The Future of NAR: Can This Industry Titan Be Reformed?
Dec 6, 2023
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The podcast explores the importance of authenticity and relatable communication in the real estate industry. It discusses the need for NAR to shift its focus to home buyers and highlights the potential decline of NAR membership. The podcast concludes with a call to reform NAR and MLS for a stronger realtor association.
NAR should prioritize authentic communication and storytelling from its members to connect with consumers and reshape public perception.
NAR has the opportunity to reform and create a smaller, more dedicated membership base focused on advocacy and protecting property rights.
Deep dives
The Need for Authenticity and Reform in Association Membership
The podcast episode explores the need for authenticity and reform within association membership, specifically focusing on NAR (National Association of Realtors). The hosts discuss the importance of members being authentic and true to themselves, rather than using corporate speak or PR fluff. They emphasize the need for NAR to allow members to speak from the heart and share their stories to resonate with the public. The hosts also discuss the potential for a significant reduction in NAR membership, suggesting that a smaller, tighter, and more dedicated membership base would be more powerful and impactful. They call for reform within NAR and a return to the association's original purpose and values.
The Power of Voluntary Membership and Community
The hosts examine the concept of voluntary membership and highlight how many professionals willingly join associations for the sense of community and identity. They draw parallels to other professional organizations that do not require mandatory membership, but still attract members who want to connect with like-minded individuals. The hosts argue that true membership is based on mutual values and interests, not on coercion. They emphasize the benefits of fostering a genuine community of members who genuinely care about the industry and its values.
The Crisis and Opportunity Facing NAR
The hosts discuss the current crisis and opportunity facing NAR due to recent lawsuits and public scrutiny. They predict a significant decline in NAR membership numbers, potentially up to an 85% reduction. However, they also see this as an opportunity for NAR to undergo meaningful reform. They emphasize the need for NAR to clean house, remove ineffective leadership, and prioritize the interests and values of their realtor members. The hosts envision a reborn NAR with a smaller but more dedicated membership, focused on authenticity, advocacy, and protecting property rights.
Realizing the Power and Purpose of Authentic Communication
The hosts stress the importance of authentic communication and messaging in the real estate industry. They express disappointment in NAR's lack of genuine messaging and imagery, which fails to resonate with consumers. They argue that by empowering realtors to communicate authentically about their genuine passion for helping clients, the industry can counter the negative media narrative and address public concerns effectively. The hosts suggest focusing on the consumer angle and highlighting how real estate professionals genuinely care about aiding buyers and sellers in achieving their dreams. They believe this approach can rebuild trust and change public perception.
Should NAR be reformed? What is the role of REALTORS in the lawsuit, and the value of membership in NAR? Join Rob and Greg as they answer these questions and the potential rebirth of the REALTOR movement, the importance of authenticity in communication, and the value of REALTORS sharing their authentic stories to connect with consumers. Plus Rob and Greg throw in their own doom and gloom predictions just to shake things up. Stay up-to-date with the real estate industry with this brand new episode of Industry Relations!