NAR's Realtor Party Political Survival Initiative

Submitted by Amanda Arwood on April 7, 2011 - 3:38pm

As you may know by now, NAR recently rolled out plans for a proposal called “the REALTOR® Party Political Survival Initiative.” In the wake of a recent Supreme Court ruling that will allow corporations to contribute unlimited funds into the political system, the NAR initiative is intended to maintain and cement REALTORS®' place among the most influential advocacy groups in America. 


The initiative is a two-year $80 million campaign through which more than 50% of the NAR budget would be allocated to political advocacy (which members consistently rank as the #1 benefit they receive for their NAR dues); two-thirds of those funds would be returned back to state and local REALTOR® associations to support local and state candidates, issue campaigns, and other local and state political advocacy efforts. The initiative would be funded by a dues increase.

 

In these difficult economic times, the proposed dues increase is proving to be a controversial funding mechanism for the initiative. At the same time, our profession is clearly confronting monumental issues -- from the mortgage interest deduction to Fannie-Freddie reform to mortgage lending processes and credit availability -- that clearly have impact on your ability to make a living in real estate.  Vigilance and well-funded political advocacy efforts are NAR’s best tools for defending your business as Congress debates these issues.

 

That’s why we encourage you to withhold judgment on the initiative until you read and hear about the benefits and rationale for the initiative. You can find more information HERE.

The proposal will be considered by the NAR Board of Directors at the Midyear Legislative Meetings & Trade Expo in mid-May in Washington, DC. In the meantime, if you’d like to offer input about the initiative, you’ll find a feedback tool HERE.

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Comments

Submitted by joe@joevita.com on April 6, 2011 - 9:50pm.

I'd like to recommend that VAR Leadership come up with a mechanism by which all state members have the ability to express their feelings about this very important and controversial matter.  Perhaps a referendum of some type can be voted on by our Delegate Body at a special meeting or, at the least, local associations can be tasked to deliver informatkon about how their membership feels about the vote at the Mid-Year Meetings so that our NAR Directors can act accordingly.  

Submitted by scott@varealtor.com on April 7, 2011 - 11:41am.

Hi Joe.  NAR's proposal is to be voted on at NAR's May 14 Board meeting in DC, so time is short. However, I'm hearing that the entire structure of the proposal, including the funding mechanism, may be in play at the moment, and so the final proposal that goes to NAR's Board of Directors may be substantively different from what's being floated currently.  Our Virginia NAR directors are gathering feedback from members via comment mechanisms like this one, and are withholding any judgment on the idea until they have full details of a final proposal.  Virginia's position will be determined at the Virginia director caucus in DC in May at the NAR Midyear Meetings.

Submitted by patmalchow@comc... on April 1, 2011 - 7:49pm.

This is the time to ask am I a realtor or an American first? Freddie and Fannie are corrupt they contributed to the economic mess we are in which has depressed our business greatly.
I have been in this business a long time and was selling real estate when rates were 18% during the Carter years. Freddie and Fannie were supposed to be part of the solution; they have given us a greater crisis. Let’s support our free market system, the private system will provide mortgages and adjust risk we do not need the government involved. VAR wants more dues to try and buy more influence, this further corrupts our system. People should put 20 % down to get a mortgage, they should pay market rates, they should only buy what they can afford, and this gives a us strong market with homeowners with skin in the game. The mortgage deduction benefits few and puts people at risk of losing their homes. Figure it out, what are you really saving in taxes vs. having a paid off home and security in retirement. A home without a mortgage is the easiest to sell. The mortgage deduction really only benefits the very rich. Ask your accountant.

Submitted by scott@varealtor.com on April 7, 2011 - 11:47am.

Thanks for expressing your opinion. To be clear, VAR is not proposing an increase in its dues.
Further, NAR and VAR research shows that the overwhelming majority of REALTORS strongly support continuation of the mortgage interest deduction and are concerned that any changes to Fannie and Freddie not be done in such a way as to affect the ongoing availability and affordability of mortgages.
Lastly, research also indicates that 65% of those who claim the mortgage interest deduction earn $100,000 a year or less.