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Member News - April 22, 2020


Local

The Somerset County Business Partnership has announced that the U.S. Chamber of Commerce's Save Small Business Fund - a grantmaking initiative offering short-term relief for small employers in the U.S. - is now accepting applications to provide $5,000 grants to as many small employers as possible. 
To qualify for this grant, you must:
  • Employ between 3 and 20 people
  • Be located in an economically vulnerable community
  • Have been harmed financially by the COVID-19 pandemic
To apply:  A short application is  available on this page, and all you will need is your business’s W-9 form.

We are saddened to report that Frank Joseph Sydlowski of Coldwell Banker in Bedminster/Bridgewater passed away on Saturday, April 11, 2020. Frank was a long-time member CORE member. Our deepest sympathies go out to his family and colleagues. 


Webinar

NJ Biz - Connecting While Disconnected: Lessons From a LinkedIn Strategist Webinar
In lieu of payment for registration to this exclusive webinar, NJBIZ will be donating all registration proceeds to the NJ Pandemic Relief Fund. $1 . May 5 @ 11 am - 12 pm Register now.
 
Residential Real Estate Council - Free Webinar: How to Benefit from the CARES Act
Find out how you can take advantage of several tax-relief opportunities, unemployment benefits for the self-employed, and navigate mortgage forbearance under the CARES Act in this free webinar from the Residential Real Estate Council. Read more.

Bright MLS

Virtual Toolkit Spotlight:   RentSpree  RentSpree is an online tenant application and screening application, which allows a listing agent to invite prospective tenants to apply for a rental property online. It makes it easy to manage applications and screenings virtually. The service is free for Bright subscribers, and results are returned in a matter of minutes.  Watch the video   below and access the complete  virtual toolkit  for more virtual solutions. 

How to: Listing Agent Resources  With most physical offices closed, you may be taking on new tasks related to managing your listing updates. Here are some resources to help. 

NJ 

NJEDA - The NJ Economic Development Authority’s Initiatives to Support Businesses Impacted by COVID-19  The package of initiatives includes a grant program for small businesses, a zero-interest loan program for mid-size companies, support for private-sector lenders and Community Development Financial Institutions (CDFIs), funding for entrepreneurs, and a variety of resources providing technical support and marketplace information.   Click here for FAQs .

NJ BIZ - NJEDA Unveils Picks for Community Lender COVID-10 Business Relief Program - Each program is geared towards small businesses and micro-sized companies, which often have up to 10 employees. Read more.

NJ Realtors - IRS Extends Tax Deadlines
The IRS has issued guidance to grant deadline relief for 1031 like-kind exchanges and opportunity zone investments that are already underway.
  • 1031 like-kind exchanges: If the first step has been taken and the deadline falls between April 1 and July 15, the deadline has been extended to July 15
  • Opportunity Zones: If an investor who sold a capital asset planned to roll over the gain into an Opportunity Fund and the 180-day deadline to do so falls between April 1 and July 15, 2020, he or she can make the investment as late as July 15
Sole proprietors who pay their taxes quarterly have until July 15 to file their first and second quarter payment .
 
Last week, the NJ Department of Labor released new guidance for independent contractors applying for Pandemic Unemployment Assistance. Read more here.
There are two new guides to help you through the process:
 
NJ BIZ - NJ Businesses Got More Than $9.5B in PPP Money NJ small businesses nabbed 33,519 of the 1.6 million loans nationwide through the Paycheck Protection Program created by the federal COVID-19 stimulus relie f bill. Read more.
 
NJ BIZ - Report: South Jersey, Shore Likely to Feel COVID-19 Economic Pain Through 2020 Study rep orts global pandemic could hit large swathes of South Jersey far greater than the Great Recession did over a decade ago, and last through the end of this year. Read more.  
National 
 
NAR - Senate Passes Deal to Replenish Coronavirus Relief Funding The U.S. Senate passed legislation Tuesday to replenish funding for several coronavirus small-business relief programs championed by NAR and available to REALTORS®. The House is expected to vote later this week. Read more here.

NAR - Members TeleHealth SM Benefit Extended In its initial weeks of its introduction, more than 25,000 members and their families are receiving coverage through Members TeleHealth. Because of the tremendous response, NAR leaders have decided to extend the offer through May 31. Enrollment is Limited. Read more.
 
RIS Media - Addressing the Crisis: Shareable Content to Keep Real Estate Consumers Engaged and Informed S tay connected with clients and prospects by providing timely content they can share to their social sphere. Read more.

RPR - Ultimate Guide to Geographic Farming Real estate farming, also known as geographical prospecting, is a proven method of marketing your real estate business to a neighborhood or local proximity in a way that raises awareness of your brand, captures leads, earns referrals and gains listings . Read more.

NAR - Mortgage Forbearance Could Spark More Financial Woes Homeowners should fully understand what forbearance means before entering into such an agreement with their lender, financial experts advise. Many homeowners who take forbearance options will be on the hook for making up missed payments in a lump sum at the end of the program.  Read more.

NAR - Survey: Quarter of Consumers Accept Virtual Home Buying Listing date, detailed photos, and virtual and live-video tours suffice for some buyers practicing social distances. Read more.

NAR - Brokers Adapt to New Realities S hare with members:  Four strategies  brokers have been quick to embrace are keeping their business running smoothly during today’s stay-at-home new normal.

NAR - Loan Servicing Relief Needed The real estate industry is growing alarmed over recent moves to tighten credit standards for new loans to home buyers as banks try to fend off disruption and losses during the COVID-19 pandemic. NAR is warning that lending standards could grow even more stringent if federal regulators don’t step in soon to alleviate the servicer logjam in lending.  Read more.

NAR - Sight-Unseen Offers are Growing  Vir tual tours are giving some buyers the confidence to put in offers without physically stepping inside a home. Read more.
 
NAR - DocuSign CEO: “We Haven’t Seen a Slowdown Yet” T he need for electronic signatures is increasing and they're helping to keep deals on track. Read more .

NAR - 5 Online Marketing Strategies to Generate Immediate Business  If you are like most real estate agents and teams, right now you are trying to keep your pipeline full of buyer and seller leads, and a backlog of business for this month and...  Read more

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