I recently caught up with NAR’s Chief Advocacy Officer Shannon McGahn to talk about changes that have happened in NAR’s advocacy program as well as legislative priorities for the association. McGahn has an impressive resume, prior to joining NAR’s staff, she served as the staff director for the House Financial Services Committee and as a counselor to the United States Treasury Secretary. In addition, she worked for three members of House Leadership.
Over the past year, NAR has done a phenomenal job lobbying on behalf of the real estate industry, advocating for the Pandemic Unemployment Assistance, the Paycheck Protection Program loans, rental relief programs and more, all of which provided a financial lifeline for many Realtors® during the pandemic.
McGahn noted that five federal COVID relief bills have been passed and NAR has been involved in representing the real estate industry in each one. These legislative victories, which provided members with direct access to funding that typically would not have been available to them, illustrate tangible returns on our members’ dues investments and demonstrate the value of the Realtor® organization.
NAR continues to advocate on other key legislative priorities as well.
One priority is preserving the 1031 Like-Kind Exchanges. McGahn said NAR has concentrated on educating lawmakers about the benefits of 1031s and how they are very critical to businesses, including smaller ones. “We’ve had very favorable results from lawmakers after our education,” she said.
NAR’s advocacy efforts this year are focused on three areas: improving access to homeownership, building strong and resilient communities and ensuring fair housing for all. And they are devoting extra attention to reinvigorating a change in commercial real estate landscape.