It was great to see so many of you at the Virtual September Business Conference. I am happy to report we had over 380 Missouri REALTORS® participate in our meetings!
The week began with a combined Opening General Session and Emerging Issues Forum. This session featured a panel of industry leaders and was dedicated to diversity and inclusion. Diversity and inclusion is firmly anchored within our strategic plan and our governance structure. It is not only an approach to meet the needs of increasingly diverse markets by providing exceptional real estate services and solutions, but also a renewed association commitment to support an inclusive culture and management practice to leverage our full potential.
There was so much positive work accomplished and information shared by our Output Groups and Committees.
Highlights of actions taken this past week include:
The Board of Directors met for this association’s first-ever virtual Board of Directors meeting. During this meeting, the Board of Directors approved the association’s 2020 Audit Report and 2021 Budget.
The Advocacy Committee was successful in advancing Missouri REALTORS® strong support of the enactment of the Missouri Nondiscrimination Act (MONA). MONA would add sexual orientation and gender identity to the list of protected classes in the Missouri Human Rights Act, which would protect LGBTQ residents from discrimination in employment, housing and public accommodations. Currently the protected classes include age, race and national origin. MONA aligns with the NAR Code of Ethics policy to support equal opportunity on the basis of sexual orientation and gender identity.
Additionally, the Advocacy Committee and Board of Directors voted in favor of supporting modifications to 339.150 RSMo, relating to fees paid to an unlicensed person. We now support amending the current act to allow compensation for real estate services to be paid to an unlicensed business entity, that is owned by a licensee, formed for the purpose of receiving compensation earned by the licensee. Among several issues raised was the desire of many licensees for a method to shelter income/reduce taxes using an LLC, PC, Corporation or other entity. Currently, licensees may use these entities, but the current statute places a number of burdens on the licensees who are doing business as LLC, PC or Corporation. These burdens include licensure of the entity as well as the licensee, requirements that the licensee become an officer of the associated brokerage and other requirements. Current law, 339.150, prohibits paying compensation for real estate services to an unlicensed person. The proposed Act amends that section and allows compensation for real estate services to be paid “to a business entity owned by a licensee that has been formed for the purpose of receiving compensation earned by such licensee.” It further provides that such entity is not required to be licensed under Chapter 339. The entity may be owned: solely by the licensee; by the licensee and their unlicensed spouse; by the licensee and their licensed spouse, so long as both are associated with the same broker; or by the licensee and one or more other licensees so long as all are associated with the same broker.
The Board of Directors approved $15,000 from Unrestricted Net Assets for the REALTOR® Relief Foundation. This was a motion recently approved by the Leadership Team and Executive Committee after a request from NAR following storms in Iowa, Louisiana, and Texas.
The Missouri REALTOR® Party held their annual RPAC Trustee election. Congratulations to the following five members who were elected to fill vacant positions: Jessica Hubbard of Ozark Gateway, Jordan Salisbury of Bagnell Dam, Lisa Sell of West Central, Dave Soto of Southeast Missouri, and Cass Williams of Greater Springfield.
During our Annual Meeting and Awards, we recognized the following 2020 annual award recipients as well as graduated our 17th
Leadership Academy class.Congratulations to the following annual award recipients!
REALTOR® Salesperson of the Year: Hank Vogt, Jefferson City Area
REALTOR® of the Year: T. David Rogers, Kansas City Regional
R. Layne Morrill Award: Joyce Thomas, South Central
Richard A. Mendenhall Award: Jim Gamble, Kansas City Regional
Elizabeth J. Mendenhall E3 Award: Bobbi Howe, Kansas City Regional
Bruce Aydt Code of Ethics Leadership Award: Kathy McCarty, Kansas City Regional
Brady Stevens Award: Terri Gilgour, Kansas City Regional
You can access all recorded sessions from the Virtual September Business Conference here. Here’s hoping our next Business Conference is in-person. See you soon!
CEO, Missouri REALTORS®