President’s Message – March 2021
Spring is in the air, and with the new hope of spring, there is a lot to look forward to. COVID and Interest Rates are hovering right around 3%, both historically low. As we can see both factors have greatly affected our market, it is crazy out there. I do not remember inventory ever being this challenging or seeing so many multiple offers. Today’s market certainly seems much more aggressive than its predecessors.
In light of some recent events in Long Island, the National Association of Realtors (NAR) is focusing on Diversity, Equality, and Inclusion (DEI). If you have not seen Newsday’s Expose “Long Island Divided”, it is eye-opening and worth the watch. The leadership at GCAR has accepted the NYSAR’s Fair Housing Challenge, consisting of NAR’s Fairhaven simulation, At Home with Diversity certification, and unconscious bias training. For more information on the challenge go to (insert link). In conjunction, the Real Estate Professionals Institute and the education committee are looking to bring in some more instruction on the topic.
Legislatively our board and committees are working diligently for the benefit of the membership, consumers, and the real estate industry. There is some potential legislation that could affect us all. Imagine losing our status as independent contractors? Think about that for a moment. If we lose our status as independent contractors… then we become, what, employees. I do not know about you, but I would rather not punch a time clock.
There is also a potential Pied-a-Terre and Flip Tax, these are aimed at New York City, but we all know that once something takes hold it will spread. Imagine a Pied-a-Terre tax on second homes upstate. Let’s not forget “good cause” eviction which could be disastrous to property owners. We are vigorously opposing this legislation!
Some other legislation is intended to improve our industry and our client’s ability to buy a home. There are new education requirements to improve fair housing and inclusion. Additionally, we are supporting legislation to increase homeownership with low- and middle-income homeownership incentive programs, as well as a First Time Homebuyer Savings Account program.
If you feel any of this legislation could affect you, your job, your clients, our industry, or the way that you own a property, and want to have your voice heard and do something about it… I invite you to reach out to any of your GCAR leadership and let your voice be heard, collectively making ours louder.
Thank you to all our members who have stepped up to improve our association by volunteering on a committee. I am humbled by your dedication and am looking forward to the progress we make this year.
