Realtors Urged to Rally behind Consumer Protection Initiatives during Midyear Meetings

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RISMEDIA, May 17, 2007-Pat V. Combs, president of the National Association of Realtors(R), urged Realtors to raise their voices and push for an array of legislative priorities that includes affordable housing, protecting consumers in the real estate transaction and advancing affordable health insurance for all small businesses.

Combs addressed thousands of Realtors gathered here for the 2007 National Association of Realtors Midyear Legislative Meetings & Trade Expo. More than 7,500 Realtors and guests are expected for the meetings that began today and will run through Saturday, May 19.

“Each and every Realtor in this room empowers thousands of people — from every walk of life, in every neighborhood and city — every single day,” said Combs, vice president of Coldwell Banker-AJS-Schmidt. “We are the one clear connection between the consumers, communities and businesses we serve. And by empowering others, we increase our own ability to accomplish the extraordinary.”

Combs urged Congress to revitalize the Federal Housing Administration’s mortgage-insurance program, which would give home buyers access to more affordable loan options and make FHA a viable refinance alternative for people who are stuck in subprime mortgages they can’t afford. She called on Realtors to ask lawmakers to support efforts to improve oversight of government-sponsored enterprises and increase their loan limits, so that home buyers in high-cost areas can afford financing.

Another issue affecting housing affordability is the rising cost of insurance and the impact of natural disasters on insurance rates. “All home buyers and owners should have access to affordable flood insurance and homeowners insurance to protect them from unforeseen circumstances,” Combs declared. She also urged Congress to uphold the long-standing policy separating banking and commerce, and close the loophole allowing retailers to own Industrial Loan Companies for banking activities.

Combs asked Congress to support legislation that would give small businesses access to affordable health insurance. More than 25% of NAR’s 1.3 million Realtors do not have health insurance, a problem that many independent contractors and small business owners share.

President-elect Dick Gaylord also addressed the group and laid out a bold new package called “the 2nd Century Initiative.” NAR celebrates its centennial in 2008. The initiative includes a new partnership with homeowners, home buyers, investors, tenants and landlords. NAR plans to develop a state-of-the art Web site, featuring an array of tools and information targeted to real estate consumers, and will create new advertising and other communications to help show that consumers and Realtors share common interests and concerns.

“For 100 years, NAR has been the ‘Voice for Real Estate’ as the nation’s leading advocate for affordable housing, homeownership and private property rights,” said Gaylord. “With the 2nd Century Initiative, this voice will become a chorus of Realtors and consumers where our real estate interests and issues intersect.”

NAR also plans to develop services critical to the future success of small businesses, including attractive retirement plans and health savings accounts for its Realtor members.

The annual springtime legislative meetings give Realtors an opportunity to visit Capitol Hill and press Congress on real estate issues. The trade expo, which opened Wednesday morning and runs until Friday afternoon, will feature exhibits featuring the newest real estate products and services from 210 companies in more than 32,000 square-feet of floor space.

For more information, visit http://www.realtor.org.

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