“The market disappeared:” Real estate agents struggle to stay afloat amid coronavirus outbreak

The coronavirus's ripple effect in the economy continues to weigh on various business, especially the real estate market.

News 12 Staff

Apr 1, 2020, 9:08 PM

Updated 1,508 days ago

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The coronavirus's ripple effect in the economy continues to weigh on various business, especially the real estate market. 
Real estate agent Audrey Moore, of Briarcliff Manor, works for Better Homes and Gardens Rand Real Estate. Moore says her industry is at a standstill.
"The market disappeared in March and, of course with the governor's order of not being able to do anything in the tri-state, it stopped completely," she says.
Moore says it's the complete opposite from last year, which she says was booming for real estate.
"I personally was the top producer in my officer in Briarcliff Manor and won a platinum award from my company," she says. "What happened now is, instead of building on it, we can't do anything."
Adding to the stress, home buying is only growing more difficult as lenders tighten loan restrictions because of the uncertain economy.
"People were looking and they had their pre-approval when this started happening and their job status changed. I told them, 'Why don't you call up and get a new pre-approval,' but when they called, they weren't able to get a mortgage," says Moore.
Two weeks since her last closing, Moore is now spending her free time doing virtual training at home and trying to stay afloat under orders to stay isolated.
For the first time, there is help for agents who can apply for unemployment. Independent contractors can apply for unemployment under the Pandemic Unemployment Assistance Program.


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