The National Association of Realtors® is constantly being accused of not doing enough for the commercial Members. I, too, often raise the red Realtor® “R” in Leadership Team Meetings and other gatherings of Members and Staff. Today, while blogging I’d thought I’d work to set the record straight for many of us that don’t know what we get.
Each year the NAR Government Affairs Division spends significant dues dollars to fund efforts that hold in check the Capital Gains and Passive Loss tax rules. Tenant in Common (TIC) sales and rulings by the IRS had the potential to significantly disrupt the investment market. It was only through the hard work of our lobbyist and “in house” tax counsel that we were able to retain our ability collect a fee when involved in sales of this type. Various issues regarding depreciation are constantly being challenged requiring relentless work on the “Hill” to educate member of Congress about the trickle down affects of dismantling rules that stimulate investment in real property.
CommercialSource.com, NARs commercial real estate marketplace is truly coming to life. NAR recently purchased eProperty Data. A new initiative with Move Inc. will drive traffic to NAR’s commercial real estate marketplace, www.CommercialSource.com, increasing exposure to many of the nation’s local commercial information exchanges, which are affiliated with the Realtors®’ Commercial Alliance, NAR’s commercial division. The agreement will provide unprecedented access to commercial property listings to both consumers and investors; the listings will be displayed on Move’s flagship site REALTOR.com.
So, I’ve come to realize that I, no we, need to realize that our Association recognizes its commercial members as a necessary part of the equation.
I was at a Jimmy Buffett concert on Labor Day. As always he played the crowd’s favorites. Of course, he played “Changes in Latitudes, Changes in Attitudes”. I’ve decided to change my attitude about NAR’s work in the commercial arena. I know we do lots for this sector of our Membership. I want to make sure you know it too. Get involved, see what’s going on now and bring new ideas to the table. Visit Commercial Source.com and Realtor.org to see what’s there that can help you prosper. And also be on the look out for a the upcoming President’s Podcast about commericial issues that will be posted on the President’s Report on October 7. You’ll be amazed.
Finally, enjoy the Fall Season. I’ll see you in Orlando at the Convention. — Jim Helsel, 2008 NAR Treasurer