An Update from the 2018 NAR Board of Directors in November

As your elected representative to the NAR Board of Directors, I wanted to write to share with you updates from the recent NAR Convention and Governance meetings held in November in Boston.

As a member of the NAR Finance Committee, I can report –

• The maintenance of systems and renovations to the headquarter Chicago building are underway.
• The committee voted to approve renovations to the Washington D.C. Event room which will add approximately 800 SF and allow for larger events. This will help fill the space and generate more revenue from room rental fees.
• The committee voted to waive dues to those REALTORS® affected by disaster in Florida and North Carolina earlier this year.
• The partial sale of stock from our Docusign investment has allowed NAR to invest more in technology to further efforts of keeping the REALTOR® in the center of the transaction.
• 75% of all REALTOR® Party funds go back to state and local associations. In fact, the Cape Cod and Islands Association has received more than its members have contributed. These funds were used to address local and state issues like the Chatham transfer tax proposal that was defeated this year. CCIAOR used these funds to fight this tax.
• NAR CEO Bob Goldberg reported that he has continued to promote the ‘Day in the Life of a REALTOR®’ program to his staff, who are becoming more aware of what we do every day. Click HERE for some insight into this program.
• The First Walk/Run for REALTOR® Relief raised $100,000 for the REALTOR® Relief Fund which is used to help those impacted by disaster. The fund was founded immediately following the 9/11 incident in New York in 2001 and has contributed more than $2,000,000 to those in need.
• Realtor.com reported more than a 20% increase in views over 2017.
• RPR – Realtors Property Resource has been able to reduce its costs to $13.82 per member per year. The commercial REALTORS® are also reporting how valuable of an asset it is for them. All REALTORS® on Cape Cod and the Islands should be taking advantage of this incredible resource to help with their knowledge and valuations in their local markets.

Meetings

• Attended the Trade Show for a look at real estate related products that included BombBomb for video email, Back at You Media and Paradym for Social Media applications, Exposio for HD photography, Smart Home Vendors, and more.
• Attended the session on Federal Issues, Finance Committee, MAR caucus, NERC caucus, trade show, and NAR Board of Directors Meeting.

The Board of Directors voted:

• To support tax proposals that defer or exclude taxes on capital gains on investments that are sold if proceeds are reinvested into low income or economically challenged communities (Opportunity Zones). These zones are new tax incentives that allow you to invest capital gains free if you hold the investment for at least 10 years. We have several on the Cape. Find out more, HERE.
• That written affirmation will be required when requested in writing to confirm presentation of a cooperating offer.
• To allow Code of Ethics hearings even when some facts are used in a civil complaint.
• To adopt Core Standards for Commercial Overlay Boards
• To adopt the latest Strategic Framework Plan
• For a complete wrap-up of the NAR Board’s actions at their meeting, go HERE.