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Realtors have a lot to focus on in Washington, D.C.


Florida Realtors PAC

Florida Realtors PAC isn’t Republican; it isn’t Democrat; it doesn’t represent the independent voter; it doesn’t buy votes. It’s simply a strong voice – and sometimes the only strong voice – fighting for Realtors and homeowners. Learn more.

KINGSPORT, Tenn. – July 19, 2017 – Hagan Stone's job is to follow the money and raise it as well. Stone, chairman of the National Association of Realtors' (NAR) Political Action Committee (RPAC), recently told the Northeast Tennessee Association of Realtors (NETAR) that all Realtors have to stick together.

"We're all together on the same ship," he said during a breakfast event held at the MeadowView Marriott. "We have to be sure that we can still work for our clients and customers and help them make decisions to include us in their lives. If we don't do that, we're finished. No one is going to protect our industry if we're not up to it."

Stone, who is a Nashville Realtor, recently returned from a lobbying trip with local Realtors to Washington, D.C., where they were assured the mortgage interest deduction will survive budget cuts another year and that the National Flood Insurance Program would be renewed, even if it would be a temporary renewal.

During the trip, he and the local NETAR delegation also expressed their position that government-supported enterprises like Freddie Mac and Fannie Mae need to continue offering 30-year mortgages to help sustain economic growth.

"We knew no matter who won the (presidential) election that it would be (about) taxation and how that will affect homeowners and property owners across the United States. … the mortgage interest deduction that has been in the tax code for over 100 years … we're fighting to preserve that so homeowners can have that benefit of homeownership when it comes to their tax deductions annually," Hagan noted.

That mortgage interest deduction, according to RPAC, saves more than $24,000 per home sale and would cost each Realtor an average of $22,420 if it were eliminated. Those numbers were calculated based on an anticipated 15 percent reduction in home prices and 33 percent drop in sales.

Realtors, Stone pointed out, still remember the 2008 financial crisis that "slashed our tires" and made the real estate industry take notice that it needs to be more politically active.

Stone encouraged NETAR members to make the minimum $15 investment in RPAC to help elect real estate-friendly candidates at the federal, state and local levels.

"We're the envy of every trade association in the country," Stone stressed. "That ($15) is a very minimal number. You could buy two meals at McDonald's with that. You could buy two cups of coffee at Starbucks."

Copyright © Sandusky Newspaper Group, Kingsport Times-News, 2017, Hank Hayes. All rights reserved.  

Related Topics: NAR, RPAC