Alabama REALTORS® Board of Directors Meeting Recap
May 31, 2022
The 2022 Alabama REALTORS® Board of Directors met on Thursday, May 19th at the Alabama REALTORS® Building in Montgomery. The Board reviewed the 2021 Annual Audit, discussed the status of the building mortgage, and conducted other Association business. Following the meeting, Directors held a mortgage burning celebration and enjoyed lunch and fellowship at AAR. A summary of the action can be found below:
- 2021 Audit Report: The Board of Directors reviewed and approved the 2021 Audit. The Audit report reflects a strong financial position for the Association going forward.
- Building Mortgage: The Association was able to retire the remaining debt on the Association’s building in April 2022. Paying the building debt will save the Association money in the long run and allow it to begin planning for future building maintenance and repairs as the building ages.
- REALTORS® Foundation: The Foundation’s 2022 Scholarship recipients were announced to the Board. The Foundation awarded 12 scholarships during its first year. Congratulations to all the students!
- ARPAC: The Board discussed the primary elections, ARPAC endorsements for statewide offices, the importance of the race for Alabama Supreme Court, and get out the vote efforts.
- Statewide Legal Forms: AAR’s Statewide Legal Forms have continued to grow in usage across the state from brokers and members who operate in more than one market. Feedback on the forms from members has been invaluable. AAR will make year-round updates to the forms as needed.
- Economic and Market Statistics: AAR is excited to be moving forward with the Statewide Economic and Market Statistics project. NAR has requested all states provide statewide market data as a member benefit and to bolster advocacy and consumer outreach efforts.
- Report from the Executive Committee: The Executive Committee reported on the progress of the affiliate membership options, Elections PAG, and goals for 2022.
- Economy, Inflation, and Rates: The Board discussed the volatility in the economy, inflation, rising interest rates, and impacts on real estate.
- NAR Update and Legal Report: The Board discussed updates from NAR’s Legislative Conference and a legal report on lawsuits that NAR is fighting on behalf of our members.
- AAR Annual Meeting: Registration for AAR’s Annual Meeting will launch in early June.
- AAR Officer, RVP, and Board of Directors: Applications for 2023 positions for AAR Officer, Regional Vice President, and Board of Directors will launch in June.
Thank you to all of the Directors who made the commitment to serve and conduct the business of the Association.