Realtors await aid as pandemic cuts business by over 50%

Local News

STOCKTON, Calif. (KTXL) — Some business owners have lost a large percentage of their business due to the pandemic and the stay-at-home directives that followed in California. 

The owners of Valley Pacific Realty and Investments, Munish Ghai and his son Parth, say their company has lost almost 80% of their business in just over a month. 

“We seen so many good times and bad times, and now, we are going through the struggling times,” said Munish. 

“With the stimulus package and the grant, we’ve applied for both of them but we haven’t gotten anything yet,” said Parth.

San Joaquin County recently updated its orders now allowing churches to conduct drive-in services and golf courses to open. 

“A lot of fear and anxiety in the market right now. So, me and my dad, we’ve lost about eight transactions,” Parth told FOX40. “So, eight transactions in real estate that’s about $80,000.” 

The county clarified that real estate appointments must be done virtually or if in person, they must be done by appointment only. In-person appointments, says the county, must only have two visitors at a time with only one realtor showing the unit. 

“A lot of buyers are saying, ‘We are going to wait a few months. We are going to see how this plays out.’” said Parth. 

Parth went on to say that more needs to be done to help realtors. 

“It’s a high ticket industry,” said Parth. “People are putting in a lot of money to buy a home, so even a virtual tour — it’s just not really enough.”

Even after a canceled wedding anniversary ceremony planned for family and friends, Munish and his family are still finding way to give back. 

“We decided we cancel the party and we had $10,000 for this party and we bought almost 2,200 face masks and a lot of sanitizer,” said Munish. 

Munish and his family will keep working to keep their business afloat while maintaining a bright outlook. 

“Hopefully things will start to pick up again and we are just taking it day by day,” said Parth. 

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