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It’s time for Ohio REALTORS to ACT!

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By Ohio REALTORS President Pete Kopf

It’s time for Ohio REALTORS to ACT and show our Buckeye pride!

As of today, less than 10 percent of our membership has responded to the National Association of REALTORS Call For Action to extend the National Flood Insurance Program. This low response rate places Ohio well below the level achieved by states of similar size. More importantly, it puts an extension of an important program in jeopardy.

We can and must do better! Help Ohio improve its response rate by clicking here. By participating, you’ll not only let your member of Congress know how important an extension of the NFIP is…you’ll also help improve Ohio’s stature at the national level.

As an added benefit, you will also help the standing of your Local Board/Association. Click here to see where your Board currently ranks in comparison to your peers across Ohio.

There’s a real possibility that Congress allows the NFIP to expire on Sept. 30. Without Congressional action, the program will lapse adding confusion and uncertainty for current and future NFIP policyholders. The current NAR Call for Action asks REALTORS to contact their member of Congress and urge passage of HR 2874, the 21st Century Flood Reform Act. 

Why NAR Supports the 21st Century Flood Reform Act:

  • Extends NFIP for 5 years
  • Preserves the practice of grandfathering for remapped property owners who build to code
  • The bill would enable repetitive loss property, if an owner mitigates to code, to grandfather 
  • Limits rate increases to no more than 15 percent per year with a new ceiling of $10,000 maximum
  • Authorizes $1 billion in pre-flood mitigation assistance grants to elevate, flood proof, buyout or mitigate high risk properties
  • Addresses issues with repeatedly flooding properties that account for 2 percent of NFIP policies but 25 percent of the claim payments over the history of the program

Additional details on the legislation are available at NFIP FAQ.

Thanks for helping make the voice of Ohio REALTORS heard!

Tags: Association news, politics