A multiple listing service and a Realtor association in Tennessee have teamed up to provide a disaster relief fund for Realtors affected by the state’s recent flooding.
RealTracs Solutions regional MLS and the Greater Nashville Association of Realtors have set up a fund, the “Rising Hope Disaster Relief Fund,” to help Realtors with their monthly rent or mortgage payments and possibly other housing-related costs as they rebuild, the announcement said.
Severe floods last month killed 22 people in the state and Nashville alone suffered more than $2 billion in damage, according to the Associated Press.
“During times of crisis caused by a natural disaster, Realtors are often doubly affected when not only are their own properties affected, but also their livelihoods are destroyed,” said Lucy Smith, the association’s president, in a statement.
In addition, real estate professionals whose homes were damaged could end up being responsible for both the home’s monthly payment and rent somewhere else while they rebuild, Smith told Inman News.
“Many (real estate professionals) are trying to serve clients, customers and others in the community, but have their own personal challenges to address due to the flooding,” said Stuart White, president and CEO of RealTracs Solutions, in a statement.
“Our hope is to give some relief to them so they can be less distracted and provide their professional insights on housing and support services to others in need right now.”
RealTracs is currently in the process of creating its own 501(c)3 nonprofit to administrate the fund, the announcement said, and in the meantime, the association’s Education Fund will collect and distribute the monies. The fund currently has $110,000 contributed by both organizations. Smith said they hope other real estate agents and associations unaffected by the disaster will donate to the fund.
To apply for funds, Realtors can go to disasterrelief.realtracs.com or the RealTracs website. An independent committee selected by the foundation will review applications.
Anyone can make a tax-deductible donation at the same website or send a check with “Relief” in the memo line to the GNAR Education Foundation, c/o Disaster Relief Fund, 4540 Trousdale Dr., Nashville, TN 37204.
The National Association of Realtors has also contributed $50,000 to the Nashville Area Habitat for Humanity for the rebuilding and rehabilitation of homes, the announcement said.
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