This is the second year I have attended the NAR Midyear conference in Washington DC. For the Charlottesville Area Association of Realtors (CAAR). Last year featured the Realtor Rally on the Mall with hopeful faces sensing a turn in the tide from the disastrous market Americans had endured for the previous five years. This year it was clear that the recovery is in earnest nationwide and Realtors are busy once again listing and selling houses. Concerns have shifted to low inventory, over-restrictive borrowing guidelines and the overwhelming quest for accurate data among all the resources consumers turn to for information on real estate.
There was standing room only for the results of the Realtor Rethink campaign that toured the country last year brainstorming with nearly 5000 Brokers and agents to gain a sense of the industry. The resounding message is change. Enormous change, as our old reliable business model of owning the information has disappeared and our value to consumers is now helping them interpret and understand the information by applying our knowledge and experience on their behalf.
There is a growing understanding that Realtor Associations on the National, State and local levels will be engaging the consumer to a greater extent especially on issues regarding property rights, legislation that encourages home ownership and the value of ethical, professional representation when engaging in the multi-facetted world of real estate.
“Historic moment” and “seminal event” were used to describe the changes the Rethink campaign will suggest to NAR leadership, who were all in attendance. Implementation will be a challenge to the old guard but the message has been delivered and received.
The conference continued through Friday with high level education, meetings with our legislators and an incredible opportunity to sense the industry through the conversations with engaged Realtors from all parts of America.