Signs of recovery may be emerging after an economic downturn that was both longer and more severe than most association leaders expected. But don’t exhale just yet. It’s time to get ready for life after the recession, which, experts say, may look starkly different than life before.
Every day, in each of our associations, we are living with the impact of the economy on our business—from membership levels dropping to the need to provide great services with fewer resources. Our communities, and the businesses of our members, have never relied on our expertise more than they do today. We must be relevant by providing services and benefits that will help practitioners not only survive, but thrive.
A Q&A wth Christine Todd, CEO of the Northern Virginia Association of REALTORS®.
Because the housing market has ebbed more than it has flowed in the past few years—causing reservoirs of new members, reserves, and assets to evaporate—the most American of things has occurred within REALTOR® associations: We’ve been forced to innovate.
Associations facing another year of shrinking membership and revenue need new ways to make money to fund association programs, pay staff, and stay viable.
During the past few years several associations have offered dues rebates to assist members who are struggling financially.