This is for the realtors out there.
First we learned that the CEO of the San Diego Association of Realtors embezzled $1,000,000+, and now we hear that the National Association of Realtors is full of scumbags. The NY Times ran a story over the weekend that accused the NAR president of sexual misconduct and he resigned this week – but denied any wrongdoing, of course.
More stories have come out this week from various insiders, summarized here:
They collect around $300 in annual dues from realtors, and it adds up. They reward themselves well:
We are independent contractors. We don’t need to fund a $300 million per year enterprise that does nothing for us.
Bob is retiring next year. With his departue, I say we just shut the whole thing down.
What a grift! School district administrators and union bosses must be jealous.
LOL!
I think their lobbying power is pretty substantial in protecting things like the mortgage interest deduction and the 1031 exchange.
Remember when Biden wanted to kill the 1031 exchange?
They’re not the only trade association whose executives live large off the dues of the members. I’m sure a good investigative reporter could fill volumes with examples.
Do people have to join NAR, SDAR, etc. in order to be a successful realtor?
I think their lobbying power is pretty substantial in protecting things like the mortgage interest deduction and the 1031 exchange.
Remember when Biden wanted to kill the 1031 exchange?
Yes, I thought that too until I saw this – what does $2.6 million in legal fees get you these days? If that’s what they spend on lobbying, then not much – maybe a few letters:
INDEPENDENT CONTRACTOR EXPENSES 2021
Other interesting expense details include what NAR paid independent contractors for marketing, technology services, video production, legal counsel, and marketing consultants in 2021. Here’s the breakdown:
Havas Marketing Group (Marketing & Communications) — $46,048,778
Lone Wolf Technolgies (Technology Services) — $8,175,420
Projection Presentation Technology (Video Production & Services) — $4,525,147
Schiff Hardin (Legal Counsel) — $2,599,357
Cobalt Media Group (Marketing Consultants) — $2,517,828
Do people have to join NAR, SDAR, etc. in order to be a successful realtor?
No. Being a successful realtor is up to the individual.
Technically I don’t think agents HAVE to join NAR or SDAR. But the brokerages want you to belong, and it’s sold to us in a spiffy little package each year.