| THE GADFLY |
| March 2018 |
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| In This Issue... |
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| Dates & Deadlines |
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 March 2: Meritorious Service Award Nomination Deadline
We are now accepting nominations from your state for the 2018 Meritorious Service Award. The deadline for submissions is March 2, 2018. Each year, NAR recognizes two outstanding Federal Political Coordinators (FPCs) for their exceptional service to the National Association of REALTORS® with this esteemed award. These recipients are the best of the best of our FPCs, those who truly believe in and advocate on behalf of the REALTOR® Party. Recipients meet a rigorous set of criteria that set them apart from other FPCs. See a list of former MSA award winners and criteria for receiving the award.
The Meritorious Service Award nomination form can be accessed on the MSA Award page of the REALTOR® Party website. For more information, please contact Victoria Givens. |
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March 15: Broker Involvement Grant Application Deadline
Use the Broker Involvement Grant to create an activity to recruit, retain, educate and engage your brokers and their agents in building a culture of advocacy. Examples of possible activities include a broker event, marketing materials or broker advocacy messaging. The first quarter deadline is March 15, and applications are available here. State and local associations may apply for one Broker Involvement Grant of up to $5,000 annually. For more information, please contact Caroline Stewart. |
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March 22: RPAC Training Webinar for Local RPAC Chairs
Have a new local association RPAC Chair who could use fundraising tips and training? Help us spread the word that RPAC Fundraising Trustees Chair Leigh Brown will be hosting a webinar to discuss RPAC fundraising basics and best practices, including how to ask colleagues to invest and how to recruit Major Investors. This interactive webinar will be held Thursday, March 22 at 3:00 PM EST. Local RPAC Chairs can register here. For more information, contact Liz Demorest at 202-383-1030. |
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March 23 Conference in Arlington, VA: “Money Laundering in Real Estate: How is it done? How can we stop it?”
Sponsored by George Mason University’s Terrorism, Transnational Crime and Corruption Center, NAR is participating in an all-day conference featuring policy makers, law enforcement, academia, financial institutions, and other real estate sector representatives to better understand money laundering in real estate and how to counter the impact. Registration is free and lunch is included. For more information and how to sign up, see this link. |
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| Federal Advocacy Resources |
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Federal Issues Tracker: Get NAR’s Positions on Legislative and Regulatory Issues
Did you know the Federal Issues Tracker is an online database which provides user-friendly access to NAR’s positions on legislative and regulatory policy activities affecting all aspects of residential and commercial real estate? Get weekly legislative and regulatory updates from NAR’s policy staff, view the current status of a bill, and much more. To access the tracker and to learn more about its features and resources, please go to https://www.nar.realtor/political-advocacy/nars-federal-issues-tracker or contact Bira de Aquino or John DiBiase. |
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ADA Reform Act
H.R. 620, the ADA Education and Reform Act, passed the House by a vote of 225-192 on Feb. 15. This bill adds a crucial notice-and-cure provision to the Americans with Disabilities Act (ADA), to resolve the issue of abusive “drive-by” lawsuits against commercial property owners, an issue that commercial members ranked third in the 2018 public policy survey. NAR sent a letter of support to the full House, conducted a commercial-targeted call for action on the vote, and worked with the FPCs and state associations on outreach to their members. For more information, contact Erin Stackley at 202-383- 1150. |
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Assistance Animals
NAR and IREM are working with HUD and disability rights organizations to provide some clarity regarding assistance animals and fair housing requirements for reasonable accommodations for people with disabilities. Specifically, we are looking for guidance on the types of documentation used to support a request for an assistance animal as well as determining a reasonable number or type of animal(s) in a unit. For more information, contact Megan Booth at 202-383-1222. |
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Climate Change Briefing
Insurance Committee Chair Brandi Gabbard (FL) has been invited to participate on a March 6 roundtable organized by Rep. Charlie Crist (D-FL). The panel will also include a building-code/floodplain manager, insurance agent and environmental advocate, and will focus on the potential, future impact of sea level rise on coastal communities and property owners. Staff will be holding the first of two briefings for Chair Brandi on Feb. 27, followed by a second one on the day of the panel. For more information, contact Austin Perez at 202-383-1046. |
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GSE Reform (Housing Finance Reform)
Senators Corker (R-TN) and Warner (D-VA) are currently drafting a secondary mortgage market reform bill. According to a leaked memo, their plan calls for multiple guarantors to replace the functions of Fannie Mae and Freddie Mac. NAR staff have been meeting with Senate Banking Committee members to articulate NAR’s concerns with a multiple guarantor model, which among other provisions will likely result in less readily available mortgage credit. While legislation may be introduced this year, enactment of comprehensive housing finance reform is very unlikely. For more information, contact Vijay Yadlapati at 202-383-1090. |
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Mortgage Choice Act Approved by the House
On Feb. 8, 2018, the U.S. House of Representatives approved H.R. 1153, “The Mortgage Choice Act” by a vote of 280-131. The bill makes adjustments to the Truth in Lending Act (TILA) definition of points and fees under the Ability to Repay/Qualified Mortgage (QM) rule. Currently, the QM rule requires mortgage bankers/brokers and affiliated companies to count more items as fees and points than do large retail financial institutions when determining if a mortgage is a QM, putting smaller firms at a competitive disadvantage. Senate passage will be more challenging. For more information, contact Marcia Salkin at 202-383-1092. |
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National Flood Insurance Program (NFIP)
The Bipartisan Budget Act of 2018 extended the NFIP to March 23, 2018 and made significant investments in mitigation and storm resiliency efforts for areas impacted by last year’s natural disasters. During the interim extension period, NAR will continue to encourage Congress to pass comprehensive NFIP legislation that provides a five-year reauthorization and reform of the program. For more information, contact Austin Perez at 202-383-1046. |
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Net Neutrality
After the Federal Communications Commission’s rollback of net neutrality rules, NAR is working with Congress to introduce and pass legislation that will codify sensible net neutrality rules to protect our members’ ability to access consumers online. For more information, contact Melanie Wyne at 202-383-1234. |
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Pass-Through Tax (Regulatory Guidance for New Tax Law)
The new tax law was generally effective as of Jan. 1, 2018. The majority of NAR members are independent contractors who must pay estimated tax payments for the 2018 tax year very soon. Consequently, guidance on areas of the new tax law that are unclear is urgently needed within the next few weeks or months, especially on the 20% deduction for Qualified Business Income for sole proprietorships and pass-through entities. We will be seeking opportunities to weigh in with the Treasury Department and IRS to urge quick and positive rules for our members. For more information, contact Evan Liddiard at 202-383-1082. |
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Tax Extenders (Extension of Several Expired Tax Provisions Affecting Real Estate)
The recent Bipartisan Budget Act of 2018 extended several dozen expired tax provisions. The most important real estate provision is the retroactive but temporary reinstatement of the exclusion from income of forgiveness of mortgage debt in connection with a personal residence. This means that homeowners who had mortgage debt discharged in 2017 in a short sale or a deed in lieu of foreclosure transfer will not pay the tax on the “phantom” income. Also reinstated for the 2017 calendar year is the deduction for mortgage insurance premiums, the energy efficient commercial buildings deduction, and several incentives to increase home energy savings. For more information, contact Evan Liddiard at 202-383-1082. |
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| State and Local Advocacy Resources |
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New Resource for Fair Housing Act Commemoration
Showcase Stories, a collection of stories from associations, REALTORS® and partner organizations illustrates the importance of fair housing in our industry and our communities, is now available. Stories include examples of local fair housing history and champions; REALTORS®’ personal experiences with fair housing; and descriptions of association’s commemoration activities. New stories added monthly. Submit an idea and we will contact you to finalize the story. For more information, contact Wendy Penn at 202-383-7504. |
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State Issues Tracker: Appraisal Management Companies (AMC)
Five states (Maine, New Jersey, Rhode Island, South Carolina, and Wisconsin) enacted AMC registration/certification laws, bringing the total number of jurisdictions with such laws to 45. Additionally, a registration law introduced in Hawaii in 2017 was carried over to 2018, but not yet passed as of mid-Feb. Registration fees for AMCs range from $125 (Vermont) to $5,000 (Minnesota). For more information, contact Adriann Murawski at 202-383-1068. |
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State Tax Reform Update: 179 Deduction and Section 199A
Since the Tax Cuts and Jobs Act passed, estimates vary on the impact of revenues to states. Of particular significance to state REALTOR® Associations there are two deductions that will impact member businesses, the 179 and new 199A deductions. These two provisions are particularly susceptible to political negotiating at the state level. NAR will continue to provide resources on state tax reform measures. For more information, contact Adriann Murawski at 202-383-1068. |
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GAD HUB
A reminder that, like NAR committees, state and local GADs are now using the GAD HUB for sharing policy and political issues important to our industry. The HUB is set to send you “Daily Digest” emails. If you are not receiving Daily Digest emails, please check your “clutter or spam” folders and move them to your “Inbox” to train your system. Then please take a moment to log in, via your computer, to indicate to us that you are receiving the messages. Please contact Kyle Lambert London for additional assistance. |
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REALTOR® Party New Member Orientation Materials – UPDATED FOR 2018
The REALTOR® Party New Member Orientation supplements the existing NAR Orientation Toolkit for associations, but focuses solely on the importance of the REALTOR® Party for members and the real estate industry. Just press “play” and leave the story telling to us! Questions? Contact Kyle Lambert London. |
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| RPAC News |
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REALTOR® Party Corporate Ally Program
Did you know that the REALTOR® Party Corporate Ally Program (CAP) investments helped fund 41 state and local issues campaigns in 2017? Do you know that CAP investments to issues can help defray up to 100% of a state or local association’s skin in the game requirement? Do you know that hosting a CAP fundraising event can help meet a Core Standard requirement? To learn more about CAP’s mission to preserve sustain and promote an environment conducive to buying, selling and owning property, contact Paula Martino at 202-383-1156. |
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2018 President’s Circle Rounds and Deadline
The President’s Circle launched its second round for 2018 today, consisting of six REALTOR® Champions. The third round will launch April 2, and will consist of the National Party Committees and FPC’s direct contribution to their respective Member of Congress. The deadline for President’s Circle members to invest their first $500 is May 31, 2018. For more information, contact Kelly O’Donnell at 202-383-7510 or Kanoa Naehu at 202-383-1268. |
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RPAC Hall of Fame Class of 2017
194 REALTORS® will be inducted into the 2017 RPAC Hall of Fame Class during the REALTORS® Legislative Meetings & Trade Expo! The RPAC Hall of Fame Induction Ceremony is open to all. Please plan to come cheer on your members as they receive this prestigious honor! The ceremony will be held Wednesday, May 16, 2018 from 6:30-7:30 PM in the Marriott Wardman Park Hotel. Click here to view the 2017 RPAC Hall of Fame roster. For more information, contact Jackie Zaporowski at 202-383-1029. |
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Deadline for RPAC Major Investor Recognition
Make sure you and your members are recognized as RPAC Major Investors in time for the 2018 REALTORS® Legislative Meetings & Trade Expo in Washington, DC. All RPAC investments must be submitted to the NAR Finance Office no later than Wednesday, April 18, 2018 to meet this deadline. Click here for more information or contact: Jackie Zaporowski at 202-383-1029. |
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Save the Date: RPAC Fundraising Awards Ceremony
Be sure to save the date for the 2017 RPAC Fundraising Awards Ceremony on Wednesday, May 16, 2018 from 4:30-6:00 PM in the Marriott Wardman Park Hotel. Join us to cheer on your association and celebrate a successful 2017 RPAC fundraising year! View President’s Cup and Triple Crown Award details. For more information, contact Jackie Zaporowski at 202-383-1029. |
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| NAR’s Economic Outlook |
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Existing-Home Sales Slip 3.2 Percent in January - Existing-home sales slumped for the second consecutive month in January and experienced their largest decline on an annual basis in more than three years. |
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REALTORS® Confidence Index - REALTORS® report “low inventory” and “interest rate” as the major issues affecting transactions in January 2018. |
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Existing-Home Sales – The information in this interactive map shows you price and sales data for the month, and lets you compare it to prices and sales over the previous 12 months. |
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Commercial Real Estate Outlook - This quarterly report, released for the first quarter of 2018, covers the economic conditions underpinning current commercial real estate markets and presents trends in market fundamentals, investments, and financing. |
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For more information on NAR’s Economic Outlook, contact Meredith Dunn at 202-383-1207 |
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Message from the GAD Chair
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Cady Thomas
GAD Chair
North Carolina Association of REALTORS® |
I see you — those of you not keeping GAD Nation #AlwaysGreat (See February GADFly) out there. What, me, you ask? YEAH YOU!
Every one of you that has not yet submitted applications to serve on NAR committees. You only have until May 1, which is before the REALTORS® Legislative Meetings in Washington, DC, so we will all know. Check out tips on serving and signing up from the last GADFly.
Speaking of the REALTORS® Legislative Meetings, we are getting excited to see all your smiling faces and ALL your members. There you will learn about the $30 dues increase. Learn how it will change, modify and expand REALTOR® Party Resources before arrival and reach out with questions.
We will have our Hill Visits and Legislative Receptions and of course, our regular meetings. We are also planning a great professional development session. We will share specifics of this and the GAD Reception on The HUB.
What is the HUB? Busted again slackers! The HUB is our new communication tools and will replace of email correspondence for all advocacy issues and meeting information. Get on it today and turn on immediate GAD notifications. I did, and receive less than one a day.
Who else is excited that the left and right hands are talking to each other? With all of Advocacy back under one “roof,” our team will be ready to rock and roll on all things political led by Bill Malkasian.
Since we are in the political season, do not forget about the Campaign Independent Expenditure Funds available to your associations. If you are not using your money, someone else (ok I) will. Contact John Winston or Gerry Allen today!
Now get out there and be #AlwaysGreat! I cannot wait to celebrate your successes in DC in just five weeks!
Best,
Cady
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REALTOR® Action Center! |
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SAVE THE DATE
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