Realtor® Advocacy Wins

Your Realtor® Advocacy team works tirelessly to protect the real estate industry. Although not an exhaustive list, check out recent victories that Realtors® can be proud of, including legislative, executive and judiciary branch wins.  

Affordable Housing - Realtor® Advocacy Wins

Affordable Housing Programs:

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Rural Housing

State and Local Fiscal Recovery Funds:

Agency Confirmations - Realtor® Advocacy Wins

FHA Commissioner

FHA Director

Anti-Money Laundering - Realtor® Advocacy Wins

Beneficial Ownership Rule

FinCEN Funding

Commercial Real Estate - Realtor® Advocacy Wins

Adaptive Reuse Bills

EB-5 Regional Center Program:

Energy Efficiency - Realtor® Advocacy Wins

New Energy Efficiency Tax Credit and Rebate Programs for Property Owners

Fair Housing - Realtor® Advocacy Wins

Increased Funding

Federal Tax - Realtor® Advocacy Wins

Inflation Reduction Act

Flood Insurance - Realtor® Advocacy Wins

Disaster mitigation and flood mapping

National Flood Insurance Program

Housing Finance and Assistance - Realtor® Advocacy Wins

Homeless Assistance Program

Housing Counseling

LIBOR Transition

Rental Housing - Realtor® Advocacy Wins

CARES Act Notice-to-Vacate Requirement:

Emergency Rental Assistance Program (ERAP)

Rental Assistance Funding

Violence Against Women Act

Small Business - Realtor® Advocacy Wins

SBA Programs

State and Local - Realtor® Advocacy Wins

Rent Control

Student Loan Debt - Realtor® Advocacy Wins

Fixes to Existing Programs

Relief for Borrowers at Fraudulent For-Profit Institutions

Technology - Realtor® Advocacy Wins

Broadband Funding

SECURE Notarization Act

Transportation and Infrastructure - Realtor® Advocacy Wins

Bipartisan Infrastructure Framework Funding

Coming soon: Brand New NV/RPAC Live from Richmond Series!

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Government Affairs Blog

VA Signals Temporary Suspension on Buyer Agent Payment Ban

May 22, 2024, 13:12 PM by Grace Parr
Official says the Department of Veterans Affairs will temporarily allow VA buyers to directly compensate their agent.

 

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This is a huge win for Realtor® Advocacy, especially in Northern Virginia where VA Loans are used in 11% of all sales and have accounted for $2.7 Billion in sales volume in 2023 and 2024. Your RPAC Dollars at Work!

Learn more about Realtor® Advocacy Wins here.

 


 

The Department of Veterans Affairs plans to temporarily lift its ban on buyers directly paying for professional real estate representation until the agency deems it necessary to engage in a formal rulemaking process, a VA official said Tuesday at a Mortgage Bankers Association conference in New York.

Although not an official announcement, the comments from VA Deputy Director of Policy Michelle Corridon were met with relief from the real estate industry, as the VA's home loan guaranty is the only loan program with this explicit prohibition. Veteran buyers have limited options in situations where the seller makes no offer of compensation to the buyer's agent, potentially leaving veterans without professional representation or forcing them to switch to less favorable loan products.

"NAR launched an all-hands advocacy effort on this issue, meeting with VA officials, engaging with lawmakers and rallying our industry partners to ensure this prohibition was lifted," says Shannon McGahn, chief advocacy officer at the National Association of REALTORS®. "This is also a testament to the thousands of REALTORS® who came to Washington just a few weeks ago with a unified message. Without this change, thousands of veteran buyers could be denied access to professional representation in their pursuit of the American Dream of homeownership. Taking this extra step ensures veterans have the same opportunity as others to compete in a tight housing market. We applaud the VA for recognizing this danger and acting swiftly to protect veterans."

 


The information above was pulled from the National Association of REALTORS® blog. See the original here.