Articles In This Issue Page 1: Pat Farrell Page 3: SABOR Column Page 7: The Way I See It Featuring Cathey Meyers Page 16: Associate Spotlight Featuring TAP•FCU Page 19: NARPM Column #WeWillGetThruThisTogether Page 21: Associate Spotlight Featuring Barton Carpets Page 26: Guest Column Featuring Pat Farrell Page 27: Newsflash
Vol.VI, No.5
www.realestatenewsline.com
May 2020
This Too Shall Pass, But Will Our “Normal” Be The Same Afterwords? By: Pat Farrell There is little doubt that our current business environment, along with having to do without so many of our personal contacts, is a situation that none of us had anticipated or have had to experience before and I expect none would care to experience again. There has, however, been much to learn from our situation today, but we have also been left with questions. How many of us have been able to successfully weather this storm, and have we been able to stay afloat businesswise during this global event that is unprecedented in our lifetime? In speaking with some of those who have been recognized as tops in their fields of practice, be it REALTORS®, lenders or closers, it pretty much depends on how one is able to adapt to the issues at hand and what will be next once the stay at home
orders have been lifted. REALTORS® and lenders are still able to work but in some cases title closers have been furloughed and some closings are being handled in parking lots in an attempt to protect all those involved in the process. Regal Realty, Broker-Owner and residential REALTOR® Judy Goldick said that due to this viral climate some owners have been hesitant to list their properties, knowing it would mean that strangers would be coming into their “shelter;” however, the housing business has actually been continuing as there are many that still must relocate, and need a house now. When she and her staff call a listing agent to arrange a showing they ask that the owners turn on lights and open all interior doors so that her agents have only to touch (with gloves on) the lock box, front and possibly rear doors. The agents and clients come to the house in their respective cars and the clients have been instructed to touch nothing while in the house, but just in case, the agents are equipped with hand wipes, sanitizers, etc. Being tech savvy has worked well for Judy who makes use of all platforms such as social media, video, phone contact and ZOOM meetings to stay in touch with clients and agents. For those who are not up to date on the technology scene, now would be a perfect time to learn how to use what is available. She cautions that that just because we are “sheltering in place” it is not a good idea to stop working while at home, because those who
have stopped will have no place from which to start when this is over. Judy is ready for whatever the new normal will be! According to Adona Lowery, Owner-Broker at Landlord Property Management the bulk of their office activities are now being handled digitally including the application process, rent payments and disbursements and a recently added process whereby tenants can view a 3D rendering of properties which will allow them to determine if that rental will accommodate their furniture. They have been fortunate so far in that the majority of tenants have been able to cover their April rent payments, but the concern may come during month of May especially if the stimulus checks have not yet been received. There is currently a state ordered moratorium in place for issuing late fee notices and orders to vacate properties for any reason other than criminal activity. Another concern that is currently being considered among other members of the local chapter of NARPM is what will happen if a tenant is affected with the virus, especially if they do not recover. Adona commented that since so much of her business is now handled online she may have to reassess the need to maintain such a large office. Valerie Wilshire, of Independence Title Company, said that as a Texas company they have been fortunate during this crisis in being able to continue doing business without having to furlough any of their
staff. They have received outstanding support from their owners and as a result have been able to implement quickly to keep up as circumstances change. They do remote online and mobile notary closings and are serious about social distancing with closings scheduled by appointment and include only closer and signatories. Independence Title has proved itself to be adaptable and ahead of the game when it comes to the new norm, so it is business as usual, in a new way (temporarily). They remain strong and continue to grow as there are plans to add a new office sometime in the near future. Valerie noted that this pandemic has made us aware that there are ways, other than what we have been used to, that will allow us to still successfully accomplish the same thing. No doubt, the digital age has been here for quite a while but not all were willing to rely so heavily upon it until now. Can you envision us forever being reduced to elbow bumps to greet one another when so many of us are huggers? Everything in the real estate business is not just processing applications, preparing documents and handling disbursements – real estate is more of a personal, one on one process that most of us who start clients off on their way to finding a home would prefer to end that process with a hug rather than a “bump.” It is hard to say exactly when the “powers that be” will determine it is safe to resume life as it once was, but the question is - can we be certain that what once was, will be what now is!