Thousands of REALTORS® endured heavy rains to talk with members of Congress about taxes, mortgage financing, and other issues important to real estate in visits to Capitol Hill during the 2016 REALTORS® Legislative Meetings in mid-May. And at the NAR Board of Directors meeting, directors approved enhancement to association core standards that add criteria on safety, community outreach, and professional development. The board also took a stand on student loan debt by approving a policy in which NAR will support legislation that will allow borrowers to refinance their loans to make their payments more manageable.
- REALTORS® Capitol Hill Visits
- NAR Board of Directors Meeting
Get more on all the topics covered in this video:
Voice for Real Estate 46: Transcript
Board of Directors
Stephen Gasque Voice Over:
NAR's 2016 Legislative Meetings and Trade Expo bring Realtors from across America - to Capitol Hill
Thousands of those Realtors take to Capitol Hill on a rain-swept day - to talk Real Estate with Congress!
These stories and more - on the Voice for Real Estate!
Hi, I'm Stephen Gasque, with the National Association of Realtors!
What a week…for Realtors in the Nation's Capitol! Thousands of Realtors came to Washington last week, for NAR's 2016 Legislative Meetings and Trade Expo. First - the legislative meetings! Realtors crossed capitol hill, meeting with members of the house and senate…telling them home ownership, should stay a priority on Capitol Hill. Among the issues they tackled - tax reform! Flood Insurance, and 1031 like-kind exchanges.
Also, Realtors, Associations and their leadership members met all; week, to talk issues that matter to their hometowns, their states - and their businesses. Many of them also attended the Trade Expo, which features
hundreds of sponsors - helping Realtors build their
business. From major brokerages, to mortgage lenders, to
the benefits and services to Realtors mapped out in the
NAR Pavilion, it was a packed - and exciting scene, on the
At the meetings were some of our country’s most
influential voices in Washington, including Julian Castro,
secretary of the U.S. Department of Housing and Urban
Development. The secretary announced upcoming rule
changes that could make FHA-backed financing for
condominiums easier to obtain. Also at the conference?
Sen. Elizabeth Warren of Massachusetts. She came
before Realtors to discuss what she sees as a growing
threat to home ownership and to the economy.
As the week-long meeting wrapped up, the NAR Board of
Directors made important decisions. The board adopted a
policy supporting legislation that would allow borrowers to
refinance their student loan debt at lower interest rates,
something they can’t do today. They also directed NAR to
work with the lending community to standardize how
student loan debt is handled in the mortgage underwriting
process, to ensure that the way it’s handed does not hurt
The Board of Directors also acted on MLS rules
addressing copyright issues. The goal is to alert brokers
and agents about the growing legal threat they face if they
use photos and other listing data without authorization.
And in an action important to state and local associations,
the Board added to the core standards initiative NAR
launched last year. As you might know, the core standards
initiative is intended to help associations become better
resources for their members. The changes will help them
do that by ensuring associations meet certain new
requirements on safety, professional development, and
The Board also continued the $35 special assessment for
the consumer advertising campaign for three years.
Results of a member survey showed that 87% of Realtors
favor NAR's advertising program and 88% would like to
see even more advertising that advances the Realtor
And that's our show for the week of May 16. Thank you for
joining us - and if you were in Washington last week, thank
you for coming to capitol hill, to fight for homeownership
issues in the House and Senate!
You can learn more about everything we talked about
today on the Voice for Real Estate Page - on Realtor .org.
And we hope to see you again soon, as we bring you the
latest news - on the VRE.