Recently, more than 400 California REALTORS® converged on Washington, D.C., joining forces with thousands of fellow REALTORS® from all over the country to attend mid-year legislative meetings. Members participated in “Hill Visits” with individual legislators and sent a clear message that we are committed to driving positive change and shaping policies that will create a more equitable, accessible, and prosperous real estate market. Discussions focused on a few hot topics which have been summarized by C.A.R. as follows:
VA Home Loan Access Enhancements
NAR members have been successful in their advocacy effort to ensure that vets have access to professional representation in real estate transactions. Since the REALTOR push in Washington, the VA has temporarily suspended this prohibition. Now VA buyers are authorized to directly compensate their brokers, leveling the playing field and enhancing opportunities for those who have served our country.
Safeguarding Independent Contractor Status
C.A.R. members advocated for the preservation of agents’ ability to choose to work as independent contractors or employees. Central to this push was their support for H.R. 5419, the Direct Seller and Real Estate Agent Harmonization Act, which seeks to safeguard this fundamental choice.
Homeowners Insurance Reform
While insurance is regulated at the state level, there is still a role for lawmakers in D.C. Recognizing the urgent need to address the escalating costs of homeowners insurance, C.A.R. members called on Congress to support legislation that would provide tax incentives and grants for fire hardening and disaster mitigation. Such programs make homes safer and more resilient, ultimately reducing insurance premiums for homeowners statewide.
Capital Gains Exclusion Enhancement
Seeking to empower more Americans to achieve homeownership, Californian REALTORS® lobbied for H.R. 1321, the More Homes on the Market Act. This proposed legislation aims to double the capital gains exclusion on the sale of primary residences and index it for inflation, thereby incentivizing greater participation in the housing market.
Advancement of National Fair Housing for LGBTQIA
Addressing gaps in federal fair housing legislation, particularly concerning discrimination based on sexual orientation and gender identity, was another top priority for members who talked with legislators. While California already provides robust protections in this area, they emphasized the need for consistent nationwide standards to ensure equal rights for all.
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