Hartford Business Journal

www.HartfordBusiness.com • April 1, 2019 • Hartford Business Journal 17 UPDATE: THE 2019 AD CLUB CT ADVERTISING PANEL GET THE LATEST UPDATE ON WHERE THE AD INDUSTRY IS GOING — STRAIGHT FROM THE SOURCES: JILL ADAMS — CEO, ADAMS & KNIGHT DEREK BEERE — DIRECTOR OF CLIENT SERVICES, MASON ANTHONY KING — COMMUNICATION PARTNER, AMERICAS, LEGO JEFF MARD — VP BUSINESS DEVELOPMENT & INNOVATION, CRONIN KEVIN MIDDENDORF — AVP, CREATIVE DIRECTOR, PRIMACY ANDREW WOOD — PRINCIPAL, STRATEGY, MINTZ & HOKE MODERATED BY DONNA COLLINS, HARTFORD BUSINESS JOURNAL APRIL 16TH, 11AM-1PM UPWARD HARTFORD 20 CHURCH STREET MEMBERS $35; NON-MEMBERS $50 BUFFET LUNCH WILL BE PROVIDED RSVP @ ADCLUBCT.ORG fewer potential homebuyers and sellers. The state's high cost of living is also an issue, made all the worse by two large tax increases since 2010 and the threat of tolls and other tax hikes being con- sidered at the state Capitol this year as lawmakers look to close a $3 billion-plus deficit over the next two years. Indeed, while the number of Connecti- cut homes sold has crept up in recent years, prices have been stuck in neu- tral. In 2008, the median sale price of a single-family home sold in this state was $267,500, according to Boston publisher The Warren Group. Last year, the me- dian home sale price was $258,000. Meantime, home values nationwide have grown 43 percent. Declining home values, too, directly impact agents' revenue and income, since they typically collect an average of 3 to 5 percent commission per property sold. The num- ber of licensed realty brokers in this state has also steadily declined, falling 15.5 percent since 2010, accord- ing to the Depart- ment of Consumer Protection. Lobbying and activism In the wake of the state's sluggish economy, Connecticut Realtors have stepped up their political activism. Evidence of that has been on display both publicly and privately. For example: • In the 2017-18 reporting period, CTR spent $524,666 on lobbying, accord- ing to Office of State Ethics data, which was up 69 percent from the previous two-year period. So far in 2019, the group has spent $34,383.30 on lobbying in Hartford. • In 2014, the association hired James Heckman, the longtime top lobby- ist and aide to former state banking Commissioner Howard Pitkin, to be its government-affairs director. • In 2017, CAR paid UConn women's basketball legend Geno Auriemma to join some 2,300 Realtors for a legislative rally outside the state Capitol, at which the coach bashed the state's fis- cal condition and called for pro-growth policies. Perhaps the biggest political statement CTR has ever made came in 2018. Prior to last fall's election, the body hosted a televised guberna- torial debate at the Shubert Theatre in New Haven, moderated by Barbaro and attended by a raucous crowd of real es- tate agents, some of whom carried signs that read, "Give Us a CT to Sell." Then, about a month later it en- dorsed a full slate of candidates for statewide and congressional offices, most notably backing Stefanowiski for governor. It also spent over $500,000 for media services in support of Ste- fanowski's campaign. CTR says it has routinely backed candi- dates in state and local races, but not the governor's race. However, Realtors' lead- ership says their concern for the state's economic and fiscal climate deepened in recent years, which led them to support a gubernatorial candidate they thought would best help the economy. Realtors' endorsements weren't strictly based on party affiliation. They backed a number of Democrats. In addition, 11 candidates CRT supported also happened to be Realtors. Most of them won their respective races. CTR-TV launched One of the more creative ways Realtors are trying to get their voices heard and spread informa- tion to members is through the launch of a new online news network, CTR-TV. The lobby airs its views in a series of streamed online videos, called "5 in 5." One March 11 installment features anchor Kristi Olds sitting in a plush news studio urging CAR members to reach out to their state lawmakers "to oppose any new real estate taxes.'' In particular, they've taken aim at Lamont's proposals to apply the state's 6.35 percent sales tax to real estate ser- vices and increase the seller's convey- ance tax for properties over $800,000. It's estimated those measures alone would generate $118 million in addition- al tax revenues over the next two years. Realtors have also launched online an ad campaign to oppose those policies. Vernon Realtor and CTR President Dan Keune said the group's video- streaming feature "ensures a timely way to bring information to both our Realtor members and the public." One clip features Keune telling a group of Realtors, "We are gearing up for what we think will be the most difficult legislative session we've ever seen.'' In an email, Keune said state leaders "may not realize the staggering amount of homeowner equity and home values that would be removed with the proposed and massive new taxes to home sellers and real estate transactions. CTR can't sup- port harming real estate owners." Candace Adams, CEO, Berkshire Hathaway Home Services of New England Dan Keune, President, CTR CT Realtors lobbying spending Reporting period Lobbying spend 2013-2014 $266,466.46 2015-2016 $310,781.91 2017-2018 $524,666.07 Source: CT Office of State Ethics

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