In episode 221 of The Real Word, Byron and Nicole discuss the increase in the National Association Of Realtors dues, where exactly NAR spends the bulk of their money, and the new streamlined offer management and communication service for listing agents.
Agents React to NAR Fee Hikes
Byron and Nicole dig into The National Association of Realtor’s approval of a $10 increase in dues and what it means for the average agent. News of the increase has caused heated debate and mixed reactions from agents across the country.
Dues will increase in 2023 and have been renewed until 2027, which is two years longer than usual. While some agents believe the increase is a small price to pay for more TV commercials and exposure, others don’t see the value of NAR increasing membership costs to advertise the promotion of realtors in general.
Other agents, such as Brian Weiser, think that the increased fees from a top-heavy organization that ‘doesn’t do much’ are unwarranted. Byron and Nicole also discuss their opinions on the mandatory membership in NAR and acknowledge how some agents may feel cornered by these requirements. Nicole thinks that while it’s lovely that NAR is investing in realtors, she doesn’t necessarily feel like they’re investing in agents on a personal level.
Where is NAR Spending Your Money?
In a 2016 Inman article, Amber Taufen documented how NAR spends most of its money on employee compensation. Byron revealed that NAR is still not saving any cash by increasing its dues.
Byron and Nicole investigated the claims that directors of NAR are paid close to a million dollars a year. The pair go down a rabbit hole of tax records from the company and reveal the huge paychecks that NAR CEOs, comptrollers, lobbyists, and vice presidents have received. Byron discusses whether or not he believes retired CEO Dale Stinton should still be making close to $4 million.
Streamlined Offer Management and Communication for Listing Agents
The Marketeer of the Week is ShowingTime, which boosts listing agent productivity, and streamlines communication with sellers and buyer’s agents. The service allows buyer’s agents to upload their offers into the system and has revolutionized the way listing agents can compare offers and respond to them. ShowingTime takes the emotion out of declining an offer and notifies agents on their offer status of them quickly and efficiently.
Gone are the days of buyers agents frantically sifting through emails to ensure they haven’t missed an offer while buyers agents complain about not hearing back soon enough.
Get ahead of the curve and keep all of your offers in one place by using ShowingTime today!
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