The National Association of REALTORS® Board of Directors will vote in May on a budget proposal that includes $35 million in new programming for the association’s 1.3 million members. The additional funding will go toward the association’s new S.M.A.R.T Initiatives (Strategic Measures Advancing REALTORS® to Tomorrow).
NAR created a webpage devoted to outlining the association’s proposed budget allocations. The association aims to be transparent in the budget process, and NAR leaders plan to speak at a series of upcoming events to outline the budget proposals to members.
The investment for members’ future would be an additional $30, of which $17 would go toward additional REALTOR® Party programming and $13 for operating and programming expenses. The total cost of dues per member would increase to $150 per year. The 2019 budget is based on an estimate of 1.3 million NAR members.
The extra funds for the REALTOR® Party would allow for greater advocacy programs centered on stressing the importance of real estate in federal, state, and local issues, as well as mobilizing greater consumer advocacy outreach. Seventy-five percent of the proposed dues increase would be allocated to state and local services, with twenty-five percent allocated to expanding federal advocacy efforts. The proposed increase for operating expenses will be focused on funding a transaction management platform—which is covered by association reserves through 2018—as well as the creation of a new strategic business and innovations group, a financial wellness program for members, and the Commitment to Excellence program.
NAR leaders will be hosting several upcoming events to detail the proposed 2019 budget and S.M.A.R.T Initiatives, including an April 5 Facebook Live event and a webinar in early May. Visit nar.realtor/smartbudget for a list of communication events planned, as well as a downloadable handout that details more about the S.M.A.R.T. Initiatives.
The budget will be presented at the NAR Board of Directors meeting on May 19 during the REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. The final budget will be voted on during that meeting.
—REALTOR® Magazine
—REALTOR® Magazine
