Daily Archives: April 14, 2020

How Is the Coronavirus Impacting Real Estate Over Time?

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Caroline Feeney on homelight.com has created this interesting infographic that highlights how real estate agents are adapting to coronavirus. Insights include:

  • 84% have shut down open houses.
  • 68% are leaning into e-signature and digital closing tools.
  • 55% are doubling down on virtual tours.
  • 54% are replacing in-person client meetings with virtual ones.
  • 51% are working with inspectors to implement new safety protocols around property inspections.
  • 44% are restricting or eliminating physical showings.
  • 33% are adapting to alternative appraisal methods for their clients.

For the full article, click here.

RE/MAX Expands National Advertising Campaign to Address Changing Role of Real Estate Network

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Franchisor Unifies Global Community to “Rise Above” in Two New Commercials

Denver, CO – April 13, 2020 (PRNewswire) Today, RE/MAX, LLC, in collaboration with award-winning agency Camp + King, announced the addition of two new spots to its 2020 advertising campaign aiming to bring people together with a message that “We Will Rise Above” during this time of uncertainty.

“In the past few months, the world as we know it has changed,” said Abby Lee, RE/MAX Senior Vice President, Marketing and Communications. “Our original campaign was much more playful and no longer felt right for the times. This new direction speaks with compassion and hope while delivering a reminder that RE/MAX agents are still serving as trusted advisors to their clients and communities.”

The two commercials span TV, digital and social media outlets and focus on the words “If we work together we will rise above,” giving a nod to the iconic RE/MAX hot air balloon. Adding to the repository of RE/MAX-owned customizable ad campaign assets on the RE/MAX Hustle website, one of the spots includes a feature where agents can personalize the end card of the spot with their name, photo, contact information and a short message of encouragement.

Over the last month, RE/MAX agents from across the world have supported their local communities with more than just real estate. For example, some agents have sewn face masks and delivered food to elderly clients and school children.

“Across all industries and across all brands it is clear that the current goal is to help people first and foremost,” said Roger Camp, Founder and Chief Creative Officer at Camp + King. “Adding these new ad spots to the RE/MAX Network’s media mix matches the changing landscape and roles of real estate agents. The spots communicate solidarity with the larger communities we’re now all a part of.”

Added Lee, “We want to comfort those we have helped find homes for in the past, and those we will serve in the future, with a message that we are here for them, ready to work with them and available to answer their questions as their unique situations continue to evolve.”

To see the customizable ad spot, click here.

About the RE/MAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with over 130,000 agents in more than 110 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. Dedicated to innovation and change in the real estate industry, RE/MAX launched Motto Mortgage, a ground-breaking mortgage franchisor, in 2016 and acquired booj, a real estate technology company, in 2018. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit news.remax.com. 

Realtors® Applaud IRS Move to Provide Tax Relief to American Consumers

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Washinton, D.C. – April 10, 2020 (nar.realtor) National Association of Realtors® President Vince Malta issued the following statement Friday after the IRS extended various federal tax deadlines, offering critical relief to NAR’s members and their clients.

“During recent weeks, NAR strongly advocated for tax payment deadline extensions – including for 1031-like-kind exchanges and Opportunity Zone investments  – as this pandemic left small businesses and independent contractors particularly vulnerable,” said Malta, broker at Malta & Co., Inc., in San Francisco, CA. “On behalf of 1.4 million Realtors® across the United States, I want to commend the IRS for moving quickly to protect countless American workers and consumers.

“NAR’s federal advocacy team in Washington has kept in constant contact with the IRS and Treasury Department since this crisis began, and the deadlines extended Thursday will provide immediate relief from some of the disruptions caused by COVID-19. There are 9.5 million jobs in the real estate, rental and leasing sector – while every two home sales generate one American job. NAR is grateful that the IRS is committed to ensuring our industry remains in the best possible position to lead in our nation’s upcoming economic recovery.”

Background

Aside from the previously extended April 15 estimated tax payment deadline, the new IRS notice also extends relief to estimated tax payments due on June 15, 2020. This means that any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July 15 to make that penalty-free payment, ensuring capital remains in the hands of America’s small businesses as they work to retain employees and maintain operations.

Of particular interest to Realtors® and the real estate industry, the new extended deadlines apply to existing 1031 like-kind exchanges and opportunity fund investments, both of which were designed to foster economic growth in America, particularly in underserved communities. NAR has argued that well-meaning investors in these programs should not be harmed due to the effects of COVID-19.

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.

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