Suburban West REALTORS Association
SPECIAL
EDITION—WEEKLY NEWS SERVICE
May 16,
2005
Phone
610-560-4800 • Fax:
610-560-4801 • Assn. of REALTORS
School
Phone 610-560-4900 • RLA Phone:
610-981-9000
Remember to visit http://www.suburbanwestrealtors.com
for: information on member services, news and useful links, community
resources, the Association of REALTORS
School and to search for
REALTOR and Affiliate Members.
NEW INFORMATION
¨
Report
on the National Association of REALTORS Mid-Year Meetings—Last
week, more than 9,000 REALTORS, Association Executives and staff attended the
NAR Mid-Year Meetings and Expo in Washington
DC. NAR convenes two large meetings a year to
provide members a unique opportunity to: network with members from across the United States;
learn the latest information to enhance your professional development; and to take an active
role in legislative issues affecting the real estate industry. Last week’s event provided a tremendous
opportunity for members and staff to learn about the pressing national issues
and to make the REALTORS voice heard on Capitol Hill. The following is a brief recap of the
meetings.
Important Speakers & Hill Visits
- President Bush
Addresses REALTORS—On Friday, May 13,
President Bush graciously agreed to address the attendees to the
Conference on myriad issues. While
the bulk of his speech regarded his plan to reform Social Security, he also
referenced the critical role of the housing industry to the improving
economy and, subsequently, the importance of REALTORS to its success. President Bush also indicated his
support of REALTOR issues like continuing the mortgage interest deduction
in the tax code, his administration’s single-family tax credit
legislation, and his desire for small business owners and independent
contractors to have access to affordable health care. His remarks were enthusiastically
received by the audience of more than 4,000 members. For more detailed information on his
speech, please click here.
- Senator Jim
Talent (R-Mo.), Representative Michael Honda (D-Ca.) and Assistant
Secretary Craig Manson Speak At Meetings—In
addition to President Bush’s general speech on Friday, a number of other
government officials presented to attendees through the week on specific
topics. Senator Talent spoke to the
membership on Tuesday, May 10 about the Small Business Health Fairness Act
legislation which he is lead sponsor on.
This important bill would allow Associations, like NAR, to broker
on behalf of its agents for affordable health care coverage (more info here). Representative Honda provided the
keynote address during the HOPE Awards Minority Housing Symposium sharing
his own family’s struggle to achieve homeownership (more info here). Lastly, Assistant Secretary Craig Manson from the Fish,
Wildlife and Parks U.S. Department of Interior encouraged REALTORS on
Tuesday to continue pressing Congress for amendments to the Endangered
Species Act (more info here).
- Suburban West
REALTORS Association Members Visit Pennsylvania Representatives and
Senators—On Wednesday and Thursday, a
contingent of Association members attending the meetings met with local
Representatives and Senators on the major national issues affecting
REALTORS and the industry (listed below).
The visits included meetings with Congressmen Joseph Pitts, Curt
Weldon, and James Gerlach , and the staff for Senators Arlen Specter and
Rick Santorum. These meetings
allowed the REALTORS to speak openly about the issues and to reiterate
their importance to the 4,300 REALTOR members in Chester,
Delaware counties and the Main Line.
The visits were coordinated by the REALTORS Legislative Alliance
and featured the following members: Dave Brant, Heidi Bulitta, Betsy
Cardone, Dominic Cardone, Brian Kane, Guy Matteo, Carolyn Sabatelli and
Bud Tyson. Also in attendance were
staff members Anne Marie Matteo,
Mike McGee and Steve Farace.
For pictures of the visits, please click here.
The Primary Issues
- Department of
Justice Investigation--A day before the meetings
started last week (Monday, May 9), an article appeared in the Wall Street
Journal indicating that the Department of Justice was very close to suing
NAR for violation of anti-trust laws based on an Association policy that
was due to go into effect on June 1.
This NAR policy suggests that brokers are allowed to withhold
listings from Virtual Office Websites (VOW) if they so choose. This issue was very prevalent during the
meetings and was addressed by NAR President Al Mansell and Executive
Director Terry McDermott throughout the four days. In brief, the article overstated the
DOJ/NAR rift. While the DOJ is
concerned about this issue, they are engaging in ongoing negotiations with
NAR about possible changes to the policy.
NAR does steadfastly support its position on VOW’s and is willing
to fight for it, but also is open to minor changes if need be. In an act of good faith, NAR did delay
the implementation of the policy to January 1, 2006. For more detailed information on this
ongoing story and updates, please click here.
- Banks In Real
Estate Legislation—One of the most significant
issues that could affect the real estate industry is the potential of
banks being permitted to enter into the real estate industry. NAR vehemently opposes this and fully
supports legislation (Community Choice in Real Estate Act) that would
prohibit them from entering into real estate. Opponents suggest that the real estate
industry is not competitive and that allowing other industries like banks
would be better for the consumer.
NAR disagrees with this assessment, believing that 1.2 million
individual agents equates to the industry already being one of the most
competitive in the nation.
Furthermore, NAR is concerned that huge national banking
conglomerates by virtue of their federal charter would have an unfair edge
against REALTORS. For more
information on this issue, please click here.
- Small Business
Health Plans—As mentioned earlier, another hot
button issue for REALTORS that was discussed with legislatures was the availability
of affordable health care to small businesses and independent
contractors. In 1996, 13% of
REALTORS had no health insurance, that number is now close to 30%. And for many others, the costs for
individual coverage is tremendously high.
Currently, there are restrictions in states, like Pennsylvania, that prohibits an
organization like the Pennsylvania Association of REALTORS to broker an
insurance plan for its members let alone on a national level. The Small Business Health Fairness Act
would permit national associations the same advantage that unions
currently have for their members and allow an organization like NAR to
broker a plan for its 1.2 million members that would undoubtedly provide
cost savings and better coverage.
For more information on this issue, please click here.
- Fannie
Mae/Freddie Mac Regulator Reform and REALTORS—As
many members are aware, both of these organizations recently had
accounting scandals that brought their business practices under further
scrutiny. While NAR does agree that
regulation is needed, there is concern that too stringent regulation could
result in these two historic housing organizations missions being weakened
and/or completely changed. NAR is
going to continue to work with legislatures to ensure that the regulator
that is eventually established limits their work to overseeing the
financial safety and soundness of these organizations. For more information on this issue,
please click here.
Other News
- Ethics Training Loophole
Closed--The
NAR Board of Directors voted on Saturday to close a loophole that had allowed
members who do not complete the Quadrennial ethics training to remain in
"suspended" status indefinitely. The new mandatory requirement
allows members to remain suspended for two months before termination. This change will go into effect for the
current Quadrennial Code of Ethics Requirement the deadline for which is
December 31, 2008. Hence, members
who do not complete ethics training during this period will be suspended
as of January 1, 2009. Failure to
complete the training by March 1, 2009 will result in termination of
membership.
- Membership growth means budget
surplus--NAR
Treasurer Michael Brodie reported that an increase in membership will
result in increased revenue to the association. Since 1999, NAR membership
has grown by 56 percent. "We're in a very healthy situation right
now," said Brodie. "We're adding new programming and increasing
funding to existing programs to add value to membership." NAR announced that there will be no increase
in NAR dues ($64) for 2006 and 2007 and no increase in special assessments
($20) for 2006. There has not been an NAR dues increase in 10 years. (NOTE.
Suburban West REALTORS Association dues have held steady for 8
years and PAR dues have also seen no increases in 10+ years).
- Upcoming Meetings—NAR will convene its 2005
REALTORS Conference and Expo from October 28 – 31, 2005 in San Francisco. More than 25,000 members attend this
increasingly popular meeting for professional development opportunities,
meeting members from across the country and to attend the largest
exposition of companies involved in all aspects of the real estate
industry. For more information,
please click here. Next May, NAR will again conduct its
Mid-Year Meetings and Expo in Washington
DC. On behalf of Suburban West REALTORS
Association, I encourage all members to consider attending even if only
for part of the session. There is
no cost to register and it provides a tremendous experience only a couple
of hours away.
OTHER IMPORTANT NUMBERS:
·
Suburban West REALTORS Association TECH HOTLINE: 800-704-7240 (email: techhotline@att.net) (8:30 am to 8 pm, Monday to Friday)
·
PAR Legal Hot
Line: 800-727-5345
(9 a.m. to 10 am & 1 pm to 3 pm, Monday to Friday)
·
Suburban West REALTORS Association: http://www.suburbanwestrealtors.com
·
SUPRA Support: 877-699-6787 (8 am to 10 pm, Everyday)