COVID-19 Resources

Last Updated 5/6/2020 1:00 PM

Videos

Slideshows

NAR Resources

Addendums and Forms (including Consumer Resource Sheet)

Dialogues & Scripts 

Unemployment Resources

Mortgage Protection

Funding Programs 

Videos:

Key Realty Update Videos 

Recordings of our weekly, Wednesday Key Realty Updates on various topics. 

Screen Shot 2020-04-08 at 1.35.23 PM

 

 

Slideshows:

Key Realty Update Slideshows Library

Stimulus Presentation

 

 

NAR Resources

Your Guide to PUA Benefits

NAR Coronavirus resource center

NAR Free Telemedicine

NAR- Right Tools, Right Now

4/24/20 - NAR Announcement for COVID Relief

The Fair Housing Center’s statement on the COVID-19

 

Addendums & Forms: 

COVID-19 Consumer Resources - (FOR AGENTS TO SHARE WITH CLIENTS) 

Sellers Permission to Photograph, Videotape, Show Virtually and Share

Coronavirus Addendum/Amendment (for Purchase Agreements)

**NEW** COVID Addendum to Listing Agreement (Permission to allow showings)

**NEW ** COVID Showing Addendum/Release (Buyers)

US Chamber of Commerce - COVID-19 Small Business Checklist and Forms

Paycheck Protection program (PPP) Document Checklist

Paycheck Protection program (PPP) Application (PDF)

Supporting Documents Folder

Agent COVID Guidelines (Buyer & Seller Side)

**NEW** Michigan Showing Guidelines with F&Q

**NEW**  Showing Posters for Listings (Requesting shoe covers, masks, and gloves) Version 1 Version 2

 

 

Dialogues & Scripts

Buyer will not wear protective clothing/mask:
I understand that you don’t want to wear a mask or protective clothing, however, at the request of both clients, Key Realty and the State, I am asking you to reconsider.  If you cannot comply with these guidelines, I cannot show you this home.  


Buyer does not want to provide a pre-approval
A pre-approval shows the seller that if you love the house and want to purchase it, you can.  If you were a seller, think how frustrated you would be if a buyer comes to your home, loves it, but can’t buy it.  Especially during the COVID Crisis.  We simply cannot put a seller through that.  With your permission, I will give your number to (lender)  at (lending institution) and he/she will call you to get you pre-approved.  It doesn’t take long.  Once you have that pre-approval in hand, I will get the showing set up.

 

 

Unemployment Resources: 

Mailing Address for Key Realty Corporate:

6546 Weatherfield Ct, Building #C3
Maumee, OH 43537
419-777-5391

MICHIGAN UNEMPLOYMENT

OHIO UNEMPLOYMENT

Unemployment FAQ's

  • Independent contractors qualify
  • Up to 39 Weeks
  • State + $600
    • $600 from Feds is for 13 weeks
    • April 10th - unemployment application for independent contractors
    • Awaiting portal from States- It is not set up yet

 

Mortgage Protection

Mortgage Forbearance

  1. Any Federally-backed loan qualifies (FHA, VA, Ginnie Mae, Fannie Mae)
  2. Save your house and your neighbors
  3. Federal-back loans - 6 months forbearance
    1. Plus 6 months forbearance
  4. Added to escrow - payable over 5 years
  5. Many banks have individual programs
  6. The volume of forbearance requests is straining the system
  7. No negative credit impact from agreed-on forbearance

Non-Government-backed loans

  1. Talk to your local lenders

 

Funding Programs

Paycheck Protection Program (PPP)

NAR Overview

PPP application (PDF)

Treasury Dept. PPP Info Sheet

PPP Loan Forgiveness Process

Average monthly cost
  1. Salaries, Rent, Utilities - 2.5 Months
  2. Individual salary - $100,000 limit
  3. Must maintain 75% of payroll and same employee - 100% forgiven
    1. Below 75% - still eligible for partial payment
  1. Apply through SBA lenders approved lenders
  2. PPP or Unemployment
    1. Realtor A made $40,000 in 2019
      1. Unemployment State amount ($200) plus Fed amount for 13 weeks ($600/week), a total of $800 per week for 13 weeks- $10,400 from unemployment.  State unemployment (minus the $600) can continue for up to 39 weeks.  So, 26 additional weeks of $200 per week.  The maximum benefit is $15,600 if someone is on unemployment for 39 weeks (unlikely).  This is taxable income.  As soon as you get a commission check, you are again employed and not eligible for unemployment.
      2. PPP- 2.5x's monthly salary- $40,000/12 = $3333- monthly salary than multiply by 2.5- $8,333 via PPP and forgivable if used for payroll(paying yourself).  This is tax-free, essentially a grant.
    2. Realtor Aa made $100,000 in 2019
      1. Unemployment State amount ($200) plus Fed amount for 13 weeks ($600/week), a total of $800 per week for 13 weeks- $10,400 from unemployment.  State unemployment (minus the $600) can continue for up to 39 weeks.  So, 26 additional weeks of $200 per week.  The maximum benefit is $15,600 if someone is on unemployment for 39 weeks (unlikely). This is taxable income.  As soon as you get a commission check, you are again employed and not eligible for unemployment.
      2. PPP- 2.5x's monthly salary- $100,000/12 = $8333- monthly salary than multiply by 2.5- $20,8333 via PPP and forgivable if used for payroll(paying yourself).  This is tax-free, essentially a grant.

EIDL Application

  1. Advance Grant - $10,000 - 5-7 business days
    1. Same rules apply for uses
    2. Also forgivable
    3. Can apply for both
    4. 10,000 is deducted from the other program
    5. Multiple companies can apply
    6. Must be "injured"
  1. EDIL Application