The Alabama Association of REALTORS® (AAR) recently conducted its annual survey among members to evaluate the services, benefits, and resources they value most. The survey also allowed us to gain insights into key industry issues and gather opinions about the REALTOR® organization. Approximately 1,200 members took time to participate, marking one of the highest participation rates to date.  We are grateful to everyone who participated. Below is a summary of the survey results.

• Market Confidence and Financial Outlook: 50% of respondents are confident about the real estate market and economy over the next year; 40% have concerns about the market and economy; 45% feel worse off financially than a year ago.
• Biggest industry concerns: housing affordability, economic uncertainty, unpredictable interest rates, misinformation about real estate practices.
• AAR Member Services: Members rank six AAR member benefits in the 90th percentile. Economic and real estate reports (1); statewide legal forms (2); legal line and legal services (3); real estate news and information (4); advocacy and lobbying (5); consumer awareness (6).
• Value of REALTOR® Membership: Majority rate national, state, and local REALTOR® associations as excellent or good; (Local 88%; AAR 77%; NAR 49%). 80% are proud to be a REALTOR® member.
• Membership Options: 57% favor greater choice in membership levels. 46% would still join all three levels of the organization if given the option. 33% would join state and local levels only.
• Association Membership: Only 30% have considered withdrawing from NAR in the past year. 25% favor brokerage or franchise withdrawal from NAR; 37% favor local association withdrawal from NAR; 40% favor state association withdrawal from NAR; 49% favor a two-way membership option for state and local services only.

When asked about their confidence in the real estate market and the broader economy over the next year, 50% of respondents indicated they were very or somewhat confident, while 40% expressed some level of concern. The remaining 10% were neutral, selecting "neither confident nor concerned."

A larger percentage of respondents, 45%, feel they are worse off financially compared to a year ago, while 36% of respondents feel they are about the same.

The top issues affecting REALTORS® and the real estate market according to respondents are housing affordability, economic uncertainty, unpredictable interest rates, and misinformation in the media about real estate practices and commissions.

Additional significant concerns include limited inventory, uncertainty caused by class-action lawsuits and the Department of Justice investigation, pending changes to NAR rules, and consumer misunderstandings about the value of REALTORS®. While legislation, regulations, and government red tape, along with high property tax assessments remain concerns, they were ranked lower than the aforementioned issues.

Respondents also had the opportunity to specify other issues they are experiencing.  The rising cost of home insurance, professionalism in the real estate industry, and perceived mandatory membership in professional associations were among the most frequent answers offered.

When asked about their familiarity with AAR’s advocacy and lobbying efforts on state legislative and regulatory issues, 64% of respondents reported following AAR’s efforts very or somewhat closely, while 36% admitted to following them not too closely or not closely at all.

Respondents evaluated the value of various member services offered by AAR, with the following results. Six member benefits ranked in the 90^th percentile. Their ratings can be found below:

Following closely are Errors and Omissions Insurance and the Alabama REALTORS® Political Action Committee. The Alabama REALTORS® Foundation, Events and Conferences, and REALhealth and Wellness Insurance received the lowest responses.

Respondents ranked their brokerage or team leader as the most important source of information about the real estate industry, followed by their local REALTOR® association, AAR, and NAR respectively. Real estate news outlets were rated slightly lower in importance. Respondents also had the opportunity to specify other sources of information. Master mind groups, other REALTORS®, and Facebook were among the most frequent answers offered.

Respondents were asked to evaluate the performance of the national, state, and local associations of REALTORS®. The ratings options were excellent, good, just fair, poor, and don’t know enough to say. Overall, the majority of respondents rated each level of the REALTOR® organization as doing an excellent or good job.

Respondents were asked about their REALTOR® membership and the use of the REALTOR® trademark. The breakdown of the results can be found below:

Over the past twelve months, AAR has received a number of concerns from members across the state regarding the ongoing legal challenges at the National Association of REALTORS® (NAR). Many members feel strongly about these issues. The following portion of the survey aimed to determine the extent of our members’ concerns about these important matters. There is no effort underway by AAR to withdraw from NAR.

Regarding NAR and the ongoing antitrust class action lawsuits, 86% of respondents indicated they are following the lawsuits somewhat closely or very closely. When asked about the DOJ investigation, 71% of respondents reported following it somewhat closely or very closely.

Respondents were asked about their views on the REALTOR® organization and membership options. 57% are strongly or somewhat in favor of being able to choose which levels of the REALTOR® organization to join. Meanwhile, 15% somewhat or strongly oppose this idea, and 28% are neutral or unsure.

When asked which levels of the REALTOR® organization they would join if given the option, the responses showed favorable support for all three levels, with 46% saying they would still join all three levels of the organization. This was closely followed by 33% saying they would join just state and local levels, with 13% saying they would join local only. Only 4% said they would join the state association only, and less than 1% said they would join only the national association.

When asked about the potential of decoupling the Multiple Listing Service (MLS) and related services from REALTOR® membership, the responses were almost evenly split. 34% of respondents indicated they are strongly or somewhat in favor, 32% are strongly or somewhat opposed, and 34% are neutral or unsure.

Respondents were then asked if they would still join each level of the REALTOR® organization if MLS and related services were decoupled from membership. The majority of respondents would still join the REALTOR® organization.

There have been a number of real estate news reports, rumors, threats and requests about individuals, brokerages, and associations withdrawing from NAR. When asked about their views on NAR and continuing membership, respondents generally showed support for the organization. Over the past 12 months, only 30% of respondents have considered withdrawing from the organization. Additionally, only 25% are somewhat or strongly in favor of their brokerage or franchise withdrawing from the organization, 30% are somewhat or strongly opposed, and 45% are neutral or unsure.

Regarding their local association withdrawing from NAR, 37% are somewhat or strongly in favor of withdrawal, 25% are somewhat or strongly opposed, and 38% are neutral or unsure.

Similar sentiments were expressed about the state association, AAR, withdrawing from NAR, with 40% somewhat or strongly in favor of withdrawal, 21% somewhat or strongly opposed, and 39% neutral or unsure.

Furthermore, 49% of respondents are somewhat or strongly in favor of having a two-way membership option for state and local services only, while 10% somewhat or strongly oppose this option, and 41% are neutral or unsure.

Awareness of new national real estate trade groups is low, with only 31% of respondents aware of these groups. Moreover, only 7% have considered joining one of these other real estate trade groups, with 93% not considering joining other groups.

We appreciate all of our members who took the time to participate in our survey. Your feedback is invaluable to us as we strive to improve our services to better fit the needs of our members. Your input will help us better serve our members more effectively.

Respondents were asked to provide information about themselves and their real estate business. Please note, respondents could select multiple areas of practice.