National Association of Realtors(r) Outlines Goals and Progress in Advocacy Efforts

Strategic Insights -

National Association of Realtors(r) Chief Advocacy Officer Shannon McGahn emphasized the importance of maintaining relationships across party lines in real estate policy-making, citing the advocacy team's modernization efforts and successes with Congress. McGahn highlighted achievements, including the government funding bill, SECURE Notarization Act, and regulatory wins, while outlining four key goals for 2023: developing public policy roles and solutions, engaging with members, modernizing advocacy efforts, and promoting NAR products. A panel discussion featuring experts in real estate policy discussed the inventory crisis, tax incentives, and the racial homeownership gap, with NAR's Dr. Jessica Lautz citing a 40-year-low in first-time homebuyers and Alexia Smokler highlighting the need for increased funding for HUD fair housing enforcement programs and affordable housing.

Key Takeaways:

  • The National Association of Realtors(r) has modernized its advocacy efforts to achieve its goals, including supporting policies and policymakers in the real estate industry.
  • Key goals for 2023 include developing public policy roles and solutions, engaging with members, modernizing advocacy efforts, and promoting NAR products.
  • The advocacy team aims to remain nimble and maintain relationships across the aisle to address divided country issues.
  • The "all the above" policy team discussed the inventory crisis, tax incentives, and the racial homeownership gap in real estate policy.
  • Statistics:

+ The number of first-time homebuyers is at a 40-year-low, according to Dr. Jessica Lautz.

+ The racial homeownership gap is bigger today than it was in 1968, according to Alexia Smokler.

+ The National Association of Realtors(r) has a membership of over 1.5 million real estate professionals.

+ The racial homeownership gap is alarming, with LLC citing that it is "actually bigger today than it was in 1968."

+ NAR's research, Obstacles to Home Buying, shows that the gap in homeownership rates between white and minority populations has not improved since 1968.

  • The Advocacy Scoop, a press release from the National Association of Realtors(r), provided an inside take on real estate issues in Congress.
  • According to the press release, NAR's advocacy team is composed of experts with wealth of real estate policy knowledge, including Bryan Greene, Evan Liddiard, Dr. Jessica Lautz, and Alexia Smokler.
  • The advocacy team has achieved successes with Congress, including the government funding bill, SECURE Notarization Act, and regulatory wins.

Statistics:

  • First-time homebuyers are at a 40-year-low, according to Dr. Jessica Lautz (2023)
  • The racial homeownership gap is bigger today than it was in 1968, according to Alexia Smokler (2023)
  • The National Association of Realtors(r) has a membership of over 1.5 million real estate professionals (2023)
  • NAR's research, Obstacles to Home Buying, shows that the gap in homeownership rates between white and minority populations has not improved since 1968 (2023)

Sources:

  • National Association of Realtors(r), "Closing out the second day of the 2023 REALTORS(r) Legislative Meetings" (2023)
  • National Association of Realtors(r), "Advocacy Scoop, A Press Release from the National Association of Realtors(r)" (2023)