By Gino Blefari
This week my travels find me in Washington, D.C. for the National Association of REALTORS® RES Advisory Group Meeting and next in San Diego to attend the 2017 AREAA National Convention (but more on that next week). I’ve long embraced the virtues of our industry’s leaders working closely alongside lawmakers to ensure not only the synergy of current legislation with our business practices but also to ensure our nation’s laws promote and encourage homeownership for all.
The meeting kicked off Wednesday at the Treasury Department with a presentation from Drew Maloney, Assistant Secretary for Legislative Affairs, Treasury. We were also joined that evening by Senator Isakson (R-GA), Congressman Sherman (D-CA) and Congressman Rothfus (R-PA).
As pure coincidence, on the day RES began, the brand-new Tax Reform Framework was released, called “The American Model for Global Competitiveness.” The main purpose of the reform, as stated in the document is to put “America on a level international playing field and [put] an end to the incentives for shipping jobs overseas.”
Maloney fielded questions from our group about this new Framework and how it affects the real estate industry. NAR released the following about where the association stands on tax reform: “Our current tax system is too complex, and tax reform should simplify it. However, tax reform must not discard the features of the system that provide the bedrock for homeownership in America.”
After the Q&A, I was fortunate enough to spend some time with Senator Isakson and was impressed, as always, by his strong and consistent advocacy of the real estate industry. If you didn’t know, he’s one of us. Isakson, along with being a prominent political figure, is also a successful businessman with more than 40 years of experience as a broker for family-owned Northside Realty. In addition, he holds the distinction of being the only Georgian ever to get elected to the state House, state Senate, U.S. House and U.S. Senate. Last year he broke yet another record as the first Georgian Republican to ever get elected for a third term to the U.S. Senate. Now that’s an impressive and well-respected leader!
This Thursday morning, Rei Mesa, 2017 RES Chair and president and CEO of Berkshire Hathaway HomeServices Florida Realty called the meeting to order and next we received an update from NAR CEO Bob Goldberg, who was grilled with some tough questions and handled them all with characteristic intelligence and poise. Kudos to Ron Peltier and Lennox Scott who were very direct with Bob on how NAR can improve its support of real estate professionals.
After, Lawrence Yun, NAR Senior Vice President of Research, provided a housing and market update, followed by Jennifer Barnard, FBI Headquarters, Supervisory Special Agent, who spoke about the perils of wire fraud and what we can do as an industry to prevent this persistent problem. Katie Johnson, NAR Senior Vice President and General Counsel, finished up the day with a legal presentation.
Some additional notable priorities for the RES Meeting included:
- Educate the REALTOR® community about data security and cybercrimes related to real estate transactions
- Protect the Mortgage Interest Deduction
- Support Upstream implementation
- Improve down payment savings options for first time home buyers
… And more.
So, what’s the message? The one, huge takeaway from my time spent in Washington, D.C. is the importance of staying informed, staying connected to our legislative leaders and staying educated on what’s happening in government and how these changes affect our industry. A good place to start would be here, researching NAR’s official stance on tax reform. Whether or not you agree with the position taken, it’s important as a leader to have an opinion that’s researched, strategic and informed. The best leaders are those who don’t just say what they want but also exactly why they want it. Take heed from this RES group, filled with busy and important leaders who no matter what give up their time to attend because they understand the significance of making their voice heard in such an impactful setting as our nation’s capital.