Indiana Association of REALTORS® Wins Legislation Requiring Mandatory Buyer Agency Agreements for All Real Estate Licensees
After two years of membership engagement and education, and policymaker outreach by the state’s REALTOR® association, Indiana now has legislation requiring buyer agency agreements to be mandatory for all real estate licensees, effective July 1st. The timing of the new state law gave Indiana REALTORS® a head start on preparing for NAR’s proposed seller commission same lawsuit settlement and ensures that all licensed real estate brokers across the state will operate by the standard for consumer protection and transparency.
REALTOR Party News – April 2018
New Year New Resolve, By The Numbers, Success Stories, and More
Long Island Board of REALTORS® Takes Lead in Educating the Public about New York’s Latest Protected Class: Source of Income
In 2019, New York State Fair Housing law added Source of Income as a newly protected class. Leveraging its ties to brokers, agents, property managers, and the public, the Long Island Board of REALTORS® launched an energetic campaign with multiple resources to help landlords and tenants understand the requirements of the new law affecting rentals.
Houston Association Gathers and Shares Hurricane Harvey Recovery Resources with Multicultural Associations
Using a Diversity Initiative Grant, The Houston Association of REALTORS® put together a program for members, including the multicultural real estate associations in town, providing information on topics from mold remediation to tax relief to dealing with the emotional aftermath. Grocery story gift cards and a positive housing market outlook made the supportive event even cheerier.
Section 199A Deduction Examples
Example 1 Amy Agent is a single REALTOR® who operates as a sole proprietor and independent contractor. She received $100,000 in net commission income in 2018. She has no capital gains or losses. After claiming deductions not related to her business, including the standard deduction, Amy’s total taxable income for 2018 is $81,000. Her qualified business income (QBI) is $100,000, which is her gross commissions less her business deductions. Amy’s section 199A deduction for 2018 is equal to $16,200, which is the lesser of 20% of her QBI from her business as a real estate agent ($100,000 x 20% =...
Illinois REALTORS® Use Broker Involvement Program to Meet REALTOR® Party Mobile Alert Text Goals
Capitalizing on the robust level of engagement in its Broker Involvement Program, the Illinois REALTORS® recently sent out a State Broker Call for Action urging more members to subscribe to the REALTOR® Party Mobile Alerts texting program. It worked, tipping the state association beyond its goal, and then some.