Posted by Matt Register

Shannon Register, Broker/Owner of Register Real Estate Advisors and a Political Involvement Council with Texas Association of Realtors, talks about Proposition 2 and how this injects liquidity into the housing market.

Please excuse any typos in this hasty transcript.

Matt Register, Host: Hey guys, welcome back to Texas Business Radio. is the web site. 844-814-8144 is our 24-hour call in line. Gets your calls in. We’re going to get the experts in here to get those questions answered. We are at this point in the show that we do a regular segment, semi-regular segment, about Texas politics. There’s a lot of issues out there and a lot of things that you need to be aware of that will affect you and your business. We like to bring the experts in here and make sure that you’re aware of those issues before they come up for a vote. And now is no different. I’m your host, Matt Register. Jay Curry had to step out for a minute. Now I have Shannon Registers who is the broker and owner of Register Real Estate Advisors and one of the people who is in the know when it comes to politics and legislative issues that affect homeownership and real estate. Shannon welcome back to the show.

Shannon Register: Thanks. I like to think I’m the better half of this relationship.

Matt Register, Host: Yeah I got it. She is my wife as well, the smarter for sure. So tell me a little bit abour what you want to talk about, Proposition 2, which is coming up like right now. Like like early voting starts now and November 7th is the Election Day. Talk to me.

Shannon Register: So October 23rd is when early voting starts and then the Election Day is on November 7th. There are going to be minimal things on the ballot. We don’t have a presidential election. There aren’t a lot of things to vote for this election cycle. So one of the fears is that people are going to go out and vote. We have several constitutional amendments on the ballot, November 7th. So Proposition 2 is one of those and Proposition 2 is important because it deals with home equity and so that’s why it’s important to me as a realtor and as a homeowner it should be important to all homeowners is that allows easier access to your home equity that you worked so hard to save up.

Matt Register, Host: Well it’s not only home equity it’s land equity and property equity so a business owner that owns owns their land needs access to capital. Liquidity into that market is helpful for them.

Shannon Register: Yes it has to be a homestead. But currently, let’s say you own 100 acres and you have a house. Your house and you know few acres with that house is all you can get home equity out of. This would allow you to get home equity out of your entire homestead. Now is as much acreage as you have. And currently the way the law reads, the only people who have access to that is dairy farmers. And so basically the state is trying to open it up for all homeowners who own land and to help soften up the rules with home equity.

Matt Register, Host: Well but the election cycle this this time around is light like you said. So you know voting for your local dog catcher doesn’t bring people to the polls. And if people do not understand what it is they’re asked to vote on the default is no, correct?

Shannon Register: That’s correct. That’s the thing, the language on this proposition 2 is hard to understand when you read it. And so the fear is, one of the fears, is that people who do go to the polls will read Proposition 2 and not understand it and automatically vote no to something they don’t understand. So just want to educate people. You can find out more information about this too at They’re also on Facebook and Twitter. It’s great. It is really something that will allow more people to access home equity and lines of credit. So you’ve got families who need money for college educations who need money or for weddings for automobiles. It doesn’t even have to be a huge amount of money. They just need access to liquidity from their home. And currently there are there are tight regulations on that.

Matt Register, Host: OK so what you’re asking is when people go to the polls and they see Prop 2, it’s a yes vote is what you are asking.

Shannon Register: Vote yes for Prop 2. That’s right. You know we’re just really trying to get the word out to people to please vote yes to Prop 2. You know whenever there is an issue with anything having to do with homeownership, Realtors like to get involved because we want to protect homeownership. You know right now mortgage interest deduction has been a big deal. The legislature keeps popping up legislation and we’re worried if you if if mortgage interest deduction is done away with then it’s almost like homeowners are being double taxed on that. And that’s not fair to homeowners. They should be able to deduct that mortgage interest deduction.

Matt Register, Host: Got it. So this is a separate issue from Prop 2.

Shannon Register: Yes but separate issue but just saying this is why realtors get involved we want to protect homeownership rights. We believe that people should have access to their equity just like we protect all of their homeownership rights.

Matt Register, Host: Yeah. Got it. Quick question back on Prop 2. There’s nobody really against this. I mean this isn’t something that people are arguing against. The main problem is if somebody doesn’t are saying that they’re going to vote no.

Shannon Register: And low voter turnout.

Matt Register, Host: Got it. So do yourself and your neighbors a favor, vote yes on Prop 2 and tell people about it. is a Web site we’re going to have that linked right from Now switching gears to that mortgage interest deduction. Who in the world is fighting to to make that go away.

Shannon Register: Well it’s it’s been traditionally embedded with other things that get voted on. So the issue is out there. It’s something that we have we currently have a call to action coming down on that. We’re trying to mobilize our legislators make sure that they know this is important because we don’t what we don’t want to do is encourage more people to rent than to buy.

Matt Register, Host: Well in anything that you subsidize you get more of, Right. And this is in a way subsidizing homeownership a little.

Shannon Register: This is one of the few things that encourages homeownership when it comes to your taxes.

Matt Register, Host: That’s exactly right. And you don’t you don’t foster a home ownership society by you know double taxing somebody on their own on the mortgage interest that they have. So what are you asking people to do.

Call their representatives just contact your representative and let them know that you care about this and you want to make sure that we’re able to keep the mortgage interest deduction. When you make the tax return simpler you know they’re talking about going to a one card, postcard, system you lose a lot of things. And this is one thing that we don’t want to lose.

Matt Register, Host: No. Understand. So talk to me a little bit about you were talking about about taxes being the one card system right? So how is it that you are involved in this besides just being a realtor?

Shannon Register: Well I’m involved in the political Involvement Council for the Texas Association of Realtors. And so this is grassroots efforts for realtors and we try to just get the word out about information that’s going to help homeowners. Things that they need to be aware of that could be coming down the pipe legislatively, things like this election cycle, candidates that support legislation that protects homeownership. We’re in favor of those. I mean that’s the Realtor Party we’d like to say.

Matt Register, Host: You know it makes a whole lot of sense and Prop 2 again, what we’re talking about, injects liquidity into the into the real estate market.

Shannon Register: Right. We feel like it’s your home equity you should have those options to use that because people have medical expenses. There’s all kinds of reason people need to access it. I mean, most people put a lot of money into their homes to for homeownership ownership and they need to be able to access it when they need it.

Matt Register, Host: No makes a whole lot of sense. Guys is where you’re going to be able find more information. is the web site where you can learn a little bit more. Early voting starts right now, October 23rd. Yep goes all the way through November 7th is Election Day. Yes for Prop 2. is the Web site. Shannon Register, thank you very much for joining us and telling us all about this.

Shannon Register: Thanks thanks for having me.

Matt Register, Host: All right. We have to go pay a couple of bills ourself. We’re going to be back right after this. Don’t go anywhere.

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About the Author
Matt Register

Matt Register

In addition to hosting "Texas Business Radio," Matt is an investment banker and serial entrepreneur from Montgomery, Texas. He is the owner of RREA Media and Register Real Estate Advisors and a Managing Director and Principal at Corporate Finance Associates. He has a BS from the United States Military Academy at West Point and an MBA from Rice University in Houston. You can read more about Matt HERE.

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