I was in San Francisco last week, attending the Inman Real Estate Connect, along with 1,600 of the best minds in technology and, more specifically, real estate technology. On Thursday, I had lunch with Jeremy Conaway, who consults with a number of brokerages and associations across North America, and we discussed our impression of what was being discussed at the conference.
Jeremy reminded me that Brad Inman began Connect in 1997 to facilitate innovation and the sharing of dynamic ideas. And, boy, has he certainly succeeded!
The sheer number of dynamic and university-type individuals taking part in the conference was powerful and insightful. That’s no surprise considering that Brad maintains a table on the stage with wine and beet jam to “reward” those who ask the best and worst questions during the sessions.
Here are the nuts and bolts of what Jeremy and I heard throughout the week:
1. Consumers, in the eyes of attendees, are king. Every presentation evolved into a discussion about what consumers expect and are demanding from us.
2. The opening session included an intense discussion about various aspects of America’s economy. There wasn’t a lot of agreement – each side seemed to cancel out the other.
3. It was clear that over the next 24 months, our nation, industry and Realtors will be on a journey learning new things, working more closely together, and reinventing many aspects of the industry and the transaction. Fortunately, several panels also reminded everyone that all real estate is local.
4. Real estate searches are considered an art form for the folks at Inman. One segment was given to a discussion of all the different aspects of even the most simple real estate search. Another discussed and examined the relative importance of complete information and search-related tools. It was unanimous that the most comprehensive data is more important than the tools. Realtors represented our industry very well at the Inman Conference.
It was especially fun to watch Mark Lesswing, NAR’s Chief Technology Officer, present and interact with his contemporaries from the brokerage and Internet sectors. You all would have been proud of MOVE President Lorna Bornstein, whose presentation and comments clearly captured the imagination and attention of the attendees.
I had an opportunity to sit with Dorothy (Dottie) Herman, President and CEO of Prudential Douglas Elliman Real Estate. She heads one of our country’s largest and most successful firms. I am hopeful that she will be with us for our November Conference & Expo in Orlando. She is a dynamo!
Congratulations are in order for Bob Hale, President and CEO of the Houston Association of Realtors, who received the “Innovator of the Year” award.
Alex Periello, President and CEO of Realogy Franchise Group, who serves as NAR’s liaison for Large Firm Relations; Errol Samuelson, President of Realtor.com; and Joel Singer, EVP of the California Association of Realtors, who is chair of NAR’s Strategic Planning Committee, each served on a panel.
They each had great insights, and I was proud of their association with us. All in all, it was a great week for Inman and another great opportunity to show how Realtors are leading our industry toward another century of success. – Dick Gaylord, 2008 NAR President
There is no mistaking that an election season is upon us. You can’t turn on the television or listen to the radio without seeing or hearing a campaign commercial. In fact, we are inundated with them. But there is a good reason for this. The issues we face, as REALTORS and Americans, have consequences for the housing market, our economy and our lives.
Now, I will admit, I have been partisan most of my life. I have been chairman of my county party, a delegate to the National Convention and continue to serve on campaign committees and as a precinct committeeman. However, in serving our members as an officer of NAR, I know that party registration is not as important as whether candidates and elected officials support issues important to REALTORS. This is why REALTORS have friends on both sides of the aisles, and our RPAC donations are nearly evenly split between both parties. When elected officials support our issues we don’t consider them to be Democrats or Republicans but rather members of the REALTOR Party.
So, as the campaign season heats up, it is so important that we as REALTORS back candidates that champion private property rights, homeownership and housing issues. If you don’t know how a candidate stands on our issues, go to their website, or call their campaign. Let them know you are a REALTOR, and these issues are important to you.
And remember, when the REALTOR Party wins, we all win!! — Vicki Cox Golder,2008 NAR First Vice President
We are returning from the State of Maine where the RPAC Trustees dutifully performed the very important task of designing strategies and support for our issues and candidates. The RPAC Trustees are due the express gratitude of all REALTORS for the tremendous investment of their time between regular meeting cycles to do work that benefits all of us.
Knowing that the Trustees were in Maine, Past NAR President Sharon Millett and her husband Jerry, opened their home and treated all of us to an evening we will never forget. The entire family worked hard to make the evening so memorable.
We had never been to a Lobster Bake, which is a Maine tradition, and no one does it better than the Millett family. The preparation was intriguing,from the cooking on the beach to the serving of the clams, lobsters, corn on the cob, filet mignon to the strawberry/blueberry shortcake parfaits. All of it melted in your mouth.
In addition to the Trustees and Leadership Team, four past NAR Presidents were in attendance: Pat Combs, Dorcas T. Helfant (also a RPAC Trusee), Cathy Whatley and – of course – Sharon Millett .
Left to right, Jerry Millet, Jim Helsel, Dick Gaylord, Sharon Millet and Charles McMillan.
Again, our heartfelt thanks to the RPAC Trustees, NAR’s Government Affairs staff and to Sharon and Jerry and the entire Millett family for a very productive meeting and a weekend we will never forget. — Dick Gaylord; 2008 NAR President, Charles McMillan; 2008 NAR President-Elect and Jim Helsel; 2008 NAR Treasurer.
I have heard from members recently about the careless comments that appeared on the TODAY Show Money segment on July 2nd. I wanted to let you know that NAR has sent a letter to NBC asking them to clarify their misstatements. If your clients saw this piece, they may be asking you what the truth is. I recommend that you turn this into an opportunity to educate them with correct information about the current situation in mortgage lending.
In the piece, Matt Laurer stated, and Money host Jean Chatzky agreed, that zero-down payment mortgages are gone. This is not true. Fannie Mae and Freddie Mac have told NAR that they are still doing zero-down mortgages within special programs and limited to borrowers with high credit scores. The problem with zero-down payment loans is not in their availability – but whether mortgage insurance companies would insure such loans. Another problem with these loans is when they are abused by borrowers who take out this loan and find that it doesn’t meet their financial needs. Zero-down payment loans remain a good product for a specific type of borrower, which may turn out to be one of your clients.
Second, Ms. Chatzky also said that Federal Housing Administration (FHA) down payments in some areas were as high as 10 percent to 15 percent. Again, this statement is wrong. FHA loans are 3 percent down across the board. In response to our letter, on the TODAY Show website , NBC clarified this portion about FHA.
This is a great opportunity to educate your clients about current conditions in the marketplace that will help consumers get off the sidelines and back into the market. And that is why REALTORS remain the most trusted source of real estate information. — Dick Gaylord, NAR President
Today, the Michigan Association of REALTORS® sent a message to all of their members, mourning the terrible loss of one of our fellow REALTORS®, at the hands of a disgruntled client.
Troy VanderStelt, a REALTOR® who lived and worked in the Muskegon area, was shot in his office yesterday by a past client, who recently found out that he could not sell his home for a price at or above what he paid in 2005. When I heard about this senseless tragedy, just a short drive from my own home in Grand Rapids, I wanted to share it with our members for two important reasons:
First, and foremost, I want to express my sincere condolences on behalf of the entire REALTOR® organization to Troy’s family, and all of the agents and employees of Nexes Realty Inc. in Roosevelt Park. Our thoughts and prayers are with you during this difficult time.
Second, I want to underscore to all agents and brokers the importance of safety education and training. Each and every day, REALTORS® meet with strangers in our offices and in their homes. While we can’t avoid all risks, we can help protect ourselves from many of them by being alert and aware.
Later this month, NAR will be sending the 2008 Safety Week Toolkit out to all state and local associations. I urge every association executive to use the resources included in the toolkit to reach out to your members and educate them about the dangers we face. And, I encourage all brokers to take a hard look at your offices and think about how you can make them safer for employees and clients. – Pat V. Combs, 2008 Immediate Past President
NAR has been trying for more than a year to put the current problems in the housing market in the proper perspective, telling the media and consumers that the housing “crisis” is really an isolated problem and that we already are working to fix it.
I have to give credit to Dennis Kneale for his commentary on CNBC last week. He provides the best assessment I have heard thus far about this so-called crisis and where the problem really lies. Listen to what he has to say and please forward this to your fellow REALTORS® and all of your clients today! – Dick Gaylord, 2008 NAR President
