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Flood Insurance, Tax Reform Top Issues as Realtors® Head to Washington

WASHINGTON (May 16, 2017) – Nearly 9,000 Realtors® and industry guests are descending upon Washington this week to address regulators and members of Congress on key industry issues, including national flood insurance, tax reform and sustainable homeownership.

Realtor® members will visit U.S. House and Senate offices to urge Congress to pass a multiyear reauthorization of the National Flood Insurance Program before it expires on September 30. Additionally, Realtors® are seeking to protect sustainable homeownership by advocating for responsible reform of the secondary mortgage market, prohibiting the use of mortgage guarantee fees for any purposes other than credit-risk management and improving consumer protections for energy efficiency improvement loans.

Realtors® will also be reminding legislators that while Realtors® support tax reform, it cannot happen by diminishing the real estate tax provisions that are an essential component of a vibrant housing market and key driver of the economy.

During the meeting, attendees will also be participating in a series of on-site visits with regulatory agency staff at the Federal Aviation Administration, Federal Emergency Management Agency, U.S. Department of Treasury and the U.S. Department of Veterans Affairs.

 “With a new president and Congress in office, it’s vitally important for regulators and policymakers in Washington to hear from the nation’s Realtors® about issues affecting their businesses, communities and clients,” said National Association of Realtors® President William E. Brown, a Realtor® from Alamo, California and founder of Investment Properties, a division of his family real estate business. “Robust commercial markets and helping more Americans achieve the dream of homeownership are things we believe strongly in protecting, which is why we are here this week engaging with our senators and representatives and making our voices heard.”

This year’s meeting, which kicks off today and runs through Saturday, May 20 will also feature nearly 100 conference sessions on hot topics that range from policy to technology. Conference attendees will hear from industry experts and thought leaders, including:

  • Mark Calabria, chief economist to Vice President Mike Pence, who will discuss the market and potential administration changes and their effect on housing.
  • Dr. Ben Carson, secretary, U.S. Department of Housing and Urban Development, who will talk about access to mortgage credit and his priorities for the Federal Housing Administration.
  • John Worth, senior vice president for Research and Investor Outreach, National Association of Real Estate Investment Trusts, who will share the perspectives of publicly listed companies on current developments in commercial markets.
  • Roy Wright, deputy associate administrator for Insurance and Mitigation, Federal Emergency Management Administration, who will discuss the NFIP benefits provided to millions of home and business owners.
  • Lawrence Yun, NAR chief economist, who will share residential and commercial real estate market updates and forecasts.  

Recognizing those who play a role in making the Realtors® Political Action Committee among the largest and most bipartisan contributor to candidates, 143 Realtors® will be inducted into the RPAC 2016 Hall of Fame, which recognizes members whose aggregate RPAC investments are at least $25,000. The 2016 class is the largest ever and includes a member who has invested $150,000, the highest in RPAC’s 48-year history. Hall of Fame inductees were recognized onstage during the meetings with a plaque and lapel pin and will have their name inscribed on the Hall of Fame placard on the rooftop of NAR’s D.C. headquarters. The list of 143 inductees is available at www.realtoractioncenter.com/rpachof.

The legislative meetings coincide with Realtors® Advocacy Month, designed to engage and educate Realtors® to vote, act and invest in advocacy issues at all levels of government. Throughout the month of May, state and local associations of Realtors® are sharing their candidate and issue campaign successes, holding voter registration drives or community outreach events, and educating members on issues important to the industry, markets and consumers.

The meeting trade expo will be open Wed., May 17 and Thur., May 18 from 10 a.m.-6 p.m. More than 100 industry-leading companies will demonstrate the latest real estate products and services.

To stay connected with the conference follow the Realtors® Legislative Live blog, live.blogs.realtor.org/, the Twitter hashtag #narlegislative, or find NAR at @nardotrealtor on Facebook and Twitter.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

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