Government Affairs Update
January 23, 2009
Based on Opening Day remarks from both the House and Senate the 2009 Legislative Agenda top priorities will be about balancing the budget and stimulating the economy. Unfortunately, the national and international economic slump and drop in consumer confidence can still be felt around the world and Hawai'i.
In Speaker Calvin Say’s Opening remarks he stated, “Be thankful for each new challenge because it will build your strength and character." No truer words can be spoken as a testament to the challenges REALTORS® have faced in 2008 or may face in 2009 and the perseverance and resilience that the REALTOR® community has exhibited.
ACT 137
The Mortgage Rescue Fraud Prevention Act has been a heavy burden on REALTORS®. Many have struggled with the ambiguity of the law and even more so with the inability to help clients. This especially holds true during these tough economic times where help in preventing foreclosures with short sales is needed most.
The Hawai'i Association of REALTORS® took immediate action through education and drafting Distressed Property addenda. Also, HAR has been in constant dialogues and discussion with lawmakers and agencies. Already legislation has been introduced to address this issue. Click here to see the legislation (Senate Bill 34). A House bill is also introduced. Click here to see the legislation (House Bill 233 and House Bill 273).
UNAUTHORIZED PRACTICE OF LAW
The Unauthorized Practice of Law would have exempted real estate licensees and cripple the real estate agency from prohibiting such normal real estate functions, such as, drafting Standard Forms and negotiating on behalf of their client was proposed by the Hawai'i State Bar Association.
HAR has been in constant discussion with the Bar Association and has made great ground in exempting REALTORS® in the new draft. However, the work that REALTORS® do on behalf of their client is so important that we are drafting legislation to address this issue. Bills are still being introduced. As such, links to the bills will be provided next week.
BE INFORMED AND INVOLVED
These issues alone are and would have a devastating impact on the real estate industry and those costs also burden the consumer and will cause the cost to own a home to increase dramatically. These are some examples of the proactive measures needed to help stimulate the economy and protect REALTORS® and the housing market.
Click here to see our HAR 2009 Legislative Agenda
The Legislative Weekly Update will keep you informed on the issues that directly impact you. Now more than ever, unity is needed to create a harmonious message in support or opposition of legislation that affects REALTORS® and the industry. It is your conviction and passion that truly makes us “One Voice at the Hawai'i State Legislature.”