Unpacking RPAC

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- Welcome to the advocacy scoop,
the podcast that takes you

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inside the advocacy work
of the National Association

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of Realtors connecting 1.5 million members

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with their advocates in
Washington for a front row seat

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to the fight for public policy
that strengthens the ability

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of Americans to access property ownership.

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- Hello everyone. Welcome back

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to the advocacy Scoop podcast.

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I'm Patrick Newton, NAR's Director

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of Advocacy Communications.

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As always, I'm here with
our fearless leader,

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Shannon McGahn, our Chief
Advocacy Officer. Hello Shannon.

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- Thank you, Patrick. I'm
thrilled to be here with you

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and all of our listeners as always.

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- Well, you know, in Wedding
Crashers when he, you know,

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Vince Vaughn is like, do you
know what time here it is?

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And they're like, wedding season.

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And I'm like, for us,
it's like election season.

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We're, we are like coming full
scale into election season.

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So our next two episodes of
the podcast here in September,

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October and November are all
gonna be election related.

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So Shannon, tell me, what
is your favorite movie

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or show about Congress?

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- Oh, geez. About Congress.

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Well, I would say Wedding
Crashers does have

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that political component,

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- John McCain's.

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- Exactly, exactly. But I would say my,

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my favorite political show,
it's not just about Congress,

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but that is a component, is Veep.

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I have watched every season
at least three times,

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and having worked on the
Hill for almost 20 years,

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it is the most accurate show on television

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with the exception that
there's actually more cursing

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and drinking in Congress
than there is in Veep.

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But it is like ripped
from the headline stuff.

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Would highly recommend
it if you are looking

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for some election season binge watching

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- Tv, ma.

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So if you're a faint of
heart, oh, that would,

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but well, I'll say my
favorite movie about Congress

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and 1992, the distinguished
gentleman with Eddie Murphy.

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Oh, good. And of course,
Shirley Ralph, who's incredible

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- Great call
- IL he literally changed.

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- You were a child in 1992, Patrick. Of

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- Course I was.

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I was, I haven't even
been born yet. Exactly.

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No, I I I love it.

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But you know, Eddie Murphy's
running for Congress

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as a conman and he changes
his name to the name

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of the congressman who just died.

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And his campaign slogan
is the name, you know,

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and so nobody knew their congressman died,

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so that's how he gets elected. But anyway,

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- Well, if you actually
go through the history

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of our country and political
campaigns, there was a lot

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of those kind of tricks
going on over the years.

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So there's always room
for, for more ideas there.

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- Well, equally as vulgar
as Veep, so also TV MA,

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we won't be able to quote
that on this episode.

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But anyway, back to business,
we're talking about rpac,

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the Realtor Political Action Committee.

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So this episode called Unpacking
rpac, we're going to go

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through everything you've ever wanted

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to know about rpac straight
from the source from Shannon

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and, and what a political
action committee is.

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So put your campaign finance on

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- Hat
- On Shannon, tell us what a pack is

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- That that hat never comes off.

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So Campaign A PAC is a
political action committee.

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It is one of those acronyms
that actually makes sense

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and fun fact,

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my very first full-time
job here in Washington,

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DC in the summer of 1999 was working

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for a political compliance firm that,

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that represented about a half dozen

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different presidential campaigns.

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So you have to go through and make sure

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that the checks back then
they were physical checks,

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sometimes cash even sent in the mail,

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that the checks matched up
with the compliance forms

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and that they were all
appropriately sent to the banks.

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And so it was a very exciting job in a way

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to see the grassroots of fundraising

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and how it really happens
from all over the country.

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So these are pacs are legally

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and highly regulated ways for groups

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of like-minded individuals
to join together,

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pool their resources and to
support candidates for office.

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It is something that is done
by many trade associations

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and other organizations
around the country,

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but none as well as rpac.

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- I mean, we're the largest bipartisan

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PAC for sure in the nation.

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Absolutely. Because we're
powered by a million

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and a half members

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- Power of purple.

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- Right. Power of purple. So the,

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the pacs go all the way back,

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I guess 1943 I think was when the first

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PAC was establishment.

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They've changed a lot over the years.

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So RPAC is what we call a,
a separate segregated fund.

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It's basically means that it is the PAC

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that are organized by like a corporation

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or a member organization or
trade association like ours.

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- Yes. And that separation
is very important

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because a lot of times
folks will say, oh, well,

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NAR you're spending these tens of millions

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of dollars on advocacy

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or these are on government
relations efforts.

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But the, the PAC is completely separate

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and it is powered by individual
donations that are, again,

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highly regulated, legalistic,

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and that that occurs
separate from those dues

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and other funds that go towards NAR.

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- And then there's
non-connected pacs, which are,

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are not connected to an organization.

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And then there's something
called a super pac,

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which is not a pac That's awesome.

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It's just what does a super PAC mean?

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- Well, super pacs were
created somewhat more recently

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as a way to have unlimited
funds from individuals

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and organizations and corporations

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that go towards independent expenditures.

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So those are funds that will help to,

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to support the election
or defeat of a candidate.

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But it is not done in connection
at all with the campaigns.

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So oftentimes, and you're
seeing these big mega TV ads

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and direct mail buys and,

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and things that those are
done through Super pacs.

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- So I could start a pack, the, the pack

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to convince everyone, Shannon is awesome

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- Patrick Pack
- And,

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and I could not coordinate with you on

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that, the Patrick Pack.

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So now we know what a pack is.

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Let's walk through the options.

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I'm, I'm a, I'm, I'm an NAR member or

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or a member of the public

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and I wanna support a political party

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or a certain candidate.

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So what options do we have?

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Option one is the most
obvious one you donate

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directly to the candidate.

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- Exactly. We, and we have many
o opportunities to do that.

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But it is important to note that RPAC

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is not soliciting contributions
from those outside of NAR.

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That there is a, because
it has to be a group

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of like-minded individuals
that SOLICITABLE class are,

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or 1.5 million NAR members.

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There are other organizations
out there who could be larger

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and they can raise from more folks,

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but most are much, much smaller.

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But that 1.5 million members
is the, the pool of folks who

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can contribute to rpac.

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- So I'm an NAR member,
I want to donate to rpac.

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What is step one in doing
that? What, what's the limit?

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- So our PAC is a traditional pack

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and there are federal limits as to

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how much you can contribute

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and how much the pack can
contribute to candidates.

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So individuals have a contribution limit

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of $5,000 per year to the pack.

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Our PAC can contribute up

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to $5,000 per candidate per cycle.

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And that means in the primary
and in the general election.

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So that's $10,000 total for that cycle.

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So that is a, the
traditional pact like R pac,

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but then obviously with
the party committees

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and others you have much higher limits.

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And so what we have seen over
the past couple of decades is

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that more and more funds can
go directly towards candidates

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up to $3,300 I believe.

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Now that can go towards
the party committees

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that can go towards joint
fundraising committees,

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which is a party committee
working with the candidate

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and potentially with a
state party and others.

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And they combine those
all into one account.

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But that $5,000 for, for Federal
pacs, it has not changed.

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You could say that that has
diminished the value a little

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bit when you're seeing races that used

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to be a couple million dollars
become tens of millions

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of dollars and senate races
that get into the hundreds

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of millions of dollars of, of
advertising and and spending.

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But, but that $5,000
is still very important

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because those are direct
candidate dollars.

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They're called hard dollars
that you can give directly

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to the candidate and
that they are able to use

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for their campaign functions.

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- And just to, that's such a great point.

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And I, I was gonna mention,
I I read just a, a,

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a few days ago a story in Axios.

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So since the start of
the year there's been

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$723 million worth of campaign ad buys

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for just three Senate races.

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That's Ohio, Pennsylvania, and Montana.

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And those are obviously
three of the, the big,

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the big races this year where
they're actually is a swing.

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They're, they're swing races

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that could go either way at this point.

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So, so you know, the, it just, the amount

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of money has ballooned

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and that's unique here
in the United States

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because, you know, we have
such a long election season

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- With a long election
season, we don't have the,

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the public financing of campaigns.

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But I I would also argue,

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because we do have early
voting in an extended election

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season and plus just all the
different technology options

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that are available, that the old idea

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of putting up a couple of ads in October

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and that's really going to
get your message across.

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Patrick, do you watch ads?

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Are you just skipping through, I mean,

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I'm sure you have like the
YouTube premium, YouTube premium.

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I mean,

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- I, I always read it like
while the ad plays, I click over

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and read like a story

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and then go back, go back
when, like 30 seconds later.

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- Exactly. So the the creativity
behind the advertising

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and how you are reaching potential voters,

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and if that's mostly through
your phone, if it's through

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billboards, if it's through
television ads, direct mail,

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these are all things that have

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become increasingly expensive.

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But there have been more
options for how to communicate.

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- Yeah, I, when I was a small
town TV news anchor, i I,

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the salespeople used
to love election years

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'cause they didn't have to do any work.

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They just could, you know,
put their feet up on the desk

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and the the ad dollars just rolled in

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- From a buyer in DC Right,
- Exactly.

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Especially in markets where
the, it's relatively cheap.

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But now they have to do all
this digital advertising on top

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of television and radio.

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- Exactly. It gets very
expensive very quickly.

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- Yeah. And I, I, you know, just to, just

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to double down on this, the
Georgia Senate race between,

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you know, Warnock and
Herschel Walker was just shy

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of a half billion dollars.

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And then the Pennsylvania race between Oz

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and Federman came in at $407 million.

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So I mean these, those are, those are two

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of the most expensive races.

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But you know, it's not unheard of

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for a competitive house race to be tens

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of millions of dollars.

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- Oh, exactly. The, the
attention span is short

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and these, these budgets better
be pretty robust in order

251
00:10:26,550 --> 00:10:28,860
to get the attention of,
especially of independent voters

252
00:10:28,860 --> 00:10:31,200
who may not be registered
in one party or the other

253
00:10:31,200 --> 00:10:36,060
and are constantly in, in the limelight

254
00:10:36,060 --> 00:10:37,380
and trying to get the attention

255
00:10:37,380 --> 00:10:39,000
or the campaigns are trying
to get their attention

256
00:10:39,000 --> 00:10:40,500
to, to sway their vote.

257
00:10:40,500 --> 00:10:42,930
- So we have the basics
down about PACS and rpac.

258
00:10:42,930 --> 00:10:45,540
So let's talk about
what makes rpac unique.

259
00:10:45,540 --> 00:10:48,750
We know it's powered by a
million and a half NAR members.

260
00:10:48,750 --> 00:10:52,260
It's the largest bipartisan
pack in the country.

261
00:10:52,260 --> 00:10:54,870
What are some of the other
things that make it unique?

262
00:10:54,870 --> 00:10:58,740
- Well, as we mentioned earlier,
it is voluntary advocacy.

263
00:10:58,740 --> 00:11:00,840
Dues dollars do not go to our pac.

264
00:11:00,840 --> 00:11:04,860
Our PAC is RA money that is
raised completely separately

265
00:11:04,860 --> 00:11:07,860
through the 1.5 million NAR members.

266
00:11:07,860 --> 00:11:10,140
It is also bipartisan,

267
00:11:10,140 --> 00:11:13,170
it is the largest most
bipartisan pack in the country.

268
00:11:13,170 --> 00:11:16,740
We are always around the
whatever congress looks like

269
00:11:16,740 --> 00:11:17,850
around the 50 50 mark.

270
00:11:17,850 --> 00:11:20,790
And so we are most
political action committees

271
00:11:20,790 --> 00:11:23,940
that you'll see out there
are focused on just a couple

272
00:11:23,940 --> 00:11:26,670
of issues or demographic, a certain area.

273
00:11:26,670 --> 00:11:28,920
And they'll be much more
partisan in how they operate.

274
00:11:28,920 --> 00:11:32,760
But we are always recognized
for that bipartisan nature.

275
00:11:32,760 --> 00:11:35,400
And though we always are
hovering in the top political

276
00:11:35,400 --> 00:11:39,150
spending spot in DC think of
that when it comes to scale.

277
00:11:39,150 --> 00:11:42,540
So, you know, this isn't just
one person's spending this

278
00:11:42,540 --> 00:11:44,640
money, it's a lot of times
you'll see these mega

279
00:11:44,640 --> 00:11:46,230
donors of what they're called.

280
00:11:46,230 --> 00:11:49,770
So folks who may have the
ability to contribute tens

281
00:11:49,770 --> 00:11:51,690
of millions of dollars if
not hundreds of millions

282
00:11:51,690 --> 00:11:52,770
of dollars to campaigns.

283
00:11:53,830 --> 00:11:56,080
Ours are coming from directly from members

284
00:11:56,080 --> 00:11:58,630
who are giving a minimum of $15.

285
00:11:58,630 --> 00:12:03,250
So it is a, a much more
kind of democratic process

286
00:12:03,250 --> 00:12:05,710
where we're speaking that,
that those funds that are going

287
00:12:05,710 --> 00:12:08,620
to rpac are speaking for
much a lot more people.

288
00:12:08,620 --> 00:12:10,570
And that process needs to represent all

289
00:12:10,570 --> 00:12:11,740
of those who are giving to the pac.

290
00:12:12,610 --> 00:12:15,070
And it's also important to
know that when you're seeing

291
00:12:15,070 --> 00:12:17,500
those, those reports of the
tens of millions of dollars

292
00:12:17,500 --> 00:12:20,170
that are spent by NAR in advocacy, that

293
00:12:20,170 --> 00:12:21,820
that does not include rpac.

294
00:12:21,820 --> 00:12:25,570
That is a completely
separate organization.

295
00:12:25,570 --> 00:12:27,070
It is a completely separate governance.

296
00:12:27,070 --> 00:12:29,560
You can look on the F'S
website to see exactly

297
00:12:29,560 --> 00:12:32,110
where rpac dollars are, are going.

298
00:12:32,110 --> 00:12:33,310
But that is not included in

299
00:12:33,310 --> 00:12:35,710
what are called our
lobbying disclosure forms

300
00:12:35,710 --> 00:12:37,420
that occur every quarter.

301
00:12:37,420 --> 00:12:39,370
Those are for different activities

302
00:12:39,370 --> 00:12:41,260
that are not RPAC related.

303
00:12:41,260 --> 00:12:45,400
So we do, we, we are the most
transparent organization.

304
00:12:45,400 --> 00:12:47,140
We share all of these details

305
00:12:47,140 --> 00:12:48,880
and we put out reports at the end

306
00:12:48,880 --> 00:12:51,910
of each election cycle showing
what are the races that,

307
00:12:51,910 --> 00:12:54,730
that we supported, where did
independent expenditures go,

308
00:12:54,730 --> 00:12:56,110
where did PAC dollars go?

309
00:12:56,110 --> 00:12:58,060
And all of this is made available not just

310
00:12:58,060 --> 00:13:00,550
to our members, but to the public.

311
00:13:00,550 --> 00:13:02,980
- And, and that's great.
We overshare when it comes

312
00:13:02,980 --> 00:13:05,470
to reportings, which is a good thing.

313
00:13:05,470 --> 00:13:07,180
But so, so with rpac,

314
00:13:08,945 --> 00:13:11,680
our members donate throughout the year.

315
00:13:11,680 --> 00:13:13,090
We have this pot of money

316
00:13:13,090 --> 00:13:16,300
and it has to be dispersed,
it has to be given out.

317
00:13:16,300 --> 00:13:17,830
So a lot of the intrigue

318
00:13:17,830 --> 00:13:21,220
around RPAC comes from
the disbursements process.

319
00:13:21,220 --> 00:13:23,320
And and the best way to describe this is

320
00:13:23,320 --> 00:13:25,600
that it is locally led.

321
00:13:25,600 --> 00:13:30,160
There is no Wizard of Oz
in DC deciding where all

322
00:13:30,160 --> 00:13:32,230
of this money gets sent.

323
00:13:32,230 --> 00:13:33,965
- If there is, is there a wicked witch?

324
00:13:33,965 --> 00:13:35,710
Is there east and west? I don't know.

325
00:13:35,710 --> 00:13:37,690
But, but it is exactly that.

326
00:13:37,690 --> 00:13:41,380
It is a locally led process
by a member run committee

327
00:13:41,380 --> 00:13:44,680
that represents every
region around the country.

328
00:13:44,680 --> 00:13:47,530
There's, this is not a single
issue pac, there are a lot

329
00:13:47,530 --> 00:13:48,790
of organizations where they,

330
00:13:48,790 --> 00:13:51,010
they care deeply about one or two issues.

331
00:13:51,010 --> 00:13:53,830
Housing impacts every single
aspect of the economy.

332
00:13:53,830 --> 00:13:55,630
Every committee in Congress,

333
00:13:55,630 --> 00:13:57,370
you can argue is, is working on housing.

334
00:13:57,370 --> 00:13:59,620
And so elected officials and

335
00:13:59,620 --> 00:14:01,330
and candidates at all levels, local, state

336
00:14:01,330 --> 00:14:04,330
and federal will have to
address housing issues.

337
00:14:04,330 --> 00:14:07,750
And so we make sure that this
is covering every zip code,

338
00:14:07,750 --> 00:14:08,770
every political party.

339
00:14:08,770 --> 00:14:12,340
It is a bipartisan,
nonpartisan, all omni partisan,

340
00:14:12,340 --> 00:14:14,470
however you would like to look at it.

341
00:14:14,470 --> 00:14:17,260
And then all these
disbursement decisions are made

342
00:14:17,260 --> 00:14:20,830
with the local and state
association's input.

343
00:14:20,830 --> 00:14:24,130
There's not a federal RPAC
saying we wanna support candidate

344
00:14:24,130 --> 00:14:25,720
X and therefore doing it.

345
00:14:25,720 --> 00:14:28,540
It is, hey local association,
what do you think

346
00:14:28,540 --> 00:14:30,550
of this state association?

347
00:14:30,550 --> 00:14:32,680
Do you agree or would you enhance that?

348
00:14:32,680 --> 00:14:33,820
Or would you minimize that?

349
00:14:33,820 --> 00:14:37,630
And then the federal
disbursement trustees will make

350
00:14:37,630 --> 00:14:39,280
that ultimate decision based on all of

351
00:14:39,280 --> 00:14:40,510
that input that comes in.

352
00:14:40,510 --> 00:14:42,580
That is incredibly important to remember

353
00:14:42,580 --> 00:14:44,860
because that means that we
are not fighting against

354
00:14:44,860 --> 00:14:47,140
ourselves with spending
federal PAC dollars

355
00:14:47,140 --> 00:14:50,080
that a state could say we
don't appreciate that all

356
00:14:50,080 --> 00:14:51,800
of the funding that goes through our pac,

357
00:14:51,800 --> 00:14:55,700
the 15 minimum $15 is supported
through the any state PACS

358
00:14:55,700 --> 00:14:57,320
that they have and also the national PAC

359
00:14:58,160 --> 00:15:00,800
- And, and and the process
because it's locally led.

360
00:15:00,800 --> 00:15:04,790
'cause it's based off of housing issues.

361
00:15:04,790 --> 00:15:07,400
We don't, we don't swerve out of our lane.

362
00:15:07,400 --> 00:15:09,080
And, and let's be honest,
people want us to,

363
00:15:09,080 --> 00:15:13,010
people like sometimes there's
a, there's a national issue

364
00:15:13,010 --> 00:15:15,380
that is people are very passionate about

365
00:15:16,580 --> 00:15:20,510
from foreign affairs to, you
know, healthcare to whatnot.

366
00:15:20,510 --> 00:15:24,020
But we, we we, we focus the
process on housing issues.

367
00:15:24,020 --> 00:15:26,750
And sometimes that's tough to do

368
00:15:26,750 --> 00:15:28,820
'cause people are very passionate
about politics these days.

369
00:15:28,820 --> 00:15:30,050
But, but

370
00:15:30,050 --> 00:15:32,060
because of that, you know, it sort

371
00:15:32,060 --> 00:15:34,760
of drives us toward candidates
that are more centrist

372
00:15:34,760 --> 00:15:37,430
and sort of incumbent friendly

373
00:15:37,430 --> 00:15:40,010
because they have a
track record of voting,

374
00:15:40,010 --> 00:15:43,730
but those who are looking
to reach across the aisle

375
00:15:43,730 --> 00:15:46,370
and make compromises on,

376
00:15:46,370 --> 00:15:49,070
on legislation importing
to the housing economy.

377
00:15:49,070 --> 00:15:51,290
- Exactly. And we, and we
can put this in the notes,

378
00:15:51,290 --> 00:15:54,980
but the, if you look at last
year's report on the candidates

379
00:15:54,980 --> 00:15:58,340
that we supported and our amazing 95% plus

380
00:15:59,360 --> 00:16:00,830
winning track record.

381
00:16:00,830 --> 00:16:02,660
And those are exactly
the types of candidates

382
00:16:02,660 --> 00:16:05,990
who are working across the
aisle who are issue focused

383
00:16:05,990 --> 00:16:10,010
and who are considering
real estate related issues.

384
00:16:10,010 --> 00:16:11,600
And the other thing is that the rpac,

385
00:16:11,600 --> 00:16:13,460
the disbursements trustees

386
00:16:13,460 --> 00:16:16,400
and the fundraising trustees
who all work on these issues,

387
00:16:16,400 --> 00:16:18,350
they're not the ones
making that determination.

388
00:16:18,350 --> 00:16:20,570
We have policy throughout our organization

389
00:16:20,570 --> 00:16:23,750
that are developed by
members around the country

390
00:16:23,750 --> 00:16:25,250
through our policy committees

391
00:16:25,250 --> 00:16:29,330
and we stick to where our policy
exists as an organization.

392
00:16:29,330 --> 00:16:31,940
- Now you, you just mentioned
that you can give as little

393
00:16:31,940 --> 00:16:34,220
as $15 to apac,

394
00:16:35,180 --> 00:16:37,640
but what, you know, some
folks, they they want to,

395
00:16:37,640 --> 00:16:39,770
they wanna max out and part of the fun

396
00:16:39,770 --> 00:16:41,420
of maxing out is the bling.

397
00:16:41,420 --> 00:16:43,910
I mean, 'cause realtor, our
members love their bling.

398
00:16:43,910 --> 00:16:46,370
And I remember the first president circle,

399
00:16:46,370 --> 00:16:47,690
we'll talk about
President Circle in a bit,

400
00:16:47,690 --> 00:16:50,660
but the first President Circle
conference that I went to

401
00:16:50,660 --> 00:16:52,520
and also realtor party
training conference.

402
00:16:54,110 --> 00:16:58,040
I mean, people have sashes on that, that,

403
00:16:58,040 --> 00:17:01,370
that are just covered in their rpac pens.

404
00:17:01,370 --> 00:17:02,565
- Where do you get a sash? I need, I

405
00:17:02,565 --> 00:17:03,565
- Don't have a sash.

406
00:17:03,565 --> 00:17:04,490
I mean, just listen, I'm an Eagle Scout

407
00:17:04,490 --> 00:17:06,620
and listen, the, the most fun
thing about an Eagle Scout is

408
00:17:06,620 --> 00:17:08,090
getting to wear your merit badge sash

409
00:17:08,090 --> 00:17:09,290
with all your merit badges on it.

410
00:17:09,290 --> 00:17:11,180
'cause it's kind of like, it's
like your bling, you know,

411
00:17:11,180 --> 00:17:12,260
for all your accomplishments.

412
00:17:12,260 --> 00:17:15,620
But, but yeah, no, I mean you, you,

413
00:17:15,620 --> 00:17:19,580
there's rpac major
investor recognition pins

414
00:17:19,580 --> 00:17:22,550
that you get if you
become a major investor.

415
00:17:22,550 --> 00:17:27,050
And among that category you have sterling,

416
00:17:27,050 --> 00:17:29,360
crystal golden and platinum Rs.

417
00:17:29,360 --> 00:17:32,030
And so you get a pen that signifies

418
00:17:32,030 --> 00:17:33,830
that you were a major investor at

419
00:17:33,830 --> 00:17:34,910
that level and in what year.

420
00:17:34,910 --> 00:17:37,850
And then there's also Rpac Hall
of Fame, which is, which is

421
00:17:37,850 --> 00:17:38,810
what Shannon, what do you have

422
00:17:38,810 --> 00:17:40,580
to do, get in the Hall of Fame?

423
00:17:40,580 --> 00:17:43,400
- I just got into Hall of
Fame, I'd rather not say,

424
00:17:43,400 --> 00:17:45,470
but it, so Hall

425
00:17:45,470 --> 00:17:49,560
of Fame are recognizes members
whose APAC investments total

426
00:17:49,560 --> 00:17:53,430
an aggregate lifetime
amount of at least $25,000.

427
00:17:53,430 --> 00:17:55,800
So members who are installed in the Hall

428
00:17:55,800 --> 00:17:57,450
of Fame at the realtors
legislative meetings,

429
00:17:57,450 --> 00:18:00,330
they get a plaque on the roof
of our beautiful building

430
00:18:00,330 --> 00:18:02,040
that we're sitting in here at

431
00:18:03,150 --> 00:18:06,060
overlooking our nation's
ca capital building.

432
00:18:06,060 --> 00:18:07,815
And so there's the hall of fame status

433
00:18:07,815 --> 00:18:12,180
and many other benefits
including recognition

434
00:18:12,180 --> 00:18:15,150
and some other parties
and things going on.

435
00:18:15,150 --> 00:18:17,610
But it's really for those
who have shown, not just

436
00:18:17,610 --> 00:18:21,300
that they're willing to, to
given one election cycle,

437
00:18:21,300 --> 00:18:23,370
but they're doing it over
the course of a lifetime.

438
00:18:23,370 --> 00:18:25,230
And that they've made
this commitment to apac

439
00:18:25,230 --> 00:18:28,260
and it's a, an incredibly
successful program.

440
00:18:28,260 --> 00:18:29,850
I can still remember the first time I went

441
00:18:29,850 --> 00:18:33,540
to a major investor event
at the first annual meeting

442
00:18:33,540 --> 00:18:34,800
and I thought, oh, I'm going to go in

443
00:18:34,800 --> 00:18:36,630
and it'll be this small
room with, you know,

444
00:18:36,630 --> 00:18:37,980
a hundred people or something.

445
00:18:37,980 --> 00:18:41,370
Thousands of people are in
this room and there's a band.

446
00:18:41,370 --> 00:18:45,180
And it was a, you know, a
this a really great energy

447
00:18:45,180 --> 00:18:47,460
of folks who understand
that this is the engine

448
00:18:47,460 --> 00:18:49,470
that fuels our political advocacy efforts

449
00:18:49,470 --> 00:18:53,880
and it is worth giving $15,
a thousand dollars, $2,000,

450
00:18:53,880 --> 00:18:55,560
$5,000 the max.

451
00:18:55,560 --> 00:18:56,730
And we have seen

452
00:18:56,730 --> 00:18:58,980
that it's just grown in
success over the years.

453
00:18:58,980 --> 00:19:00,870
- And we also have bling
for our associations.

454
00:19:00,870 --> 00:19:04,470
There's the President Cup
awards, which are for, for state

455
00:19:04,470 --> 00:19:07,080
and local associations who
meet their advocacy goals

456
00:19:08,400 --> 00:19:10,380
and then their fundraising
at the end of the year.

457
00:19:10,380 --> 00:19:13,380
And we're something called
the, the Triple Crown Award,

458
00:19:13,380 --> 00:19:14,670
which rec recognizes state

459
00:19:14,670 --> 00:19:17,340
and local associations who
meet their RPAC goals during,

460
00:19:17,340 --> 00:19:19,140
during the fundraising year.

461
00:19:19,140 --> 00:19:21,840
Corporate allies as well.
There's a corporate ally pin.

462
00:19:23,070 --> 00:19:26,760
So the the, there's all
sorts of, of different ways

463
00:19:26,760 --> 00:19:30,540
to be recognized for for
contributions to rpac.

464
00:19:30,540 --> 00:19:33,330
- Oh, exactly. And the corporate
ally program is a separate

465
00:19:33,330 --> 00:19:36,330
one from rpac that is
for, for those who give

466
00:19:36,330 --> 00:19:37,470
to corporate donations.

467
00:19:37,470 --> 00:19:39,690
And so yes, we all have their pins

468
00:19:39,690 --> 00:19:43,020
and it is very interesting
to when, when you're talking

469
00:19:43,020 --> 00:19:46,020
with someone to just see the
elevation of, of how they

470
00:19:46,020 --> 00:19:47,790
or the evolution of their pins.

471
00:19:47,790 --> 00:19:51,540
And everybody remembers
that first rpac investment.

472
00:19:51,540 --> 00:19:53,010
And they also remember the last one,

473
00:19:54,690 --> 00:19:55,830
- Well we, we, we've talked about

474
00:19:55,830 --> 00:19:57,000
present circle a few times.

475
00:19:57,000 --> 00:19:59,460
So you've got, you've got
your major investor pins,

476
00:19:59,460 --> 00:20:01,020
you've got your different levels.

477
00:20:01,020 --> 00:20:05,850
Now once you hit major investor,
there's actually a level

478
00:20:05,850 --> 00:20:08,490
above that called President Circle.

479
00:20:08,490 --> 00:20:11,225
And this is not a car rental status

480
00:20:11,225 --> 00:20:16,225
for the President Circle
is the elite of the elite

481
00:20:16,260 --> 00:20:17,520
of APAC giving.

482
00:20:18,390 --> 00:20:21,060
And what do you get in President Circle?

483
00:20:21,060 --> 00:20:22,290
- I need to find out which one came

484
00:20:22,290 --> 00:20:23,490
first of the President Circle.

485
00:20:24,480 --> 00:20:28,470
But yeah, so, so President
Circle is a, a, a very special

486
00:20:28,470 --> 00:20:32,370
and unique program that
includes a minimum contribution

487
00:20:32,370 --> 00:20:34,320
of $1,000 to rpac.

488
00:20:34,320 --> 00:20:37,110
And then you're also agreeing
to participate in the program

489
00:20:37,110 --> 00:20:40,350
that recognizes candidates
who are running for office

490
00:20:40,350 --> 00:20:43,590
that you'll give $2,000
aggregate to those candidates

491
00:20:43,590 --> 00:20:45,510
or party committees that are recommended

492
00:20:45,510 --> 00:20:47,020
through the President Circle program.

493
00:20:47,020 --> 00:20:49,930
And so that is a half dozen
or so elected officials.

494
00:20:49,930 --> 00:20:51,700
They're usually sitting federal officials

495
00:20:51,700 --> 00:20:53,680
and members of Congress of
the House and the Senate.

496
00:20:53,680 --> 00:20:56,050
And those are people who have
been working across the aisle

497
00:20:56,050 --> 00:20:58,150
who have been champions on our issues,

498
00:20:58,150 --> 00:21:00,190
who the states have
consistently had a good

499
00:21:00,190 --> 00:21:01,870
relationship with or recommended.

500
00:21:01,870 --> 00:21:03,310
Those are called realtor champions.

501
00:21:03,310 --> 00:21:04,720
And you can always check those out

502
00:21:04,720 --> 00:21:06,250
through our President Circle materials.

503
00:21:06,250 --> 00:21:08,290
- So this is a program that's
near and dear to my heart

504
00:21:08,290 --> 00:21:11,920
because the President
Circle members are invited

505
00:21:11,920 --> 00:21:14,140
to President Circle conference each year

506
00:21:14,140 --> 00:21:17,500
where we have some really
great political programming

507
00:21:18,340 --> 00:21:21,070
in recognition of the program.

508
00:21:21,070 --> 00:21:24,640
But we, we invite some of
the members of Congress

509
00:21:24,640 --> 00:21:26,560
who have been in the
present circle program

510
00:21:26,560 --> 00:21:30,490
and we invite other political
speakers to hear from them.

511
00:21:30,490 --> 00:21:33,460
It's a great event. I
I'm sort of in charge

512
00:21:33,460 --> 00:21:36,040
of the programming of it, so
it's very near and dear to me.

513
00:21:36,040 --> 00:21:40,545
But sometimes, you know, you,
you see a, a a someone speak

514
00:21:40,545 --> 00:21:43,840
and their numbers just
start going up, you know,

515
00:21:43,840 --> 00:21:46,210
from from people in the
audience who are so inspired

516
00:21:46,210 --> 00:21:48,760
by the speaker, they want
to immediately donate

517
00:21:48,760 --> 00:21:49,780
to that candidate.

518
00:21:49,780 --> 00:21:51,190
And you can see that in live time.

519
00:21:51,190 --> 00:21:55,540
But, but with that said, so how do these,

520
00:21:55,540 --> 00:21:59,050
this this list of, of
present circle candidates,

521
00:21:59,050 --> 00:22:00,700
how, how are they chosen?

522
00:22:00,700 --> 00:22:03,070
- So those candidates are also chosen

523
00:22:03,070 --> 00:22:05,800
through the APAC disbursement
trustees, but it's usually

524
00:22:05,800 --> 00:22:08,770
because we have a lengthy
track record in working

525
00:22:08,770 --> 00:22:10,690
with those candidates and
and elected officials.

526
00:22:10,690 --> 00:22:12,070
And it's also important to note

527
00:22:12,070 --> 00:22:14,410
that when we have the
President Circle conference

528
00:22:14,410 --> 00:22:15,760
or any of these other programmings

529
00:22:15,760 --> 00:22:17,650
and Patrick, you do a fantastic job

530
00:22:17,650 --> 00:22:19,510
of bringing in such diverse

531
00:22:19,510 --> 00:22:21,250
and fun voices,

532
00:22:21,250 --> 00:22:24,250
especially when they argue those
are my favorite is when you

533
00:22:24,250 --> 00:22:26,800
bring in a Republican pollster
and a democratic pollster

534
00:22:26,800 --> 00:22:29,800
or consultants and then
you can kind of just all

535
00:22:29,800 --> 00:22:33,370
of the political junkies
of, of the realtor world

536
00:22:33,370 --> 00:22:35,590
who really enjoy going to these sessions.

537
00:22:35,590 --> 00:22:38,050
And it's, as you scratch that
itch of just, I wanna be able

538
00:22:38,050 --> 00:22:39,910
to talk politics, but in a way

539
00:22:39,910 --> 00:22:43,180
that we're all working on
the, on the same issues

540
00:22:43,180 --> 00:22:45,550
and we all care about
each other's success,

541
00:22:45,550 --> 00:22:47,560
but also let's make it
a little interesting.

542
00:22:47,560 --> 00:22:51,010
So you do a great job with,
with all that programming and,

543
00:22:51,010 --> 00:22:52,660
and yeah, those decisions are
made through the trustees,

544
00:22:52,660 --> 00:22:54,640
but that's also because
those are folks who we know

545
00:22:54,640 --> 00:22:57,700
that are local and state
associations have supported

546
00:22:57,700 --> 00:22:59,260
and that they have that long track record

547
00:22:59,260 --> 00:23:01,450
of being champions on
these important issues.

548
00:23:01,450 --> 00:23:04,030
- And these are champions of champions.

549
00:23:04,030 --> 00:23:08,380
These are, this is the,
the, the folks in congress

550
00:23:08,380 --> 00:23:10,300
who are taking the lead on salt

551
00:23:10,300 --> 00:23:12,730
who are taking the lead on 10 31

552
00:23:12,730 --> 00:23:15,850
who are really going
out there on our issues

553
00:23:15,850 --> 00:23:19,150
and we want to support
them in every way possible.

554
00:23:19,150 --> 00:23:21,190
- Yes. And when you go and
you log into the account

555
00:23:21,190 --> 00:23:25,300
and you can see the little
blurb that that shares a, that

556
00:23:25,300 --> 00:23:27,790
that candidate's bio and
their history on these issues.

557
00:23:27,790 --> 00:23:30,520
And that's the advocacy team
works to make sure that we know

558
00:23:30,520 --> 00:23:33,580
that, that those, those
those bios are getting read

559
00:23:33,580 --> 00:23:35,980
and that we're really also championing

560
00:23:35,980 --> 00:23:37,090
those who champion us.

561
00:23:37,090 --> 00:23:38,830
- Yeah. And so you give to rpac,

562
00:23:38,830 --> 00:23:41,260
you become a major investor
Now when you give to rpac,

563
00:23:41,260 --> 00:23:43,000
you're giving to both political parties.

564
00:23:43,000 --> 00:23:46,490
It is money that goes through
the disbursements process.

565
00:23:46,490 --> 00:23:47,750
It's given out to Republicans

566
00:23:47,750 --> 00:23:51,590
and Democrats who are great
on real estate issues.

567
00:23:51,590 --> 00:23:54,020
When you get to the President's
circle level, you can pick

568
00:23:54,020 --> 00:23:55,550
and choose anyone off the list

569
00:23:55,550 --> 00:23:56,885
basically. Exactly. To give to.

570
00:23:56,885 --> 00:23:59,810
- Exactly. - And then, so if
you want to give to Republican

571
00:23:59,810 --> 00:24:01,700
or democratic candidates more

572
00:24:01,700 --> 00:24:04,640
or that, then the other then
you certainly are welcome to.

573
00:24:04,640 --> 00:24:06,080
But that's the choir, right?

574
00:24:06,080 --> 00:24:08,240
I always like to say
rpac is, is the choir.

575
00:24:08,240 --> 00:24:10,850
They get it, they know
how important RPAC is.

576
00:24:10,850 --> 00:24:14,300
They leave the, that
conference so inspired.

577
00:24:14,300 --> 00:24:17,750
And even sometimes I, like
last year I, I know that,

578
00:24:17,750 --> 00:24:19,820
you know, when we, when we
announced you know, the speakers

579
00:24:19,820 --> 00:24:20,930
for it, some folks might think,

580
00:24:20,930 --> 00:24:23,420
well I wish you had
more people on the right

581
00:24:23,420 --> 00:24:25,490
or I wish you had some
more voices from the left.

582
00:24:25,490 --> 00:24:26,960
But we try to keep it very even.

583
00:24:28,130 --> 00:24:31,940
And if you look at it over the
years, it is very, very even.

584
00:24:31,940 --> 00:24:33,860
But we also try to make it reflective

585
00:24:33,860 --> 00:24:36,380
of current political environment as well.

586
00:24:36,380 --> 00:24:38,930
But you know, with that
said, people have come in

587
00:24:38,930 --> 00:24:40,010
and said to said, oh,

588
00:24:40,010 --> 00:24:40,843
I wish you had had more

589
00:24:40,843 --> 00:24:42,020
speakers from this side or the other.

590
00:24:42,020 --> 00:24:44,180
And then by the end of the
conference they're just like,

591
00:24:44,180 --> 00:24:47,780
wow, now I get it like this, I get it.

592
00:24:47,780 --> 00:24:49,790
Like this is so important. So

593
00:24:49,790 --> 00:24:51,230
- It is one of the most satisfying parts

594
00:24:51,230 --> 00:24:52,820
of the President Circle conference and,

595
00:24:52,820 --> 00:24:55,490
and just hearing the reviews afterwards

596
00:24:55,490 --> 00:24:56,930
and folks are like, I
really thought I was going

597
00:24:56,930 --> 00:24:58,670
to hate Speaker X, but turns out

598
00:24:58,670 --> 00:25:00,530
that it was really exciting. So

599
00:25:00,530 --> 00:25:02,060
- Yeah, it's like going to a tent revival.

600
00:25:02,060 --> 00:25:03,470
Yeah. But

601
00:25:03,470 --> 00:25:06,230
- For, and if everyone's
angry then no one's angry.

602
00:25:06,230 --> 00:25:08,960
But if it balances out on, on on the,

603
00:25:08,960 --> 00:25:10,130
the the r versus D side.

604
00:25:10,130 --> 00:25:11,750
But over the years we, we,

605
00:25:11,750 --> 00:25:16,490
we've really put together
a solid bipartisan team

606
00:25:16,490 --> 00:25:18,050
of speakers who, who make you think

607
00:25:18,050 --> 00:25:20,660
and the the reviews have come
back and they've been raving.

608
00:25:20,660 --> 00:25:23,810
- Now we have lots of,
if you go to our website,

609
00:25:23,810 --> 00:25:28,580
the realtor party website, which
is, has loads of resources,

610
00:25:28,580 --> 00:25:31,010
but there's a, it's called the
realtor party resource guide.

611
00:25:31,010 --> 00:25:32,390
So you can just Google that

612
00:25:32,390 --> 00:25:34,370
and it's filled with all
of our different grants

613
00:25:34,370 --> 00:25:39,260
and programs for local
state associations to use

614
00:25:39,260 --> 00:25:42,860
as far as meeting their RA goals and,

615
00:25:42,860 --> 00:25:44,480
and fundraising goals
and that type of thing.

616
00:25:44,480 --> 00:25:46,250
So I definitely encourage
you to check that out.

617
00:25:46,250 --> 00:25:48,860
But we're starting to run out of time.

618
00:25:48,860 --> 00:25:51,680
So that means it's closing time Shannon.

619
00:25:51,680 --> 00:25:56,540
And I'm very excited
about our next episode

620
00:25:56,540 --> 00:26:00,770
because it will be coming
to you live from the realtor

621
00:26:01,760 --> 00:26:04,040
realtor next in Boston

622
00:26:04,040 --> 00:26:07,340
where we will be doing a live
episode once again on stage.

623
00:26:07,340 --> 00:26:10,580
And this will be two
days after election day.

624
00:26:10,580 --> 00:26:13,130
So we will not drop the
podcast the first Friday.

625
00:26:13,130 --> 00:26:14,600
We will have to delay it a week so

626
00:26:14,600 --> 00:26:15,890
that we'll be able to do this.

627
00:26:15,890 --> 00:26:19,550
But will you and I will be on
stage live talking election

628
00:26:19,550 --> 00:26:24,350
results and I did a little
sleuthing from four years ago.

629
00:26:24,350 --> 00:26:27,140
So we will be up there two
days after election day.

630
00:26:27,140 --> 00:26:30,020
But four years ago the
White House wasn't called

631
00:26:30,020 --> 00:26:31,940
until four days after election day.

632
00:26:31,940 --> 00:26:35,030
That's when Pennsylvania
was finally called.

633
00:26:35,030 --> 00:26:38,990
And we may not know, we
didn't know the Senate

634
00:26:38,990 --> 00:26:40,520
until the following January

635
00:26:40,520 --> 00:26:42,650
because as we just talked
about, we had that big,

636
00:26:42,650 --> 00:26:44,130
that big expensive race.

637
00:26:44,130 --> 00:26:45,570
There were two runoffs in Georgia

638
00:26:46,650 --> 00:26:50,430
and then the next morning the AP reported

639
00:26:50,430 --> 00:26:51,660
that the Democrats would likely

640
00:26:51,660 --> 00:26:52,830
re retain control of the house.

641
00:26:52,830 --> 00:26:54,840
So anyway, we just don't know
when it's gonna be called,

642
00:26:54,840 --> 00:26:56,520
but we'll be going over
the results live on

643
00:26:56,520 --> 00:26:57,685
stage. So that'll be fun. We

644
00:26:57,685 --> 00:26:59,055
- Might be winging it, Patrick.

645
00:26:59,055 --> 00:27:00,750
- We'll see. I mean we
might be winging it,

646
00:27:00,750 --> 00:27:03,300
but you never know what's gonna happen.

647
00:27:03,300 --> 00:27:06,090
But I hear you have the
scoop for us on some,

648
00:27:06,090 --> 00:27:07,380
on some fresh RPAC

649
00:27:07,380 --> 00:27:08,380
- Numbers.

650
00:27:08,380 --> 00:27:12,000
Well, sure. So I will give
the scoop as of July 31st,

651
00:27:12,000 --> 00:27:13,980
which is the last date
that the rpac fundraising

652
00:27:13,980 --> 00:27:15,750
numbers were reported.

653
00:27:15,750 --> 00:27:18,900
RPAC has reached 67% of its national goal

654
00:27:18,900 --> 00:27:23,340
with $33.46 million
raised at all three levels

655
00:27:23,340 --> 00:27:24,780
of the association

656
00:27:24,780 --> 00:27:29,340
and has hit 93% of its federal
disbursements allocation goal

657
00:27:29,340 --> 00:27:32,640
with 9.28 million raised
at the national level.

658
00:27:32,640 --> 00:27:36,990
Arpac has 6,446 major investors

659
00:27:36,990 --> 00:27:40,530
and 30% participation rate.

660
00:27:40,530 --> 00:27:43,530
We also, since we're
we're doing closing time

661
00:27:43,530 --> 00:27:46,260
and some scoop here, we have
some exciting things happening

662
00:27:46,260 --> 00:27:47,460
in the RPAC world

663
00:27:47,460 --> 00:27:50,100
that are being announced
in the coming weeks.

664
00:27:50,100 --> 00:27:52,800
An idea that is more than
five years in the making.

665
00:27:52,800 --> 00:27:55,800
The RPAC team is launching
a new low dollar direct

666
00:27:55,800 --> 00:27:58,680
to candidate giving program this month.

667
00:27:58,680 --> 00:28:01,710
After numerous conversations
with the APAC trustees

668
00:28:01,710 --> 00:28:04,320
and doing working groups

669
00:28:04,320 --> 00:28:07,980
and conducting industry
research, we are very thrilled

670
00:28:07,980 --> 00:28:10,290
that this is coming to life.

671
00:28:10,290 --> 00:28:12,960
This is for folks who are
donating to candidates,

672
00:28:12,960 --> 00:28:14,250
maybe doing that already.

673
00:28:14,250 --> 00:28:17,640
There's about $45 million in
the real estate space right now

674
00:28:17,640 --> 00:28:19,050
that goes directly to candidates.

675
00:28:19,050 --> 00:28:21,600
And that's just of
reportable contributions.

676
00:28:21,600 --> 00:28:25,470
If you donate under $200,
which many folks are doing now,

677
00:28:25,470 --> 00:28:27,630
that may not need to be reported.

678
00:28:27,630 --> 00:28:30,660
And so this platform is designed to ensure

679
00:28:30,660 --> 00:28:31,770
that when realtors

680
00:28:31,770 --> 00:28:34,470
or anybody interested in
private property rights

681
00:28:34,470 --> 00:28:37,410
and housing related issues
is donating directly

682
00:28:37,410 --> 00:28:39,930
to a candidate, a low dollar donation,

683
00:28:39,930 --> 00:28:41,550
that they have a platform to do that.

684
00:28:41,550 --> 00:28:44,160
So there's Act Blue out
there and there's Win Red

685
00:28:44,160 --> 00:28:46,830
and those are both considered
partisan portals in order

686
00:28:46,830 --> 00:28:49,530
to help contributions
get to the candidates.

687
00:28:49,530 --> 00:28:51,210
This one is non-partisan

688
00:28:51,210 --> 00:28:53,790
and it is fully related to property rights

689
00:28:53,790 --> 00:28:54,840
and housing issues.

690
00:28:54,840 --> 00:28:56,910
And we're very excited
about this new venture.

691
00:28:56,910 --> 00:28:57,990
- Five years in the making.

692
00:28:57,990 --> 00:29:00,540
Another one of your
visionary ideas is coming.

693
00:29:00,540 --> 00:29:01,805
- Think modern. Think modern.
- That's

694
00:29:01,805 --> 00:29:02,638
- Modern. Think

695
00:29:02,638 --> 00:29:03,130
- Modern.

696
00:29:03,130 --> 00:29:03,963
That's your goal. We're, well

697
00:29:03,963 --> 00:29:05,250
- The trustees really understood this

698
00:29:05,250 --> 00:29:09,000
and the, both the fundraising
and the disbursement side and,

699
00:29:09,000 --> 00:29:11,940
but wanted to, to do a deep
dive into really understand the

700
00:29:11,940 --> 00:29:12,960
fundraising industry

701
00:29:12,960 --> 00:29:14,670
and what we saw were just
these tens of millions

702
00:29:14,670 --> 00:29:17,010
of dollars out there that
are, that are being donated

703
00:29:17,010 --> 00:29:19,320
by our members, by folks who
care about the same issues.

704
00:29:19,320 --> 00:29:21,150
And this way we're giving
them a platform to do it.

705
00:29:21,150 --> 00:29:25,140
- Well, a recap, halfway
through the year already, 67%

706
00:29:25,140 --> 00:29:29,700
of our goal, almost 6,500
major investors, that's 30%

707
00:29:29,700 --> 00:29:33,990
of our 1.5 million membership
have given to rpac, just takes

708
00:29:33,990 --> 00:29:35,070
as little as $15.

709
00:29:35,070 --> 00:29:37,890
And as I like to say, it is
the absolute ultimate insurance

710
00:29:37,890 --> 00:29:42,280
policy for your business to
make sure that the issues

711
00:29:42,280 --> 00:29:46,090
for real estate that are most
important are being protected

712
00:29:46,090 --> 00:29:47,110
in our nation's capital.

713
00:29:47,110 --> 00:29:49,180
So, well thank you Shannon.

714
00:29:49,180 --> 00:29:54,040
I will see you in a few weeks in Boston.

715
00:29:54,040 --> 00:29:56,170
I'm gonna get out my winter coat.

716
00:29:56,170 --> 00:29:57,910
I, I lived in Boston for a, a short while

717
00:29:57,910 --> 00:29:59,470
and I have a, what's called a Boston coat,

718
00:30:00,460 --> 00:30:02,860
which I've never used
ever since I left Boston

719
00:30:02,860 --> 00:30:05,170
'cause it never gets cold
enough anywhere to use it.

720
00:30:05,170 --> 00:30:08,680
But, but we'll see you in Boston
live from, from the stage.

721
00:30:08,680 --> 00:30:11,140
So if you're coming to next, come

722
00:30:11,140 --> 00:30:16,140
by the advocacy scoop session
and take, come see Shannon.

723
00:30:16,810 --> 00:30:18,250
- Thank you. Well, we'll see.

724
00:30:18,250 --> 00:30:20,800
We'll, we'll see you
all after the election.

725
00:30:20,800 --> 00:30:22,600
- That's right. So that's the scoop.

726
00:30:22,600 --> 00:30:25,210
Thank you to everyone
listening to this podcast.

727
00:30:25,210 --> 00:30:26,380
Please be sure to subscribe

728
00:30:26,380 --> 00:30:28,690
and share wherever you get your podcast.

729
00:30:28,690 --> 00:30:30,760
And meet us right back
here for more advocacy

730
00:30:30,760 --> 00:30:31,780
- Scoop next time.

731
00:30:33,070 --> 00:30:36,105
Realtors are members of
the National Association

732
00:30:36,105 --> 00:30:36,938
of Realtors.