How would you describe the impact your group had on the region during 2020?

In 2020, local realtors played a pivotal role in sustaining economic vitality within our communities. Each average home sale injected approximately $90,300 into our local Florida economies. The real estate industry, accounting for 23% of Florida’s gross state product, significantly contributed to maintaining resources that supported families and businesses during challenging times. In the first quarter of 2021, Broward communities witnessed record sales, with a global interest in purchasing real estate in South Florida, making Broward County a focal point. The shift to virtual business operations expanded opportunities for buyers to invest beyond their local regions. Despite a drastic 58% decrease in inventory in 2021 compared to the previous year, sales volume surged by 75%, indicating an imminent rise in prices. Indeed, median prices soared by over 15.5%, while average prices escalated by more than 33% from the previous year.

What issues is your association actively advocating for?

Advocacy stands as a primary objective for our association, given our significant size and impact when shaping legislation. Deemed essential due to our political action and economic influence, we’re heavily invested in advocating for several key issues. Senate Bill 2512, the Housing Trust Fund, concerning the distribution of documentary stamp tax, has been a major focus. We’re pushing for a reallocation of these resources from general funds toward crucial infrastructure needs such as water and affordable housing. A recent achievement was the signing of a business rent tax reduction by Gov. DeSantis. Florida was the sole state imposing a tax on businesses renting commercial spaces, reduced from 5.5% to 2%. This reduction relieves new companies setting up in Florida from an additional tax burden, allowing small businesses to focus on expansion and job creation. Understanding the need for revenue without a state tax, we’re advocating for a sales tax bill to ensure online retailers collect sales tax on purchases made by Floridians. This initiative is estimated to generate around $1 billion annually for the state.