Illinois REALTORS®’ actions help get National Flood Insurance Program extension

Illinois REALTORS® can take pride in the extension of the National Flood Insurance Program (NFIP) through Dec. 8. The program had been scheduled to expire Sept. 30.

Their strong response to the National Association of REALTORS®’ Call for Action on NFIP and needed reforms helped convince the Senate to approve the extension last Friday. President Donald Trump signed the reauthorization later that day.

The extension gives time for Congress to consider reform of NFIP and provides consumers another three months of insurance protection. The Call for Action spurred 22.4 percent of Illinois REALTORS® to contact their senators, while 13.9 percent of REALTORS® participated nationally. In Illinois, an overwhelming majority of local associations exceeded the 20 percent goal:

  • REALTOR® Association of Northwestern Illinois (42.5 percent),
  • Quad City Area REALTOR® Association Inc. (38.65),
  • Livingston County Board of REALTORS® (36.0),
  • Mid Valley Association of REALTORS® (35.71),
  • Rockford Area Association of REALTORS® (33.71)
  • Illini Valley Association of REALTORS® Inc. (32.84),
  • Oak Park Area Association of REALTORS® (32.68),
  • Quincy Association of REALTORS® Inc. (31.13),
  • Three Rivers Association of REALTORS® Inc. (30.55).
  • Heartland REALTOR® Organization (28.48),
  • Peoria Area Association of REALTORS® (26.83),
  • Bloomington-Normal Association of REALTORS® (26.5),
  • REALTOR® Association of Southwestern Illinois Inc. (25.98),
  • Kankakee-Iroquois-Ford Association of REALTORS® Inc. (25.79),
  • Decatur Association of REALTORS® (25.77),
  • Capital Area REALTORS® (25.51),
  • Champaign County Association of REALTORS® (24.36),
  • Egyptian Board of REALTORS® (24.25),
  • Logan County Board of REALTORS® (24.24),
  • Belvidere Board of REALTORS® (23.08),
  • REALTOR® Association of the Fox Valley, Inc. (22.34),
  • Danville Area Board of REALTORS® (22.22),
  • Greater Gateway Association of REALTORS® (20.75) and
  • Central Illinois Board of Realtors® (20.48).

“Extending the National Flood Insurance Program was a must-do item – and Congress delivered,” said 2017 NAR President Bill Brown. “That’s good news for consumers, as well as an opportunity for proponents of meaningful reform. With a short extension on their side, leaders in the House and Senate should continue work on the 21st Century Flood Reform Act to strengthen the NFIP and ensure the long-term certainty that current and future homeowners demand.”

These numbers explain urgency, scope and value of national flood insurance issue

Illinois REALTORS® have many reasons to support the re-authorization of the National Flood Insurance Program, and this graphic explains why many have already responded to the National Association of REALTORS® Call for Action.

If you haven’t responded yet, please take a look at some of these facts and click here to participate.

To learn more about the subject of flood reform, go here.

13 local REALTOR® associations pass goal for supporting flood program; more to come

Thanks to the continuing support of Illinois REALTORS®, members of Congress are receiving more emails urging re-authorization of the National Flood Insurance Program (NFIP) by Sept. 30.

If you’ve not yet responded, click here.

Through Monday, 13 local associations had more than 20 percent of their members respond to the National Association of REALTORS® Call for Action. To date, 14.6 percent of Illinois members have responded.

The local associations are:

  • Capital Area REALTORS®
  • Decatur Association of REALTORS®
  • Heartland REALTOR® Organization
  • Illini Valley Association of REALTORS®
  • Logan County Board of REALTORS®
  • Mid Valley Association of REALTORS®
  • Oak Park Association of REALTORS®
  • Peoria Area Association of REALTORS®
  • Quad Cities Association of REALTORS® Inc.
  • Quincy Association of REALTORS®, Inc.
  • REALTOR® Association of Northwestern IIllinois
  • Rockford Area Association of REALTORS®
  • Three Rivers Association of REALTORS®

If the NFIP is allowed to expire on Sept. 30, 22,000 communities nationwide would be affected. In those communities flood insurance premiums could soar, making the cost of owning a home much more costly.

REALTOR® participation key in flood program Call for Action

Help consumers in 22,000 communities nationwide have continued access to flood insurance by taking part in an NAR Call for Action which debuts today.  

NAR is asking its members to ask their federal lawmakers to make sure the National Flood Insurance Program does not lapse. If it does, many current and future homeowners could find the cost of flood insurance too high. That could have as serious impact in the real estate market.  

Do your part by following directions outlined in REALTOR® Party mobile alerts, emails or by going to the REALTOR® Party webpage to send messages to policymakers. In previous Calls for Action, more than 20 percent of Illinois REALTORS®’ membership has participated.  

REALTORS® can also ask their congressional representatives to push for more accurate flood maps and better risk mitigation policies which would help keep rates affordable.  

The more REALTORS® respond to the Call for Action, the stronger the message to elected officials. 

For more information on this issue, go here. 

Register in advance for Thursday’s 1 pm webinar about National Flood Insurance

At 1 p.m. CDT Thursday, the National Association of REALTORS® will provide members with important information about the renewal of the National Flood Insurance Program (NFIP) through the webinar titled, “National Flood Insurance Program Update.” Register now.

REALTORS® want Congress to reauthorize the NFIP for another five years though it is scheduled to expire on Sept. 30. They also Congressional support for the 21st Century NFIP Reform Package, which includes seven bills.

The NAR provides summaries of viewpoints of NFIP supporters and opponents. For some background information on this critical subject, members can refer to the NAR website. The NFIP also supplies information through its website at: https://www.fema.gov/national-flood-insurance-program.