COVID-19 and Real Estate Update
by Brett Sawyer
Friends, clients, and colleagues from across the country and around the globe have been reaching out to me asking about the state of real estate in the Boulder/Denver Metro area. We know that different states are under a wide range of guidelines for this industry that is poised to lead our economy back out of this recession.
It’s been a roller-coaster few weeks given the initial “stay at home” order issued by Gov. Polis did not include real estate as an essential business. This put thousands of home buyers, home sellers, and active transactions in jeopardy of failure and financial distress. Fortunately, with the help of the Colorado Association of Realtors (CAR), that order was revised within 24 hours.
NAR, CAR, DMAR, BARA and most all of the Realtor boards were quick to issue guidelines to their members for safe and sanitary practices for showings, and focused on homes that were currently on the market, while also being sensitive to buyers who still needed to buy, and sellers who still needed to sell.
A couple of weeks ago we were gut-punched via an opinion from the Colorado Attorney General’s office limiting real estate services solely to appraisals and Closings. No showings, no inspections, no photographers. Through the combined efforts of the Realtor community; the title insurance industry; the mortgage industry; and the home inspector industry we were able to demonstrate to the governor’s office, as well as the AG’s office, the dire unintended consequences that ruling would have on the personal and financial safety of people who needed (not just merely wanted) to buy or sell a home.
After four days of negotiations we saw some movement, and finally this week we were advised that effective April 27th we can again show homes. It’s important to keep in mind that responsible Realtors are not conducting Open House events; and are showing homes under very strict guidelines requiring masks, gloves, and social distancing. We are united in our goal to keep our buyers, sellers, and necessary ancillary businesses involved in real estate transactions safe!
Broker Associate | REALTOR