Yesterday, I met with Sheila Bair, chair of the Federal Deposit Insurance Corp. – one of our closest contacts in the Obama Administration. We talked at length about the problems that REALTORS® are facing on the ground, including problems with short sales and loan modifications. I am happy to report that she recognized these problems and said they are developing some new ideas that could help resolve them.
I will continue to update you on development in this area, and I invited Ms. Bair to provide you with a direct update on these efforts at NAR’s Midyear Meetings this May. Stay tuned for more information on that in the months ahead.
My meeting with Chairman Bair capped an incredible two-week run here in Washington, D.C., where nearly 1,000 REALTORS® met, planned, and acted on a single goal: Helping YOU in your businesses.
Here are just a few of the things we have been working on to help you:
• NAR continued our push to keep housing a top priority in the final economic stimulus bill expanding the tax credit to $15,000, and making permanent the 2008 GSE and FHA loan limits.
• NAR’s political and committee leaders met to formalize our 2009 policy agenda, based on a recent survey of all members. Not surprisingly, the economy, keeping banks out of real estate, and protecting the mortgage interest deduction top the list of priorities.
• I met with state presidents and association executives, and with the leaders of several minority real estate organizations, to get their thoughts on the major challenges our members are facing and what NAR can do to help.
• I participated in a satellite media tour to promote our housing stimulus plan on TV stations across the country. I also met with nearly a dozen reporters here in Washington, D.C., to promote our position on the economic stimulus package and other key issues, like banks in Real Estate.
• We made final preparations on our brand new consumer radio program, Real Estate Today, which will debut next week on XM Sirius and WMAL 630 in Washington, D.C. This program will help us bring consumers back into the market.
• NAR’s Strategic Planning Committee laid the foundation for our organization to move in new directions to help members in this new environment and in the years ahead.
• The REALTORS® Federal Credit Union Board met, and we are on track to open May 1 of this year, providing vital services to REALTORS.
• The Leadership Team also approved a new initiative to give you the Right Tools, Right Now to help you in your business. Look for more details on that later this month.
These are just some of the things NAR has been working on – both in public and behind the scenes – to help you, our members. I know many of you are working just as hard to address challenges in your communities. If you have ideas, let us know. You can comment right here on the Voices blog, or send an e-mail to presidentsreport@realtors.org.
It will take all of us to get through this difficult time and build a brighter future for all members. I promise that NAR will keep pushing harder than ever. I hope all of you will join us. – Charles McMillan, 2009 NAR President
I agree with the Leaderships’ direction on housing stimulous and would add that we need to pay special attention to items in the stimulous package which do not directly relate to the intent of the Bill. I believe it’s called “pork.” I for one would like to know exactly what “we” the people are paying for in lieu of what we “think” we are paying for.
Real time information regarding issues and tools needed in our business and the needs of our clients are crucial to a Realtor’s success. I applaud our Leadership for acknowledging this and prioritizing efforts to insure its timely delivery.
I agree with the Leaderships’ direction on housing stimulous and would add that we need to pay special attention to items in the stimulous package which do not directly relate to the intent of the Bill. I believe it’s called “pork.” I for one would like to know exactly what “we” the people are paying for in lieu of what we “think” we are paying for.
Real time information regarding issues and tools needed in our business and the needs of our clients are crucial to a Realtor’s success. I applaud our Leadership for acknowledging this and prioritizing efforts to insure its timely delivery.
Having just read your “Working for You” Post, all of your admirable efforts will be for naught unless our industry can legitimately justify our fees in this new economy. In order to do so, I believe, we must reinvent ourselves and become HIGHLY professionalized, including a college degree with continuing education, and require Realtors® to be committed to a FULL TIME Career.
In this new economy the public (our customers) owes more for their house than it’s worth; has lost 40-50% of their retirement funds; has been asked to become more responsible for their healthcare; can no longer afford higher education for their children; does not makes enough money to live comfortably; and, will soon be asked to give up a large part of their social security (or, as Washington now calls it: “their entitlements”). Trying to stimulate housing is admirable, but I think you’ve ignored a much bigger problem: How do we ask this (new) public to pay 5-6% of the value of their home to a Realtor® who can obtain a professional license in a week.
I heard on Good Morning America, just the other day, a report on new housing statistics from various medias. When reporting on the NAR numbers, they prefaced your numbers by defining NAR (solely) as a “lobbyist organization”. We know the public’s perception of a “lobbyist organization”. Like most lobbyist organizations, you’re focused on your “dues paying members” (like me). We dues paying members are drowning, not because of your lack of effort, but because the public has relatives, friends and neighbors, all who have easily obtained a real estate license, and know little to nothing about real estate, except the lucrative commission. The “new public” (our customers) can no longer justify this.
Last night our President said he was going out to the people, not to show Washington to the people, but to show the people (and their crisis’s) to Washington. I’d suggest we rethink our priorities, if you and I are going to have a future in this new economy.