| Temporary Changes to Local Realtor® Activities |
| We’re Here For You. We want to assure you that The L.A. Loft Blog is making every effort to assist you during these challenging times. Below is an updated summary of new rules and real estate updates during the COVID-19 crisis. #coronavirus #tips #updates |
| New Rules & Updates: Already Implemented | Blog Video Physical (Face-to-Face) Open Houses Prohibited & Will Be Replaced by Virtual Open Houses The MLS™ #realestate agent multiple listing service has removed all current and upcoming open houses, and has disabled the creation of new open houses. Amid the Coronavirus (COVID-19) global outbreak, Governor Gavin Newsom has issued a statewide order to “Stay at Home”. Per the California Association of REALTORS® (C.A.R.), agents and brokers should cease doing all face-to-face marketing, including open houses, in order to comply with the state mandate. Hold Status Extended to 60 Days Twice Hold Status has been extended from 10 days to 60 days. Sellers and their agents can opt to use the Hold Status up to two times, however, it cannot exceed the duration of the listing agreement. DOM Days on Market Freeze Because properties cannot be fully marketed at the moment, the days counted as being on the market has been frozen. Until further notice, and due to the current orders in place on a federal, state and local level, the computation of Days on Market (DOM) has been suspended until further notice. The MLS™ will suspend counting Days on Market (DOM) retroactive to March 15th. “Coming Soon” “Coming Soon” listing status can be used for the entire duration of the listing contract. Soon-to-Be Released Virtual Open Houses – Release Date 3/30/20 Virtual open houses will soon become available to help sellers attract home buyers while adhering to the new “Stay at Home” policy. Sellers may request that their agents select to create and share a virtual open house on social media platforms, such as YouTube, Facebook, and Instagram. #losangeles #california |
| Questions? Call the L.A. Loft Blog Real Estate Help Line 213-880-9910 |
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE 01889449 We are not associated with the homeowner’s association or developer. For more information, contact 213-880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.