Sumner REALTORS® | Top Real Estate Association

Get in touch

615-824-6629

info@sumnerrealtors.com

March 2025 - REALTOR® Party Newsletter

In This Issue

Capitol Pulse: March Advocacy Update
Advocacy Scoop Podcast - Live! from President’s Circle in Orlando
A Win for Independent Contractor Status in Real Estate
Bright Outlook for the Housing Market in 2025
Good Neighbor Awards: Extraordinary NAR Members, Exponential Impact

NAR CEO Nykia Wright talks with House Speaker Mike Johnson in his Capitol Hill office.

Advocacy Scoop Podcast - Live! from President’s Circle in Orlando

Live from the stage in Orlando, Shannon and Patrick explore the “Magic Kingdom” of advocacy, including the latest on tax reform, the new appointments at HUD, FHFA, Labor, and the CFPB – and what the Advocacy Team is doing to build relationships with the new members of Congress and the Administration in this new, fast-paced and unpredictable policymaking world.

Bright Outlook for the Housing Market in 2025

NAR Chief Economist Lawrence Yun wrote Things Are Looking Up on the year ahead. After a challenging couple of years, the housing market is on the rebound. With mortgage rates stabilizing and inventory rising, home sales are expected to continue their upward trend in 2025. The Federal Reserve's focus on controlling inflation is likely to lead to further rate cuts, easing pressure on buyers.

While mortgage rates may not return to the historic lows of 4%–5%, they are expected to settle between 6% and 7%, creating a more favorable environment for homebuyers. With increasing consumer confidence and a growing supply of new homes, the next four years could see over 20 million existing-home sales and 3.5 million new-home sales, signaling brighter days ahead for the real estate market.

The REALTOR® Party At Work

Promote Walkable, Vibrant Communities Apply for a Smart Growth Grant to fund transportation studies, downtown assessments, walkability studies, and more. Discover how Adirondack/Champlain Valley REALTORS® is Making an Outsized Impact on Regional Development explore the Smart Growth Toolkit for ideas. Questions? Hugh Morris

Advance Housing Affordability Leverage NAR’s Housing Opportunity Grant to drive local affordability initiatives. Explore the Expanding Housing Opportunity Grant Toolkit for ideas and Issue Spotlight: Housing Inventory & Affordability for policy solutions. Questions? Christine Windle

Secure Grant Funding for a REALTOR Party Conference NAR offers grants to state and local REALTOR® associations to host their own REALTOR® Party Conference, empowering them to educate members and further the REALTOR® Party’s mission. Questions? Christine Windle

On Common Ground Moves to Digital to improve production, engagement, and reader experience, On Common Ground goes all-digital in May. REALTOR® associations will have a digital toolkit for sharing customized content with key audiences. More details to come, contact Hugh Morris with any questions.

REALTOR® Party Success Stories

Washington Association of REALTORS® has been instrumental in supporting state-led efforts, including the State Covenant Homeownership Program, to rectify past discriminatory practices. Their proactive approach underscores a dedication to fostering an equitable and transparent real estate environment in Washington state.

After Hurricane Helene, Land of the Sky REALTORS® Tackle Water Safety for Members and Communities

In San Francisco Bay Region, Five Associations Band Together to Advance Fair and Attainable Housing

Florida REALTORS® Successfully Oppose Short-Term Rental Legislation by Stacking Multiple REALTOR® Party Resources

All Aboard! Greater Lansing Association of REALTORS® Expand Play at the Old Train Station in Downtown

REALTOR® Party Playlist

LISTEN: Real Estate Success Stories: A Whole New NAR - Special Interview with Nykia Wright, NAR CEO

WATCH: The 2025 Policy Forum, A Nation of Homeowners: How Tax Reform Can Boost the American Dream,

Capitol Pulse: March Advocacy Update

NAR’s presence was felt on Capitol Hill in March. The REALTOR® Magazine article NAR CEO Nykia Wright Meets With House Speaker Mike Johnson, Congressional Leaders showcases NAR CEO Nykia Wright and Executive Vice President & Chief Advocacy Officer Shannon McGahn engaging in a series of high-impact meetings on Capitol Hill, including meetings with Speaker Mike Johnson and House Minority Leader Hakeem Jeffries. They also had productive discussions with Senate Majority Leader John Thune, Conference Chair Rep. Lisa McClain, and executive staff of the White House addressing important issues like housing inventory, affordability, tax policy, and the role of REALTORS®.
The next few months will be crucial. NAR's Government Advocacy Team will continue to build relationships in DC, and their team has already scheduled more than 30 in-district meetings between our Federal Political Coordinators and the new class of lawmakers.
The Government Advocacy Team hosted a successful kickoff event for the newly relaunched Real Estate Caucus with over a dozen members of Congress and 60+ Congressional staff in attendance. The event featured a research presentation by Jessica Lautz and further solidified NAR's ongoing commitment to influencing key legislative priorities.
Big Win for Housing Providers: NAR, alongside a coalition of industry groups, successfully pushed the FHFA to delay burdensome federal rental policies until May 31, 2025. This pause prevents unnecessary federal overreach into areas traditionally regulated by states—protecting housing providers from a confusing patchwork of rules and costly lease updates.
NAR’s Advocacy Team has been actively engaged in several key policy areas to advance the association's priorities in Washington. This past month the team has given updates on:

- FHFA Delays New Housing Provider Requirements
- NAR's Engagement on Housing Programs
- FinCEN Beneficial Ownership Information Reporting Rule Back in Effect
- NAR Files an Amicus Brief to Protect Property Owners From Excessive Regulations
- NAR's Support for Jonathan McKernan to Lead the CFPB
- Letter from NAR in supports of two bills that provide commonsense flexibility and much-needed relief for natural disaster survivors and taxpayers
- FinCEN Update Regarding a New Interim Rule & Lack of Enforcement

A Win for Independent Contractor Status in Real Estate

The REALTOR® Magazine article, A Win in the Fight for IC Status, outlines a major victory for broker flexibility, in which the New Jersey Supreme Court upheld a brokerage’s right to classify real estate agents as independent contractors (ICs). This ruling, backed by advocacy from New Jersey REALTORS® and NAR, reinforces that written agreements between brokers and agents determine employment status—protecting the industry from burdensome reclassification.

This decision strengthens the legal foundation for IC relationships, allowing real estate professionals to maintain their business independence. NAR continues to fight for laws that preserve this flexibility while encouraging brokers to follow best practices in their IC agreements to avoid legal risks.

Good Neighbor Awards: Extraordinary NAR Members, Exponential Impact

Across the country, NAR members are heroically changing the world. Good Neighbor Awards find the most extraordinary volunteer stories and reward those REALTOR®–led causes with a $10,000 grant and national publicity. Apply today for your chance to have your impact recognized to inspire others. Applications are due April 18. Click here to apply!