When agents ask me about the value of being a member of Seattle King County REALTORS®, I have no problem highlighting the benefits and services that real estate professionals receive by being members. I’m always glad to explain the three pillars of value in association membership.
Advocacy
First, our advocacy and lobbying efforts yield tangible results for every agent’s bottom line. Year after year, we have ensured agents receive a reduced business and occupation tax rate on transactions, saving them hundreds of dollars.
Our work at the national level preserves affordable financing options for buyers and tax preferences for owners, while at the local level we ensure that every municipality has a sign code that allows the easy and efficient marketing of listings.
Regulatory hurdles come at the real estate profession from all directions. The Association is always prepared to take these on. There is no better example than the Covid shutdown in 2020. Real estate brokerages were back and running safely within four days because of our united action.
Education
Second, our education program allows members to stay a step ahead of the competition and out of the courtroom with clock-hour classes like Battle of the Barristers. When six hundred agents fill a room to hear from the industry’s best attorneys, we know we’re delivering value. Survey after survey says legal education is the priority for licensees, so we deliver. We use the ever popular Legal Hotline as a backstop for this.
Our education program reacts to market demand. Agents want the latest and best information to boost business. Now that cities are establishing new zoning regulations to allow accessory dwelling units and split lots, agents want to understand and use these new rules for the benefit of their clients. Our classes in this area are extremely popular and informative.
Community of practice
And third: the opportunity to connect with industry peers. This is perhaps the least talked about and most underappreciated benefit of membership, but could well be the most significant for many agents.
The residential real estate industry is incredibly diverse and competitive in our market. In King County, there are over 1,000 real estate firms and 16,000 sales agents who participate in the Northwest Multiple Listing Service. In this environment, agents need the opportunity to meet, exchange ideas and create a community where they can practice together successfully.
The MLS sets the rules for sharing listings and safe operations. But who actually sets the standards and expectations for how agents cooperate with one another? The market doesn’t work unless agents have a common understanding of what is expected in the profession. That’s where the Realtor association plays an important role. It helps create what I like to call a “community of practice.”
Real estate is about establishing connections with clients and with agents who operate in your sphere. That is a value that is essential in an increasingly digital and often impersonal marketplace. In virtually every program the Association sponsors or creates, we strive to maximize the engagement and interaction available for members, whether it’s events, classes or committees.
In our transactional society, the first question we ask is “What do I get from this? How do I benefit?” The better question for many of us is, “What am I missing if I don’t give this a try?”
When I ask volunteers why they participate in the Association, I invariably hear that they are seeking connections to make their businesses more successful.
When I ask elected Realtor leaders the same question, I get a more focused answer: “This industry has been good to me. It’s my profession and I want to give something back to it.”
Gym membership is not a perfect analogy to Realtor membership, but we all know that the gym membership won’t do us any good, won’t make us more fit, if we’re not willing to put in the time and the sweat to make it happen. Engaging in activity yields results.
Being a Realtor is not much different. Engaging in activity opens the possibility of greater opportunity.
I encourage you to give us a try. Join our community of practice and you might be impressed with what you gain in return.
Russell Hokanson is CEO of Seattle King County REALTORS®.