ShareCommemorations of the 50th anniversary of the Fair Housing Act continue nationwide at local and state REALTOR® associations with a wide variety of events.
The REALTORS® Association of Metropolitan Pittsburgh partnered with the city of Pittsburgh and its Housing Authority in April to cohost a panel discussion about fair housing. A capacity crowd was on hand for the event, which featured the association President David Dean, city officials, and representatives of the National Low Income Housing Coalition, the Department of Housing and Urban Development, and the Urban League of Pittsburgh.
Before the panel discussion kicked off, a short press conference introduced a new comprehensive fair housing package that the mayor and city will use to address fair housing in the future. Dean was among the members of the mayor-appointed task force that developed the program.
Like many REALTOR® associations, the New York Association of REALTORS®, dedicated the entire edition of its April magazine to fair housing issues, not only to remind REALTORS® that it was Fair Housing month but to educate on the relevant state laws that protect residents from housing discrimination.
The magazine is filled with editorials written by REALTOR® fair housing partner organizations including the Asian Real Estate Association of America, National Association of Gay and Lesbian Real Estate Professionals, National Association of Real Estate Brokers, and National Association of Hispanic Real Estate Professionals. These authors focused on the history of the Fair Housing Act from 1968 to today and offered their thoughts for the future. The association also created nine unique videos featuring members of their association talking about the importance of fair housing in New York.
Read more about fair housing events going on nationwide and post your association’s event for others to read at homeownershipmatters.realtor/fair-housing-stories.
Associations Promote U.S. Real Estate Opportunities Abroad
Thirteen state and local REALTOR® associations took part in the March 2018 NAR-USA Pavilion at the premier commercial real estate event, MIPIM (Le marché international des professionnels de l’immobilier) in Cannes, France. The post-event survey indicates that members made valuable connections (seven on average) that are leading to real business for members and communities.
For example, The Quarters, an innovative new coliving building in downtown Chicago, is a tangible result of a commercial member who met German developers at MIPIM and was chosen as the broker to help purchase and repurpose the building. But that hasn’t been the only success story. An Iowa member met his international client face to face and inked a $50 million contract in 2018. San Diego officials made a connection leading to a $240 million foreign investment in their new port project.
Because offers are made and deals are inked at MIPIM, members of the Missouri Association of REALTORS® were in a position to instantly provide listing options to a Japanese investor looking for a large land tract for cattle ranching in the Midwest. Association President Nate Johnson and CEO John Sebree, RCE, knew which members had expertise in this area and contacted them from Cannes. Right away, several listings were emailed for review. Will it result in a transaction? International business often takes time, yet the opportunity to make something happen was possible because they were at MIPIM, making important personal connections.
Now is the time to plan for attending MIPIM 2019. Developing a strategy long before you go will pay off. For example, know what types of industry, business, and development your region wants to attract; involve your local or state economic developers; have a policy on how to handle business leads; promote your involvement; and encourage members to attend. For more on MIPIM, watch the 2018 NAR MIPIM video at nar.realtor/MIPIM or contact Jan Hope, NAR’s vice president of commercial and global services, jhope@realtors.org.
Fact-Based Research on a Fear-Based Topic
The presence of aff ordable housing in Wake County, N.C., does not aff ect surrounding property values, a new Raleigh Regional Association of REALTORS® study found. “As Wake County communities look to house an increasing number of neighbors, it is important that we separate fact from fi ction regarding housing issues and focus on real solutions,” says association CEO Tessa Hultz, RCE, CAE.
The commissioned study identifi ed Habitat for Humanity–built homes as a representative sample of aff ordable housing and compared property pricing in subdivisions with a signifi cant percentage of aff ordable housing to subdivisions without any. The study found that pricing metrics did not consistently favor either group, and that subdivisions containing a sizeable number of Habitat for Humanity homes continue to draw for-profi t builders. For details, contact Casey R. Angel, caseya@rrar.com.
REALTOR® Victory Over Property Transfer Tax
When Virginia Governor Terry McAuliff e introduced a budget bill to secure funding for the Washington Metropolitan Area Transit Authority that included a 10-cent increase in the local real estate transfer tax, known as the grantor’s tax, local REALTOR® associations fought back. The Northern Virginia Association of REALTORS® leadership scheduled the fi rst of several meetings with their counterparts in the Dulles Area Association of REALTORS® and the REALTOR® Association of Prince William. After much consideration, the joint position of the associations was that although REALTORS® are supportive of strengthening and improving the Metro, which is a vital component to the economic success of the area, the goal was to eliminate, or at least reduce, the proposed increase of grantor’s tax. By staying engaged with elected officials, REALTORS® negotiated the tax increase in half; however, the final bill did not include any grantor’s tax increase.
-Eric Berman