Following is a review of issues that are being dealt with which may affect your daily lives which relate to your work and the Citrus Valley Association of REALTORS. First and foremost on our horizon is the membership change we will see in 2008. We stand 5500 members strong today, but with the current set of market conditions, we are projecting a 10 to 15% reduction in membership. We have established this next year’s budget planning for this decline in membership. Thomas Baldwin and the Finance Committee have left no stone unturned in reducing expenses and planning other sources of income. In 2008, we will continue to operate in a fiscally responsible manner. Our Association’s success this next year will lay in our ability to continue to attract new members seeking a career in Real Estate. As you may know, the average age of the Realtor today is 51 years old (as it was in 1949, by the way). Ours is a “baby boomer” wave, but really we need to start surfing another wave, the growing numbers of young “Gen Y” professionals. Us “Old Goats” think and work differently than the youngsters do, They don’t live to work, and they work to live their lifestyles. We think we can do a decent job in attracting this demographic through social and professional efforts. Our new Executive Officer, Emily Schwartz, is eager to get started in mobilizing our Association to meet the needs of this next breed of professionals. To keep our numbers strong, we also will be adding value through our continuing efforts to enforce the code of ethics. In addition, as a national association, we will be spending close to $40 million in public awareness campaigns. If you haven’t heard yet, we are really breaking the mold this year by spending $13 million on starting a REALTOR credit union. As it should be, our commissions may be considered as income when applying for a loan.
A conversation regarding the state of the Association would not be complete without addressing the 500 pound gorilla in the closet: The Economy. The Sub-Prime crisis is at hand with more loans resetting every day. Oh yes, times have not changed. Real estate is still cyclical, and the change will continue this coming year. We need to get this ship upright and moving forward again. Or as we said in my past aviation career, we need more airspeed, more altitude and more gas in the tank! Since the beginning of the year in 2007, NAR has been working with Congress and regulators to help stabilize the mortgage markets and ease the credit crunch through several different efforts: Modernizing FHA guidelines, ensuring availability of affordable insurance, and this one I like: Lobbying to eliminate taxes on “ phantom income” on debt cancelled by mortgage lenders. I mention NAR’s efforts because this is the heavy hitter that really can persuade the lawmakers in the right directions to strengthen home ownership policies in our nation. As a member of the Association you get three great Associations to partner with, the Local, the State and the National. ‘Nuf’said.
As long as we are on the subject of change, let’s discuss the Internet. Today, sellers and buyers are taking control of the home sales process through the Internet. It’s called Web 2.0, The consumers are dictating where we present the information, how we deliver the information and in addition they want to tell us how much to charge for the information. Don’t’ feel singled out. Every product market is experiencing this phenomenon. Our MLS is in the cross hairs with sites like “postyourproperty.com” Zillo.com and here is a new one… secondlife.com (8 million members strong). But don’t quit your REALTOR daytime job just yet; we are going to continue being the valued provider of real estate services. We are still about being the gate keeper, the information hub and the negotiator for all parties. Our position will remain strong, because as a member of an Association we all benefit from joint efforts to provide our clients with what they seek with tools like REALTOR.COM. REALTOR.COM gets the most customers with 6 million hits a month, has the most content with 4.3 million listings and people spend the most time there. And let’s not forget about the cool stuff like the ability to load high def. photos, Iphone integration and the “wikihood” (check it out on REALTOR.COM). We are active in Web 2.0 at the local level also. To help us navigate through Web 2.0, our leadership has moved forward with selecting an MLS Committee which is heavy with office broker/owners. Ed Combs has been tasked with chairing this committee. Their charge is to provide feedback and direction to the MRMLS that will protect your listing information so that we continue to be the valued source of information, not the cheap provider of the information.
As the vision states, we want to be the recognized and respected voice in and central resource for the real estate industry. Our mission will continue to be providing professional development, set high standards in ethics and best practices. Most importantly, we need to continue to dedicate ourselves to preserving and protecting real property rights. We should all get out our pencil and paper in 2008 and write down how we will take on our new year of opportunities. First things first; everyone, get your resolutions declared! At the Association, our new years’ resolution is to strive toward this vision, to be the leaders in providing an Association that everyone can be proud of.
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January 2008 President's Message
The Citrus Valley Association of REALTORS is recognized and respected as the leading voice and central resource for the real estate industry, where REALTORS come to organize, learn, share, and grow. This is the Association’s Vision Statement. It’s a vision worth living up to in this coming year of challenges. The directors resolve to deliver our members the finest Association services ever.
Written By: Aaron Cole
Date Posted: 12/20/2007
Number of Views: 401
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