Leadership Report

Leadership Report

November 2017

Association News & Departments:

Professionalism: Leadership AAR will return in 2018! Watch the AAR website for announcements on the spring “Fair Housing for All” course schedule, as well as upcoming GRI and REBAC offerings.

Legal: The Legal Helpdesk is one of the most popular features our website and in the weekly newsletter, Real Estate Alabama. Submit a question or read one of the past articles here.

Public Policy: Preparations are underway for the 2018 Legislative session following the Public Policy Forum, AAR is seeking an NAR Issues Mobilization Grant to help support the effort in Alabama for a First Time Homebuyer’s Savings Account proposal that would allow individuals to save and grow funds for homeownership.

Legislative Session Starts: January 9
2018 State Elections: Primary Elections are on Tuesday, June 5.
In 2018, all 140 Legislative House and Senate seats and constitutional offices are up for election.

ARPAC: ARPAC fundraising as of October 31, 2017 stands at $717,815.97 or 120% of goal, with 210 Major Investors.

Association Financials and Assets:

Building: Work is ongoing to waterproof and repair the roof leaks on the building. Great progress has been made. The work is extensive and will take another 2-3 months to complete.

Finances: The financial condition of the association continues to improve. There is a projected general fund surplus of approximately $600,000 in 2017. Reserves are at 6.4 months of operating expenses. The Association received a positive report on the 2016 Audit and total association net assets are $6,176,937.

Investments: UBS has been hired to manage approximately $3M of the Association’s assets in a 100% CD portfolio, with an annual rate of return of 1.3 to 1.4 percent. All funds are FDIC insured, and there are no management fees for a CD-only portfolio.

Association Governance:

NAR Annual Convention: NAR codified the three-way agreement in advocacy and the public policy arena, in support of the objective to be of one voice at the local, state, and national levels. They also approved MLS of Choice to give brokers and agents greater choice in joining more than one MLS. A summary can be found here.

AAR Annual Convention: 53 amendments to Policies & Procedures and 6 amendments to Bylaws were passed at the BOD and membership meetings, respectively. A summary can be found here.

NAR Core Standards Third Cycle Certification by the state Association: Certification is on-going. 16 boards and the state association have been certified.

2018 Dates to Keep in Mind:

  • February 5-6 AAR Capitol Conference in Montgomery. The program will focus on leadership
    training with Adorna Carroll and Bruce Aydt. REALTOR® Day will be the afternoon of the 6th. More
    information can be found here.

  • March 20 NAR Tech Edge, which focuses on ways to implement technology trends in support of
    our businesses. Advance registration fee is approximately $49. More information can be found

  • May 14-19 NAR Mid-Year Meeting in Washington D.C.

  • August 5-7 NAR Leadership Summit in Chicago, IL.
  • August 21-22 AAR Public Policy Forum in Montgomery, AL.

  • October 14-16 AAR Annual Convention in Montgomery, AL.

  • November 2-5 NAR Annual Convention in Boston, MA.