RPAC stands for the REALTORS® Political Action Committee. IAR organized RPAC to collect political contributions and provide assistance to candidates who support issues important to the real estate profession. RPAC is – and always will be – a fair, legal, and vital way for REALTORS® to speak in a unified voice.
RPEC is the REALTORS® Political Education Committee. RPEC contributions are used to further the political education and awareness of our membership and the public. The contributions are also used for issues mobilization, coalition building, and the development of brochures and position papers. RPEC money cannot be used for campaign contributions.
Why is RPAC important?
Because public policy shapes our business – No matter where you live or how far it seems from the state capital or Washington, D.C., laws affecting the real estate industry are passed every year. Elected officials regularly pass laws on taxation, mortgage finance, housing, private property rights and licensure. Many of these laws determine how we as real estate professionals do business and impact the profitability of our business. Because campaign contributions make a difference – By pooling the resources of many REALTORS®, the cost of campaign contributions is spread broadly and REALTORS® collectively have a voice.
Where does the money go?
70% of your contribution goes to Iowa RPAC to support candidates for the state legislature and other state and local offices. The other 30% goes to NAR to support candidates for the U.S. Congress upon the recommendation of the state RPAC trustees.
Contribution decisions are made by the RPAC trustees, a nine-member committee nominated by the IAR nominating committee and elected by the IAR membership to serve staggered three-year terms. The main objective of the RPAC trustees is to help elect candidates who support REALTOR® issues. The decisions made by the RPAC trustees depend upon a candidate’s position on key real estate issues, the REALTOR® relationship with a candidate in the home district, committee assignments and leadership position. Contributions are given to candidates of both major political parties.
How can I support RPAC?
Whether your contribution is $25 or $250, the money you give to support your REALTORS® PAC makes a difference, not only to your business but also to the millions of property owners our profession represents. You may write a personal check to RPAC or RPEC and give it to your local board executive officer, president or RPAC chairperson. Corporate checks are prohibited for RPAC but may be used for RPEC. All contributions must be received in the IAR office by December 1 in order to be eligible for the contests.
What has RPAC accomplished?
• Helped created First-Time Homebuyer Savings Account
• Preventing taxes on real estate commissions
• Eliminating after-the-fact referrals and reducing threats from third-party affinity programs
• Preventing unnecessary additions to seller disclosure forms and other forms
• Preventing transfer tax increases and reducing property taxes
• Supporting legislation protecting private property rights and takings compensation
• Stopping legislation which would have eliminated dual agency
• Preserving the mortgage interest deduction
• Supporting the use of electronic signatures for real estate documents
• Supporting capital gains tax cuts and tax reforms which encourage real estate investment
• Reducing risks and legal liability through enacting seller disclosure laws
• Stopping mandatory home inspection legislation
• Preserving the independent contractor status for real estate professionals
• Increasing FHA/VA loan limits, allowing more families to move into the ranks of home ownership
• Supporting database protection legislation for real property listings