With recent escalation of the coronavirus health crisis, GBAR & GBREB have begun compiling information and materials that may be of assistance to REALTORS®. 

Additionally, the Massachusetts Association of REALTORS® COVID-19 website features useful resources and guidance for REALTORS® on business practices, licensing, employment and government assistance, and more in the COVID-19 environment, and NAR has issued general guidance , including this Transactional Guidance FAQ, on the issue which we encourage you to review. Upon review of these documents, should you have additional questions, please don't hesitate to reach out to GBAR Counsel Bill Mullen via our Brokerage Counselling Hotline at 617-399-7842.

Importantly, as of March 31, the Baker Administration has issued new guidance for REALTORS® during the COVID-19 State of Emergency.  Residential and commercial real estate has been deemed an essential business, which means real estate brokerage brick and mortar offices can be open to the public. However, it is strongly recommended that offices remain closed to protect the health and safety of agents and brokers, employees, and the public. Additionally, the following guidance is intended to help clarify which real estate activities may continue virtually or under parameters set forth below.
 
Showings and open houses are permitted, but are subject to Governor Baker’s order limiting gatherings to ten or fewer people. If open houses are held, they must be limited to ten people at a time and social distancing must be enforced. Additionally, the Massachusetts Association of REALTORS® recommends the use of hand sanitizer and thorough and frequent cleanings.  Notably, although allowed, REALTORS® are strongly encouraged NOT to host open houses in order to help prevent the spread of COVID-19.
 
Real estate closings may continue, with social distancing for any in-person transactions.
  Meetings with clients and prospective clients cannot take place at a real estate brokerages’ physical offices, but may take place with social distancing or remotely by phone or video.

MA Registry of Deeds Office Status

Open House & Apartment Showing Policies and Guidelines

Sample Extension Language for Contracts

For agents and brokers seeking guidance to address timing of a closing and extensions that may occur as a result the COVID-19 pandemic, GBAR shares the following useful language which you may consider incorporating into Offer and P&S contracts following consultation with and approval from your attorney.   
 
SAMPLE CONTRACT LANGUAGE: The parties agree and acknowledge that in the event either the Buyer, Buyer’s lender, Seller, any of their respective attorneys, or the Registry of Deeds becomes the subject of a mandatory COVID-19 virus quarantine or closure order from any governmental agency, prior to or at the time for performance hereunder, or the Buyer’s financial institution is shut down for any reason related to the global COVID-19 pandemic or unable to send Buyer’s funds for the closing, the closing shall be automatically extended for a reasonable period of time after such quarantine or closure order is lifted or after such time as Buyer’s financial institution confirms that it can send Buyer’s funds for the closing.

Mortgage Requirement Revisions, Foreclosure/Eviction Relief and Small Business Assistance

 Significantly, in early March, the FHFA & FHA reiterated mortgage forbearance options and payment assistance available to those not only sick from the virus, but also owners who may be facing a temporary hardship from it, such as a borrower who is quarantined and unable to work:  Mortgage Forbearance Options Available to Owners Affected by Coronavirus

COVID-19 Update & Preventative Safety Measures and Resources

Upcoming Events

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Event
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Real Estate Investing
GBAR Member Service And Training Center
8:30am
 
Lunch & Learn: 1031 Tax Exchange
GBAR Member Service And Training Center
 
Pricing Strategy Advisor (PSA Certification)
Crowne Plaza Boston-Natick
8:30am