Internet Rumors

Internet Rumors

3.8% Real Estate Sales Tax and Other Tall Tales

The internet, email and social media have given us all more information at the tip of our fingers than many of us ever imagined. This is undoubtedly a great thing. But with that great resource so comes an increase in the amount of misinformation promulgated from inbox to inbox.

Fear and outrage can often snowball these emails into a viral state. The truth rarely gets as much attention. This is unfortunate.

It is understandable that the email reader would become alarmed and want to share the information with their friends, family and colleagues. The wording of some of these emails makes it seem like the information has been vetted by fact check websites like or it provides links to the Library of Congress where you can “see for yourself” (by reading the 2,000 page document written in prohibitive “legalese” language.) More often than not, the reader was sent the email by someone they know and trust – lending more credibility to the false information enclosed.

However, when it comes to matters related to real estate, it is incumbent upon REALTORS® to know the facts. If the information contained in an email is true, you want to be up to speed so that you can provide important information to your clients. If the information is false or misconstrued, being up to speed can help your clients to understand the facts and calm their nerves.

This doesn’t mean you need to be a legislative expert or sit in the library studying bills and statutes. As a member of MIBOR, you’ve got some great resources at your disposal. When you receive an email making claims about a real estate related bill, don’t hesitate to pick up the phone and call MIBOR’s Member and Industry Advocacy team. You can also make sure to read Fast Track, and IAR’s The Advocate for updates on legislation that could affect real estate, subscribe to NAR’s Government Affairs e-newsletters and visit their site.

As new internet rumors are identified – the untold truths will be added to this site. Next time you get an email making claims about legislation that could affect the business, please check back to this site. Here we will compile information validating or refuting common internet rumors. You will also be able to alert us about a new rumor making the rounds.

Rumor Topics:

CLAIM: New Healthcare bill includes a 3.8% sales tax on real estate going into effect in 2013

FALSEFind out the facts here.


CLAIM: Cap and Trade legislation will require homes to receive an energy audit making the sale of a home very difficult.

FALSE – Find out the facts here.

Received an email making a claim not covered here?

Alert us by forwarding it to