ORRA meets new "Core Standards" requirements
Wednesday, May 6, 2015
The Orlando Regional REALTOR® Association has been deemed in compliance with the new NAR Core Standards requirement for local REALTOR® organization. According to NAR the intent of the new standards is to "raise the bar for REALTOR® associations and ensure high-quality service for REALTORS®."
The standards are also meant to ensure that REALTORS® receive a solid value proposition for their dues dollar. Under the new rules, every association needs to maintain standards in the following areas:
•Code of Ethics. Local associations are expected to have a viable, easy-to-navigate professional standards process for enforcing disputes.
•Advocacy. Local associations are expected to strive for RPAC “fair share” contributions through dues billing or other means and to participate in state Calls for Action.
•Consumer Outreach. Associations wil be asked to demonstrate their role as the Voice for Real Estate® in their communities through plans to share market data with the public, issue press releases, or sponsor community-building activities.
•Unification and Support of the REALTOR® Organization. Associations need to adopt a business or strategic plan with an advocacy component; maintain corporate documents, policies, and procedures; and enforce dues billing.
•Technology. Every association needs the ability to communicate using contemporary electronic resources, including a website with links to the other levels of the REALTOR® organization.
•Financial Solvency. An annual review or audit by a certified public accountant is expected to ensure each association’s financial health.