FROM THE DESK OF THE CEO: HGAR Contingent Briefed on Commission Settlement, Legislative Priorities at NAR Meetings in Nation’s Capital

Last week, HGAR leadership and members participated in the whirlwind that is the National Association of Realtors Legislative Meetings in Washington, DC.

As usual, the meetings include governance meetings, special programming and sessions, visits with legislators and networking. The association executives, multiple listing service sessions, the legislative update, and many of the event’s programming focused on the commission lawsuit settlement, as expected.

Despite the fact that questions remain about the implementation of the settlement, I was impressed with the level of information that was circulated and the palpable positive energy and sentiment throughout the week. The resiliency of Realtors and their passion for advocacy remains evident, powerful and inspiring.

Hill visits returned to a semblance of what they were before the pandemic. HGAR Political Coordinators representing our entire jurisdiction and government affairs staff coordinated impactful meetings with their assigned elected officials and communicated our legislative priorities in an effort to advance homeownership for all, including:

• Updating America’s tax law to increase access to homeownership by addressing housing affordability that starts with adding to the nation’s severely limited inventory.
• More Homes on the Market Act (HR. 1321) to decrease the equity penalty and incentivize more long-term owners to sell homes.
• Neighborhood Homes Investment Act (S. 657/H.R. 3940) to attract private investment to build and rehabilitate owner-occupied homes.
• Preserving the 199A qualified business income deduction and keeping taxes on business income lower for independent contractors and pass-through business owners.
• Support commercial real estate investment by preserving 1031 like-kind exchanges.
• Incentivize homeownership by increasing the $10,000 cap on the state and local tax (SALT) deduction and eliminating the marriage penalty.
• Ensure equal access to professional representation and support fair housing.
• Ensure veterans maintain access to professional representation and can compete in the market by allowing VA buyers to compensate their broker directly.
• Cosponsor the Direct Seller and Real Estate Agent Harmonization Act (H.R. 519) to ensure real estate agents maintain their independent contractor status under the Fair Labor Standards Act (FLSA).
• Cosponsor the Fair and Equal Housing Act (H.R. 4439) to add sexual orientation and gender identity as protected classes under the Fair Housing Act.

Elected officials recognize the value and power of Realtors and the real estate industry, which represents 16% of the U.S. GDP, supports 2.8 million jobs, and generates $50 billion in tax revenue nationwide. These Realtor champions are receptive to our priorities and willing to meet with us and support our issues.

HGAR is proud to work on these issues to advance homeownership, protect property rights, and protect our members’ business.

For more information on Realtor legislative priorities, please visit HGAR.com.