On March 24, NAR introduced their 2019 budget proposal called S.M.A.R.T. Initiatives (Strategic Measures Advancing REALTORS® to Tomorrow). These initiatives include $35+ million in new NAR programming as follows: $20+ million for REALTOR® Party Programming, $2 million for new Commitment to Excellence Program, Financial Wellness/Retirement Program and Strategic Business, Innovation and Technology initiatives, $6 million for NAR occupancy costs, and $7.5 million for forms/transaction management platform.
To fund these initiatives, NAR is proposing a dues increase of $30 per member in 2019, which includes the following components: $17 dedicated to REALTOR® Party programming and $13 for operating programming. If approved, the total 2019 NAR dues amount will be $150 per member (note the 2019 NAR budget is based on 1.3 million members).
The extra $30 per year is broken down in the following categories:
- $17 to expand REALTOR® Party programming. The REALTOR® Party, started in 2012 with $40 per member dues of funding, needs additional revenue as the funding requests from state and local associations have exceeded the budget. 75% of the money paid to the REALTOR® Party goes back to state and locals associations who use this money to advance issues, partner with other organizations, and advocate on behalf of members, real estate, and the community. The other 25% of the REALTOR® Party funding goes to advocate at the national level through programming. Note: CCIAOR members received $47 in return through state and local association grants through the REALTOR® Party in 2017 – getting more than 100% of the money they paid back for issues on Cape Cod and on Beacon Hill.
- $6.50 will be used to continue offering a transaction management platform to REALTORS® at no charge. Currently, Zipforms is offered through your NAR membership (your MAR membership expands on the Zipforms platform by providing mobile and the e-signature components). The first three years of this initiative has cost more than $30 million and was paid for out of NAR reserves. Note: More than half of CCIAOR members have an active Zipforms account and use it regularly.
The 2019 budget proposal will be voted on at the NAR Board of Directors Meeting on Saturday, May 19 at the REALTORS® Legislative Meetings & Trade Expo in Washington, DC.
For complete information on these S.M.A.R.T. Initiatives and the 2019 NAR budget, please visit www.nar.realtor.smartbudget.
Contact NAR should you have any questions on this initiative.