The Power of Individual Action

It's Your Association, & Your Voice Can Help Drive the Agenda.

I had the pleasure recently of interviewing the award-winning entrepreneur Daymond John. You probably know him from ABC’s “Shark Tank” and for his lifestyle brand, FUBU. He told me that he remembers once, as a kid, watching in awe as a supersonic Concorde jet took off from John F. Kennedy International Airport. John’s mother, seeing his amazement, told him, “Daymond, everything around you started with one person who took one action. Why couldn’t it be you? ”Wise words.

Everything we do at the National Association of REALTORS® starts with individuals like you—pros who work in the real estate business and who are motivated to take actions that will benefit our industry. Like you, I am a member of NAR and a real estate business owner.

As the association’s 2021 president, I am committed to aligning our priorities with your business needs, and the best way we have to understand your needs is to hear from you. So we’re listening. Actively.

NAR’s director of commercial engagement, Johnny Noon, recently conducted a Zoom listening tour of 30 state and local associations and commercial overlay boards. Loud and clear, we heard that three key services top your must-have list: advocacy, research, and education. We’re delivering on all these fronts to drive business growth.

Advocacy

At the state and local level, REALTOR® associations are partnering with economic development councils to spur growth and opportunity for our commercial members. In Washington, we’re pulling out all the stops to educate the White House and Congress on how proposed tax policies will affect our industry. We can’t be too vigilant. Recent proposals to limit the amount of deferred gain from a 1031 like-kind exchange, double the maximum long-term capital gains tax rate, and tax unrealized gains on capital assets at death are counterproductive to our nation's and our industry's economic health.

Research

Our economists pore over raw numbers every day to deliver monthly commercial insights, as well as a range of research reports. I’m happy to say they’re seeing encouraging signs of life in sectors hit hard by the pandemic. The July insights report showed apartment absorption rising at the strongest pace in a decade, an industrial vacancy rate of just 4.5%, and a rebound in retail. Hotel acquisitions, though a small portion of investments, were 200% above the level from one year ago. We expect sales and commercial leasing to gain strength in 2022, though the office vacancy rate will almost certainly remain elevated for a time.

Education

Our monthly Commercial Digest e-newsletter and this quarterly magazine bring you news from NAR, as well as stories focused on your business success. I also encourage you to follow our new LinkedIn Commercial page for real-time updates on and links to resources that support commercial business.

And just about the time this magazine is mailed, we’ll be meeting for NAR’s first-ever C5 Summit, a commercial conference bringing our commercial members together with developers and other industry professionals to explore sales, development, capital, and incentive opportunities.

How can we do more? That’s the question we ask ourselves every day. And, now, that’s the question I’m asking you. It’s your voice that led us to create a new commercial member experience group, and it’s your voice that will help C5 Summit and our other commercial offerings grow and evolve in tune with your needs. Reach us directly by emailing us at commercial@nar.realtor. Why couldn’t it be you?

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C5 Summit

Save the date for the 2022 C5 Summit! C5 returns to New York, August 15-17, 2022. Commercial. Capital. Connect. Commerce. Community.

About Commercial Connections

Commercial Connections is published four times annually and distributed to members of the National Association of REALTORS® and commercial real estate industry leaders. To subscribe to the newsletter, update your NRDS profile to include commercial interests in the "Field of Business" list.

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