- REAL ESTATE EDUCATION
- GIVING BACK
Advocating for our Community Amid COVID-19 Crisis
April 1, 2020
REBNY is advocating for the health of New York City’s residents and our economy, supporting our members by advocating for their interests in a variety of ways.
We are educating our members about new laws that can impact their businesses and using our resources to connect the real estate industry with federal, state and local officials and others in need.
REBNY continues to advocate for common-sense solutions to address today’s unprecedented economic challenges head on.
To keep crucial parts of New York’s economy moving, we believe that virtual business is critical. REBNY continues to push for technical advances like Governor Cuomo’s Executive Order allowing temporary virtual notarization of documents – a practice that both supports our industry and helps keep New Yorkers safe. Our organization issued best practices to help facilitate remote real estate closings. These guidelines focus on eliminating in-person interactions and leveraging technology in order to facilitate closings during the current crisis.
Additionally, to best help our agents, brokers and consumers when the market normalizes, REBNY stopped “Days on Market (DOM)” calculations across all consumer websites in New York City that participate in our Residential Listing Service (RLS) until further notice. Stopping the DOM calculation is essential. Because of the Coronavirus crisis, DOM calculations would not represent the normal cycle of the market.
REBNY is also focused on providing accurate and critical information not only to our members, but to all New Yorkers to help navigate these uncharted waters.
To do this, we continue to arm members with regular Coronavirus updates. We are in constant communication with federal, state, and local officials and continue to provide the most up-to-date and comprehensive guidance to our members. Additionally, we are hosting best-practices conference calls to inform real estate professionals on ways our industry can do our part to help.
Our new Coronavirus Resource Hub will connect members, the real estate industry and New Yorkers with resources related to the federal stimulus, real estate industry, government programs and ways to get involved. The Coronavirus Resource Hub will provide a trusted, centralized source of information that will help the real estate industry navigate the quickly changing business climate during this difficult time.
Lastly, REBNY is in constant contact with authorities and those in need in order to support our City. We connected our members with state and local officials to help locate vacant spaces for emergency operations. REBNY also put a call-to-action out to the real estate community detailing the specific needs and encourage anyone with space to contact us at email@example.com.
As we navigate these uncharted waters, the health and safety of New Yorkers is our top priority. We can all do our part. Even in our darkest hours, we know that the real estate and construction industries will have a vital role to play in rebuilding New York’s economy.