February 25, 2024


Making a New Home

NAR: ‘Independent Contractor’ Bill Should Exempt Realtors

2 min read

NAR claims it faces “steep resistance” but will continue to keep advocating for a Realtor exemption to proposals: “Congress will have to acknowledge authentic estate’s exceptional position in the financial system.”

WASHINGTON – A U.S. Senate committee held a hearing Thursday on the proposed Defending the Proper to Organize Act, which targets the unbiased contractor standing of tens of millions of Us residents. The Nationwide Affiliation of Realtors® (NAR) says parts of the invoice deal with steep resistance on Capitol Hill, but that the NAR advocacy staff vows to remain vigilant and engaged with lawmakers on the situation.

“As extensive as this bill is lively, we will do the job to include things like language preserving current point out definitions of ‘employer’ and ‘employee’ and guarantee our market is guarded,” says Shannon McGahn, NAR’s main advocacy officer. “Around 87% of NAR’s 1.4 million customers are unbiased contractors, most of whom select this classification. Congress have to realize genuine estate’s exclusive area in the financial state and assist this longstanding federal recognition.”

Earlier this calendar year, NAR urged customers not to stress in excess of the legislation. Opposite to a report at the time, the Professional Act is not and never ever has been near to imminent passage in the Senate.

In current months, NAR says it has intensified its ongoing academic campaign highlighting how critical the independent contractor classification is to the true estate marketplace. NAR’s advocacy staff argues that provisions in the Professional Act should not use to authentic estate gurus, and bipartisan help for a serious estate-distinct exemption continues to be consistent.

Though securing the 60 votes desired to advance the laws by the Senate is unlikely, McGahn notes that lawmakers have other avenues to thrust the laws forward.

“NAR is self-confident in our position, but we are not letting our guard down supplied the stakes,” McGahn suggests. “We raised this difficulty through our May well legislative conferences with much more than 500 members of Congress. It was one of our best a few legislative priorities this 12 months.”

NAR features more info about initiatives to guard Realtors’ impartial contractors standing on its web site.

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