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The Value of National Association of Realtors Membership:
Insights from Mike Ferrante, Cleveland Realtor
Hello Realtors! It’s Mike Ferrante, your go-to Realtor from Century 21 HomeStar, and I’ve got some important insights to share with all my fellow agents out there. In today’s blog, we’re diving into the often-debated topic of National Association of Realtors (NAR) membership. I’ve been seeing a lot of chatter about it, and I wanted to weigh in on why, as buyer and seller agents, you should care about being a part of this organization. Let’s jump right into it!
I was scrolling through my Facebook feed, catching up on the latest news (because, let’s face it, that’s where it all happens these days), and I stumbled upon discussions about various real estate companies distancing themselves from NAR. Redfin, Remax, and others were making moves to detach from the association, citing scandals and antitrust lawsuits. Now, a significant chunk of the conversation was dismissing the relevance of NAR. The sentiment seemed to be, “Who cares? It’s a waste of money.” But hang on, folks. There’s more to the story.
Top Three Reasons to Care:
Tony Geraci, the broker/owner of HomeStar, and I often conduct weekly training for our team – the 21 Mike team. Today, I want to share my top three reasons for caring about NAR membership. Tony’s got some strong feelings about this too, so stick around for his insights.
1. Realtor Code of Ethics:
Let’s kick things off with the cornerstone of our industry – the Realtor Code of Ethics. Imagine a world where this code didn’t exist. We’d all just be real estate agents without a set of standards guiding our conduct. Picture this: You put up a yard sign, and another agent, not bound by any code, decides to directly approach the sellers with an offer, bypassing you entirely. Chaos, right? The Code of Ethics is what sets us apart, ensuring honesty, integrity, and fair play. It’s the backbone of our profession.
2. Dispute Resolution:
Now, let’s talk about something not everyone experiences – dispute resolution. Many agents haven’t had to deal with this, and that’s a good thing. Why? Because our local, state, and national boards provide a system to resolve disputes, preventing them from escalating to court battles. Imagine the alternative – a world without these boards where every disagreement ends up in a lawsuit. Who benefits from that? Attorneys. The dispute resolution mechanisms in place save us from a legal Wild West.
3. Advocacy Matters:
Here’s the big one – advocacy. Some might think of it as lobbyists playing politics, but it’s much more than that. NAR fights for us on crucial issues. Think back to 2008 – the Economic Recovery Act, our deductions for real estate taxes and mortgage interest, and the ongoing battle to maintain our independent contractor status. These are not hypothetical scenarios. These are real issues that NAR addresses, protecting our livelihoods and the very essence of our industry.
In wrapping up this discussion, I want to emphasize that these are not theoretical arguments. These scenarios are real, and the work of NAR, Ohio Realtors, and our local boards directly impacts our daily lives as real estate professionals. While the criticisms about transparency and communication are valid, let’s not overlook the indispensable role these organizations play in shaping and safeguarding our industry.
Final Thoughts from Tony:
Tony Geraci chimes in with a few additional points, underscoring the importance of real estate boards, MLS membership, and the minimal financial investment required to maintain the health of our industry. He touches on the potential repercussions of removing dues, explaining how it serves as a barrier to oversaturation and helps sustain the entrepreneurial spirit in real estate.
In the end, whether you’re a seasoned agent or just starting your real estate journey, being part of NAR is more than just a membership. It’s a commitment to upholding the standards, resolving disputes amicably, and actively participating in the advocacy that safeguards our profession. So, the next time someone questions the value of NAR, you’ll have more than a few reasons to share.
Stay informed, stay engaged, and let’s continue building a robust and resilient real estate community in Ohio and beyond!
For more great Real Estate content:
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