Tony Lewis, Summit Real Estate Santa Clarita & OC Laguna Nigel (RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident)

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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Under the government assistance loan, some of which may be forgiven, you can call and get money immediately.  An agent in our office who has nothing going on and is struggling to pay the bills right now made a call to the number, gave them the info they asked for, and they wired her money immediately.

Apr 04, 2020 12:15 PM
Rainmaker
992,363
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

YES!

Normally no, but right now, YES! But not if you get the PPP Loan.

You have to choose. I filed. Watch the video I linked you to for Club Wealth & Mark Kohler Tax Attorney.

Stimulus Checks based on last filed tax return:

  • Single People ($ earning under $75K AGI) = $1,200 check in the mail
  • Married Couple ($ earning under $150k AGI) = $2,400  check in the mail
  • $500 bucks per child dependent under age 24 years.

 Unemployment (under the state), under the CARES ACT, has been extended for up to 26 weeks and Small Business Owners Are Eligible To Claim Unemployment. Normally 12-13 weeks, extended by 13 weeks now.

$150-$550 each state ranges, look up your state rules. Federal Gov said for the next 12 weeks you get $600/week Federal Unemployment.

Apr 04, 2020 03:28 PM
Rainmaker
2,731,914
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I believe you have 2 options now, given last Friday's bill.1) gig workers (and I believe independent contractors, etc. can get unemployment...and it's the "usual" amount  according to your state's formula which is usually a % of previous salary up to the cap (determined by the state)...in NY max of $504 per week (and now +$600) and no 1 week delay and retroactive (as most state websites are crashing.  find out/apply at your state's dept of labor.
2) you can apply for a loan...some may be forgiveable....some may require that it pays for rent, utilities, employees or for the rest...call to find out the options as I'm hearing different things, so don't go off ofwhat I say here. (and apparently there is also possibility of up to $10,000 in grants....not sure the requirement.

and of course,many will see the $1,200 per adult, $500 per kid if they made $75K or less (I believe last year) or $150k per married couple  and then I think staggered until $100k/$200K.  Of course not adjusted for cost of living so probably not that helpful for those in high cost of living areas like NY and CA

Apr 04, 2020 02:23 PM
Rainmaker
763,370
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I don't know if you call it unemployment or what but I believe that we are eligible for some kind of payment for the Feds. I just have not figured it out yet.

Apr 04, 2020 12:24 PM
Rainmaker
189,307
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

This is what our association said, "REALTORS® who are not otherwise eligible for unemployment insurance, such as independent contractors, will be able to obtain unemployment assistance for up to 39 weeks if they were negatively impacted as a result of COVID-19 between Jan. 27- Dec. 31, 2020." 

     They then said to wait before applying.  It sounds like they are still working out the details.

Apr 04, 2020 04:33 PM
Rainmaker
5,774,724
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Check the new regulations and make your call for assistance. Click on the link...

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed into law on March 27, 2020, provides relief to families, small businesses, and individuals who are self-employed and independent contractors. A key provision in the law creates a temporary “Pandemic Unemployment Assistance” program that extends unemployment benefits to those not traditionally eligible, including self-employed individuals. 

Apr 04, 2020 04:00 PM
Rainmaker
201,808
Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

I didn't think we were but then I spoke to another agent she said yes, you will get $1,200 in about 2 weeks. True or false. don't know. Guess I find out in about that time.

Apr 04, 2020 02:20 PM
Rainmaker
2,546,522
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

No however we have been declared essential personnel making us eligible for loan relief from the gov

Apr 04, 2020 01:58 PM
Rainmaker
3,560,548
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It looks like what is normally a "no" now has become a "yes"!

Apr 05, 2020 05:12 AM
Rainmaker
1,728,122
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I checked it out when I closed/sold my brokerage Tony Lewis and in ND I was not even though I'd paid unemployment insurance for years.

Apr 04, 2020 02:59 PM
Rainmaker
4,822,924
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

It looks like Chris Ann Cleland has your anser.  A

Apr 04, 2020 01:03 PM
Rainmaker
855,880
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I don't know. I know self-employed are. Not sure of 1099 contractors

Apr 05, 2020 11:05 AM
Rainmaker
1,908,415
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I think we are covered in the relief bil

Apr 05, 2020 07:25 AM
Rainmaker
1,601,695
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Supposedly we are but I haven't tried to file or anything. We were added to the list.

Apr 05, 2020 06:50 AM
Rainmaker
495,181
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

we are a 2 person corp so our commisions are paid the the company and the company pays us. The co pays unemployment insurance so we are eligable. We thought ahead.

Apr 05, 2020 05:01 AM
Rainmaker
150,075
Denise Copeland
Home Sales Palm Beach - Jupiter, FL
Jupiter Abacoa Sales & Beach Front Luxury Homes

Yes. If your state has mandated that no contact be made with clients, then you are eligible. Unfortunately the unemployment websites are crashing from the overload. I set my alarm for 3:15am this morning and just finished filling out the online form after unsuccessfully inputting information repeatedly for the past week. If you do decided to file, SET YOUR ALARM FOR AN UNGODLY TIME OF THE NIGHT / MORNING. It worked. This past week has been hell trying to file. I must have spend over 40 hours, only to have the site crash repeatedly. 

I do have an additional question!!! I'VE HEARD THAT SELF EMPLOYED / CONTRACTORS ARE ELIGIBLE FOR AN ADDITIONAL $600 A WEEK. Does anyone know if there is additional paperwork required to receive these funds?

Apr 05, 2020 01:34 AM
Rainmaker
1,296,752
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

In Cali gig workers are eligible.  There are steps to file on the EDD website.  Ventura County still has us as non-essential, don't know about LACo.

Apr 04, 2020 07:37 PM
Ambassador
4,661,853
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on the state laws, but it would have to be paid in before it is collected.

Not likely to be collected on in our state since none of the brokers have been paying into it.

Apr 04, 2020 07:21 PM
Rainmaker
617,925
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Not in Canada as we are self employed and we don't pay into it.

Apr 04, 2020 07:14 PM
Rainmaker
1,077,136
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Some brokerages pay employees a wage. Redfin does.  As for me, no.

Apr 04, 2020 07:11 PM
Rainmaker
2,870,089
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Yes. 

Apr 05, 2020 09:38 AM
Rainmaker
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Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I believe that we are, I have heard about some agents applying for it in my area.  We definitely should be, I know business is affected by it.  I have had at least one client pause his search for a home and I am sure there are others that were thinking about doing something that put that thought on pause.

Apr 05, 2020 09:16 AM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

It's a small business loan but, I am not 100% sure of the details. I know NAR sent something out recently. You may want to go to the NAR site and do a search, Tony.

Apr 05, 2020 09:38 PM
Rainmaker
3,159,418
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Here in NH the answer was no until they extended the $600 additional unemployment from the feds. On teh other hand is the loan, now I di dhear there will be another product coming out geared more towards Realtors and self employed, but not sure if they will follow through still working out the first loan program.

Apr 05, 2020 02:13 PM