The GPAR Key Contact Program
The Greater Philadelphia Association of Realtors® (GPAR) is seeking applicants to serve as Key Contacts. The Key Contact Program enhances legislative advocacy and grassroots efforts, through cultivation of meaningful relationships between local real estate practitioners and City Hall. The foundation of this network is the belief that by working together, as a team, REALTORS® can have a profound influence in shaping public policy. Key Contacts are a resource, providing their designated city legislators with technical insight on issues pertaining to the real estate industry. Our goal is to have multiple Key Contacts for each elected official.
Impending Changes Coming for Wholesalers!
City Council held the first stated meeting Act 52 of 2024 was signed into law in July 2024 and modifies RELRA to provide uniformity in real estate licensing and protect vulnerable consumers. Wholesalers will now be required to obtain a real estate license in PA. The law governing this practice takes effect on January 4, 2024.
How does this affect REALTORS®? If a Realtor® does not engage in wholesaling, it does not affect their practice. However, as licensed practitioners, Realtors® should be aware of the legal requirements for wholesale transactions set by the law and the rights afforded to consumers. In addition, brokers may set policies on the practice of wholesaling within the brokerage. More information and FAQs are available here and will be updated as the law is implemented.
Please also be aware of Philadelphia’s own wholesaling regulations which require a license issued by the city, general liability insurance and disclosures.
National Real Estate Headlines
- Congress Passes Spending Bill, Sparing NFIP Lapse
- FAQ: NFIP Expires March 14, 2025
- FTC Issues Final Junk Fees Rule (short-term lodging implications)
- Bipartisan House AI Report
- FinCEN Beneficial Ownership Information Reporting (BOI) Rule
This report is submitted by Brittney Baker Shurr.