The manager of the $20 billion fund for the victims of the country’s worst oil spill has met with realtors who are seeking compensation for their alleged losses of profit.

The meeting, held in Washington, was meant to discuss the possibility of realtors receiving compensation. Kenneth Feinberg, the appointed manager of the fund, held talks with the National Association of Realtors. The meeting also involved representatives from Texas, Louisiana, Mississippi, Alabama, and Florida – the Gulf of Mexico states affected the BP oil spill.

Feinberg, in a Congressional appearance, previously called realtors and brokers a “major political force.” He had promised to hear their concerns. Among the major decisions he would to make is to whether compensation will be given to areas that were not reached by the sludge but claim that their local real estate – already battling falling home values – was affected by the oil spill.

Wendell Davis, president of the Florida Realtors said that if subjective claims of business losses were included, there’s going to be “lots of money” involved. According to his estimates, claims in Florida’s northwestern Panhandle would be around $30 million. That area, which was hit by the sludge, posted a 45% decline in sales compared to previous years.

Davis also added that the meeting aimed to set criteria that will be used in determining, who could possibly get compensation. “Our focus has been getting a seat at the table and making sure we are treated fairly,” he said. Meanwhile, Feinberg’s spokeswoman, Amy Weiss, remained mum about the results of the talks.

Want more news on real estate? Go to http://rehab-real-estate.com/ right now.

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