Leadership from the Silicon Valley Association of Realtors joined more than 9,000 Realtors and guests from across the country in the nation's capital last week for the 2018 National Association of Realtors Legislative Meetings & Trade Expo. Realtors met with their respective members of Congress to advance policy initiatives that strengthen the ability of Americans to buy, invest, own and sell real estate.
The nation's Realtors sought congressional support for several important legislative initiatives, including strong net neutrality protections to ensure the internet is open and competitive for consumers and businesses; changes focused on limiting the losses from the recent tax changes; and renewing and strengthening the long-term viability of the National Flood Insurance Program.
On tax issues, NAR is seeking is to eliminate the marriage penalty by allowing joint filers to deduct $20,000 in state and local taxes. Other actions they sought included indexing the mortgage interest deduction for future inflation, permanently extending the tax exclusion of mortgage debt forgiveness in short sales, and the extension of tax incentives for energy-efficient buildings
NAR is also urging Congress to adopt sexual orientation and gender identity as protected classes in the Fair Housing Act. Realtors subscribe to NAR's Code of Ethics, which includes a commitment to provide equal professional services regardless of race, color, religion, sex, disability, familial status, national origin, and as of 2009, sexual orientation, and since 2014, gender identity.
Leadership from the Silicon Valley Association of Realtors met with U.S. Representatives Anna Eshoo, who represents California's 18th Congressional; Jackie Speier, the 14th Congressional District; and Ro Khanna, the 17th Congressional District. Representing the local trade association at the meetings were president Bill Moody, president-elect Alan Barbic, NAR directors Leannah Hunt and Jim Hamilton, federal political coordinator for Congresswoman Eshoo Carole Feldstein, executive officer Paul Cardus, government affairs director Ryan Carrigan and board director Joanne Fraser.
At the NAR meetings, the organization's board of directors voted to raise the bar on professionalism with two amendments to the association's Code of Ethics. Those amendments include publishing limited information about members who violate the Code of Ethics, such as name, photograph, and a description of the violations, as well as requiring listing brokers to provide written affirmation that a buyer's offer has been submitted to the seller or landlord or written notification that the seller or landlord has waived the obligation to have the buyer's offer presented.
Membership at NAR, a strict adherence to NAR's Code of Ethics, and 2.5 hours of mandatory ethics training every two years is what differentiates Realtors from other real estate licensees. Only Realtors may display the Realtor trademark on their business cards and other marketing materials.
"The changes we made to the Code of Ethics will bring invaluable benefit to consumers and allow Realtors to serve them to the best of our abilities," said NAR president Elizabeth Mendenhall. "These changes will also lead to greater accountability to one another to ensure a better transaction and consumer experience, and will instill greater trust in Realtors as important partners in the real estate transaction. This is all about being the best Realtors that we can be for our clients."
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
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For further information, please email or call the SILVAR office at (408) 200-0100.