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2017-Annual-Report-2014.Pdf YOU ARE NAR NATIONAL ASSOCIATION OF REALTORS® 2014 ANNUAL REPORT Table of Contents One Million Strong ................................................2 The Trusted Source ................................................4 Protecting Your Business ..................................... 12 Engaging REALTORS® for Action ........................ 16 Brand Advantage............................................... 22 Raising the Professional Bar ............................... 30 Membership Dues and Assessments: How Your Dues Are Used .................................... 34 2014 NAR Leadership ......................................... 36 1. | NATIONAL ASSOCIATION OF REALTORS® 2014 Annual Report | 1. ONE MILLION STRONG One Million Strong THE NATIONAL ASSOCIATION OF REALTORS® IS AMERICA’S LARGEST TRADE ASSOCIATION—THE VOICE FOR REAL ESTATE®— REPRESENTING MORE THAN 1 MILLION MEMBERS. Members of the National Association of REALTORS® are involved in all aspects of residential and commercial IN 2014 real estate, and all are bound by a Code of Ethics that sets them apart from nonmember practitioners. REALTORS® produced a bold new strategic plan; set standards of “We count on you to act when your Legislators, policymakers, and the media professionalism for 1,400 state industry needs you. You can count on your turn to NAR as the go-to source for and local REALTOR® associations; authoritative and objective information and explored the idea of an association to give you the tools you need about real estate and the economy. NAR’s aspirational commitment to succeed.” strength in numbers also translates into to excellence designed to benefits of membership, from publications ensure NAR members meet the STEVE BROWN and data tools exclusively for members changing needs of consumers. NAR PRESIDENT to buying discounts and special offers on a range of products and services. 2. | NATIONAL ASSOCIATION OF REALTORS® 2014 Annual Report | 3. THE TRUSTED SOURCE The Trusted Source WHILE THERE ARE MANY TOOLS THAT SEEK TO HELP HOME BUYERS AND SELLERS, THERE’S NO REPLACEMENT FOR A REALTOR® WHEN IT COMES TO PROVIDING EXPERTISE AND ACCURATE DATA. REALTORS® provide real insight. They’re the most trusted voice on the value of property rights and home ownership, real estate trends, and the impact of public policy decisions on property values. NAR shared that message with consumers throughout 2014, achieving 145 billion consumer impressions through an integrated campaign that included: “In partnership with the National Association of REALTORS® and its 1 million members, we look forward to turbo-charging realtor.com® Media Advertising Direct-to-consumer Social media and making it the most popular and profitable outreach communication engagement property site in America.” At the same time, NAR advanced the industry through highly regarded, closely Speaking to REALTORS® via satellite, ROBERT THOMSON, CHIEF tracked economic indicators and produced market research unavailable elsewhere. EXECUTIVE OF NEWS CORP November 2014 4. | National Association of Realtors® 2014 Annual Report | 5. NAR SHARE OF VOICE ADVERTISING The association was the leading voice in the media NAR’s advertising campaign featured interviews with buyers NAR kicked off on four key topics, garnering more than 50 percent The campaign talking about the value of REALTORS® and realtor.com®. The “Conversations with Real of the coverage on all four topics and nearly all the reached the campaign reached the target audience—consumers 25-54 Insight,” hosting a live- coverage in the important arena of public policy. who were likely to buy or sell a home in the next 12 months—an target audience: streamed conversation average of 35 times in 2014 using popular prime time network, between NAR President NAR OTHER consumers 25–54 cable, and sports programming; music, news, talk, and sports Steve Brown and HUD (Case-Shiller, Trulia, Zillow, National Association who were likely radio; and digital advertising. of Home Builders, Realtor.com, Redfin) Secretary Julian Castro. to buy or sell a An online tool kit walks 97% home in the next Local and state associations—and members—also had the opportunity to customize the ads for their audience, further state and local associations 3% 12 months. through the process of amplifying the message about REALTOR® value. PUBLIC POLICY developing their own “Real Insight” events. 88% 12% SOCIAL MEDIA ENGAGEMENT REALTOR® VALUE NAR reaches REALTORS® and consumers every day through its many social media channels. 65% 35% REAL ESTATE DATA 58% 42% The association NAR Social Media Subscribers, 2013—2014 HOME OWNERSHIP achieved significant growth in subscribers FACEBOOK TWITTER LINKEDIN to its main social 66% 66% Growth Growth MEDIA OUTREACH media channels 1M 80% OF NAR in 2014. 80K NAR was mentioned in COVERAGE WAS FACTUAL AND 60K 90,786 NEUTRAL. articles, generating 16% 19% WAS 40K Growth POSITIVE. 19.8 BILLION positive impressions in 2014. 20K 1% WAS CRITICAL. 0 2013 2014 2013 2014 2013 2014 6. | NATIONAL ASSOCIATION OF REALTORS® 2014 Annual Report | 7. DIRECT-TO-CONSUMER COMMUNICATIONS REAL ESTATE TODAY In its seventh year on the air, NAR’s official radio program was on HOUSELOGIC.COM nearly 200 radio stations, including the top stations in the nation’s NAR’s website for home owners offers valuable information that top markets. REALTORS® can use in their own communications with customers and prospects. TOP STATIONS IN THE NATION’S TOP MARKETS WRKO WLS BOSTON CHICAGO In 2014, WABC SOCIAL MEDIA TRAFFIC NEW YORK houselogic.com KABC LOS ANGELES WBAP achieved 11 million 85% DALLAS visits (up 30% of consumers have 2013 access to the show on a local radio station. WMAL from 2013). WASHINGTON, DC Social Media 2014 traffic up 270% 176 RADIO STATIONS IN ALL 15,000 Listeners get weekly updates, as well as tips on real estate buying, ® ® selling, owning, investing, and maintenance—and the show is SEARCH TRAFFIC REALTORS , REALTOR associations, and always 100% pro-REALTOR®. MLSs embed the REALTOR.COM® 2013 “Real Estate Today” For consumers who are thinking about buying or selling a home, audio player on realtor.com® is the most accurate national database of homes for sale. NAR owns the domain name; San Jose, Calif.-based Search their websites. Move Inc. owns and operates the site. In November 2014, the 2014 traffic up global media company News Corp acquired Move with a 130% commitment to work closely with REALTORS® to make the site the No. 1 real estate destination online. 8. | NATIONAL ASSOCIATION OF REALTORS® 2014 Annual Report | 9. AUTHORITATIVE RESEARCH NAR’s monthly existing-home sales and pending home sales index are closely watched by government agencies, the news media, and the public. The association also tracks median home prices and affordability nationally, regionally, and in 174 metropolitan statistical areas, and it produces a wide range of original research. NEW STUDIES RELEASED BY NAR IN 2014 PROFILE OF INTERNATIONAL HOME BUYING ACTIVITY Examines purchases of real estate in the United States by international clients, and the use of REALTORS®’ services COMMERCIAL REAL ESTATE LENDING SURVEY Provides insights into REALTORS®’ commercial financing conditions, and details liquidity conditions, market impact and funding sources MORTGAGE ORIGINATORS SURVEY Asks a sample of mortgage lenders about the impact of new regulations on their business and how the rules could impact consumers “We used to use a fill-in-the-blank template for our newsletter but didn’t get much OVERVIEW OF LAND MARKETS response. Doing our own, and using NAR Conducted biannually with the REALTORS® Land Institute to data, we get a lot more feedback and, quite identify trends in land markets and the general state of land sales frankly, more leads turn into listings. That’s RICHARD CHASSÉ, the name of the game.” GLENDALE, ARIZ. 10. | NATIONAL ASSOCIATION OF REALTORS® 2014 Annual Report | 11. PROTECTING YOUR BUSINESS Protecting Your Business DEEP POLITICAL EXPERTISE AND ONE OF THE STRONGEST POLITICAL ACTION COMMITTEES IN THE NATION GIVE REALTORS® A PLACE IN CRITICAL LEGISLATIVE AND REGULATORY DISCUSSIONS. In 2014, NAR-backed issues were one of the bipartisan bright spots in Washington. Among other things, NAR helped preserve affordable financing for rural communities, restore control to flood insurance premiums, and extend mortgage debt tax forgiveness for consumers who had experienced a foreclosure or short sale. “Without the Sec. 502 rural housing loan, home ownership would be impossible in our community for many households who have the ability to make monthly payments but can’t come up with much VICKIE DAVIS of a down payment.” VAN BUREN, ARK. Vickie Davis’ community was in jeopardy of losing RHS’s rural designation 12. | NATIONAL ASSOCIATION OF REALTORS® 2014 Annual Report | 13. PRESERVING AFFORDABLE FINANCING ELIMINATING UNFAIR PREPAYMENT PAVING THE WAY FOR DRONE USE IN RURAL COMMUNITIES PENALTIES NAR worked with the Federal Aviation Administration NAR helped protect the availability of Rural The Federal Housing Administration agreed to ensure that future regulations enable the Housing Service-backed Sec. 502 mortgage in August to eliminate post-payment interest commercial use of drones in real estate. Proposed loans by working with Congress to extend charges on FHA-insured single-family mortgages. rules, released for public comment in February 2015, the existing definition of “rural” until the 2020 The charges amounted to a prepayment penalty would allow use by real estate practitioners. LEGAL ACTION PROGRAM Census. Under
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