During the National Association of REALTORS®’ Midyear Legislative Meetings & Trade Expo in May 2012, between 14,000-15,000 REALTORS® assembled in the shadow of the Washington Monument on the National Mall in Washington, D.C. They came together for the Rally to Protect the American Dream, an event designed to send a clear message to legislators and policymakers: Home ownership is critical to the U.S. economy and needs to be fostered and defended.
Mark Ashworth has his sights set on a seat in the Nevada legislature. When he runs, probably in three years or so, he expects to have his business affairs well in order and his campaign carefully planned out. He can say that confidently as a result of the day he spent a day last January in “political campaign school” developed as part of NAR’s My REALTOR® Party initiative.
Federal lawmakers always know when REALTORS® are in town: During the Midyear Legislative Meetings each May, thousands pour into the Capitol to discuss real estate issues with members of Congress. “No one makes an impact like the REALTORS®,” Sen. Johnny Isakson (R-Ga.) has frequently said over the years in speeches at association meetings.
If the past five years have been extraordinarily difficult, they’ve also been emblematic of the underlying strength of the real estate industry. In a Harris Interactive survey conducted last year on behalf of the NATIONAL ASSOCIATION OF REALTORS®, a vast majority of both owners and renters said owning is better over the long term. And 93 percent of home owners surveyed said they’d buy again.
Identify priorities, involve and educate members with clear lines of communication, and have the courage to take action, even when it may be controversial. That’s the test of leadership. —Gil Woods, 1995
I learned that another word for leadership is “service.” I also learned to appreciate the difference between “we” and “I.” People respond to the difference in attitude that accompanies those small words. —Russ Booth, 1997
There are two critically important areas. First, we need to be vigilant in helping our buyers, sellers, and neighbors understand the impact of legislative and regulatory policy proposals being discussed at every level of government on their real estate ownership rights.
Hosting open houses, going on listing appointments, and visiting vacant properties are routine duties for a real estate professional. But don’t let routine hamper you from staying alert.
According to Andrew Wooten, crime-prevention expert and president of S.A.F.E., the last 12 months were dangerous for REALTORS®. “I’ve been teaching safety since 1986, and last year was the most violent year I’ve ever seen in the industry,” he says.
Until the amount of distressed inventory returns to a normal level, under 5 percent, real estate pros face the unenviable task of clearing these sales as efficiently as possible.
Distressed listings typically sell for 15 to 20 percent below market value, which can cause a drag on home prices overall, according to data assembled by the NATIONAL ASSOCIATION OF REALTORS®.
“There’s nothing better than being able to give a seller a new chapter in life,” says Chris Willette, a salesperson with Edina Realty in Edina, Minn., talking about the three years he has spent honing his short-sales expertise. “The recommendation letters I have from people . . . you can’t explain the gratitude people feel.”
The NATIONAL ASSOCIATION OF REALTORS® played a role in the creation of the HAFA program, bringing U.S. Treasury officials to the table as early as 2007 to talk about problems with the short-sale process, says Iona Harrison, 2012 chair of the association’s Business Issues Committee. “We understood early on, for example, the issues surrounding second and third liens,” she says. “Our insights into the reality of the process were key to putting guidelines in place.”