You might be surprised to know that nearly 140,000 NAR members work in commercial real estate—or that 40% of those folks have been in the business fewer than five years. These are some of the insights gleaned from M1, the National Association of REALTORS®’ new membership database. Our understanding of the membership is growing in nuance thanks to ongoing—and much needed—database modernization.
Just three years ago, the membership picture was murkier. In 2018, for instance, 7,139 members self-identified having a primary specialty in both commercial and residential. That number has shot up by 656% to 53,965, because of a simple change. In 2019, we began requiring new members to indicate their primary specialty. The member database lets you select from up to 104 specialties, including 30 in commercial. Precise data is a crucially important part of NAR’s multiyear effort to know you more clearly and, therefore, serve you with more relevant, customized resources. I encourage you to check your own profile, and update it if needed, in the My Account section of nar.realtor.
While you're online, register to attend the C5 Summit, which takes place in New York City, Sept. 27–29. C5 brings together a wide range of industry players, helping attendees connect to capital, incentive programs, and development opportunities around the country. C5 combines terrific networking and dealmaking opportunities with top-notch education on ways to position your community and your business for growth. Plus, hear from legendary Major League Baseball All-Star Alex Rodriguez. One of NAR's first in-person gatherings since the pandemic, C5 is an exciting opportunity to help ramp up commercial real estate in the post-pandemic world
As plans for C5 take shape, NAR is also pressing forward on legislative issues of key importance to you, including long-term investment in infrastructure, especially broadband, surface transportation, and water management. We’re also working to mitigate regulatory barriers in order to help revitalize the economy, create jobs, and generate business opportunities. And of course, we're keeping a close watch on tax proposals in Washington, including threats to repeal the 1031 tax-deferred exchange. NAR is working with the same coalition that persuaded Congress to retain real property exchanges in the 2017 tax reform. We’re armed with fresh, rigorously conducted research showing the job growth, revenue, and business investment dollars that exchanges help support. Coalition members have already met with the all-important tax-writing committees in the House and Senate.
Relationships let us serve you in other ways, too. One is through significant discounts with two commercial property search and marketing platforms, Brevitas and Crexi. Our partnership with the platforms also means their listings are integrated into RPR®, a robust property database, exclusively for NAR members.
One area where we are working to nurture relationships is between seasoned professionals and individuals seeking career opportunities in real estate. Our new mentorship program, NAR Spire, will offer young people in underserved areas the opportunity to explore a career in sales, marketing, IT, property management—really any real estate discipline—while learning about the wealth-building benefits of property ownership and investment. We’re pairing mentees and mentors in eight pilot areas—Chicago; Raleigh-Durham, N.C.; Baltimore; Memphis, Tenn.; Rochester, N.Y.; Seattle; Trenton, N.J.; and Washington, D.C. If you work in one of these areas, you can help shape the future of our industry by applying to be a mentor at NAR.realtor/NARmentorship. After all, there are a few things about our members that we don’t need data to prove: You’re “people people” who care for your neighbors and understand the unlimited potential of a real estate career.