, Foreclosures, and Public Utility Disconnections, but will allow for our neighbors to take care of their basic health and food necessities until this national emergency is under control, our small businesses can reopen, and our neighbors can return to work.

Homeowner Association Guidance from DORA

Freddie Mac Bulletin 2020-5, Selling Guidance Related to COVID-19 – March 23

On March 23, 2020, Freddie Mac issued Bulletin 2020-5, Selling Guidance Related to COVID-19, which contains temporary guidance on appraisal requirements. Under the guidance, lenders will be allowed to use desktop appraisal and exterior only appraisals for purchase transactions through May 17, 2020. Freddie Mac has also provided language that the appraiser must copy and paste into their report in order to accommodate the revised scope of work, statement of assumptions and limiting conditions, and certifications for some of the scenarios presented.

https://guide.freddiemac.com/app/guide/bulletin/2020-5

See Bulletin 2020-5

Executive Orders Impacting Real Estate Business

EXECUTIVE ORDER – Ordering Colorado Employers to Reduce In-Person Workforce by Fifty Percent Due to the Presence of COVID19 in the State – March 22

 

On Sunday, Governor Jared Polis ordered employers at non-critical workplaces to decrease in-person workforces by at least 50%. The executive order directs all employers to implement tele-work options to the greatest extent possible. If telecommuting is not an option,  businesses are encouraged to work in shifts and stagger employee schedules to reduce the number of workers who come in contact with each other.

Read Executive Order D2020-13

EXECUTIVE ORDER Limiting Evictions, Foreclosures, and Public Utility Disconnections and Expediting Unemployment Insurance Claim Processing to Provide Relief to Coloradans Affected by COVID-19 – March 20

 

On Sunday, Governor Jared Polis announced that the state will be taking action to provide relief from evictions, foreclosures, and utility shut-offs. The Governor is directing the Department of Regulatory Agencies (DORA) to work with state-chartered financial institutions to address the threat of residential and commercial foreclosures and displacement. The Governor is requesting that municipal and county governments refrain from using law enforcement to carry out evictions or foreclosures unless there is a threat to public safety. He is also encouraging banks, credit unions, and other financial institutions holding residential or commercial mortgages to follow the lead of the Federal Housing Finance Agency and halt foreclosures and related evictions that are due to income reductions because of the COVID-19 pandemic. In addition, the Governor is requesting these financial institutions consider providing a 90 day deferment of payment for all consumer loans, including residential and commercial mortgages, refinances, auto loans, and student loans, and small business loans. The state is also requesting that all public utilities suspend service disconnections for delayed or missed payments from residential and small business consumers.

Read Executive Order D2020-12

Shelter-in-Place and Stay-at-Home Orders (updated March 26, 2020)

The state of Colorado has issued a “Stay-at-Home” Order effective Thursday, March 26, 2020 until April 11, 2020, unless extended.

 

Jefferson County has issued a “Stay-at-Home” Order effective Thursday, March 26, 2020 until April 17, 2020, unless extended.

 

The Tri-County Health Department (Serving Douglas, Arapahoe, and Adams Counties) has issued a Stay-at-Home” Order, effective Thursday, March 26, 2020 until April 17, 2020, unless extended.

 

The City of Denver has issued a “Stay-at-Home” Order effective Tuesday, March 24, 2020, until April 10, 2020, unless extended.

 

The City of Boulder has issued a “Stay-at-Home” Order effective March 24, 2020, until April 10, 2020, unless extended.

 

Pitkin County Public Health has issued aStay-at-Home” Order that includes all cities and towns within the county, effective March 23, 2020, until April 17, 2020, unless extended.

Legal and Risk Management Resources

Legal Bites – Covid-19 Updates as of April 3, 2020

CAR General Counsel Scott Peterson discusses aspects of the Shelter in Place order with regards to real estate in Colorado.

Covid-19 Updates as of April 1, 2020

CAR General Counsel Scott Peterson discusses several updates surrounding real estate issues right now including Remote Notary, Appraisals, Showing Waivers, Unemployment filing, and License Renewals in Colorado.

State vs. Local Executive Orders – Who Wins? – April 1, 2020

CAR General Counsel Scott Peterson clears up confusion of the various state and local “shelter in place” orders.

Special Edition Legal Bites – Scott Discusses Most Commonly-Asked Questions After “Stay-at-Home” Order  – March 27

CAR General Counsel Scott Peterson discusses most commonly-asked questions about the proper use of the Covid-19 Addendum, local vs. state orders, what’s part of a real estate transaction, the necessity of showings, are outside services covered by the State Order, and documentation for “critical” businesses.

Special Edition Legal Bites – Scott Discusses Colorado’s Updated “Stay-at-Home” Order to Include Real Estate – March 26

CAR General Counsel Scott Peterson talks about an updated public health order in accordance with the March 25 executive order implementing a statewide stay-at-home order, in effect from March 26 through April 11, 2020. The public health order was updated on March 26 to include a number of critical services that includes Professional Services, such as legal, title companies, or accounting services, real estate appraisals and transactions.

Watch the Recorded Colorado Real Estate and COVID19 Contract and Risk Management Issues Webcast – March 25

Watch the recorded version of the Colorado Real Estate and COVID19 Contract and Risk Management Issues webinar from March 25, 2020 with Scott Peterson.

Coronavirus Plea From Real Estate Attorney Damian Cox

This memo is a plea to the real estate broker community to heed the warnings of health officials. Stay home and practice social distancing in every way you can.

Read Coronavirus Plea from Real Estate Attorney Damian Cox
New Covid-19 Real Estate Addendum for Colorado Real Estate Contract to Buy and Sell

CAR has worked with the Colorado Bar Association in the creation of an approved addendum to the Commission-approved Contract to Buy and Sell Real Estate to address the practical implications of Covid-19. The addendum addresses real estate transactions that are impacted and/or delayed by shutdowns of title offices, government agencies, lenders and/or appraisers; and real estate transactions that are impacted and/or delayed by mandatory or voluntary quarantines.

Access and download the COVID-19 Addendum
Read DORA's Bulletin About the Covid-19 Addendum
Watch the latest Legal Bites episode about the New Covid-19 Contract Addendum
Watch the Legal Bites episode about real estate transaction issues caused by Covid19
Currently we are exploring additional member opportunities such as:

Expanded Legal Hotline Availability: In response to the overwhelming call demand for the CAR Legal Hotline, beginning Monday, March 23, the Legal Hotline will be available for extended hours (8 am – 4 pm) through Friday, April 3, 2020.  This additional 2 hours/day of Hotline availability will provide Colorado REALTORS® with expanded access to qualified real estate attorneys as they navigate the unique challenges currently impacting real estate transactions.

Access the CAR Legal Hotline

Continued Legal Bites on Coronavirus-related issues: During this volatile time, CAR will continue to actively produce CAR Legal Bites with a focus on the emerging and fluid issues related to COVID-19 and its impact on Colorado real estate transactions.

Access the CAR Legal Bites Playlist on Youtube

Advocacy and Legislation Surrounding Covid-19

CAR joins stakeholder group asking Governor Polis to guarantee emergency mortgage assistance for households making up to 80% of the area median income (AMI) – March 30

The current Executive Order defines low-income households as under 50% of the AMI. HUD’s definition of low-income household is 80% AMI. We are asking that the current Executive Order be amended to align with the HUD definition and ensure Colorado’s vital workforce that are experiencing loss of income due to COVID-19 can maintain their homes.

See Stakeholder Letter to Governor Polis
Colorado Secretary of State’s Office to Implement Remote Notarization – March 28

Secretary Griswold issued emergency rules on Monday, March 30, setting forth the procedures and requirements for remote notarization in Colorado during this state of emergency.  These rules address implementation of the remote notarization process while including protections against identity theft and fraud. CAR has advocated for remote notarization since the beginning of pandemic in Colorado.

Read More
Governor Polis Issues Revision to Statewide Order to Include Real Estate as Critical Business – March 26

On Thursday, March 26, Governor Polis and the Department of Public Health and Environment has released an updated public health order in accordance with yesterday’s executive order implementing a statewide stay-at-home order, in effect from March 26 through April 11, 2020.

 

This new update does include Real Estate as an “critical business” under Colorado’s Stay-at-Home Order. This revision is a direct result of CAR’s regular communication with the Governor and his staff, including appeals to the Governor to consider inclusion of real estate as an essential service during this period.

Read CAR's Full Statement
Your CAR Government Affairs and Legal team continues to work on state/federal issues caused by the pandemic

We are working with industry stakeholders on a variety of emergency issues to enable our members to continue their business operations as much as possible.

March 23 – Denver Metro Association of REALTORS works to ensure real estate qualifies as “essential professional services” under Denver’s Shelter-in-Place Order

In a letter to members from DMAR’s Chairman of the Board, Euan Graham, DMAR announced that it received clarification in an addendum to the Mayor’s order issued this afternoon that ‘real estate’ was added by the Mayor’s office under the qualified list of ‘essential professional services’ in a recent update to their original order. Therefore, real estate services are exempt from the stay-at-home directive so long as individuals involved in the real estate transaction comply with physical distancing requirements mandated by the City and County of Denver.

Visit DMAR's Covid19 Update Page

March 22 – CAR Requests the Governor Identify Real Estate Industry as Essential

CAR sent a letter to Governor Polis asking that he acknowledge the importance of the real estate industry in the basic economic health of our economy and to accept a request that any “shelter in place” order include an exception that provides, in substance: “Essential services related to real estate transactions include, but are not limited to, title searches, appraisals, permitting, inspections, construction, moving, and the recordation, legal, financial and other services necessary to complete a transfer of real property.”  Read the full letter here.

Read Letter Sent to Governor Polis

CAR Seeking State Authorization to Process Real Estate Transactions Online

At the forefront is the necessary state and federal authorization to process real estate transactions online. Click here to read the stakeholder letter sent to Colorado’s Secretary of State requesting an Executive Order to allow for the use of remote notarization technology to satisfy the “personal appearance” requirement to remotely complete real estate notarizations.

Read Letter Sent Colorado's Secretary of State

CAR Requests That the Federal Government Create Financial Mitigation Plans to Help Property Owners

We are also proactively fighting for protection of property owners in light of the movement to temporarily suspend evictions considering the hardship that will create for mortgage payments or cause potential future foreclosures. Click here to read the stakeholder letter sent to Leaders in the House of Representatives and U.S. Senate requesting the development of Emergency Rental Assistance Funds and Financial Mitigation plans to allow property owners to satisfy their own financial obligations during this crisis. This letter was also forwarded to Governor Polis. We will provide continued updates on these developments as they are available.

Read Stakeholder Letter Sent to House and Senate
Federal Legislative Updates:

The Families First Coronavirus Response Act (H.R. 6201)

Congress has passed the Families First Coronavirus Response Act (H.R. 6201) providing support to American workers, families, and businesses, including the expansion of paid sick leave and family medical leave.  It also includes refundable tax credits for small businesses and self-employed individuals to cover the cost of the leave.

NAR’s advocacy team continues to urge Congressional leaders to include support for self-employed professionals and other small business owners. This was included in the final bill.

Coronavirus Emergency Legislation and What REALTORS Need to Know
Families First Act Explained

Updated Public Health Order for Colorado to Include Real Estate as Critical Business

Your REALTOR® Voice Has Been Heard.

 

Today, Governor Polis and the Department of Public Health and Environment has released an updated public health order in accordance with yesterday’s executive order implementing a statewide stay-at-home order, in effect from March 26 through April 11, 2020.

 

The public health order was updated to include a number of critical services that includes Professional Services, such as legal, title companies, or accounting services, real estate appraisals and transactions.   

 

This new update does include Real Estate as an “critical business” under Colorado’s Stay-at-Home Order. This revision is a direct result of CAR’s regular communication with the Governor and his staff, including appeals to the Governor to consider inclusion of real estate as an essential service during this period.

 

Despite this revision, we want all Colorado REALTORS® to understand that with great power comes great responsibility. It is CAR’s perspective that this revision does not reflect “business as usual” for real estate in Colorado. The COVID-19 crisis and the drastic changes to our everyday lives that we are all experiencing must be taken extremely seriously and ALL Colorado REALTORS® should take extreme precautions whenever executing any part of their business. State and local mandates are a reflection of the incredibly serious nature of the global health risk and we have a responsibility to protect the public, our clients, and business associates.

 

All services included in the public health order are subject to social distancing requirements and are still encouraged to implement telework options and staggered schedules when possible. Read the updated order here.

 

Our commitment is to continue, as we have for decades, to be a part of the solution for our clients and our communities – limiting exposure, risk and helping to save lives through our actions.

 

Some additional recommendations:

 

  • Implement the new COVID-19 Addendum on all current real estate transactions with more than a day or two prior to closing by checking BOTH boxes. Access the Covid-19 Addendum Here.
  • Contact clients to inform them of what they can expect during this period.
  • Focus on organizing your business and checking in on the health and wellness of your clients.
  • Contact your professional service providers to see what changes they have made due to the Coronavirus.
  • If you are encountering or are anticipating personal hardship go to your county websites and contact your mortgage company to see what tools and resources, they have to assist you at this time.
  • Follow COVID19 stay at home orders and safety guidelines.
  • Help others- volunteer in your community according to the COVID19 guidelines
Questions Regarding Home Inspectors and Travel Identification for Brokers

Financial Resources

SBA Releases Official Details of Paycheck Protection Program – April 3

The U.S. Small Business Administration (SBA) released the official rule for the $349 billion Paycheck Protection Program (PPP), including the formula for calculating loan amounts and what the loan can cover. Small businesses and sole proprietors can begin applying for the federal loans through their lenders today. Independent contractors and self-employers can apply beginning April 10. Under the rule, businesses with 500 or fewer employees and 501(c)3 organizations are eligible to apply as long as they were in operation on Feb. 15, 2020. Sole proprietors and independent contractors are also eligible, but independent contractors need to apply themselves. A company cannot apply on behalf of a contractor.

The maximum loan amount is $10 million at an interest rate of 1% and a two-year term. PPP loans will be provided on a first-come-first served basis, so we recommend contacting your current lender as soon as possible to apply. Lenders will prioritize their current customers’ applications. If you do not have a current lender or your lender is not participating, see the SBA’s tool to find eligible lenders.

SBA's Tool to Find Eligible Lenders
CARES Act for Colorado REALTORS – April 3

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides relief to families, small businesses, and individuals who are self-employed and independent contractors, including REALTORS® and brokerages. Learn the difference between the Paycheck Protection Program, SBA Economic Injury Disaster Loans (EIDL) and EIDL Grants, and Pandemic Unemployment Assistance and how to apply.

CARES Act for Colorado REALTORS
State Announces Financial Support Resources for Colorado Businesses – April 2

Last week, the U.S. Congress passed a $2 trillion economic stimulus package called the CARES Act.  It includes resources to help Colorado’s small businesses experiencing economic harm. A key portion of this Act is the Paycheck Protection Program, which allocates $349 billion in forgivable loans to help small businesses, independent contractors, and nonprofits meet payroll and rent needs. Businesses can begin applying for the loans on Friday, which will be given on a first-come, first-served basis.  We strongly encourage you to review this federal program to see how this important economic resource can help your business.

Learn More
Paycheck Protection Program FAQs for Small Businesses – March 30

More information (including for non-profits) on how to apply for loans from the U.S. Senate Committee on Small Business and Entrepreneurship here:

Paycheck Protection Program FAQs for Small Businesses
Coronavirus Aid, Relief, and Economic Security Act
Provisions for REALTORS® and Their Consumers – March 27

The U.S. Senate passed a $2 trillion COVID-19 economic relief package on March 25, 2020 with overwhelming bipartisan support. The legislation now goes to the U.S. House, where it is expected to quickly pass. President Trump has said he will sign it into law.

 

The measure includes $349 billion for the Small Business Administration 7(a) loan program. Under the terms, businesses can get up to $10 million toward mortgage interest, rents, utilities, and payroll costs. A portion of these loans would be forgivable.

More on Coronavirus Aid, Relief, and Economic Security Act

Meeting With Senator Gardner; Formation of Relief Packages and Draft Stimulus Bill

The U.S. Senate is currently working on a third COVID response bill that would provide assistance to small businesses, individual taxpayers, and severely stressed sectors of the U.S. economy. While the proposal is still in development, lawmakers have indicated that the initial plan would appropriate $300 billion in small business interruption loans. Employers with 500 or less employees could be eligible, and the loans would cover six weeks of payroll for employees. The size of the loan depends on an applicant’s average monthly payroll, rent, utilities, mortgage and other items over the past year. Conditional upon employer retaining employees and payroll during the covered period (Mar 1-June 30, 2020), the portion of the loan to cover payroll and pre-existing debt would be forgiven.

 

Small Business Administration Economic Injury and Disaster Loan Program

Colorado small businesses can begin applying for low-interest federal disaster loans through the Small Business Administration (SBA) Economic Injury Disaster Program. Colorado received its declaration today, making these loans available. Eligible entities can receive loans up to $2 million, and interest rates would be no higher than 3.75%.

 

City of Denver and Mayor Hancock Economic Relief Package For Businesses and Employees

Denver’s primary goal is to help the people most directly impacted by the disruptions caused by COVID-19. These programs are aimed at supporting businesses so they can support their employees.

Colorado small businesses impacted by COVID-19 can seek individual small business loans up to $2M as part of the Small Business Administration’s Economic Injury Disaster Loan program. Small businesses throughout all 64 counties may seek SBA Economic Injury Disaster Loans. Governor Jared Polis announced that Colorado’s application for federal disaster area designation has been approved.

 

To learn more about the application process, please visit the SBA website. If you need support in navigating the application process, please visit the Colorado Small Business Development Center COVID-19 website. We also have a hotline for small business owners to call with questions about how to apply: (303) 860-5881.

Colorado Small Businesses Can Apply for Disaster Loans 

Colorado received its declaration Thursday from the Small Business Administration to allow small businesses affected by the COVID-19 outbreak to apply for low-interest federal disaster loans. Learn more about these loans or apply directly at disasterloan.sba.gov/ela.

Other News 

Connect for Health Colorado has opened an emergency special enrollment period from March 20 to April 3 to help Coloradans who are uninsured or about to lose their insurance. Learn more.

 

The federal and state governments announced today that the deadline to file income taxes would be postponed from April 15 to July 15. Read more in The Denver Post.

From Your CAR Leadership

Dear CAR Members,

 

As the fast-changing COVID–19 situation continues to evolve and impact nearly every facet of our lives, your CAR leadership has been and will continue to be working to understand and make proactive decisions that are grounded and focused on the health, safety, and long-term care of our members and the communities we serve. While we know that many of the decisions we will have to make are going to be difficult, each will be based in transparency and science, while also doing our part to help stop the spread of the virus.

 

We understand that every local association and every community’s public health needs are unique, so we want to make sure we play a constructive role by taking responsible actions, guided by the CDC and other experts, to continue to do what is right for our members and partners.

 

Unfortunately, due to the virus and the implications it has already had for our mountain communities and the hospitality industry, many of you are aware that we were forced to cancel Spring Summit 2020 scheduled for April. We are working hard to assess next steps for some of the business that would have been completed at the Summit and we will share those details and next steps with you as decisions are made.

 

Emergency Covid-19 Contract Addendum

CAR has worked with the Colorado Bar Association in the creation of an approved addendum to the Commission-approved Contract to Buy and Sell Real Estate to address the practical implications of Covid-19. The addendum addresses real estate transactions that are impacted and/or delayed by shutdowns of title offices, government agencies, lenders and/or appraisers; and real estate transactions that are impacted and/or delayed by mandatory or voluntary quarantines.

Click here to access and download the COVID-19 Addendum.

 

Your Government Affairs Team Is Working Harder Now More Than Ever

We are working tirelessly with industry stakeholders on state and federal issues caused by this pandemic. CAR is actively working on a variety of emergency issues to enable our members to continue their business operations as much as possible.

 

CAR Seeking State Authorization to Process Real Estate Transactions Online

At the forefront is the necessary state and federal authorization to process real estate transactions online. the stakeholder letter sent to Colorado’s Secretary of State requesting an Executive Order to allow for the use of remote notarization technology to satisfy the “personal appearance” requirement to remotely complete real estate notarizations.

 

Your Legal and Risk Management Resources Are Also Expanding

In response to the overwhelming call demand for the , the Legal Hotline will be available for extended hours (8 am – 4 pm) beginning Monday, March 23, through Friday, April 3, 2020. This additional 2 hours/day of Hotline availability will provide Colorado REALTORS® with expanded access to qualified real estate attorneys as they navigate the unique challenges currently impacting real estate transactions. CAR General Counsel Scott Peterson will continue to develop Legal Bites with a focus on the emerging and fluid issues related to COVID-19 and its impact on Colorado real estate transactions. The Legal and Risk Management team is also looking at ways CAR can respond to member inquiries in a virtual environment. Stay tuned as we announce additional resources.

 

REALTORS® Are More Important to Their Communities Now More Than Ever

Like each of you, we are focused on how we can take care of one another and the clients and communities in which we live and work. We are proud of the swift decisions we are making, and we will always do what’s best for our members and partners. As the situation continues to evolve, we may make some more changes, but through it all we will lead through the lens of our REALTOR® Mission and Values.

 

Thank you for all that you have done and continue to do in support of our industry, your fellow members, clients, neighbors, and communities. We have heard numerous stories of REALTORS® proactively working to support their communities and neighbors during these uncertain times and we could not be prouder to be a part of the Colorado REALTOR® family. We look forward to sharing our resources and insights and to helping our communities, state and nation rebound as quickly as possible.

 

Sincerely,

A Strategy for Virtual Showings During COVID-19 – March 30

Mabél Guzmán, NAR’s 2020 VP 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.

Open House Concerns

Open House Concerns with COVID-19 Restrictions in Place

The Division of Real Estate has received numerous inquiries from real estate brokers and homeowners concerning the showing of homes and conducting open houses at this time while COVID-19 is spreading. We have seen state-wide Public Health Order 20-23 limiting mass gatherings to no more than ten (10) people, Executive Order D 2020 013 mandating the reduction of in-person work requirements by at least 50 percent for non-essential businesses, and “Stay-at-Home” orders in Denver, Boulder, and other counties further limiting the ability of parties, including notaries, to appear in person for closings.

There are many resources available for you and your clients to consider before showing a home, and prior to having a conversation about conducting an open house at this time.

The Colorado Department of Public Health and Environment (CDPHE) and the State Emergency Operation Center (EOC) have issued public health orders for social distancing and recommendations for businesses.

 

National Association of Realtors® (NAR), has developed a Q&A concerning this issue.

Many other Colorado cities and counties may be considering placing similar restrictions on businesses and residents in the near future.

Real estate professionals and homeowners should follow any emergency rules or orders in effect for the county and city where they are contemplating holding an open house. Real estate brokers have an obligation to exercise reasonable skill and care and should adhere to best practices to protect the general public, their clients, and themselves during this time of uncertainty.

IREMS Pandemic Guide for Property Managers

The Institute of Real Estate Management, including without limitation its officers, directors, employees, advisors, consultants, committee members, task force members, agents, volunteers and members (“IREM”), has assembled the material in this document for the sole and singular purpose of providing potential practices in dealing with a pandemic event as declared by: (i) The U.S. Centers for Disease Control and Prevention or other governmental health authority; (ii) The World Health Organization; or (iii) A real estate management company or property managers pursuant to its own pandemic plan (any of these referred to herein as “Pandemic”), and for no other health concern or other issue whatsoever.

IREMs Pandemic Guide for Property Managers

Video Conferencing Tips

Much of what we are experiencing during the COVID-19 pandemic will be integrated into our lives on a permanent basis. Online video conferencing applications are great tools that enable those who work at home to virtually meet with collaborators and colleagues and will be part of this new normal. We will all be working and attending meetings remotely more often and a few tips and tricks can help the process go more smoothly

Video Conferencing Tips

Important Resources

CO HELP: COVID-19 Hotline

 

For answers in many languages including English, Spanish (Español), Mandarin (普通话), and more:

If you have symptoms and think you have been exposed, call a health care provider.

 

Sources for Public Health Information

To review the facts, please see the Colorado Department of Public Health and Environment’s (CDPHE) Fact Sheet.

 

For public health management:

Be on the Lookout for Coronavirus Scams