April 22, 2024

Ideas to Laws:

New policies passed through the 131st become Maine laws 90 days post adjournment (unless otherwise specified in the bill language). Here are a few new laws that will become effective in the late July time frame:

LD 2035: Flood disclosure for sellers will be required. PL 585, Read the full law here.

LD 492: Municipalities may adopt ordinances to allow residential units in high-density areas within buildings located in an area zoned for commercial use, including but not limited to vacant or partially vacant retail property. PL 490, Read the full law here

LD 2133: Streamline options for electrician journeyman-in-training's licensure to qualify sooner into the workforce. PL 551, Read the full law here.

LD 1294: To create more housing, a municipality may adopt ordinances to allow the establishment of residential units in high-density areas within buildings located in an area zoned for commercial use, PL 536- Read the law here

LD 2262: Amends the laws around the sale of municipal foreclosed properties. PL 640, read the law here

Maine's Legislature to study top industry issues:

LD 2240:  Establishes the Commission to Recommend Methods for Preventing Deed Fraud in the State. A REALTOR® will be appointed to serve on the workgroup.

LD 1710: Establishes the Commission to Improve Tenant-Landlord Relationships and Maximize the Use of Housing Vouchers.

LD 1929: Creates the Commission to Study the Regulation of Residential  Construction Contractors for the Protection of Consumers, which is directed to review potential requirements necessary for and develop recommendations regarding regulation of residential construction contractors to effectively protect consumers, and/or licensure.

LD 1673:  Establishes a workgroup maximize state resources and promote smart growth, walkable neighborhoods, mixed-use development and mixed-income housing in high-use corridors near higher-density downtowns, village centers or crossroads through infilling and redevelopment of underutilized lands.

Your MAR Legislative Committee and Government Affairs Team will continue to provide important updates and there will be more detailed information to come around new laws and impacts to your business!

Proposed Settlement News:

Update:

On Friday, April 19th, Plaintiffs' counsel filed a Motion for Preliminary Approval of this agreement with the federal court in the Western District of Missouri. Importantly, this filing initiates the 60-day time period during which all REALTOR® MLSs, brokerages with 2022 total transaction volume for residential home sales in excess of $2 billion, and non-REALTOR® MLSs who want to be covered by the settlement must take action. The deadline for these actions is June 18, 2024.

Launches National Buyer Agency Campaign:

Last week, REALTOR.com "launched a national ad campaign to remind everyone what buyer representation is all about". The PR campaign provides NAR member with customizable tools for their own marketing use.

MAR Contract Review Committee has met and is underway with proposed revisions to member legal forms ahead of the mid-summer compliance deadline.

GOOD NEWS! Last week, both Fannie Mae and Freddie Mac provided guidance regarding commissions paid to real estate agents and Interested Party Contributions (IPCs) and at this time, have indicated that commission fees are not required to be counted toward the IPC limits (or financing concession limits). These commission payments are considered local common and customary practices.

HousingWire Reports on GSEs and IPCs

Portland ranks #7 in World for Remote Worker's Home!

MaineBiz recently release a story last week than reported Portland was number 7 among cities globally for remote/work from home employees

Read the full story here...

Short Term Rental Ordinance- Likely in your Backyard

Short Term Rental policy discussion are happening in local communities ALL across Maine.

Camden, Bangor, Bucksport, York, Lincolnville, Belfast, Belgrade, Kennebunkport, Yarmouth, Belgrade, Sebago and more have all recently held meetings in some capacity around STR policy. Be sure to check your town's website and read the Public Announcements to stay informed of what is happening in your community! As housing professionals, ensure you have a seat at the table for these discussions.

ICYMI: Economic Impact of a Typical Home in Maine

In 2023, each home sale contributed $155,500 in economic impact. The real estate industry accounted for $17.8 Billion or 19.5% of the state's gross product. Read the full report here.

Coming to D.C. for NAR's REALTORS Legislative Meetings?

May 4 - 9,2024



A email was sent out last week with preliminary details. Please reach out with any questions and let Claire know if you will be at Maine Night Out on Monday, May 6th. We are so excited to advocate for Maine with you in our nation's capitol! Check the schedule here and the event app is now available in your appropriate app stores: NAR Legislative 2024

Maine Primary Election June 11, 2024

On June 11th Maine voters will take to their polling locations to vote on qualified party’s candidates for Federal, State and County offices. Party candidates who are elected at the Primary qualify to appear on the November 5th General Election ballot.

What is a "Qualified Party"?

Maine currently has five qualified parties: Democratic, Green Independent, Libertarian, No Labels and Republican that may participate in primary elections. (Note: although some unenrolled candidates choose to designate themselves as "Independent," there is no "Independent" party in Maine.) 

Can't make it to the polls? You can request an Absentee Ballot:

Ballots become available 30 days prior to the election but can be requested now. Learn more about absentee voting here

Who's Running and for What? Find out more about your candidates here.

Are you running or want to let us know about a REALTOR® Champion who is?

email Claire for more information

TO ENGAGE from anywhere, Please text the word "REALTORS" to 30644, to activate REALTOR® Party Mobile Alerts.

Questions?

Claire Berger, MAR Communications & Government Affairs Manager