IN THIS ISSUE
INDUSTRY NEWS AND EVENTS
- Headline News
- Commercial Real Estate Sectors Remain on Sound Course
- New NAR Leadership Has Strong Commercial Experience
- NAR to Launch REALTORS® Federal Credit Union
- Reports to NAR Board Detail Initiatives, Financial Health
- Five $100 Gasoline Coupons to be given during CommercialSource
- REALTOR Volunteers Lend a Hand in Las Vegas
PUBLIC POLICY UPDATES
- NAR Supports SEC Move to Exempt Commercial Practitioners from Registration
RESEARCH, RESOURCES, LEGAL
- Associations: Apply Today for Grants to Support your Commercial Programs
- NAR Celebrates 100 Years with New Book
- Xerox Offers New Benefits to Members, Includes Bose Drawing
INDUSTRY NEWS AND EVENTS
HEADLINE NEWS
Headline News.
COMMERCIAL REAL ESTATE SECTORS REMAIN ON SOUND COURSE
Commercial real estate sectors continue to perform well with sound market fundamentals, according to a commercial market update and forecast presented at a forum on commercial business trends at the 2007 REALTORS® Conference & Expo in Las Vegas, Nov. 13. Lawrence Yun, NAR’s chief economist, expects vacancy rates to trend down in most commercial markets next year and said recent disruptions in the mortgage market have not had a similar impact on the commercial sectors. At the same time, Yun said confidence issues have been a factor in some of the cancelled or postponed transactions. “Not all commercial investors are immune to the psychological effects of Wall Street gyrations or credit concerns, but they should take heart in that pension funds have been increasing their allocation in commercial sectors,” he said. For more, visit this page.
NEW NAR LEADERSHIP HAS STRONG COMMERCIAL EXPERIENCE
Richard F. “Dick” Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, which specializes in commercial and residential transactions, was installed as 2008 president of the National Association of REALTORS® at the association’s Board of Directors meeting during the REALTORS® Conference & Expo in Las Vegas, Nov. 16. Charles McMillan, a REALTOR® from Irving, Texas, is 2008 president-elect. And Vicki Cox Golder, a REALTOR® specializing in commercial, farm and land brokerage, as well as building and development from Tucson, Ariz., is 2008 first vice president. Another REALTOR® specializing in commercial real estate, Robert Kulick, was installed as 2008 vice president and liaison to government affairs.
NAR TO LAUNCH REALTORS® FEDERAL CREDIT UNION
Recognizing the disadvantages that real estate professionals face in credit markets because of their irregular, commission-based income, the NAR’s Board of Directors, at its Nov. 16 meeting, approved the creation of a REALTOR®-friendly credit union. For more, visit this page.
REPORTS TO NAR BOARD DETAIL INITIATIVES, FINANCIAL HEALTH
In his address to the NAR Board of Directors, Nov. 16, 2008 NAR President Richard F. "Dick" Gaylord highlighted the need to reach out to younger practitioners in the industry and showcased NAR’s efforts to recognize younger members through the newly formed Young Professionals Network. The board heard an upbeat report on the financial health of the association, which has now reached 1.4 million members and has $300 million in total assets. The REALTORS® Political Action Committee is well positioned with more than $7.2 million in contributions for 2007. For more, visit this page.
FIVE $100 GASOLINE COUPONS TO BE GIVEN DURING COMMERCIALSOURCE
Among the convention prizes for CommercialSource 2007 will be gasoline cards. The online convention of REALTORS® Commercial Alliance runs from Dec. 4-6. This year’s convention offers a dynamic trade show floor and top speakers will present the latest on commercial market trends and issues. Featured speakers include entrepreneur Sam Zell, strategist Peter Linemann, and NAR Chief Economist Lawrence Yun. For more, visit this page.
REALTOR VOLUNTEERS LEND A HAND IN LAS VEGAS
REALTORS® are known for their commitment to building strong communities, and hundreds of them contributed their time and efforts to the greater Las Vegas community while attending the 2007 REALTORS® Conference & Expo here this week. For more, visit this page.
PUBLIC POLICY UPDATES
NAR SUPPORTS SEC MOVE TO EXEMPT COMMERCIAL PRACTITIONERS FROM REGISTRATION
The National Association of REALTORS® registered its support for the Securities and Exchange Commission’s actions to quickly approve NAR’s request for an exemption from securities broker/dealer registration. The exemption would allow commercial real estate professionals to provide real estate services to buyers during their consideration and purchase of Tenants-in-Common securities. For more, visit this webpage.
RESEARCH, RESOURCES, LEGAL
ASSOCIATIONS: APPLY TODAY FOR GRANTS TO SUPPORT YOUR COMMERCIAL PROGRAMS
The REALTORS® Commercial Alliance offers grants to state and local REALTOR® associations to subsidize the enhancement of commercial professional development. Apply for a 2008 grant today here.
NAR CELEBRATES 100 YEARS WITH NEW BOOK
NAR launched a yearlong celebration of 100 years of issues advocacy, industry advances, and professional acumen in real estate, during its annual conference and expo last week. A new book, The National Association of REALTORS®: 100 Years in Celebration of the American Dream, which provides an historical account of the real estate industry over the past 100 years and NAR’s involvement in shaping and transforming that industry, is now available on REALTOR.org. For more, visit this webpage.
XEROX OFFERS NEW BENEFITS TO MEMBERS, INCLUDES BOSE DRAWING
Members and association staff can lease any of the Xerox WorkCentre 7300 or 7600 multifunction products for creating professional-looking materials and receive 250 free color prints each month for the term of your lease under NAR's REALTOR Benefits® Program. The offer is good through Dec. 15. Also, order by that date for the chance to win a Bose Wave Music System and the 360 Degree Leader CD audiobook, a $520 value. Some restrictions apply. Call 800/ASK-XEROX, ext. 627, and mention NAR contract number 0706978 or go online to the REALTOR Benefits® Xerox page.
Report compiled by Barbara L. Hamlin, bhamlin@realtors.org, 312/329-8464. QUESTIONS on this report? Visit the INS FAQ and online feedback area on REALTOR.org. Click here.
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NATIONAL ASSOCIATION OF REALTORS®
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