Resources for you during COVID-19

Good Afternoon,

We know that these uncertain times are trying for you, your business, and your family. With guidelines and recommendations changing daily, and sometimes multiple times per day, navigating working remotely and dealing with business closures, we understand that it is not business as usual.

However, the National Association of REALTORS®, Mississippi REALTORS®, and your leadership and staff of the Gulf Coast Association of REALTORS® are working hard daily to stay informed on how this is affecting the real estate industry and advocating for our members and their businesses.

In the past few days, the Mississippi REALTORS® and GCAR have sent letters to Governor Tate Reeves, Local Mayors, City Councilmen, and Alderman asking that all Real Estate activities be considered essential to ensure our ability to aid basic housing needs for our clients and customers.

Also, in light of the State of Emergency, MAR President Keith Henley, sent a letter to the 5 Real Estate Commissioners, Administrators, and Governor asking for license renewal and CE deadlines be extended. He also requested all new license and transfer of licenses to different brokerages be sent to the individual by electronic transfer from the Mississippi Real Estate Commission.

These measures are in the best interest of our members, our community, our economy and most importantly to those clients who have enlisted us to facilitate and help them navigate this all important task on their behalf.
Should I Hold an Open House?

NAR has released guidelines for members on holding open houses during the pandenmic.

Remember, do not put yourself at unnecessary risk. GCAR and NAR strongly encourage members to consider the advisability of continuing to hold open houses at this time, especially in light of the guidance and actions of federal, state and local authorities, including “ The President’s Coronavirus Guidelines for America ” recommending that gatherings of ten or more persons be avoided.
Requesting an SBA Economic Injury Disaster Loan

Governor Tate Reeves requested a disaster declaration by the U.S. Small Business Administration on Tuesday, March 17, 2020.
 
This request will provide low-interest, Economic Injury Disaster Loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
 
You must provide the request to your county emergency management agency. You can find your county EMA contact information at this link https://www.msema.org/county-ema/ . Your county emergency management agency should then submit to the MEMA State Coordinating Officer, Todd DeMuth, at  tdemuth@mema.ms.gov . The Mississippi Emergency Management Agency will then hand over to the Small Business Administration.
 
“Our county emergency management directors are working tirelessly with our small businesses across the state to ensure they suffer as little as possible during this pandemic. We urge small businesses to work quickly and efficiently to turn in their paperwork to our agency,” says MEMA Director Greg Michel.
 
The links below will take you to the required worksheet and instructions.
We also understand that you and your family may be experiencing some hardships surrounding COVID-19. With job closures, loss of child care, and fewer transactions for yourself, it can put a strain on your family. Here are some ideas or resources that may benefit you during this time:

Contact Your Financial Institution
Many banks and lenders are now offering relief loans with deferred payments, payment deferrals and interest-only payments on current loans, and mortgage assistance for those affect by COVID-19.

Review Federal and State Tax Extensions
The US Treasury has extended federal income taxes on as much as $1 Million for up to 90 days past the April 15 deadline.

Check With Your Utility Companies
Both Mississippi Power and Singing River Electric have deferred service disconnections. Check their websites and the websites for other utility providers for the full details.

File for Unemployment
If your spouse has a job that was halted because of COVID-19, they are likely to be eligible for unemployment benefits. Check with the Mississippi Department of Employment Security to see what options are available to you.

If you have other questions or concerns about your own business practices, please refer to the resources below:

For more information on NAR's guidelines for Coronavirus : click here

For more information from MAR regarding Coronavirus: click here

For the CDC's guidelines regarding Coronavirus: click here

For a reliable source on information and cases of COVID-19 in Mississippi, visit the Mississippi Department of Health: click here

Stay safe and remember to wash your hands frequently and sanitize frequently used surfaces, such as your phone and door knobs, often.