Key Issues for Board of Directors Meeting
Below is NAR President Tom Salomone's letter outlining key issues to be discussed at the Board of Directors meeting at the 2016 REALTORS® Legislative Meetings & Trade Expo on Saturday, May 14.
Download this letter (PDF: 683 KB)
May 4, 2016
Dear Director of the National Association of REALTORS®,
I look forward to welcoming you to the 2016 REALTORS® Legislative Meetings & Trade Expo. Thank you for making the time to join us in Washington, D.C.
Next week is going to be a busy week — but it is also going to be an exciting week, especially for directors. Not only are we gathering in our nation’s capital to familiarize our elected officials regarding our issues, reminding them that REALTORS® are committed to protecting both the American Dream of homeownership and the commercial sector of our industry, but as directors, we have another important task at hand. It is our duty to govern the Association, a responsibility that we must not take lightly.
Summarized below you will find important information to help directors prepare for next week’s meetings — including a summary of each of the key issues that we anticipate will be presented during the Board of Directors Meeting on Saturday, May 14. Please take the time to review this information carefully.
Directors are encouraged to attend the NAR 360° program on Tuesday, May 10 at 4:00 pm. This forum officially kicks off the REALTORS® Legislative Meetings & Trade Expo and provides an excellent overview of the issues shaping the future of our industry and other events of the week.
BOD Check-in counters will open at 7:00 a.m. on Saturday, May 14. This is thirty minutes earlier than previous meetings. New voting technology will be utilized at this year’s Board of Directors Meeting and the earlier start time accommodates polling device distribution. At Check-in, each director will receive a voting device with a personalized voting smartcard, as well as pertinent meeting documents. Directors must provide a government-issued photo ID, which will be verified against the 2016 Directors roster. As a reminder, director resignations and/or changes to a director name on the Board roster will be accepted by NAR up to 4:00 p.m., Friday, May 13. No changes to the roster will be accepted the morning of the Board meeting.
All directors must be checked in by the time the BOD meeting is called to order promptly at 8:30a.m. Directors can view the final meeting agenda and documents after 8:00 p.m on Friday, May 13th at www.realtor.org/bodmaterials.
2017 First Vice President Election
On Thursday, May 12, NAR will hold a Candidates’ Forum from 1:00 p.m. to 2:00 p.m. in the Marriott Wardman Park, Marriott Ballroom. Eligible Candidates for 2017 First Vice President, JoAnne Poole, Maryland, and John Smaby, Minnesota, will share their vision for the National Association of REALTORS®. NAR Directors are encouraged to attend this forum.
As required by the NAR Constitution, the election of officers will be the first order of business conducted by the directors at the Board of Directors Meeting. Directors will vote on the following offices: 2017 Regional Vice Presidents, President–elect, Treasurer, and 2017 First Vice President.
2017 Operating and REALTOR® Party Budget & the 2017 Capital Budget
2017 is the first year of the Association's 2017-2019 three-year budget cycle. This will allow the Association to continue its mission of providing exceptional high quality programming and services to address the current and future needs of its members. The Operating and REALTOR® Party budget reflects net income of $56,936. No dues increase is requested.
Directors will be asked to approve the Operating and REALTOR® Party Budget for 2017.
View the Budget Proposal here (member log-in required)
2017-2018 RPAC National Fundraising Goal
The RPAC Disbursements Trustees Committee and the RPAC Fundraising Trustees Committee will provide the Board of Directors with a recommendation for the 2017-2018 election cycle RPAC national fundraising goal, to be split evenly over the two years. State/Territory REALTOR Associations’ RPAC goals for recognition will be pro-rated based on a membership count as of October 31, 2015 for 2017 and 2018. The RPAC national fundraising goal is presented bi-annually in even numbered years for approval by the Board of Directors to take effect the following year for a two-year election cycle.
Directors will be asked to approve the RPAC national fundraising goal for 2017-2018.
Proposed Enhancements to the NAR Core Standards
The Core Standards Work Group of the NAR Association Executives Committee proposes a number of enhancements to NAR’s Organizational/Alignment Core Standards. Proposed enhancements aim to further raise the bar for all REALTOR® associations, and to further increase the relationship between the local and state associations and NAR. If approved, the Core Standards will transition to a calendar year compliance schedule, and the third cycle will be a transitional 18 month cycle, beginning July 1, 2016, and ending December 31, allowing more time for compliance for those associations that may be challenged to meet the proposed enhancing requirements.
Directors will be asked to approve recommendations for enhancements to the current Core Standards, the corresponding compliances policies and procedures, and the noncompliance hearing appeal procedures. Documentation outlining each change will be provided.
Homebuyer Savings Account Policy
State level homebuyer savings accounts are a tool supporting homeownership. Typically, these accounts are used for first time homeowners or returning homebuyers. Programs exist in two states and legislation is currently being considered in others. Saving for a down payment and closing costs is challenging in today’s economy; a homebuyer savings account provides an opportunity to save and grow funds.
NAR’s State and Local Policy Committee recommends approval of the Homebuyer Savings Account Policy: NAR supports homebuyer savings account programs established at the state level and urges states to adopt such plans. NAR believes individuals or families saving for homeownership should be able to put a percentage of income or a maximum amount of funds into an account that is tax free to be used within a specified amount of time for the purchase of a home.
Directors will be asked to approve and adopt the recommended Homebuyer Savings Account Policy.
2017-2019 Consumer Advertising Campaign Special Assessment
NAR’s Consumer Advertising Campaign is an integrated consumer communications effort that promotes real estate activity and advances the REALTOR® profession. The campaign engages consumers through TV, radio, social and digital media channels, and allows NAR to speak directly to consumers while delivering unfiltered messages in support of REALTORS® business.
NAR’s Consumer Communications Committee recommends continuing an assessment in the amount of thirty-five dollars for each of the years 2017, 2018 and 2019. The funds raised by the special assessment will be used to continue the Consumer Advertising Campaign for the next three years.
Directors will be asked to continue the Consumer Advertising Campaign Special Assessment.
Thank you again for making the time to be with us in our nation’s capital. NAR Directors have a vital role in the management of our Association. Your participation is guiding NAR’s strategic direction, and you are helping to shape the future of our industry. Your involvement makes a difference.
2016 NAR President