NAR Weighs Options to Fight Lack of Insurance Availability

As part of its examination of the current insurance crisis, a NAR Insurance Task Force is considering the feasibility of NAR-provided alternative insurance products. The task force - which met in Washington, D.C. on November 18 with representatives from Fannie Mae, the Alliance of American Insurers, and the American Tort Reform Association, as well as academic insurance experts - also talked about creating resources to help state associations address state insurance regulatory efforts and participate in proposed federal initiatives impacting the insurance industry and consumers, including insurance scoring, the proper use of claims databases for underwriting purposes. Reauthorization of the Fair Credit Reporting Act's provisions impacting insurance, federal insurance charter discussions, and tort reform.

The task force will meet in December with the National Association of Insurance Commissioners.

To access background information and news on the national insurance crisis, go to: http://www.realtor.org/libweb.nsf/pages/fg718. For more info, CONTACT: Marcia Salkin, msalkin@realtors.org. 202/383-1092 or Russell Riggs, rriggs@realtors.org. 202/383/1259.

NAR's Public Awareness Campaign for 2003

The real estate industrial continues to help support the economy in difficult times. Factors and events outside the real estate industry have consumers looking for people they know and can count on. Today it's even more important that the public recognize a REALTORS® professionalism, role and importance in the transactional process.

Work With Someone Who'll Work With You.

The Public Awareness campaign successfully enters its 6th year in 2003 with new television, radio and print executions, which reflect the changing relationship members have with their customers.

NAR commissioned two key pieces of research that confirmed that customers wanted to have a role in the transaction. The campaign was modified to meet this changing need. Gone is the "You've Got A Life, We Let You Live It"…part of the theme line.

Today, customers want to know they have a partnership with their REALTOR®. The new theme lets customers know they have the partner they need in the new line: "Work With Someone Who'll Work With You. We're REALTORS®. Real Estate Is Our Life."

Coast-to-Coast Coverage Helps REALTORS® Become a Household Name.

The 2003 NAR Media Plan will continue to ensure potential homebuyers and sellers in their homes, cars, and offices receive the message.

Network TV helps us create over 2,915,852,000 impressions among our target. The addition of Primetime this year ensures that we are reaching over 95% of all target households an average of 26 times/year. Network Radio continues to assure that the Public Awareness Campaign message is out there - often.

Are We Better Off Than We Were 4 Years Ago? - The Research Says It All.

The numbers are in and again the Public Awareness Campaign continues to make an impact with customers and members alike. NAR has commissioned Riter Research, an independent testing organization to measure reactions of consumers and NAR members on the Public Awareness Campaign.

Stay up-to-date on the Awareness Campaign

For regular updates on the Public Awareness Campaign, be sure to visit www.realtor.org and the National Advertising and Media Planning website at http://66.40.119.137/index.cfm. For easy reference, try book marking it as a favorite website!

NATIONAL CONVENTION HIGHLIGHTS

The following are the highlights of the NATIONAL ASSOCIATION of REALTORS® Board of Directors meeting held November 11, 2002. The meeting concluded the four-day 2002 REALTORS® Conference & Expo in New Orleans. More than 22,000 REALTORS®, guests, and exhibitors attended the annual conference.

Virtual Office Websites

Action was delayed on a VOW policy that would govern how MLS data can be displayed on Virtual Office Websites (VOW's). The delay will allow time to further study the policy's impact and educate members about that impact before directors vote on the policy. The issue will be reconsidered at the 2003 NAR Midyear Legislative Meetings in May.

Resort Real Estate

A resort real estate committee was formed to recommend policies on issues and trends affecting specialists in the sale, leasing, counseling, management, and development of resort real estate, including second/vacation homes, timeshares, hotels and resorts.

Dues-Collection Procedures

Dues-collection procedures were amended to allow REALTORS® to own and operate limited function referral organizations that employ licensees who engage in only referral business without having to pay dues on those licensees.

Code of Ethics Changes

Made changes to the Standard of Practice 16-13 of the NAR Code of Ethics, adding language to require REALTORS® to inquire whether a prospective client already has an exclusive representation agreement with another REALTOR®. The change, effective January 1, will make it easier for REALTORS® to meet their obligations under Article 16 of the Code, which forbids REALTORS® from interfering with exclusive representation relationships.

Homestore Update

Homestore reported that its flagship site, REALTOR®.com, remains well positioned in the marketplace and is poised for further strengthening, as Homestore resolves legal problems that have dogged it over the past year. Alan Yassky reported that U.S. Attorney General John Ashcroft has officially closed the Justice Department investigation of Homestore and noted that the Homestore board acted in an exemplary fashion when financial wrongdoing was suspected. Yassky represents NAR on the board of RealSelect, which oversees Homestore's operation of REALTOR®.com. With more than 4.4 million residential real estate sites on the Internet, said Allan Dalton, the site's new president. More than 60 percent of all time spent on residential real estate portals is at REALTOR®.com, he reported.

Financial Report

NAR is in strong financial shape, with $55.4 million in dues revenue, $2.6 million more than the previous year, driven by strong growth in membership, now at more than 860,000 REALTORS®.

RPAC Update

RPAC's record performance this year includes the collection of more than $3.2 million and a participation level of nearly 50 percent. Disbursements were at a record, too, contributing $3.8 million to federal candidates and becoming, for the second election cycle in a row, the largest contributor in hard dollars to federal candidates. More than 95 percent of RPAC supported candidates won their races this year.

photos@ecbor.com

The MLS office now has a new email address just for photos. Its called photos@ecbor.com. The MLS Photographer takes and uploads photos for all listings inside Elkhart County, except vacant land. If you have a listing located outside Elkhart County, a replacement photo, or a vacant land sketch, please email them in the proper format to our new email address: photos@ecbor.com. Photos and sketches should be 640 X 480 pixels or larger with the DPI at 72. All must be sent individually as an attachment, in jpeg format, and named with the MLS number. Please do not add the listing address or the words "MLS#" in name of the attachment. A correct example would be "0134555.jpg".

If you have any questions, please feel free to call the Board office at 875-3283.