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A Realtor on the Hill: Key Takeaways from D.C.
I’m just back from the NAR Legislative Meetings in Washington, D.C., and what a week it was! It’s always an honor to represent North Dakota’s real estate industry and connect with thousands of other Realtors who are passionate about protecting property rights and the dream of homeownership.
This trip is about more than just networking; it’s about bringing the challenges and opportunities we see on the ground here at home directly to our nation’s leaders. I had the privilege of meeting with Senator John Hoeven, Senator Kevin Cramer, and State Representative Julie Fedorchak to discuss the critical issues facing our communities and our industry.
Throughout the forums and roundtables, a few key themes emerged that are shaping real estate across the country.
The AI Revolution is Here
You couldn’t escape the topic of Artificial Intelligence. From classes to casual conversations, AI is changing everything. We explored innovative ways brokers are using AI to create marketing content, streamline operations, and even enhance RPAC fundraising. The key takeaway? AI is a powerful tool, and we’re just scratching the surface of how it can help us work smarter for our clients.
Big Conversations at the Board Level
The health of our Realtor associations was a hot topic. With significant turnover among Association Executives nationwide, we had frank discussions about how to support our local leadership and ensure our boards remain strong and effective. Another major conversation was around the consolidation of MLS services among smaller boards. It was fascinating to hear the different perspectives on how technology is enabling new forms of collaboration to save resources and better serve our members.
Property Management & Housing Supply
The property management forum highlighted that whether a market has too much or not enough inventory, the challenges are significant. We also touched on the push to convert vacant office spaces into residential units—a creative solution to address both the commercial vacancy rates and the nationwide housing shortage. The consensus is clear: we need more housing, and we need creative solutions to get there.
National Trends, Local Impact
The leading economic experts affirmed what many of us are feeling:
-We need more housing inventory.
-Interest rates need to come down, with many hopeful for a shift next year.
-Home prices have surged 30-75% in the last five years, creating wealth for homeowners but raising the barrier for first-time buyers.
How much home values have gone up in the last 5 years
Bringing these points to my meetings with Senators Hoeven, Cramer, and Fedorachek was a powerful experience. We discussed how these national trends impact North Dakota and what we can do at a state and federal level to cut governmental red tape on new construction and keep our market healthy.
This trip was a fantastic reminder of how well-run our local board is and how proactive we are on many of these issues. It reinforced my commitment to advocating for our industry and ensuring that the path to homeownership in North Dakota remains clear and accessible for all.
Until next time, D.C.!
