Not to toot our own horn (well, okay, maybe a little) but before and since the 2008 financial crisis unfolded, commercial REALTORS® have been proud to bring a loud and consistent voice to Washington, advocating for Congressional support on the issues that affect our commercial practitioner membership.
NAR’s Commercial Real Estate Advocacy Timeline 2008-Present is a great read to catch up on what the commercial professional has seen done and promises to see in the future in terms of advocacy.
Dealing with the folks on the Hill is not a cakewalk. Washington is legendary for gridlock, and making a case for our industry is not a job to take lightly. But the principles of the commercial real estate market speak directly to the unique narrative of opportunity and growth that our country will always be known for. Making sure that isn’t forgotten on Capitol Hill is why we’ve been able to consistently bring home a series of advances for our industry, including these highlights and more:
- Loudly registering concerns about FASB‘s lease accounting proposals
- Urging Senate leadership to include statutory framework for a US covered bond market, which could provide the industry with new credit sources
- Supporting Internet Sales Tax fairness, assisting states to collect an estimated $23 billion in uncollected sales taxes while helping brick-and-mortar retail businesses face fair competition
- Achieving Congressional extension of flood insurance to provide certainty and avoid disruption in real estate markets
- Advocating for REIT and other asset-backed issuers in the face of SEC review
- Supporting extension of key SBA programs, aiding credit availability in office, retail and industrial sectors.
And so much more. Take a look at the full timeline here and follow along as we fight the good fight for our members and our industry.
What’s up in your neck of the woods in terms of these proposals? What would you tweak? What would you like to see us take up in Washington?
- Commercial Real Estate Sales Prices Expected To Improve (laurexrealty.wordpress.com)
- NAR Commercial Podcast: Rally For Real Estate In Washington (commercialsource.com)
- NAR’s Commercial Real Estate Market Survey Is Out (commercialsource.com)