Internal memos from 2 major Manhattan brokerages reveal their coronavirus precautions. One isn't seeing an impact on open houses - yet.
- Two internal memos that New York City real estate brokerages sent to their agents detail their preparations for dealing with the coronavirus and how to prepare for its potential spread.
- The memos, from Compass and Warburg Realty, lay out detailed tips for ways agents can avoid coming into contact with the virus.
- Warburg's memo said it has not yet seen an impact on open houses or showings. The memos said agents should prepare for quarantining, if necessary, or "the off chance of a life interruption." Both firms said they would provide additional guidance, as needed.
- Visit BI Prime for more stories.
The coronavirus is spreading through New York City, with new diagnoses by the hour, and real estate brokerages are prepping their agents and bracing for its inevitable impact on business.
Internal memos seen by Business Insider written by two major New York brokerages, Compass and Warburg Realty, described the precautions they are taking, along with detailed tips for their agents. They laid out new guidelines for observing cleanliness, traveling for work, and working from home. One of the brokerages said the outbreak has not impacted open houses or showings. Both said they would provide additional guidance as needed, with the outbreak still developing.
Here's what the memos advised for real estate agents navigating the outbreak.
Heightened cleanliness measures, and no shaking hands
Warburg advised agents to avoid shaking hands.
"Try to limit the use of hands (or try and use gloves) when entering or exiting apartments or buildings, riding buses or subways or in taxis," Warburg's memo reads.
According to the CDC, the virus is spread between people who are in close contact with one another and through respiratory droplets produced when an infected person coughs or sneezes.
Warburg also said agents should be cleaning their desks, phones, and laptops regularly.
"Clean common surfaces like doorknobs, counters and bathroom fixtures, phones, keyboards, tablets at least once a day," according to Warburg's memo. "Studies suggest that coronaviruses can live on surfaces for a few hours or up to several days."
The brokerages changed guidelines for travel and working from home, but offered relatively few details
While no travel restrictions are currently in place within the US, Compass asked its agents to halt non-essential professional plane travel in March.
"For example, if you were planning to fly to a work conference this month, please cancel your participation," according to Compass' memo, dated March 2.
Warburg advised agents to stay at home if someone in their household is sick. It also said it would continue to support staff in the event of a quarantine, noting it can access its systems remotely. It did not elaborate, except to say it would issue additional information if this became necessary.
Compass also asked agents to "prepare for the off chance of a life interruption."
"Public health officials recommend buying a month's supply of any daily medicine or prescriptions, non-perishable food and toiletries / cleaning supplies," according to Compass' memo.
One brokerage hasn't seen an impact on open houses and showings (yet)
Warburg's memo gave a detailed layout of how agents should be preparing for open houses and showings.
"When scheduling appointments, please confirm that no one in the apartment has been or is ill and that the parties involved (customers, brokers, etc.) are not ill," according to Warburg's memo.
Warburg said it has not yet seen an impact on open houses or showings, but this can change when and if the virus continues to spreads.
"When conducting an open house, come with supplies - Purell, paper towels or tissues, etc. - and be sure you have the name of all attendees (brokers, buyers)." the memo said. "If someone does attend the open house who appears to have a cold, don't be bashful - politely ask them to leave!"
Warburg and Compass confirmed the memos' accuracy and declined to comment further.