BrokerageIndustry News

NAR mostly picks winners in election

8 of 11 RPAC-backed federal candidates win re-election

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The National Association of Realtors backed the winning candidate in eight of 11 Congressional races where the group had directed its greatest resources.NAR's Realtor Political Action Committee (RPAC) made more than $6 million in independent expenditures on behalf of incumbents in both parties who have supported the group's causes in the past.In the 11 races where RPAC's independent expenditures exceeded $300,000, NAR threw its weight behind six Democrats and five Republicans.On election night, with voter sentiment running against the party in power, half of the Democrats NAR pulled out the stops for lost their re-election bids, while all five Republicans the RPAC went to bat for will be returning to the House and Senate.RPAC placed its biggest bet -- $1.2 million -- on U.S. Rep. Paul Kanjorski, a Pennsylvania Democrat who is the second-most-senior Democrat serving on the House Financial Services Committee.Kanjorski is also the chairman of the Financial Services Subcommittee on Capital...