The Texas Association of Realtors (TXR) is not taking the COVID-19 pandemic lying down. Instead, they have issued a series of responsive forms designed to assist their Realtor members and buyers/sellers in navigating the current market uncertainties.
The forms are helpful resources for real estate agents, as well as buyers, sellers, landlords and tenants. Among the forms are the following:
- COVID-19 Addendum
- Commercial COVID-19 Addendum
- Commercial Lease Rent Forbearance Agreement
- COVID-19 Lease Payment Plan Agreement
TXR has also issued advisories pertaining to issues faced by real estate brokerages, property managers, and buyers/sellers of real estate.
One of the more interesting of the new forms is the “Model Certification for Property Access.” This form incorporates the CDC health-related questions, and is designed to be completed by anyone entering a listed property. Only time will tell how controversial the form will prove to be.
Real estate is an essential sector of the US Economy whose performance is often viewed as an indicator of overall financial conditions. Prior to the onset of COVID-19 as a national crisis, real estate was in a near boom cycle.
Real estate professionals in Texas (and throughout the country) have made great strides in continuing to provide service to their clients. However, whether real estate is an “essential business” within the meaning of governmental emergency plans is subject to debate. In my opinion, the determination of how and whether to conduct business is as much a moral and practical question as a legal one. As we were all taught as children, “just because you can doesn’t;t mean you should.”
GREAT FAQ RESOURCES FOR REAL ESTATE PROFESSIONALS
Both TXR and the Texas Real Estate Commission have published excellent FAQ resources related to the practice of real estate in these uncertain times. Those links are as follows:
