Nearly 3 in 4 REALTORS currently working with sellers this week – 74% – reported their clients haven’t reduced listing prices to attract buyers according to a new survey from the National Association of REALTORS.   This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain economic environment brought about by the coronavirus pandemic.

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In light of the challenges presented by COVID-19, and its impact on the real estate industry, NAR is taking steps to support members through these uncertain times.  The Right Tools, Right Now initiative, which was activated once before in 2009, makes new and exciting NAR products and services available for FREE or at significant discounts–right now–and is available to REALTORS.

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Yesterday, Saturday, March 21st, Missouri Gov. Parson issued an order limiting gatherings to 10 people or less.  In St. Charles County gatherings over 10 people are subject to a $1,000 fine. Please use care when showing property or holding open houses.  Be sure to consult with your seller before determining a course of action in regards to showings or open houses.

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The regional forms committee today released two amended forms to help you navigate your business in these uncertain times: COVID-19 AMENDMENT TO SALE CONTRACT:  This forms includes provisions on how to handle delays to closing or financing that could result form COVID-19 related restrictions.  It also provides the option of terminating the contract due to the effects of COVID-19 restrictions.

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