President’s Report: NAR Update from NERC

I recently attended the New England REALTOR® Conference in New Hampshire and there’s a lot of really good news to report, some of which concerns the Commitment to Excellence. This is a new program that’s being offered by NAR to our members that goes beyond the Code of Ethics to increase and improve professionalism among REALTORS®. There’s going to be a mentoring program and a data privacy component, as well as advocacy and technology components, and if you participate, you will receive a Badge of Excellence.

Next, the National Association of REALTORS® is monitoring housing finance reform. This is important because NAR’s research shows that millennials on average are putting off a home purchase for seven years because of high student loan debt. This is something we really want to pay attention to in the short term because it could have long term implications for our industry. Something is going to have to be done concerning student loan debt on a policy level.

Also, on February 12th of this year, the White House unveiled a $1.5 trillion infrastructure program which could impact housing affordability. In many metropolitan areas affordability is an issue. Investments in affordable housing infrastructure can create new jobs and thereby support and boost the local economy so this is a critical issue.

Next, we are proud to announce the Center for Financial Wellness, a free program for all REALTORS®. REALTORS® don’t receive a regular paycheck. We go out and we work hard every day, but we don’t have the benefit of getting paid every week. This website has tools that will help you plan for your future, so you’re not always living paycheck to paycheck. Whether you’re a new REALTOR® or a seasoned REALTOR®, check out the website, FinancialWellness.Realtor.

NAR also announced that we have contributed to, and been the benefactors of, a strong economy. We’ve had eight years of job increases, unemployment has been at historic lows, the stock market has hit record highs, net worth is increasing, and finally, after ten years, real wages have been increasing.

Finally, the NAR Conference will be held in Boston this November. There’s a lot of great information there so go to the website to get all of the information, learn about the programs and buy your tickets and register. We’re going to have buses running up to Boston from Rhode Island on Friday and Saturday so you don’t have to deal with parking or traffic so contact Sabrina DeRensis at 401-432-6934 if you’re interested in reserving a seat. I’m looking forward to having the conference nearby and I hope to see you there!

Watch the President’s Report video.

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