Last week, we posted several new videos the Leadership Team and I recorded during NAR’s Midyear Legislative Meetings in Washington, D.C. We also e-mailed them to all members for whom we have e-mail addresses. The response has been overwhelming. I have received literally hundreds of e-mails from brokers, associations, and individual members who loved these timely updates and are using them at their own meetings.
If you haven’t seen all of the videos, please take a few minutes to watch them all and distribute at your next meeting.
NAR President-Elect Charles McMillan interviews NAR Chief Economist
Lawrence Yun on when the housing market will recover.
Dick Gaylord interviews industry legend Ebby Halliday.
Dick Gaylord and Dale Stinton give Realtors a sneak peek at the new Realtor.com.
We’ll be rolling out new videos throughout the Summer, so be sure to check the President’s Report regularly and keep an eye on your in-box for e-mail from me. – Dick Gaylord, 2008 NAR President
On Tuesday, NAR announced that we had reached an agreement with the Department of Justice to settle the lawsuit over NAR’s Virtual Office Web site (“VOW”) policy. The first question that springs to mind for many Realtors is,
“Why?”
There are several good reasons:
First, the proposed settlement preserves and strengthens the MLS as a means for broker-to-broker cooperation that serves real estate professionals who are actively engaged in listing or selling property in that MLS by increasing the threshold for brokers seeking to become participants in a multiple listing service.
Second, the settlement acknowledges the success of the IDX policy, allowing it to remain, unchallenged and unaltered.
Third, the settlement allows NAR to put in place a revised VOW policy to provide rules for those brokers wishing to deliver brokerage services using a VOW. For the past four and a half years, there have been no rules due to the investigation and litigation.
Finally, by settling the case, we can avoid costly litigation and focus all of our resources on helping our members strengthen the housing market, our communities and our businesses.
We have already seen a lot of media coverage about the settlement – and some of it departs from the facts. Thankfully, real estate bloggers are helping to spread the word about what this really means, quoting NAR’s General Counsel, Laurie Janik.
We also created a special web page, www.realtor.org/DOJ, which provides additional information on settlement and what it means for consumers, Realtors and the MLS. I encourage you to visit the page if you have questions about the settlement. As always, we will continue to provide updates on the page as we move through the comment phase and onto a final decision in the months ahead. – Dick Gaylord, 2008 NAR President
This weekend, we will join with our families and friends to celebrate a very special holiday – Memorial Day. Every time I drive past the Marine Corp. base at Camp Pendleton, I can’t help but think about all the brave men and women who are risking their lives to protect the many freedoms we enjoy.
I know many of you have loved ones who are currently serving our country – both at home and abroad. And, I simply could not let this weekend pass without paying tribute to all of the brave men and women who have made the ultimate sacrifice on behalf of all Americans.
This weekend, I ask each and every one of you to put your business and personal cares aside, and spend a little time paying tribute to our fallen soldiers – and to those who are currently serving. For just a few minutes, talk about what this day really means and help your children understand that Memorial Day is not about picnics and the beach. Explain that others have paid the ultimate price so that we can enjoy these things.
I also encourage you to consider volunteering or donating to your local chapter of the American Legion or the Veterans of Foreign Wars. Both organizations are the leading advocates for our military service members and veterans.
If you fly the stars and stripes at your own home, please remember to lower it to half staff from sunrise until noon on Monday.
Most importantly, when you see a veteran, take a few minutes to thank them personally for their courage and service.
On behalf of all REALTORS®, I extend my deepest appreciation to all who have served our country, and I pay special tribute to those who are actively engaged in conflicts abroad.
I pledge that NAR will continue to fight here in Washington to give you the recognition and benefits you so deserve. And, I pray that every soldier will return “home” safely to enjoy many more holiday weekends with their families and friends.
I want to leave you today with you a poem, written by Coast Guard Commander Kelly Strong, as a tribute to his father – a career Marine, who served in Vietnam. It’s called “Freedom is Not Free.”
May it be a reminder to all of us of the sacrifices that so many Americans have made to protect our rights for more than 250 years…
Freedom Is Not Free
I watched the flag pass by one day.
It fluttered in the breeze.
A young Marine saluted it,
and then he stood at ease.
I looked at him in uniform
So young, so tall, so proud,
He’d stand out in any crowd.
I thought how many men like him
Had fallen through the years.
How many died on foreign soil?
How many mothers’ tears?
How many pilots’ planes shot down?
How many died at sea?
How many foxholes were soldiers’ graves?
No, freedom isn’t free.
I heard the sound of TAPS one night,
When everything was still
I listened to the bugler play
And felt a sudden chill.
I wondered just how many times
That TAPS had meant “Amen,”
When a flag had draped a coffin
Of a brother or a friend.
I thought of all the children,
Of the mothers and the wives,
Of fathers, sons and husbands
With interrupted lives.
I thought about a graveyard
At the bottom of the sea
Of unmarked graves in Arlington.
No, freedom isn’t free.
One of the major reasons I am so proud to be in the leadership of NAR is how member input is sought prior to decisions being made that affect our organization. This week during the Midyear Legislative Meetings I experienced first-hand the most recent example of active member involvement.
We held two forums to collect member input on the process of electing NAR officers prior to the Board of Director Meeting. I was privileged to moderate these sessions. In 2007, then President Pat V. Combs appointed an advisory group to study the NAR election process. This group submitted a comprehensive series of recommendations that was referred to the Nominating Committee.
In order to hear the members’ views on the election reforms being proposed, NAR Leadership scheduled these two forums. It was rewarding to know that so many members are interested in the elections process. The forum held on Tuesday received very high attendance. Many members of the Nominating Committee attended so that they could hear the members’ views. It was evident that the Committee listened carefully. At Thursday’s forum, the Nominating Committee brought forth a set of revised recommendations that took into account many of the comments voiced at the Tuesday forum.
No matter the issue, we value what our members think. This organization is about them. It is the emphasis that we put on our members that makes me so proud to be a leader of NAR and a REALTOR . — Vicki Cox Golder, 2008 First Vice President
It’s a new day for REALTORS and I am proud to be a part of it! What a thrill it has been to be in Washington DC for NAR’s Midyear Legislative Meetings and to experience such a positive attitude among our fellow REALTORS.
We all know that real estate is local and that couldn’t be more true today. While talking with agents and brokers from California to Texas to New York and everywhere in between they are positive beyond belief. Let’s try to pay closer attention to our local success stories and the positive attitudes and less attention to the front page horror stories on real estate dredged up by the national media. If you have a great positive local story, let NAR’s Surround Sound Campaign know about it.
Is it perfect out there in every marketplace? No. Are attitudes positive and looking up? Absolutely! Our members are here in DC to make sure all Realtors across this Nation can have the opportunity to stay in business by marching on the Capitol Hill to lobby for a revamped FHA, higher loan limits for Freddie Mac and Fannie Mae, plus new possibilities of small business health insurance and so much more. Go to Realtor.org and look at joining us in our efforts! — Pat V. Combs, Immediate Past President
When we invited Ebby Halliday to participate in the Centennial celebration at the Midyear Legislative meetings I knew she would be popular, but I didn’t know that she would be reach “rock star” status.
For those of you who don’t know her, Ebby recently celebrated her 97th birthday. She also recently marked her 65th year as chair of the board of one of the most successful companies in the U.S. In an interview that will be emailed to all members, she passed along her insights from a career that has been dedicated to clients; to her community and to the REALTOR organization.
This week Ebby joined us for 59 and a Half Minutes – the Member and Director Forum; the Centennial Gala, and a special meeting with Distinguished Service Award winners. Also, I was honored to host a dinner in her honor. The more time I spent with Ebby, the more I was overwhelmed by her energy. She recalled the most challenging market and how she persevered. We learned Ebby’s secret to staying vibrant and energetic. Ebby also shared her view on where NAR will be in another 100 years.
This week will always be a memorable one if just for the opportunity to be in the presence of such a glowing star of our industry. — Dick Gaylord, 2008 President
Today, I was very fortunate to speak with a group of young professionals at the Midyear Legislative meetings. In their eyes I saw a ready willingness to get involved in NAR and to contribute to the REALTOR organization. If you weren’t able to come to Washington, go to the Young Professionals Network page on Realtor.org to see what YPN members are doing in our Nation’s Capitol.
Meeting young members inspired me to share a few thoughts and ideas on how they can step up their level of involvement in the REALTOR organization. First, take time to learn about all about new and upcoming programs and activities geared to the Second Century of NAR. There are many landmark programs in the early stages that will surely change our business for the long term. I recommend becoming familiar with these initiatives so that we can respond to unanticipated challenges down the road. Simply, it’s a smart practice to be prepared and enlarge our way of thinking.
Second, participate in educational opportunities offered by NAR and your local or state association. REALTORS are the trusted advisor to consumers. Throughout your career, it’s a good idea to differentiate yourself from the competition by seeking training that will set you a part from your peers. It is safe to say that you probably wouldn’t be comfortable with a doctor or lawyer who stopped learning after they left school. Our consumers have this same expectation of us. Additional education gives you extra credentials that can set you a part from the pack. So, consider obtaining a designation.
Finally, the future of NAR rests with you. We want more members to be involved in our association so that we can benefit from the wealth of ideas in our community. I have found that REALTORS are natural teachers. We share what we’ve learned so that we can be the best for our customers and all those we serve. – Charles McMillan, 2008 President-Elect
We have good news to report on Freddie Mac and Fannie Mae’s declining market policies that have been hurting homebuyers in recent months. A bulletin issued by Freddie Mac on May 2 gives lenders new guidelines on how to deal with borrowers in a declining market. Earlier in March, Fannie amended its declining markets policy and reminded lenders to make their own judgment on local market conditions.
I am especially encouraged by this news because just last week I spoke with representatives from Fannie and Freddie and urged them to make it clear that lenders should not be afraid to counter an initial assessment that a home is in a declining market. The changes by Freddie and earlier made by Fannie will make lending easier to borrowers with good credit.
Under Freddie’s new policy, mortgages with maximum Loan to Value equal to or more than 95 percent are not required to reduce the maximum Loan to Value ratio below 95 percent. First, the mortgage must be used to purchase a home or for a “no cash out” refinance. Second, the mortgage must be secured by a one unit residence. Also, the mortgage application must receive a “accept risk class” approval from Freddie’s automated underwriting software. This is good news for the market.
We hope that these policies will bring stability to the market and new qualified buyers to the table. NAR is pleased to bridge the gap between the mortgage lending community and Fannie and Freddie. We hope buyers can benefit and the spring buying season catches on in many markets around the country. — Charles McMillan, 2008 President-Elect
Graduation Time!
On a personal note: My favorite singer/poet Jimmy Buffett has a great song called “I Love the Now”. My favorite line in the song goes something like this: “I love the Now (All the faces and places), I love the now (all the rats and the races), It’s the only place I’ve ever been, It’s the only way that I know how…”…
As I sat at home last night contemplating the upcoming Midyear Legislative Meetings and Expo in Washington, DC (actually I was trying to decide what I need to pack and I’m a horrible packer) it dawned on me how much we accomplish during this set of meetings and how busy we’ll all be.
Notwithstanding our legislative efforts on Capitol Hill, we have governance meetings, receptions, the trade show, hundreds of committee meetings, dinners, renewing old friendships, the Board of Directors meeting and who knows what else that will keep us busy for 6 days.
If you haven’t had the chance to attend the Midyear or Annual Conference, take the opportunity now to join us in Washington and later this year in Orlando. Attending these meetings is a great way to learn about the latest research and trends affecting our industry and also meet new friends and catch up with long standing ones.
This year, I am little rushed on Saturday as the Board of Directors begins. My son graduates from College at 11am and at 9am I’m to be at the podium giving the Treasurer’s Report. I know President Gaylord will do his best to get me on quickly but my mind will be in Elizabethtown, PA where I’ll be headed as soon as my report is complete. It’s about a 2.5 hour drive to his school. I’m proud of Mike and I will to be there for the big day!
A Realtor’s® life is filled with deadlines and commitments. My commitment to complete my report and get to E-town is one that I won’t subjugate for anything. Families will be here long after an NAR officer leaves their elected position. Still, the “now” in my life is wonderfully amazing. We all need to keep our eye on the future because it seems to be upon us so more quickly each day, but for me, “the now”… the upcoming week… getting to see all of you and doing our Association’s business is exciting and it will be fun too. Seeing Mike graduate will be the icing on the cake!
Safe travels…I’ll see you Washington, DC. — Jim Helsel, 2008 NAR Treasurer
Earlier this week, 2008 First Vice President Vicki Cox Golder and I spent some time in Parsippany, N.J., with some of our friends at Realogy Franchise Group. It was a great meeting, and it reminded me just how strong we all are when we work “All Together.”
So many of our large brokers are making incredible contributions to this organization. Judy Reeves, Executive Vice President and Chief Operating Officer of NRT, LLC was on NAR’s Executive Committee last year, and Alex Perriello, CEO and President of Realogy, has been a great liaison to the large brokers, and made excellent contributions to the Strategic Planning Committee last year.
They are just two examples. So many other brokers – large and small – are working hard to get more REALTORS® engaged in this organization – from political advocacy to education and business tools.
Their leadership is a call to action for every single member of this organization. No matter what firm you work for, or where you work across the country, I challenge you to answer the call and join NAR’s team. Contact your local association or your brokerage, or leave a comment on this blog! Everyone has a role to play in our current and future success. – Dick Gaylord, 2008 NAR President
