National –
Columbus REALTORS® Advocate on Capitol Hill
- This week Columbus REALTORS® members and staff attended the National Association of REALTORS® annual Legislative Hill Visits in Washington, D.C.
- Members met with U.S. Senator Jon Husted and staff from Congresswoman Joyce Beatty and Congressman Troy Balderson’s office.
- Top REALTOR® priorities included:
- Support the More Homes on the Market Act to decrease the equity penalty and incentivize more long-term owners to sell their homes;
- Support the Revitalizing Downtowns and Main Streets Act to incentivize the conversion of underused commercial properties into residential and mixed-use housing;
- Support the Association Health Plans Act to provide REALTORS® with access to high-quality, affordable health insurance; and
- Thanking our members for their support of the 21st Century ROAD to Housing Act – see below
ADVOCACY WIN! NAR Applauds Senate Advancement of Bipartisan 21st Century ROAD to Housing Act
- While we were in D.C. we learned that the U.S. Senate passed the ROAD to Housing Act, legislation that will accelerate housing production and improve affordability by modernizing outdated housing programs, reducing regulatory barriers, and increasing flexibility for local communities.
- This was a long-time ask of our members of congress and it passed in the Senate this Tuesday in an 87-8 Senate vote
- The legislation now heads to the President’s desk to be signed into law.
NAR Supports USDA Proposed Rule Excluding Real Estate Commission Fees from Seller Commission Cap
- NAR recently submitted comments supporting a U.S. Department of Agriculture (USDA) proposal that would exclude real estate commission fees from the cap on seller contributions in its Single Family Housing Guaranteed Loan Program, which backs home loans for low- and moderate-income buyers in rural areas.
- Under the program, a seller is permitted to contribute up to 6% of the sales price toward a buyer's closing costs, escrow, and other expenses. Real estate commission fees that a seller pays on the buyer's behalf used to count against that limit.
- Professional buyer representation plays an especially important role for rural homebuyers, many of whom are first-time purchasers navigating a complex transaction with limited financial flexibility.
