As the real estate market cools, associations fear losing members . . . and their dues dollars. Can event revenue fill the gap?
Event: Free cocktail reception for affiliates only
Host: Greater Syracuse Association of Realtors®
Cost: $1,200 Profit: $25,000 – $45,000
PRIce to Attend: Free
Strategy: Create and mail one invitation to affiliates
The number of local commercial real estate structures within local and state Realtor® associations has grown dramatically over the last five years. REALTOR associations across the country are seeing the advantages of launching an organization to provide programs and services for their commercial practitioners. Here are just a few of the advantages.
1. Grows your membership -- and your revenue.
2. Educates residential practitioners on the skills, experience, and background needed to be a successful commercial broker
Thinking of boosting your educational programming? You’re not alone. Many associations have been bulking up their course schedules in response to surging membership, the increasing complexity of the transaction, and increases in state continuing education requirements.
Associations add courses with an eye toward meeting member needs and generating important nondues revenue along the way. Maybe it’s time to ask, do your educational offerings make the grade?
by Paul Beakley
Affiliate outreach: associations offer their affiliate members more than just exclusive access to their membership.
At a recent Realtor expo in San Diego, the most popular booth didn't feature a title company or a mortgage brokerage; it featured a plastic surgeon. The showroom floor was lined with booths for jewelers, dentists, carpet cleaners--the list goes on. Only association members were permitted to exhibit, so how did such a far-flung assembly of businesses find themselves members of the San Diego Association of Realtors ?
As Terry McDermott closed in on his final months as NAR’s chief executive, he sat down with RAE magazine to share his thoughts on how association executives, association management, and the REALTOR® organization can be more successful in reaching out to members and improving the real estate industry.
By Lisa Walker & Norman Clark
"To transform an organization, one first must transform individuals. In an association, this may mean transforming yourself first."
Developing associations into leadership organizations takes more than reading an inspirational book or attending a high-powered seminar.
Organizational leadership requires that people move away from behaviors that stifle individual initiative and accountability and adopt behaviors that promote individual and group effectiveness.