COVID-19 Information and Resources Available for Industry Professionals and Consumers
| May 13, 2020
With real estate brokerage, mortgage brokerage, and real estate appraisal deemed essential services by the Alberta Government, brokerages are not required to shut down operations during the COVID-19 pandemic.
But, while you can still carry out your duties as industry professionals, you should be staying up-to-date on current public health orders and understand the issues that may affect both you and your clients.
First and foremost, you should be discussing COVID-19 with your clients.
You are not expected to be an expert on COVID-19, but as part of providing competent service, you are expected to work cooperatively with clients to find a solution for relieving the concerns of everyone involved.
Please remember to also assess your own risk, using the current information made available by Alberta’s Chief Medical Officer. Being deemed an essential service means your business can continue despite public health orders effecting other businesses. It does not mean you are forced to work. If you are uncomfortable continuing to work during the pandemic, speak to your broker and to your clients and work out an alternate arrangement.
COVID-19 Resources for Industry Professionals
In order to assist industry professionals and their clients during this time RECA has made information and resources available on reca.ca.
For industry professionals, the COVID-19 and Real Estate page has information to assist you in:
- discussing options with seller and buyer clients
- discussing options with residential landlords and tenants
- response planning for commercial property management
- how to handle COVID-19 clauses or waivers
- working with modified practices of lenders, including the acceptance of electronic signatures
- modifying appraisal options
- developing COVID-19 contract clauses and liability waivers
- navigating government aid and assistance programs that may apply to your personal situations
- understanding scams and frauds related to the COVID-19 pandemic
- completing RECA education courses and contacting RECA
COVID-19 Resources for Your Clients
For your clients, the COVID-19 Information for Real Estate Consumers page has information to assist consumers with understanding:
- how adjustments made by lenders may affect their mortgage
- options for staying in or leaving the marketplace, or postponing their plans
- all the components involved in a transaction that should be considered
- options and rights as residential tenants, and modifications to the Residential Tenancies Act that all landlords, tenants, and their representatives should know
Information is Always Changing
Brokers, please consider linking to RECA’s COVID-19 Information for Real Estate Consumers webpage from your brokerage websites so your clients can easily access the consumer information.