Governor Announces 4-Phase Approach – What Does This Mean for REALTORS®?

On Friday, May 1st Governor Inslee announced an extension of the “Stay Home, Stay Healthy” order to May 31st and laid out a phased approach to re-opening the State economy. Phase 1 begins Tuesday, May 5th. Please note that this does not affect the modifications that were made to the original Stay Home, Stay Healthy order that allow certain real estate activities to take place.

On Monday, May 4th, the Governor’s Office published a “Safe Start Washington” plan that provides additional details on the phased approach to reopening Washington. This newly released document provides some good information on what is required of businesses to safely reopen and can be viewed below.

Phase 2 businesses will include all other real estate activity including commercial real estate, the re-opening of real estate offices, and services such as sign installation. Phase 2 also allows gatherings outside your residence for up to five people, which presumably would apply to parts of the real estate transaction such as showings, appraisals notarizations, etc. The Governor’s phased-in plan will apply in counties that have been harder hit by COVID-19. The 10 counties that have not been as impacted by the virus will be allowed to apply for waivers that will let them open up faster (see KING5 story for summary).

Although it is not yet clear when Phase 2 will begin, Washington REALTORS® will be in constant dialog to make our case for the earliest possible start date that is consistent with maintaining public health as the number one priority. Washington REALTORS® will also continue urging the Governor’s office to approve additional, and safe, modifications to allow brokers to more fully meet the needs of their clients.

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PUA Webinar, Presentation & FAQ Now Available

The Washington Employment Security Department (ESD) hosted a webinar for REALTORS® on April 23rd. The webinar recording and slides, plus an FAQ document put together after the webinar, are now available.

The ESD – REALTORS® webinar covered the online application process, how and when to file for PUA, eligibility issues, and documentation needs. Pandemic Unemployment Assistance is a federal program that allows self-employed people, independent contractors, part-time workers, and many people affected by COVID-19 to apply for unemployment, even though they normally aren’t eligible. The law requires everyone to apply for regular unemployment first, and be denied, before applying for PUA.

Please review the FAQs that Washington REALTORS® and the ESD have put together before applying. There are a few critical steps on the application and if you make a mistake that can’t be corrected in your SAW account, you will have to call the ESD helpline. Due to extremely high call volumes, it is very difficult to get through at this time. Please review the materials thoroughly, gather your documentation, and then apply.

 

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Payment Protection Program (PPP) vs. SBA Economic Injury Disaster Loan (EIDL)

NAR has also created a helpful video to walk you through funding options available through the CARES Act. Hear directly from quick-acting REALTORS®, with businesses of varying structure and size, who successfully obtained Paycheck Protection Program (PPP) Business Loans or Economic Injury Disaster Loans (EIDL). Learn how to navigate the Small Business Administration website, which forms to have on-hand when applying, and tips for finding a lender in your area. Don’t wait—funding is limited.

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