Press Releases

November 8, 2024

Public Policy Update

Hello everyone. Well, we had an election this week, and the Realtor profession in Florida absolutely crushed it. We are still waiting on a recount that is taking place in HD 93, but even if our endorsed candidate ends up losing that race, we will still have a more than 98% success rate this election for our endorsed candidates. That’s just incredible news for your profession and Florida’s real estate industry!

Adding to that good news, we were able to increase the size of our legislative Realtors Caucus by three! That means we have three more elected officials taking office who are either Realtors® or are affiliated with the Realtor® profession. Depending on the results of the HD 93 recount, we will either have 15 or 16 Realtor champions here in Tallahassee. Believe me when I say, there is no better avenue to having your voice heard in the halls of government then to bring that voice to someone who walks in your shoes every day and experiences the same professional struggles that you do. 

All of our successful endorsed candidates can be found on our 2024 endorsement website. Once the recount is finished in HD 93, we will update the website accordingly. 

Also, please note, as I stated in last week’s update, Florida Realtors® only endorses candidates for state races. We do not make endorsements for federal or local candidates. Additionally, please remember that the role of your PAC is to protect and promote your profession, which means that all PAC endorsements are made solely on the basis of a candidates track record for supporting issues important to your profession and your businesses. 

Florida Senate and House Announce New Leadership Posts

The incoming leaders of the Florida House and Senate announced new leadership positions yesterday and I have to say, your public policy office is beyond excited to report that five of your Realtor® legislative caucus members were tapped to serve in some of these incredibly important positions.

Senate President Designate Ben Albritton named Senator Jason Brodeur as Senate President Pro Tempore, President Kathleen Passidomo as chair of the Senate Committee on Rules, Senator Joe Gruters as chair of the Senate Committee on Fiscal Policy and Senator Jim Boyd as Majority Leader. You can read more about each of these positions and why they are important by going here.

At the same time, House Speaker Designate Daniel Perez named Representative James Buchanan as chair of the Commerce Committee.

Having Realtor legislative caucus members is these key leadership positions helps us communicate our issues more effectively and it helps us better advocate for your legislative priorities.

NAR Adds Guides for Buying and Practice Changes

NAR published a new Consumer Guide for first-time buyers and created a video series for Realtors® to answer commonly asked questions about the proposed NAR settlement and practice changes. 

Both resources are part of an array of tools designed to support informed decision-making and professional readiness for real estate professionals and customers. All of the resources can be viewed by going here. The Consumer Guides can also be printed as handouts. Most are available in English and Spanish.

New consumer materials 

The Buying Your First Home guide answers questions that include “Who is considered a first-time homebuyer?”, “How do I find an agent?” and “What is a written buyer agreement?” with a focus on highlighting the value of working with a Realtor. It is the 13rd in NAR’s series to equip consumers with the tools they need to make informed choices.

Click the title to view the PDFs:

• Why Am I Being Asked to Sign a Written Buyer Agreement? Covers recent practice changes when it comes to working with a real estate professional as a home buyer. Spanish
• Open Houses and Written Agreements: Covers what buyers need to know about touring homes, attending open houses and when a written buyer agreement is needed. Spanish
• Realtors’ Duty to Put Client Interests Above Their Own: Covers NAR’s strict Code of Ethics that all agents who are Realtors must follow and their ethical duties to act in their client’s best interests. Spanish
• What Veterans Need to Know About Buying a Home: Covers what NAR is doing to promote access to financing for veterans and highlights the options available to veteran buyers in their homebuying process. Spanish
• Offers of Compensation: Covers the process and options available for offering compensation to a buyer’s agent and the reasons why this may be a compelling option for sellers to consider when marketing their property. Spanish
• Negotiating Written Buyer Agreements: Covers what home buyers should expect when negotiating a written buyer agreement with an agent who is a Realtor. Spanish
• Seller Concessions: Covers the most common types of seller concessions, rules for when and where to offer them and how they can facilitate a successful transaction for both homebuyers and sellers. Spanish
• Multiple Listing Services (MLSs): Covers what an MLS is and how it aids in the homebuying and home selling process. Spanish
• Fair Housing: Covers housing discrimination and the Realtor’s role in ensuring fair housing practices are followed. Spanish
•  Listing Agreements: Covers negotiating and signing a listing agreement with your agent. Spanish
• Ten Questions to Ask a Buyer’s Agent: Covers questions buyers should consider when selecting an agent and highlights the importance of Realtors. Spanish
• Ten Questions to Ask a Seller’s Agent: Covers questions sellers should consider when selecting an agent and highlights the important of Realtors. Spanish
• Buying Your First Home: Covers where to begin and what resources are available to first-time buyers. Spanish version not yet available. 

Video series 

In addition, NAR’s legal affairs team has filmed a series of Windows to the Law videos focused on settlement facts, practice changes and MLS rules. Some of the topics include ethics, offers of compensation and fair housing and will be featured in the coming weeks on NAR’s Instagram and Facebook pages. Click here to see all of the videos

Florida Realtors Releases New, Updated Forms

Florida Realtors® released new and updated forms Tuesday to help Realtors® as they incorporate the practice changes required for the proposed National Association of Realtors® settlement agreement following the Sitzer-Burnett verdict. 

The forms are located on Form Simplicity. 

Updated forms:

• Commission Agreement (CA-8): Updated with the required compensation disclosure language for NAR settlement compliance. Also, replaced the term “Prospect” with the term “Consumer” throughout the form to keep consistent with the Showing Agreement and Exclusive Buyer Brokerage Agreements. Click here to preview changes.
• Vacant Land Listing Agreement (VLLA-5): Updated with the compensation section and added the compensation disclosure language for the NAR settlement compliance. Click here to preview changes.
• Limited Service Listing Agreement (LSLA-4) Updated with the compensation section and added the compensation disclosure language for the NAR settlement compliance. Click here to preview changes.
• Exclusive Right of Sale Listing Agreement - Commercial (ERS-9cp): Even though not required by the NAR settlement, the compensation section added the compensation disclosure language to remain consistent with all Florida Realtor listing agreements. Click here to preview changes.

New form:

• Compensation/Concession Addendum Related to Buyer’s Broker (CARB-1): New form to allow the parties to agree to concessions or contingency that relates to the Buyer’s broker being compensated. This form can be used with the Contract for Residential Sale and Purchase (CRSP16xxx), Vacant Land Contract(VAC-14xxx) and the Commercial Contract (CC-5xx). Click here to preview.

Florida’s Revenue Exceeds Expectations

A report posted online Monday by the Legislature’s Office of Economic & Demographic Research showed Florida had net general revenue during the month of nearly $4.176 billion, $28.4 million more than anticipated when a panel of economists revised projections in August. 

Earnings on state investments exceeded projections by $48.6 million, while most other revenue sources did not meet expectations, according to the report. Sales taxes, which make up the majority of general revenue, totaled $2.779 billion. The total was $4.5 million less than forecast. 

According to the report, nearly all of the sales taxes had already been sent to the state before Helene made landfall Sept. 26 in North Florida’s Big Bend region. Corporate income taxes, which are the second largest source of general revenue, came in at $1.027 billion during the month, $13.6 million below the forecast. 

Read the full article here.

U.S. Treasury Expands Foreign Real Estate Rules Near Bases

The U.S. Department of the Treasury issued a final rule last week that expands the government's ability to review foreign real estate transactions near more than 60 military bases and installations across 30 states.

The Treasury Department worked with the U.S. Department of Defense on the rule, which gives the Committee on Foreign Investment in the United States, or CFIUS, new authority. CFIUS has the authority to review real estate transactions near military installations and to take action in appropriate circumstances. The final rule adds nearly 60 military installations to an existing list of military installations around which CFIUS has jurisdiction over real estate transactions and CFIUS jurisdiction around nearly 10 existing installations also will be extended. The final rule will become effective 30 days after publication in the Federal Register.

Read the full article here.

Please reach out to us at publicpolicy@floridarealtors.org with any questions you may have.

Sincerely,

Andy Gonzalez
Vice President of Public Policy
Florida Realtors®