Realtor association leaders play a pivotal role in setting up their organizations for future success. We stand today on the shoulders of past leaders, and it is our duty, as it was with our predecessors, to pass along an organization equipped for the future.
In a recent article on the ASAE’s website, Jeff De Cagna, executive advisor for Foresight First LLC, offered insights on the duty of foresight provide a valuable framework for navigating the complexities of association management. According to De Cagna, by understanding and applying the principles of the BANI framework—Brittle, Anxious, Nonlinear, Incomprehensible—leaders can guide their associations through uncertain times with confidence and resilience. Let’s consider how that applies to the real estate profession.
Our Responsibility of Attention
Leaders must be vigilant; continuously scanning the horizon for emerging trends and potential disruptions. This proactive approach is vital for identifying challenges early and addressing them effectively.
Real-World Example: Naturally, a local realtor association should stay informed about housing market trends, economic shifts, regulatory changes, advocacy opportunities, and even potential mergers. By regularly conducting market and association analyses and engaging with industry experts, the leadership can anticipate shifts and adapt their strategies, ensuring they provide relevant support and resources to their members.
Our Responsibility to Adapt
Adaptation is essential for realtor associations to stay relevant. By fostering a culture of continuous learning and flexibility, organizations can pivot and thrive amidst changing circumstances. This does not come naturally but through proactive conversations and bold changes. It’s true that change may be uncomfortable for some however, reminding them that the status quo is the enemy of progress.
Real-World Example: Realtor associations face changes in technology used in real estate transactions. Our entire industry is facing significant changes now as we comply with the settlement. New forms are being introduced and new best practices and policies and procedures will need to be developed. In addition, by offering ongoing professional development opportunities and encouraging members to embrace tools like virtual tours and digital contract signing, the association can help realtors adapt to emerging business environments and enhance their service quality.
Our Responsibility to be Resilient
Building resilience through anticipation involves preparing for future scenarios. This means not just reacting to changes but also strategically planning for them, ensuring the organization is equipped to manage various potential futures.
Real-World Example: A realtor association might anticipate future challenges related to market downturns or shifts in consumer behavior during its annual leadership retreat. By developing comprehensive contingency plans and conducting regular scenario planning exercises, the association builds a strong culture of unity with a commitment to support its members and advocate for effective policies during times of change.
Conclusion
Local realtor association leaders must embrace the duty of foresight to navigate the complexities of today’s world and ensure their organizations’ future success. By focusing on attention, adaptation, and anticipation, leaders build resilient associations that thrive in an unpredictable environment. The key lies in leading with foresight for lasting success by fostering a culture of planning, intentional learning, continuous adaptation, and robust anticipation.
Taylor Oldroyd is CEO of Arbor Realtors, with offices in Arlington and Waxahachie, Texas.
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I like that this writer appears to recognize the universal truth that “all real estate is local.”
It would have been good for the NAR to recognize that. The recent settlement assures that they do NOT.
For that reason, I and many of my colleagues are quitting NAR.
It has become an unnecessary bureaucracy run by 7 figure bureaucrats who know nothing about what it means to be a Realtor.
The code of ethics is their only contribution – and that has existed a very long time.
The kickbacks they get to promote “discounts” are meaningless.
They need to show their worth – and the recent settlement shows they have NONE.
I agree with that sentiment questioning the value of the NAR association. Since the attention and outcome of the NAR settlement agreement I have been asking myself why I should continue paying a $600 annual fee I believe in supporting our local association with dues but I will be looking into the implications if any of no longer being a member of the NAR.
Think twice before leaving the NAR. At least consult an attorney that is fully aware of the lawsuit. I heard it is possible that if you leave the umbrella of the NAR you could find yourself in a separate lawsuit. I have not verified info, but would hate to see many of my fellow Realtors in a situation that could get even uglier.
Some boards are better than others. I find most realtors don’t see much value in them, on top of state licensing fees, NAR fees, the boards charge quarterly dues largely for MLS access & electronic lock boxes. They employ full time staff who are either incompetent or not around; most are only needed to straighten out a bill they messed up on or you need tech support assistance for the MLS.
I agree with LB. Indiana has been a Buyer Broker state since 1994. Commission split between listing and selling companies has been transparent even before that. NAR should have worked to remove Indiana from the class action lawsuit.
John, we practice the same in NH. The settlement is only going to harm Buyers, by not being transparent.
The commission split between listing and selling companies isn’t even the same with any agents in my office.
It has always been negotiable.
That’s hardly collusion!
This will hurt every human (but especially Buyers.)
It will only benefit new “big box” on-line brokers like Zillow, etc. as they implement their own minimum wage “showing agents.”
I’d like a look at what kind of collusion went on between them.
you guys don’t get, NAR should have not loss the case in court and the award of half a billion dollars should not have been on the table. That is ridicules amount of money to satisfy any suppose Seller for paying the buyer’s agent. NAR was up against 12 inept juris that were led astray by Slick attorneys. the judge should have never allowed class action, because every state is different in manner of who represents who and how they get paid. In our listing agreement, it states in the contract how much will be earned by the Broker for their services, Very transparent, it also says how much the listing Broker will share with a buyer’s agent. The Broker is paid a fee, if they wish to share it, that is smart to do that, because ultimately, the goal is to sell the property and get paid once escrow close. As just illustrated some states are like us and many are not. clearly another reason class action does not apply. NAR is at a disadvantage, because they are carrying the weight of all the local associations. The future of Organized real estate is at risk, over 100 years in the making. NAR is stuck with abiding by the judgement, because to appeal the verdict is a non-starter. NAR would have to put up the money or bond the amount of the Judgement. As i see it, the only way to truly fight this, would be for each local association Sue and counter sue the Attorneys chasing their rainbows. One last comment, NAR leadership is served by local real estate Broker and agents, i know because i have been one of them for over 20 years. Local boy doing his part for organized real estate, trying to keep it sane in an insane world. in closing reinventing the wheel by leaving NAR is another insane idea, because you will go insane in the process