Since 1969, the REALTORS® Political Action Committee (RPAC) has been promoting the election of pro-REALTOR® candidates across the United States. The purpose of RPAC is clear – REALTORS® raise and spend money to elect candidates whose philosophies are consistent with and supportive of the concepts of private property rights and the free enterprise system.
RPAC funds are voluntary contributions made by REALTORS®. These are not Association dues for membership rights and privileges. Rather, REALTORS® contribute freely in recognition of how important campaign fundraising is to the political process. RPAC doesn’t buy votes. RPAC enables REALTORS® to support candidates that support the issues that are important to their profession and livelihood and to their clients and customers.
In addition to financial contributions, REALTORS® in Greater Chattanooga meet regularly with elected officials representing the citizens of Hamilton and Sequatchie counties in southeast Tennessee and Catoosa, Dade and Walker counties in northwest Georgia. Each Spring, REALTORS® travel to the Nashville, Atlanta and Washington D.C. to meet with state and federal officials on issues affecting private property rights.
Thanks to RPAC, recent national legislative and regulatory successes include:
- Continued preservation of the mortgage interest deduction.
- Improving federal mortgage programs, allowing more families to join the ranks of homeownership.
- Eliminating burdensome regulations inhibiting environmental quality and healthy real estate markets.
- Passage of the Homeowner Flood Insurance Affordability Act
Recent legislative and regulatory successes in Tennessee include:
- Changes to the Neighborhood Preservation Act to allow courts in counties under the Act to implement a non-profit receiver (like a local church or Habitat For Humanity) to clean up blighted property and get their financial investments in the property repaid when the property is sold at foreclosure.
- Preservation of the ability of Homeowner’s Associations to regulate themselves and implement late fees and community vehicle rules.
- Defeated efforts to allow domestic violence victims to break their lease on their residence. REALTORS® continue to work closely with organizations wanting to help find solutions for domestic violence victims and their housing challenges. However, negating a valid contract and penalizing a property owner does not seem like the right solution.
- Defeated efforts to require every residential closing to be reviewed by a surveyor.
Recent legislative and regulatory successes in Georgia include:
- Strengthened laws to prevent metal theft.
- Defeated legislation to mandate a termite inspection prior to closing.
- Passed an $1,800 statewide homebuyer tax credit.
- Prevented statewide point-of-sale plumbing retrofit mandates.
- Protected water rights for property owners.
- Ensured that private property owners maintain their right to dictate whether firearms are permitted on their property.
- Passed legislation to reform Georgia's property tax assessment and appeals process.
REALTORS® are and must be politically active. If we are not, be assured that someone will be – someone who may not value wise business planning and could threaten property owners and their rights. If REALTORS® do not speak out, get involved and help shape the discussion, someone else will. No one knows a community better than a REALTOR®, and we work in every city, county and community in the nation. REALTORS® are on the front line as defenders of real estate issues.
Click here for the follow-up article: What is the REALTOR® Party? Take Two.