Is your agent attending the NAR Legislative Conference? I am. Here are 6 reasons why.
Forthose who follow me, you know that I attend several real estate conferencesacross the country throughout the year. The National Association of Realtors(NAR) “Mid-Year” Legislative Conference takes place in Washington DCnext week. I will be there and so should every REALTOR in the United States.“Midyear” is unique because it takes place in our nation’s capital andhighlights the impact that the real estate industry has on the financial healthof our country.
As weall know, residential real estate provides housing for families. It’s often thegreatest source of wealth and savings for many of us. For this reason the realestate industry, from the national to the local level, plays an integral rolein the U.S. economy.
6 reasons why I will beattending the NAR Mid-Year Legislative Conference:
1.) The National Association ofRealtors is not only the largest real estate lobbying force on Capitol Hill,but one of the largest lobbying groups period.
Why should this matter to you? Because this very large and vocal group is fighting on yourbehalf to ensure that issues like real estate tax deductions remain intact.
2.) A trade association of more than 1 million members, NARfunctions in part as a regulator of the brokerage industry, setting the rules (forexample) for how brokers use Multiple Listing Services.When I list your home for sale, it is likely done through a multiplelisting service (locally this would be the Garden State Multiple ListingService or GSMLS.com).
Why should this matter to you? Before the creation of NAR,real estate was a highly unregulated industry with customers being takenadvantage of by unethical sales agents. Now all REALTORS must abide by our Codeof Ethics. If they are found to be in violation of these ethics their licensescan and will be suspended and/or revoked.
3.) According to an analysis from theCenter for Responsive Politics, NAR spent more than $64 million on lobbying activities, on behalf ofour clients and our industry’s interests, in 2016. The second most ofany group in ANY industry.
Whyshould this matter to you? Whenlocal issues arise, like proposed changes to requirements for constructionpermits or CCU documentation, we have one of the largest voices advocating onyour behalf.
4.) Real estate plays a critical rolein the Gross Domestic Product (GDP) of our country in two ways: through moneyspent on residential investment and on housing services. Construction,including that of manufactured housing, remodeling, and the fees charged byreal estate brokers, are all components of residential investment. Money spenton rent and utilities are what make up the portion known as housing services. In 2016, real estatecontributed $1.2 TRILLION to the country’s economic output, which is 6% of theUS GDP.
Whyshould this matter to you? Realestate is more than just “home”. Homeownership is THE American Dream. Homeownership and real estate impacts every aspectof our national economy.
5.) Lawrence Yun, NAR’s ChiefEconomist will be speaking at “Mid-Year” and will provide REALTORS with thelatest information on economic activity, employment and monetary policy, with an eye on theoutlook for the remainder of 2017.
Whyshould this matter to you? I planto be there, front and center, so that I am educated and up to date on what isnext on the horizon for our local market.
6.) As part of the week in DC,REALTOR members are given the opportunity to meet with their state Senators andRepresentatives on Capitol Hill. This year we will be discussing: tax reform,national flood insurance and protecting sustainable housing.
Whyshould this matter to you? Theseare allkey issues for New Jersey homeowners and I plan to take full advantage ofthis unfettered access to our local representatives to make sure that issues affectingour local market are addressed.
I fullyrealize that each real estate transaction for each of my clients is a verypersonal and emotional process for them, so these bigger picture issues may notseem to come into play when I am representing you in the sale or purchase ofyour home. However, as a professional REALTOR, I understand that the largerissues of our industry have an impact on our local market. Taking the time toattend this conference in person is a no-brainer to me. I want to have thisknowledge so that I can be the best, most educated representative for myclients.
Are youworking with another agent? Are THEY a REALTOR? Are they attending Mid-Year?Not sure. Maybe you should find out.