INDIANAPOLIS – People generally know Realtors® as the local professionals who put their expertise to work helping clients execute real estate transactions. But the core of what Realtors® do is serve their communities, impacting local business and the economy, and supporting the institutions that make Indiana a great place to live and work.
That mission is front and center this week as Realtors® from around the state head to Washington, D.C. for the National Association of Realtors®’ Legislative Meetings & Trade Expo. We will unite as the “voice for real estate” to protect homeownership and commercial real estate incentives that strengthen our neighborhoods and help keep Indiana property markets vibrant.
Members of the Indiana Commercial Board of Realtors® (ICBR) will use the week to meet with members of Congress and leaders inside the administration to show their support for the policies that make property ownership and business development possible for millions of Americans.
“Despite fewer properties for sale, contract signings are up in Indiana. And so are prices because of the competitive market,” said ICBR president Chris Cockerham, CPM, F.C. Tucker Commercial Bloomington. “If the current low inventory-high demand situation remains, Realtors® can expect prices to increase going forward. Especially if proposals limiting or repealing tax incentives for commercial ownership aren’t blocked. It would hurt the real estate sector, unfairly harm property owners, and could cause property values everywhere to plunge.
“We can’t afford another housing crisis, so we must continue to encourage the benefits of owning real property,” said ICBR legislative chair Brad King, RE/MAX Ability Plus Commercial Indianapolis. “Realtors® support tax reform, but gutting the mortgage interest deduction and repealing the deduction for property taxes is the entirely wrong way to go about it.”
From defending important tax policies like the mortgage interest deduction to reminding legislators to make flood insurance a priority, Realtors® are protecting the targeted tax benefits and programs that help consumers purchase what is often their largest asset.