NAR Legislative Meetings 2019 Recap
May 21, 2019
REALTORS® attending the 2019 NAR Legislative Meetings & Expo were honored with an hour-long address by President Donald Trump on Friday, May 17, the first time a sitting president has made an appearance at a REALTORS® convention since 2005. When he introduced the President, NAR President John Smaby noted, “I can think of no better way to wrap up our time in Washington than by sharing our REALTOR® story with our nation’s chief executive. A longtime real estate developer, President Donald Trump knows how real estate drives economic growth, creates jobs, and benefits the country as a whole.” During his hour-long address, President Trump touched on a number of issues including the economy and unemployment, infrastructure improvement, and federal housing finance reform. Click here to see President Trump’s address in its entirety. (President Trump’s attendance does not suggest a political endorsement by the National Association of REALTORS®. Each year, NAR extends an invitation to the sitting president to speak to REALTORS® during the legislative meetings.)
The Board of Directors had a full agenda for their meeting on Saturday. The Board also elected NAR’s officers for 2020, including Charlie Oppler (NJ) as the 2020 President-Elect and Leslie Rouda Smith (TX) as 2020 First Vice President. The Directors approved the 2020 NAR budget, based on annual dues remaining at $150, and a recommendation from the Finance Committee that NAR maintain a 50% gross operating expense reserve, with a target of a 75% reserve. The Directors also approved a three-year extension of the $35 per year special assessment for the “That’s Who We R” national ad campaign.
The Directors also approved a number of motions from committees. Among them was a revision of MLS policy to permit REALTOR® association-owned MLSs to charge those subscribers who do not hold primary or secondary membership in the association a different amount provided that any increase is reasonably related to the actual cost of serving these individuals; an amendment to shorten the timeframe for change of jurisdiction requests and to allow for an electronic hearing process; and, a change to professional standards practice 1-7 to clarify that the practice of providing a timely written affirmation to the cooperating broker is a tool to reassure buyers and cooperating brokers that offers were handled properly.
The Alabama REALTORS® hosted two special events during the Legislative Meetings. The first was a welcome reception to honor Alabama’s NAR RPAC Hall of Fame inductees Janet Brittain, Melissa Morrissette, and Tom Owings. The second was our annual legislative reception on Capitol Hill. We were honored that Senator Richard Shelby attended and spoke to the more than 100 Alabama REALTORS® who were in Washington, DC for this year’s legislative meetings. Due to President Trump’s address on Friday, the Alabama Caucus was cancelled.
The Alabama Association of REALTORS® (AAR) is the largest statewide organization of real estate professionals comprised of over 15,000 members from 25 boards and 1,200 real estate companies. United by adherence to a Code of Ethics, our members work as real estate professionals in the sale, lease, appraisal, management, and development of residential, commercial, rural, and resort properties throughout Alabama.
The National Association of REALTORS® was founded in 1908 and is America’s largest trade association with approximately 1.3 million members including NAR’s five commercial real estate institutes and its societies and councils. REALTORS® are involved in all aspects of the residential and commercial real estate industries and belong to one or more of some 1,400 local associations or boards, and 54 state and territory associations of REALTORS®.