Daily Real Estate News  |  September 28, 2005  |   Industry Raises Nearly $12M for Hurricane Relief The real estate industry has responded swiftly and generously to the devastation caused by Hurricane Katrina, contributing close to $12 million in cash donations toward relief efforts over the past month. That estimate doesn't include countless volunteer hours and donations of shelter and supplies made by real estate professionals, companies, and REALTORŪ associations throughout the country. Perhaps because those who work in the real estate industry so keenly understand the vast rebuilding that will be required of neighborhoods and professional lives, they have reached out in extraordinary ways to those in need. Many opened their wallets and contributed directly to the American Red Cross, Salvation Army, or the REALTORSŪ Relief Foundation, which is administered by the NATIONAL ASSOCIATION OF REALTORSŪ. But others helped out by holding unique fund-raisers, such as a hot-air balloon ride raffle, or by turning their office into a drop-off site for Hurricane Katrina food drives. “Everyone in the community has really responded to the need,” says Marie Emery, a broker with Coldwell Banker Heritage Real Estate in Phillipsburg, N.J., which established an account to raise money for animals affected by the hurricane. So far the brokerage has collected more than $3,500 for the Humane Society of the United States and the United States Equestrian Federation Inc. Although it’s impossible to fully tabulate all money raised by members of the real estate industry, a tally of published donations shows that the amount exceeds $11.7 million. The figure is even greater when you add in the volunteer hours and non-money donations contributed by real estate professionals to date. Of the total raised so far, the REALTORSŪ Relief Foundation has collected $4.4 million—with $1.2 million coming from state and local REALTORŪ associations. NAR has said it will distribute 100 percent of the donations to relief funds established by REALTORŪ associations in Louisiana, Alabama, and Mississippi to directly aid hurricane victims. Even thousands of miles away from the hurricane-hit areas, real estate companies were figuring out ways to help. Next Home Real Estate in Wasilla, Alaska, for example, raised $16,000 by holding a $100-a-person Cajun-dinner event. All proceeds are headed to the Salvation Army. National real estate franchises have stepped up in a big way, mainly by making sizable money donations and matching employees' contributions. One of the largest reported donations from a franchise to-date comes from Keller Williams Realty, whose charitable arm, KW Cares, has collected $1.85 million in donations. Weichert, REALTORSŪ, donated $1.3 million to the American Red Cross. Weichert also is offering real estate school scholarships to those whose professional lives were affected by the hurricane and “who may be considering a new career in real estate,” said Bill Spadea, vice president of career development for the company. Earlier this week, after returning from a two-week trip to the Gulf Coast, NAR President Al Mansell issued a letter to members, urging them to keep up their fund-raising efforts. “REALTORŪ contributions are making a tremendous impact on those affected, but it's clear that more will be needed,” he said. “We haven’t raised enough to meet the needs we anticipate. We need to raise more so that we don’t have to turn anyone away.” Mansell said the overall impact of Hurricane Katrina on the Gulf Coast real estate industry is still hard to assess, but total requests for emergency assistance are already in the millions and will continue to grow. As of this week, the Louisiana REALTORSŪ Association, the Mississippi Association of REALTORSŪ, and the Alabama Association of REALTORSŪ have received more than 4,200 applications from families and individuals in need, and have distributed nearly $900,000. The funds help cover mortgage payments and insurance deductibles, as well as the basic necessities of food, clothing, and rent. To contribute to the REALTORSŪ Relief Foundation, make a credit-card donation online by visiting the REALTORSŪ Relief Foundation Web Site. Or send a check, payable to the REALTORSŪ Relief Foundation, to REALTORSŪ Relief Foundation, Attn: NAR Finance Division, 430 N. Michigan Ave., Chicago IL 60611. —By Kelly Quigley for REALTORŪ Magazine Online