Agenda Summary
National Association of REALTORS®
2009 Midyear Legislative Meetings
Omni Shoreham
Empire Room, Lower Level
Wednesday, May 13, 2009
10:00 AM - 12:00 PM

Chair: Allen Chiang, CA
Vice Chair: Alex Chaparro, IL
Committee Liaison: Wendy Furth, CA
Committee Executive: Fred Underwood, DC Kyle Lambert London, DC

I. Call To Order -Review Ownership Disclosure and Conflict of Interest Policy

1. When NAR has an ownership interest in an entity and a member has an ownership interest* in that same entity, such member must disclose the existence of his or her ownership interest prior to speaking to a decision making body on any matter involving that entity.

2. If a member has personal knowledge that NAR is considering doing business with an entity in which a member has any financial interest**, or with an entity in which the member serves in a decision-making capacity*, or wit, then such member must disclose the existence of his or her financial interest or decision making role prior to speaking to a decision making body about the entity.

3. If a member has a financial interest in, or serves in a decision-making capacity for, any entity that the member knows is offering competing products and services as those offered by NAR, then such member must disclose the existence of his or her financial interest or decision-making role prior to speaking to a decision making body about an issue involving those competing products and services.

After making the necessary disclosure, a member may participate in the discussion and vote on the matter unless that member has a conflict of interest as defined below.

Conflict of Interest Policy

A member of any of NAR’s decision making bodies will be considered to have a conflict of interest whenever that member:

1. Is a principal, partner or corporate officer of a business providing products or services to NAR or in a business being considered as a provider of products or services (“Business:); or

2. Holds a seat on the board of directors of the Business unless the person’s only relationship to the Business is service on such board of directors as NAR’s representative; or

3. Holds an ownership interest of more than 1 percent of the Business.

Members with a conflict of interest must immediately disclose their interest at the outset of any discussions by a decision making body pertaining to the Business or any of its products or services. Such members may not participate in the discussion relating to that Business other than to respond to questions asked of them by other members of the body. Furthermore, no member with a conflict of interest may vote on any matter in which the member has a conflict of interest, including votes to block or alter the actions of the body in order to benefit the Business in which they have an interest.
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*Ownership interest is defined as the cumulative holdings of the member, the member’s spouse, children, siblings and to any trust, corporation or partnership in which any of the foregoing individuals is an officer or director, or owns, in the aggregate, at least 50% of the (a) beneficial interest (if a trust), (b) stock (if a corporation) or (c) partnership interests (if a partnership).

**Financial interest means any interest involving money, investments, credit or contractual rights.

II. Approval of Previous Meetings Minutes

III. Real Estate Policy Fellowships

A. Reports from the fellows
B. Discussion

Summary: NAR is funding three real estate policy fellowships, one each at the Congressional Black Caucus Foundation (CBCF), the Congressional Hispanic Caucus Institute (CHCI), and the Asian Pacific American Institute for Congressional Studies (APAICS) (caucus institutes). These fellows will spend approximately nine months (September to May) working in Congressional offices as part of well established policy fellowship programs at each institute. NAR’s funding enables each caucus institute to add a real estate policy focus to these programs.

NAR’s Objectives: Partnership with the caucus institutes gives NAR the opportunity to participate in the training of future policy leaders from diverse communities and build an understanding of real estate among policy makers. Additionally, involving local associations and NAR Federal Political Coordinators in the recruiting and mentoring of the fellows will enhance the relationship of REALTORS® and local Associations in their communities.

Recruiting applicants from among the real estate profession will contribute to expanding leadership development from a diverse base of members. Lastly, as part of their fellowship, each fellow will complete a project related to real estate policy. These results of these projects will be made available to NAR at the Midyear meeting.

Budget Impact: Each fellowship costs approximately $50,000 per year. The 2008 through 2010 Cultural Diversity Budget contains sufficient funds, $150,000 per year, for these fellowships. The caucus institutes pay each fellow approximately $30,000 plus benefits and travel. The remainder of the contribution is used to help manage and supervise the fellows.

Additional NAR Involvement: NAR will market the fellowships through state and local Associations to members and to college and university real estate or planning departments in their communities. NAR Federal Political Coordinators for members of the three Caucuses will mentor the fellows throughout the year.

NAR will host the fellows for meetings with NAR staff and at NAR and NAR sponsored events in Washington, DC. NAR participates in reviewing application and interviewing candidates, but selection of the fellows is made by the respective caucus institutes. NAR is not involved in managing the fellowship program or fellows.

Current Status: For 2009, NAR created a marketing brochure to promote fellowship opportunities to REALTORS®. Each caucus foundation or institute has received applications and will make selections early in the summer of 2009 for the second year of the program. 2008-09 fellows will present an overview of their experiences and their research to the Equal Opportunity Cultural Diversity Committee during the 2009 Midyear conference.

Additionally, the fellows will sponsor a symposium for the DC housing community on May 18 at the NAR building. The current fellows and their placements are Major Clemens (CBCF), Representative Maxine Waters (D-CA); Tonantzin Mitre (CHCI), Senator Menendez (D – NJ); and Gregg Orton (APAICS), Congressman Al Green (D-TX).

Discussion: The Equal Opportunity Cultural Diversity Committee will discuss the benefits this program brings to REALTORS® and if appropriate, changes to improve the program. Part of that discussion will focus on committee member experiences in encouraging applicants to consider the fellowship program.

IV. Fair Housing Issues

A. National Commission on Fair Housing Report

B. Discussion on members encountering discrimination

V. Aspects of Diversity – Discussion

VI. Diversity Partners

VII. Diversity Education Update

A. April Webinar - Leading with Diversity
B. At Home with Diversity

VIII. Diversity Grants

IX. RPAC

X. Adjournment