I’m still at the NAR Midyear Legislative Sessions and heading out to meetings soon, so this will be brief. By now, you know that NAR’s Finance and Executive Committees have approved RPR to become the platform for the hitherto-mysterious Project Upstream. Inman News has coverage of the decision.
Thing is, this decision highlights precisely what is problematic with governance of Organized Real Estate entities, both Associations and particularly MLSs. NAR’s DANGER Report released yesterday highlights governance as a major threat, and I know from talking to various attendees that governance and the decision-making process are two major complaints from rather powerful and influential people in the industry.
If I were one of the 800-ish Directors of NAR, I would seek legal counsel from my personal attorney on what personal liability issues arise from my voting to approve or disapprove the RPR-Upstream project. Let me explain, briefly.
Once again, it is time for the world famous (in my own mind at least) annual tradition of making predictions for the coming year that are Guaranteed to be Wrong, or Your Money Back! This year, I thought I would pay tribute to the greatest musical act still working today: Alison Krauss and Union Station. If you haven’t experienced AKUS, please click on the embedded videos; you will become a fan. If you are not a fan, you should be. “But I hate country music” is no excuse when it comes to the awesomeness that is the Hall of Fame lineup of Alison Krauss, Jerry Douglas, Dan Tyminski, Ron Block, and Dan Bales.
My 2012 Predictions turned out to be mostly wrong, which is great news, since many of them were dire indeed. Here’s to hoping that my 2013 predictions will perform about the same.
I’ve been really busy the last few days, but did not see anyone in the real estate media world — even bloggers like me — pick up on this extraordinary story:
Three members of the Greater Las Vegas Association of Realtors on Tuesday sued the trade association, its board of directors and its immediate past chief executive, Irene Vogel, alleging misappropriation of funds.
I’m baffled why the real estate media is not all over this story. Inman? RISMedia? AGBeat? Where you guys at?
So um, I guess I’ll take a few minutes to press this here Big Red Button to sound the alarm.
If you are involved with Associations in any official capacity — serve on the Board or as an Executive Officer — this is a story you cannot afford to ignore. Call your general counsel right now. Make sure your D&O insurance coverage is up to date, and consider increasing the limits.