No Dues Increase
One year ago, our 2018 Leadership Team began the budget review process with clear eyes and full hearts. We were determined to make positive change for the organization we love, and we were confident about the direction we needed to move.
The Budget Review Team and Board of Directors "Owned It," approving the S.M.A.R.T. Initiatives (Strategic Measures Advancing REALTORS® to Tomorrow). As a result, we've introduced programs to increase professionalism and strengthen our influence, and we've put the National Association of REALTORS® on a stronger financial footing.
The 2019 Budget Review Team and Finance Committee have unanimously approved a 2020 budget proposal that continues to deliver on the commitments made for 2019 with no dues increase. The proposed budget going to NAR's Executive Committee and Board of Directors also increases operating reserves by about $11 million, enhancing our ability to respond to industry needs in the future.
As your 2019 leadership, we vow to continue the effort to bring complete transparency to the budget process. This document walks you through some of the exciting changes that have taken place in the past year—new programs funded by the S.M.A.R.T. Initiatives but also structural changes with no budget impact that will make the association more responsive and more relevant to our 1.3 million members.
In February, NAR launched a magnificent new consumer ad campaign, themed "That's Who We R®." The campaign instills a sense of pride in our profession and our association—highlighting what sets REALTORS® apart. The response from members has been overwhelmingly positive. We strongly believe that the campaign should continue beyond its 2019 funding, and the Finance Committee has endorsed that position and recommended a three-year renewal of the $35 special assessment used to fund the campaign. The recommendation now goes to the Board of Directors.
We welcome your careful review of the budget, and in the weeks leading up to our May 18, 2019 Board of Directors meeting, we look forward to talking with REALTORS® and AEs about our plans to help the association and our members continue to thrive in the changing business landscape.