• I am proud of the work our members and leaders put into this process. They have worked hard to forecast the Association’s future needs, particularly around legal trends and the AAR building.
• Looking back several years ago, our leadership took proactive steps on the AAR building to cap interest rate exposure and eliminate the mortgage debt ahead of schedule. This allowed us to save significant money on the debt service and begin catching up with deferred maintenance. Without those actions, AAR would be facing a $2 million balloon payment in 2025—right now— while also managing a historically slow housing market, declining membership, higher interest rates, rising inflation, and ongoing building maintenance.
• We were seven years out on that project. This planning demonstrates the importance of not being complacent and looking ahead for future risks at the Association’s doorstep. By preparing early, AAR is positioned to navigate challenges and protect the long-term stability of the Association.
• We are excited to share more at our upcoming Board of Directors meeting.

Budget and Governance Proposals: Here is a brief overview of the 2026 Budget and Governance Proposals:

• 2026 Budget: The AAR 2026 Budget is based on projected revenue of $4.67 million and projected expenses of $4.5 million. The 2025 Budget is based on a membership of 17,625, which represents a 5% decrease from REALTOR® membership in July 2025. Notably, NAR is projecting a 15% decrease in membership for 2026. (The 2026 Budget Notes and 2026 Budget may be found on the BOD Resource Page)
• The proposed budget helps maintain AAR’s core mission and member services in Advocacy, Legal and Economic Development and be the leading resource for legal developments affecting real estate in Alabama.
• Motion 1: Dues Proposal Inflation: Historic inflation continues to have a negative impact on the association's revenue and expenses. To address this issue and maintain the same level of services for members in the future, AAR is proposing a 4% ($9) increase in dues. This proposal would take effect beginning January 1, 2026. (Motion 1 can be found on the BOD Resource Page)
• Motion 2: GRI Update: This proposed motion brings GRI course delivery into alignment with existing REBAC course structures, ensuring consistency in administration and accessibility. This approach allows local associations to leverage existing licenses, thereby enhancing efficiency, expanding educational opportunities, and providing greater value to members at the local level.. (Motion 2 can be found on the BOD Resource Page)
• Motion 3: Annual Conference: The proposed revision would realign the AAR Annual Conference with the Association’s core advocacy mission. Topics would include speakers on public policy, legal, and economic issues affecting our members, their businesses, and consumers. Costs for the event have grown in recent years due to high speaker fees and expanding topics. By aligning the program with AAR’s core mission, we can feature strong speakers at lower cost while still offering a fun, engaging, and high-quality event. This will keep the conference relevant, focused, and affordable. (Motion 3 can be found on the BOD Resource Page)

Please let us know if you will not attend the Board of Directors meeting. This meeting is for the 2025 AAR Board of Directors. Space and overflow seating will be limited. Parking will be available at the Association’s Parking lot at 502 Washington Avenue. The attire is business casual, and we will have lunch following the meeting at 12:00pm for the AAR Directors in attendance.

Please reach out to Melissa Williams or me prior to the meeting if you have any questions, comments, or suggestions.

Thank you for your leadership, support, and service on the Board! Warm regards,

Jeremy Walker