By Brian Summerfield, Online Editor, REALTOR® Magazine
It pays to be a REALTOR®. That was the message from NAR CEO Dale Stinton at the Board of Directors meeting Saturday at the 2009 Midyear Legislative Meetings in Washington D.C.
Addressing the board during the 2010 budget proposal presentation, Stinton said any REALTOR® who had maintained continuous membership between 1991-2010 would have paid $1,282 in total national dues.
“What have the last 20 years been like for you?” he asked the audience. “You’ve probably had your ups and downs, but you’ve probably had a good 20 years. What would you have paid for all the services you got [from NAR]?”
Stinton also explained how NAR stacked up against other national professional associations. While REALTORS® pay $80 in annual dues, auto workers pay $377, attorneys pay $399, and plumbers pay $449 each year for their respective associations.
And what do REALTORS® get in return for this investment? Stinton offered a by-the-numbers breakdown:
- Legislative/Regulatory/Advocacy: $30
- Economic and Tech Research: $6
- Publications (REALTOR® magazine and Realtor.org): $6
- Consumer/Member relationship building: $15
- Code of Ethics/Legal Policy Enforcement: $4
- Commercial/International Alliance Partnerships: $5
- State and Local Association Services and Support: $10
- Customer Service and Product Suite: $4
- Realtor.com: free
- Sentrilock: free
- The REALTOR® Federal Credit Union: free
- ePD (ePropertyData): free
- REFormsnet: free
- The REALTOR® Information Network (RIN): free
- The Real Estate Buyer’s Agent Council (REBAC): free
- Second-Century Initiatives (new technology ventures, consumer Web site): free
Stinton added that even in tough times, NAR would continue to invest in resources that would serve its members at a reasonable cost to them. To do this, he said the association would run a budget deficit (based on dues coming from a projected $1,060,000 members) over the next few years, making up the gap with its financial reserves.
“We’re focused on things that don’t cost you money but give you value,” he explained. “We’ve been saving for a rainy day, and now it’s raining pretty hard and we’re opening the umbrella.”