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RRC Notifications, Updates and Resources

Paycheck Protection Program Flexibility Act

Updated May 29, 2020

The House of Representatives just passed the "Paycheck Protection Program Flexibility Act," which makes several amendments to the CARES Act to make PPP loans more helpful to small businesses by increasing flexibility.  The changes include:

  • Extending the program sunset to December 31, 2020; 
  • Extending the length of time businesses can use the loans from 8 to 24 weeks, or until the end of the year (whichever is earlier) (note: businesses that have used it in 8 will not be penalized);
  • Removal of the requirement that 75% of the loan go toward payroll costs; 
  • Makes PPP recipient businesses eligible for the delayed payment of employer payroll taxes in the CARES Act; and 
  • Creates an exception to the rehire requirement for employees that were let go due to COVID-19 if a business can show that they are unable to return to normal operations due to compliance with federal government rules or guidelines based on maintaining sanitation, social distancing, or worker/customer safety requirements related to COVID-19. 

Legislation Approved to Replenish Coronavirus Relief Funding

 

Updated 04/24/2020

U.S. legislation approved and signed on Friday, April 24, 2020 to replenish funding for several coronavirus small-business relief programs championed by NAR and available to REALTORS®.

The legislation provides $484 billion to replenish the Paycheck Protection Program (PPP) which will receive $310 billion in new cash, while the Economic Injury Disaster Loan (EIDL) fund will receive an additional $50 billion.

Visit nar.realtor/coronavirusSBA to address frequent questions about what the PPP and EIDL programs are, who is eligible and how to apply.

Coronavirus Relief Options – Small Business Administration

Updated 04/21/2020

The CARES Act appropriates more than $360 billion total for new Small Business Administration (SBA) programs - the 7(a) Paycheck Protection Program (PPP) loans and the Economic Injury Disaster Loans (EIDL) advance grants program.

EIDL’s are low-interest loans for small business that experience an economic hardship as the result of a declared disaster.

PPP’s are intended to cover expenses for a business during any 8-week period between February 15, 2020 and June 30, 2020. They can be used for payroll costs, rents, mortgage interest, and utilities.

The appropriations for both the PPP and EIDL have been exhausted. NAR has sent a letter to Congress on 4/13/20 urging quick action to provide additional funds for these loans, to ensure that they can assist as many small businesses in need as possible.

Provided here is a series of Q&As to address frequent questions about what these programs are, who is eligible and how to apply.

Coronavirus Advocacy Updates

 

Updated 04/08/2020

As the actions out of Washington evolve daily, NAR has release a Q&A to address the ongoing fixes being proposed and implemented in response to the pandemic.

Congress has now passed three stimulus/relief packages dealing with COVID-19. They have incorporated the provisions of those bills into this document. The Administration is providing more relief by the day. The document will be updated as events warrant.

Coronavirus Resources and Guidance for Employers

Updated 04/02/2020

Resources are now available to assist brokerages who have employees meet their obligations under both federal laws. 
 
To remain compliant with OSHA, the U.S. Department of Labor, Occupational Safety and Health Administration has compiled its advice for employers in Guidance on Preparing Workplaces for COVID-19.
The guidance provides employers with detailed steps they can take to protect employees.

Message from the CEO

To our valued members,

I think it’s safe to say that it’s been a rough few weeks for everyone, as we learn to balance the safety and social responsibilities in our work and at home and adjust to this new normal. We hope you know that you’re not facing it alone. These times call for us to unite together because the things that hurt us today can make us even stronger.

Read More

 

Notifications

Updated 03/26/2020

Our staff is working diligently to respond to all inquiries and concerns in the order in which they are received. You may experience a slight delay, but please know we are working to best support all of our valued members and customers.

Know that NAR closed the Chicago Headquarters Building (where our office is based) on Monday, March 23rd, 2020. If you have mailed anything to our attention, its processing will be delayed until we are able to enter the office again. We ask for your patience and understanding surrounding this, and if possible, please scan or email any documents, applications, or the like to CRSHelp@crs.com for a quicker response.

 

COVID-19 NAR Updates

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Updated 03/27/2020

Congress passed a $2 trillion COVID-19 economic relief package on March 27, 2020 with overwhelming bipartisan support.

As more guidance is released by the Administration on how these new programs will be implemented, updates will be provided.

Updated 03/25/2020

The coronavirus pandemic continues to impact the real estate industry. NAR continues to release helpful guides for REALTORS® to adapt and navigate through this extraordinary circumstances and we are closely monitoring the updates to be able to provide the relevant information to our members.
As the federal and state governments address the COVID-19 (coronavirus) crisis, NAR is advocating for the interests of the real estate industry.

For more details click here

NAR has also released open house guidelines. If your state is enforcing the “shelter in place” mandate, all broker/agents need to follow the law in their state. If your state is allowing open houses to take place, NAR is highly recommending agents to use other ways to market properties during this time. To read the full open house guidance from NAR click here

Learn, Connect & Grow

Covid Tile Update
NEW Free Webinar for Members – Latest Update on CARES Act

In this webinar you will learn how to determine the forgivable part of the PPP loan. Lenders will require specific documentation on the use of qualified expenses, or the PPP loan may not be forgivable.

The instructors provide an Excel spreadsheet to help you maintain records you will need to provide to your lender following the eight weeks after receiving the PPP loan. Click here to register and watch immediately! 



Updated 05/12/2020

Missed the Member Update?
Click here to watch.


Updated 05/12/2020

NEW!
Virtual Summit: Doing Business in a New Era
Wednesday, June 24, 2020

It’s a new era and real estate is changing faster than ever before.  
As we evolve and respond to the ongoing global changes, our goal is to equip and empower our members with the tools and knowledge to stay ahead of the market and be prepared for the new reality we are facing. Click here to register >


Facebook

CRS Designees join us on Facebook in the  We Are CRS Facebook group each week for tips, ideas and lessons CRSs and Instructors share.  Look for Learning Fest and Facebook Live announcements for quick just in time educational events.

May Meetings

Updated 04/21/2020

RRC’s May Meetings will be conducted virtually April 29 - May 1, 2020. Click here for the updated meeting schedule and more information.

To see NAR’s Legislative Meeting update and full agenda click here.

Sims Distillery Login

RRC Members take advantage of the time and join past SAB Keynote, Steve Sims, online for a Free Quarter on the Sims Distillery.  It includes 16 videos, pdfs, along with access to a the private SpeakEasy Facebook group that includes 2 live sessions with Steve each month. Use code: CRS20 when prompted during checkout.

Upcoming Virtual Classes

Complimentary Education

Online Meeting Tips

The key to any meeting online or in-person is to make the most of the experience together. The following are some quick tips to help you elevate your virtual meetings.

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Additional Education

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 Complimentary Training and Educational Resources

Upcoming Free Webinars

Stay on top of new developments that impact your business with of our experts.

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Don't worry if you missed one of our webinars, free recordings available for immediate access.

Upcoming Online Events

Come together online with your peers for coffee, trivia, or a watch party.

NAR Resources & More

Visit NAR's online resources assembled to help REALTORS®

Virtual Pro Classes

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Make the most of your time and earn the CRS Designation Online with highly interactive Virtual Pro Class.

Credit Type: CRS Course

Credit Hours: 8

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RRC Now Podcasts

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Take RRC Education with you with the RRC Now podcast series.  RRC Now features our popular complimentary education offerings "on-the-go." Learn from your car, the gym, or practically anywhere! Learn more below, or subscribe wherever you listen to podcasts.

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