President's Perspective

Alert! REALTORS® are under attack by Congress

Join the NAR Action Center www.NARActionCenter.com

By Doug McCloud
President

My article this month is a plea for all CBR members to please join the NAR Action Center political communications system today! As a registered member, this system will keep you informed about legislative activities that affect REALTORS®.

With our busy schedules, we may not be able to spend a lot of time keeping up with the legislative issues that affect real estate. But, there are times when we must get involved. And, it's very simple to do. Once you become a member of the action center and we need you to act on a federal issue, National Association of REALTORS® (NAR) will send you a `Call to Action' in an e-mail, which outlines the critical issue. You will be provided with a link to send a pre-written letter to your legislator. (Or you can modify the letter as you wish.) The letter is then emailed to your legislator and a copy emailed to you if you wish.

Update Small Business Health Plan Nearly, 140,000 letters were sent to Capitol Hill and 13 Senators have signed onto the Small Business Health Plan legislation, S. 406, which gives independent business people the right to collectively negotiate lower health care premiums for themselves and their employees. We encourage those who have not yet done so to write their Senators and be heard on this issue. Log onto the NAR Action Center  - www.NARActionCenter.com - to send your Senator a letter (it takes just a few clicks of the button).

The whole process only takes about 3 minutes! But this can only happen if you are registered in the NAR Action Center database, which keeps track of your legislative district.

As a member, you'll also receive updates on what action the government is taking on issues involving real estate. If the issue is of interest to you, you can click on a link for more detailed information.

The Ohio Association of REALTORS® also has a system in place to contact members when action is needed. Proof of its success is the recent modifications to the Ohio budget proposal. The transfer tax and revision of the Commercial Activity (CAT) tax were thwarted due to action by members in contacting their representatives.

Banks in Real Estate
We have another issue that has very quickly moved to the forefront of the REALTOR® agenda. The real estate industry is currently under attack by Ohio Congressman Mike Oxley and those who support banks providing real estate services. For the past five years, NAR has successfully fought to prevent this from happening.

The controversy began in January of 2001 when, with the support of Mr. Oxley, federal regulators proposed a new Administrative Rule that would allow banks in real estate.

However, NAR has not just blocked the rule to maintain the status quo, it has introduced HR 111, which is legislation that would allow Congress to decide what activities are appropriate for banks. Over half the members of the U.S. House of Representatives agree with this approach and are currently serving as co-sponsors of the NAR bill. Rep. Oxley, who chairs the powerful Financial Services Committee, refuses to give it a hearing.

Now, after five years of failing to implement the rule, and continuing to deny a hearing on the NAR legislation, Rep. Oxley has introduced his own bill (HR 2660) to allow banks in the industry.

It's vitally important that Ohio REALTORS make their voice heard on this issue. Join the NAR Action Center political communications system today by visiting NAR's Action Center at www.NARActionCenter.com and let's send our congressmen a resounding message to keep banks out of real estate.