REALTORS® and Politics

Posted by on Wednesday, September 10th, 2014 at 10:05am.

On this week’s episode of RE/MAX of Boulder Radio, we hosted the vivacious director of the National Association of Realtors, Bonnie Smith.  Bonnie, the first realtor from Colorado to be inducted into the Realtors Political Action Committee hall of fame, spoke with us about the political aspects of real estate. 
Knowledge and awareness concerning the political side of real estate is becoming a hot topic, as there are many changes that will soon be set in place.  Many tax provisions have recently expired, which will affect both real estate investors and first-time homeowners.  
In Bonnie’s interview she discussed the REALTOR
®’s role in politics.  Though many people might expect realtors to be a voice for themselves, the truth is that REALTORS® represent the voice of consumers.  Every organization has a lobby, but the American public does not and that is where realtors speak for the people and for their clients.   
Wildfire mitigation was the first of many issues discussed, and is of specific interest in Colorado due to the constant and unpredictable threat wildfires pose. At first glance, new policies that all homes must be mitigated before being sold seems like a good idea.  However, problems arise when homeowners do not have the money to comply with regulations before selling.  
Another issue that affects the average consumer is the Mortgage Interest Deduction.  This is the largest deduction that the average consumer could have and concerns a great number of homeowners in the United States.  If this is taken away, homeowners will not longer be able to deduct the interest on their mortgage from their taxes.  The National Association of Realtors says this will result in a 15% drop in values.  
These issues along with many more such as the 1031 Exchange Tax treatment, loss of deduction for property tax payments, and Mortgage Debt Cancellation Relief are all discussed in this week’s episode.  The vital information disclosed on each of these issues will help you get educated about these problems and take action to protect the value of your investments. 
Getting involved is critical because of the potential impact on homeowners in Colorado as well as the economy.  REALTORS
® act as the voice of their community on these issues and direct contact and communication with your REALTOR® can be essential in making your voice heard.  To learn more about future changes in legislation, how they can affect you, and how you can get involved, please listen to the full interview below.

Leave a Comment