The 2023 Alabama REALTORS® Board of Directors met on Wednesday, April 26^th at the Alabama REALTORS® Building in Montgomery. The Board reviewed the 2022 Annual Audit, discussed economic trends affecting our members’ businesses, received an update from the Governance and Elections PAG, conducted environmental scanning of legal challenges, and updated the board on pending Association projects.  A summary of the action can be found below:

• Leadership Outreach:Association leadership has visited most associations this year with more scheduled this summer.
• Broker Outreach:The Broker outreach initiative has continued and been successful in increasing engagement with the Broker community.  
• 2022 Audit Report: The Board of Directors reviewed and approved the 2022 Audit. The Audit report reflects a strong financial position in 2022 and going forward. The Association closed the year with the highest increase in net assets in the Association’s history. The elimination of the building debt and reduction of debt was a large part of that success. 
• REALTORS® Foundation: The Foundation’s 2023 Scholarship recipients were announced to the Board. The Foundation awarded 14 scholarships during its second year. Congratulations to all the student recipients!
• Alabama Economic and Real Estate Report:The Board discussed the March Alabama Economic and Real Estate Report and projections for the economy. The full March 2023 Report along with other monthly and annual reports is here. 
• Impact on Inflation: The Board discussed the negative impact of inflation on the Association and its members, the projected membership outlook, and NAR’s current proposal to address inflation at NAR. 
• Report on the Election and Governance PAG: The Board received a report from the Election and Governance PAG’s leadership and strategic consultant and provided feedback to the PAG.  
• Annual Conference: Annual Conference 2023 will be held on October 17 – 19, 2023 at The Lodge at Gulf State Park in Gulf Shores with keynote speaker Bo Jackson for the Awards and Installation Dinner.  
• Public Policy: The Board received an update on public policy issues and the legislative session. 
• NAR Update and Legal Report: The Board received a legal report on lawsuits that NAR is fighting on behalf of our members.
• 2024 AAR Officer, RVP, and Board of Directors: Applications for the 2024 positions of AAR Officer, Regional Vice President, and Board of Directors will launch in June.

Thank you to all of the Directors who made the commitment to serve and conduct the business of the Association.