Kaki Lybbert was installed as the 2018 chairman of the Texas REALTORS® on Saturday night at the 2017 Texas REALTORS® Conference along with Chairman-elect Tray Bates, Secretary/Treasurer Cindi Bulla, and Immediate Past Chairman Vicki Fullerton.
Lybbert began her speech by recognizing the work Texas REALTORS® have started with the Texas REALTORS® Relief Fund in the wake of Harvey and reinforcing how the REALTOR® family will continue to work to rebuild their communities.
She also spoke of the responsibility the REALTOR® organization has to encourage homeownership. While many measures of the economy are reaching new heights, the homeownership rate is near all-time lows—especially with Millennials. REALTORS® must work to build trust with consumers and increase homeownership to secure the future of the industry, Lybbert said.
The view from D.C.
CNN political analyst and Republican strategist Ana Navarro shared her insight into Washington, D.C., politics at the Governmental Affairs Forum.
Attendees also heard from special guest Congressman Al Green, whose district includes most of southwestern Houston. He explained that flood insurance is an issue that impacts homeowners statewide.
Congress passed a three-month extension of the National Flood Insurance Program this week and the president signed it Friday. However, this only extends the program until the end of the year, so NAR may issue another call for action in a few months.
“There is much work needed to be done on flood insurance,” Green said.
Green has long been a REALTOR® Champion, receiving the Texas REALTORS® Legacy Award in 2011 for his continued efforts to protect private-property rights and homeownership.
Political Affairs Chairman Matt Hilton recognized 1997 TAR Chairman John Nichols, who received the Meritorious Service Award from the National Association of REALTORS® earlier this year. The award is given to REALTORS® whose outstanding work at the U.S. Capitol contributes to vibrant communities and a sound and dynamic U.S. real estate market.
E&O concerns coming from California
Members of the Texas REALTORS® Errors and Omissions Insurance Task Force agreed that, for whatever reason, E&O concerns seem to originate in California before making their way to the rest of the country, Texas included.
Representatives from Mondics Insurance Group, CRES Insurance Services, Pearl Insurance, Preferred Guardian Insurance, and Landy Insurance were on hand at the Risk Reduction Form to share with Texas REALTORS® common issues and risks they should be aware of.
Everyone is aware of cyber and wire fraud risks for escrow agents, but now property managers and others not used to being targeted are being hit with phishing attacks, email spoofing, and even being compromised with spyware-infected memory sticks.
Following Harvey, insurance representatives said, disclosure of mold damage could be an issue in Deceptive Trade Practices Act lawsuits. Their advice was to document everything possible.