Why It Matters

The real estate industry faces a perfect storm that directly threatens agent livelihoods and transaction volumes. Housing affordability has reached crisis levels, with median home prices requiring annual incomes above $126,700—pushing existing home sales to 30-year lows. An insurance catastrophe is disrupting transactions, with 13% of California agents reporting failed sales due to insurance unavailability. The National Flood Insurance Program’s authority expired on September 30, 2025, requiring urgent congressional action.

NAR’s $10.98 million quarterly lobbying spend reflects these stakes: pushing housing supply legislation like the ROAD to Housing Act, defending independent contractor protections as worker classification rules shift, and fighting to reauthorize flood insurance programs.

By the Numbers

The National Association of Realtors has spent more than $874.9 million on lobbying since 2003. In Q3 2025, NAR conducted in-house lobbying with $10,980,000 in quarterly expenditures.

NAR’s 25-person lobbying team combines veterans with newcomers. Key members bring critical Hill experience: Shannon Flaherty McGahn served as Staff Director for the House Financial Services Committee, while Elayne Brooke Weiss was Housing Policy Director there.

NAR supplements in-house efforts with external firms including Capitol Counsel LLC and Invariant LLC for specialized work on housing finance and tax policy.

The Agenda

NAR is lobbying on housing affordability through the HOUSES Act and Choice in Affordable Housing Act. The organization heavily focuses on protecting independent contractor status, specifically lobbying on H.R. 3495 (Direct Seller and Real Estate Agent Harmonization Act).

Tax policy remains critical, with NAR defending 1031 like-kind exchanges, capital gains protections, and SALT deductions. The organization actively lobbies on National Flood Insurance Program extension and reauthorization.

Emerging issues include remote online notarization, artificial intelligence policy, and data privacy matters.

Broader Context

Congress faces an acute housing crisis with home prices surging 60% since 2019, requiring $126,700 annual income for median existing home prices of $412,500. This pushed existing home sales to 30-year lows.

The insurance crisis is worsening, with 26.1% of U.S. homes facing severe climate risk. The Department of Labor abandoned Biden-era independent contractor enforcement rules, benefiting NAR members.

The SALT deduction cap increased from $10,000 to $40,000 through 2029, while mortgage rates declined to 6.25% in late October.

Between The Lines

Congress is actively legislating on NAR priorities. The Senate Banking Committee advanced the Road to Housing Act of 2025, while Rep. Kevin Kiley’s Direct Seller and Real Estate Agent Harmonization Act advanced through committee.

NAR maintains influence through the Bipartisan Congressional Real Estate Caucus, relaunched with over 50 members who introduced the Saving the American Dream Act with NAR support.

Competitive Landscape

NAR dominates real estate professional advocacy despite competition. Zillow Group Inc. lobbies similar housing legislation but focuses on technology-specific issues. Investment firms like Pretium Partners LLC represent institutional investors rather than transaction professionals.

NAR’s positioning as the voice for hundreds of thousands of agents provides considerable influence over specialized competitors.

The Bottom Line

NAR is deploying $10.98 million quarterly to address interconnected crises: historic affordability constraints, insurance market collapse, expiring flood insurance authorization, and pending tax changes. The organization sees Congress as a critical window before 2026 elections reshape legislative priorities, pushing housing supply bills while defending agent independent contractor status and tax provisions.

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