Ryan Rockwood RE Team238 Covid 19 Financial Resources for Real Estate Professionals
Virtual Results serves Real Estate Professionals nationwide with a Software as a Service to help them succeed online. Our goal with this site is to rapidly educate our members and other Real Estate Pros on every opportunity for financial aid possible. We are monitoring the Covid financial relief efforts from the perspective of real estate agents. In other words, we are on your side and hope this information is helpful.
Additionally, we know that agents have deep local ties in their community to many small business owners. This information can also help many small business owners and we hope to enable agents to effectively share information with their own sphere of influence in efforts to speed recovery and save many small businesses.
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A word of encouragement. After more than 2 weeks of not a single update I received this update today in my inbox. Hang in there. Continue pushing for every option.
VERY IMPORTANT.... The application is a set of about 10 steps. Each step failed on submission and returned a blank page with an error message (likely due to the site traffic). I didn't lose my work or have to start over, to my surprise. Instead I hit page reload again and again. Sometimes as many as 10 times before the page would successfully load. I was pleasantly surprised that despite the hassle I was able to get through the process.
Despite the overhaul the process is still awkward and at a couple points the best optional answer seemed silly. Nevertheless I was able to muddle through it and I'm sure you will too.
CAUTION: One of the last pages is a summary of all answers and it really appears you are done. Nope. Don't be fooled. There remains a couple page of final submissions required. Scroll all the way to the bottom each time. Print out the confirmation as "Save to PDF" and store it should you need it again.
Hope this helps!
Yesterday (4/14/20) California Labor Secretary Julie A. Su released clarification regarding the State's handling of Unemployment claims for Independent Contractors as part of the recently passed CARES act's Pandemic Unemployment Assistance (PUA) program.
Bottom line: CA is building a new PUA application process. It will be ready 5/1 and funds will be processed within 24-48 hours of application. It will be available to Independent Contractors.
Su went on to explain the CA Employment Development Department has already expanded hours to 6 am to 8 pm 7 days week to handle the increased demand.
Like me, many agents have muddled through the existing application process only to be denied a claim. That's been frustrating. So I'm actually very encouraged by this recent update. My worst fear has been that Independent Contractors would be forced to argue and appeal their cases. Additionally, there have been rumours that States might actually resist the Federal Government's new rules and that compliance might be spotty.
However, I believe the CA Labor Secretary's statement is clear and extremely detailed. It even includes details on how much Independent Contractors will earn (about what we expected) under the program. Additionally, it seemed clear that existing applications would NOT be processed under the system. So expect to reapply on 5/1.
The CA Labor Secretary's original statement can be found here: https://www.labor.ca.gov/wp-content/uploads/2020/04/Labor-Secretary-Letter-04.14.20.pdf
Now, please do remember that for those of you who do not have employees (most agents) your total will likely be $1k vs $10K. This news is from announcements in recent days from various SBA branches, so (re)set expectations accordingly.
To be clear, since I used a dummy name and address I wasn't consistent on the application because I had forgotten my earlier entry. If it were real I'd be careful to put my own name and address down for the worker and the employer!
Hope this helps!