REALTORS® Annual Conference Recap + Policy Updates

Nov 29, 2017 3:52:31 PM

The National Association of REALTORS® (NAR) 2017 Annual Conference wrapped up earlier this month in Chicago, Ill. KW agents, along with a few members of the KWRI team, enjoyed a variety of sessions and events aimed at helping agents strengthen and grow their businesses. Here are some highlights!

KW Represents!

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  • The KW Chicago - Lincoln Park market center hosted an event for the KW Industry Leaders community – a group of agents serving in industry leadership roles at the local, state and/or national level – who were in town for the conference. The reception provided a wonderful opportunity for these leaders to connect and discuss some of the industry’s top issues, while getting to meet some of KW’s best talent in the Windy City.
  • John Schumacher; KW regional director; and Tommy Choi; KW agent, 2018 Chicago Association of REALTORS® president, and NAR YPN advisory board vice chair; shared some thoughts on leadership and the role industry engagement has played in their careers. NAR 2019 First Vice President Candidate Sherri Meadows was on hand to speak about her campaign and vision for NAR.
  • Meadows and Charlie Oppler of New Jersey participated in a candidate forum, moderated by NAR Past President Chris Polychron of Arkansas. Attendees were able to get to know the candidates better, as they answered a combination of pre-posed and audience questions. The 2019 first vice president will be selected by the NAR Board of Directors at next year’s legislative meetings in Washington, D.C.
  • This year’s conference included a trade expo with more than 400 exhibitors. Several KW agents volunteered to help KWRI team members staff the booth and recruit top talent.

Policy Updates

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  • The initial version of the tax reform plan was made public during the conference. NAR staff members were quick to review the proposed language and provide updates. Since then, the bill incurred a few changes and has since passed out of the U.S. House of Representatives.  NAR remains opposed to the plan, commonly referred to as the “Tax Cuts and Jobs Act,” and is working hard to educate REALTORS® and ensure the final version of the legislation “supports the goals of homeownership and freedom to buy, maintain and sell real estate.”
  • The NAR Board of Directors approved changes to MLS Policy Statements 7.42 and 7.43. The most debated proposal, nicknamed “MLS of Choice,” requires Multiple Listing Services (MLSs) to allow licensees affiliated with a participant to waive subscription to the MLS. In other words, MLSs will soon offer waivers to agents who want to opt out of their services. The change goes into effect on July 1, 2018.
  • The other approved changes give brokers access to MLS sales data going back to Jan. 1, 2012; increases the minimum number of listings available to consumers searching an IDX or VOW feed to 500 listings or 50 percent of the listings in the MLS database; and requires MLSs to provide remote training and orientation options. These changes are effective Jan. 1, 2018.

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