Voice for Real Estate 78: Tax Reform, Flood, Teams, Trust Stamp

Voice for Real Estate 78: Tax Reform, Flood, Teams, Trust Stamp


Tax reform is moving quickly through Congress A long-term solution to flood insurance clears
a hurdle And a new benefit is available to help keep
you safe when meeting customers for the first time These stories and more on The Voice for Real
Estate Hi, I’m Stephen Gasque with the National Association
of REALTORS® Tax reform is coming down to the wire. The House Ways and Means Committee has passed
legislation that would dramatically change our nation’s tax laws and now that bill is
nearing a vote on the House floor. The Senate has introduced a bill, too, and,
like the House, it would leave more middle-income homeowners with a higher tax bill. [Alternative take: “Tax reform is coming
down to the wire. The House has passed legislation that would
dramatically change our nation’s tax laws by reducing the mortgage interest and property
tax deductions and making it harder for households to sell their homes without paying capital
gains taxes. The Senate has introduced a bill, too, and,
like the House, it would leave more middle-income homeowners with a higher tax bill.”] That’s why dozens of REALTORS® were in Washington
last week. They went to Capitol Hill to talk one-on-one
with members of Congress who will play a key role in whether the bills will pass and get
sent to the president’s desk for signature. [QUOTE] Cynthia Carley of Arrowhead Luxury Properties
in Blue Jay, Calif., is NAR’s point person for Rep. Paul Cook of California. In her meeting on Capitol Hill, she told him
that she, like so many other homeowners, would end up paying more taxes under the House bill. [QUOTE] In all, 60 REALTORS® from all over America
paid visits to their members of Congress. [QUOTE] As you can see, REALTORS® are making a full
court press to stop the legislation so lawmakers can start from scratch and reform taxes in
a way that helps and not hurts homeowners. Already almost 200,000 REALTORS® have sent
letters to their members of Congress. You can, too, at Realtor Action Center dot
com. [SWOOSH] NAR’s effort to keep federal flood insurance
available without interruption has cleared a major hurdle. The House last week passed the 21st Century
Flood Reform Act, a bill that would keep the National Flood Insurance Program going for
five years and make NAR-backed reforms–like matching premiums to flood risk, capping how
much premiums can rise in a year, and making it easier for people to file an insurance
claim. It would also make 1 billion dollars available
to help homeowners reduce their flood risk. Now it’s up to the Senate, and it has to act
soon. The program expires on December 8. We’ll keep you updated as action unfolds. [SWOOSH] Don’t get into legal trouble if you have a
team working with you in your real estate practice. Dozens of states and the federal government
have laws on the books regulating how you supervise your team, how you pay them, and
what they can and cannot do based on whether they hold a real estate license. NAR Senior Counsel Finley Maxson looks at
these issues in the latest Window to the Law video [QUOTE] NAR Legal Affairs has posted a checklist you
can use to make sure your team is structured in a way that keeps you in compliance with
the law. Access that on nar dot REALTOR®. [SWOOSH] NAR released its latest home sales numbers–these
are for October–and they show healthy housing markets around the country with one big caveat:
tax reform. That’s because what Congress does can have
a big impact on home sales next year. Here’s NAR Chief Economist Lawrence Yun with
more. [QUOTE] YOU can get details on the latest sales figure
at the NAR Research section of nar.realtor. [SWOOSH] Now here’s an announcement about a new free
benefit you get as a member of NAR. The new benefit is from Trust Stamp, a company
that has designed a web tool to help you stay safe before you meet a new customer. Here’s how it works. You send a text or an email to a customer
before you meet with them. In the email, they’re asked to take a quick
selfie and send that along with a picture of their driver’s license or other government
ID and a link to one of their social media pages. Within two minutes you get back a safety report
from Trust Stamp. Here’s Trust Stamp CEO Andrew Gowasack talking
about his company’s service with NAR CEO Bob Goldberg. https://www.youtube.com/watch?v=HzRsxn4cJPY
(link is external) [QUOTE] You can learn more about this new benefit
at Trust Stamp dot RE. [SWOOSH] And that’s our show for the week of November
20. You can get more on everything we talked about
today at The Voice for Real Estate page on nar.realtor. Thank you for joining us and everyone here
at NAR wishes you and your family a happy Thanksgiving. We’ll be back after the holiday, Be sure to
tune in then as we bring you the latest news on The Voice for Real Estate.

One thought on “Voice for Real Estate 78: Tax Reform, Flood, Teams, Trust Stamp

  1. Why doesn't NAR work on reducing the budget or balance budget amendment
    rather than always fighting for "middle class" deductions

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