According to the National Association of Realtors Chief Economist and Senior Vice President Lawrence Yun, “the coronavirus is leading to fewer homebuyers

New Jersey Realtors ® & COVID-19

THE CURRENT SITUATION

The COVID-19 pandemic has forced schools, businesses, and government offices to close in New Jersey. As Realtors ® , your business is being impacted in a number of ways, but we’re doing all that we can to help mitigate the economic effects during this unprecedented event.

RESOURCES FOR YOU

Realtor ® Information • COVID-19: A Guide for Realtors ®

New Jersey Information • New Jersey Department of Health • New Jersey Business and Industry

Association • Attorney General Guidance (pertaining to housing discrimination)

Virus Information • World Health Organization • Centers for Disease Control and

Prevention

Additional Resources • Avoiding Scams • FEMA • Freddie Mac Disaster Assistance

Follow Us for Up-To-Date Information

UPDATES Association & Industry Updates

• NEW COVID-19 Buyer and Seller

Release Form • NEW COVID-19 Addendum for seasonal leases • NEW COVID-19 Addendum for sales contract • An update from President Angela

Sicoli and our request to support independent contractors on the federal level. • All in-person meetings at New Jersey

Realtors ® have been suspended through end of March. • All necessary committee meetings are being held remotely. • Staff is working remotely out of an abundance of caution. They are fully capable of handling all member needs while remote. • Resources from our General

Counsel’s firm: Greenbaum, Rowe, Smith & Davis

State Government • NJREC will allow for online prelicensure classes • New fire code inspection guidelines released • Guidelines for appraisals • On March 30, the Governor announced an update to Executive Order 107 allow real estate agents to show houses on a 1-on-1 basis, with a prohibition on open houses. Additional guidance to follow. Gov. Murphy issued Executive Order 107 on Saturday, March 21, effectively shuttering all non-essential businesses and asking New Jerseyans to stay home. • We have recommended the following courses of action to reduce the delay and or halting of real estate transactions. • Fire Inspections: to waive, suspend, or modify CSACMAPFEC inspections and procedures for obtaining a Certificate of Smoke Alarm, Carbon Monoxide Alarm and Portable Fire Extinguisher Compliance (CSACMAPFEC) required under N.J.A.C 5:70-2.3(a). • Certificates of Occupancy: we are working to suspend or modify the requirements for Certificates of Occupancy, including the suggestion that these inspections be done “virtually” • Deed recordings and title searches: we are aware that many counties have online databases, however, we are working to determine what can be done in counties that do not yet have these capabilities. • Per Gov. Murphy’s office, there is a moratorium on evictions during the ongoing pandemic. • New Jersey EDA announces grant and loan programs • New Jersey Housing Mortgage and

Finance Agency

Federal Government • Small Business Loan Guidance • Chamber of Commerce Small Business

Guide Checklist • HUD suspends face-to-face requirement amid virus • HUD, Fannie Mae, and Freddie Mac will suspend evictions and foreclosures during the pandemic • FHFA eases standards