Realtracs January 2025 Recap

2025 RPAC President's Circle Recap!

Meet Darla, our 2025 TREEF Liaison for Sumner REALTORS®. With her second year in this role her goal is to support and promote high-quality, educational opportunities for Sumner REALTORS® members. In this role, she helps connect local REALTORS® with the high-quality educational resources and programs that TREEF provides statewide. Check out the newly updated 2025 TREEF catalog for courses like CORE 2025-2026, Purchase & Sale Agreement Basics, and more!

SELL-A-BRATION ® : March 18 - 19 | Nashville

Platinum Preferred Partner Spotlight: First Trust Home Loans

DIRECTOR'S NOTE

Day on the Hill took place in Nashville, TN on Wednesday, February 12th at the Tennessee State Capitol. Sumner REALTORS® members, including committee members and leadership, attended. This included local association meetings with state legislators and a Legislative Leadership Address in the Senate Chamber.

On Monday, February 10, and Tuesday, February 11, members of Sumner REALTORS®, including committee members and leadership, participated in the TNEX Summit. This summit featured several key events, including the Governmental Affairs Committee Meeting, the Tennessee Association of REALTORS® Association Executive Forum, and the Broker Involvement Forum. There was also an RPAC Celebration and Awards, East, Middle, and West Division Caucuses, a President and President-Elect Exchange, a Board of Directors Meeting, and a Legislative Reception. In addition to these main events, attendees had the chance to take part in educational classes and earn Continuing Education (CE) credits. Event Recap Day 1: - Governmental Affairs Committee Meeting - Tennessee Association of REALTORS® Association Executive Forum - Broker Involvement Forum - RPAC Celebration and Awards Day 2: - Eastern, Middle, and Western Division Caucuses met - President and President-Elect Exchange - TREC Panel - Board of Directors Meeting - Legislative Reception

How long have you been working in the real estate industry? I got my license in 2007. How did you get into real estate? I started as an assistant to an agent at Goodall Homes. I needed a job, and I did almost everything for her—so much so that I decided to go to school and get a license myself. What inspired you to join Sumner REALTORS®? I’ve always been a local girl, and I’m from Hendersonville. When I got my license, I didn’t consider any other association because Sumner REALTORS® felt like home. What goals or metrics would you like to help Sumner REALTORS® achieve in 2025? This will be my third year on the Professional Development/Education Committee , and I've seen significant improvements in our classes, instructors, and overall involvement. One of my top goals is to emphasize the importance of being a REALTOR® rather than just an agent—because that distinction truly sets us apart in our industry. What is one key lesson or insight you’ve learned over the years in this industry? Always cheer for others. There’s enough business for everyone, and comparing yourself to others only robs you of joy. What’s one thing you’re particularly excited about in 2025? I believe 2025 will be a great year. I’m starting strong for 2025. I am also very passionate about mentoring and teaching agents. I aim to create a mentor program that can help new professionals thrive. How do you see Sumner REALTORS® making a difference in the community or industry you are in? We’re active in the community through initiatives like Habitat for Humanity and The Care Cabinet. It’s not just about selling homes; it’s also about caring for and investing in our neighbors. What advice or words of encouragement would you give to someone aspiring to join the Board or take on a leadership role? Whatever you do, do it with excellence. Be mindful not to overcommit yourself—balance is crucial. You want to represent the association well but also have a business to run. How do you enjoy spending your time outside of work? I have four adult children—two sons and two daughters—and Sundays are our big family day. I cook, we go to church, and we’re all huge football fans. I also have two Goldendoodles, Zoe and Winston, who keep me on my toes. What is something that most people might not know about you? I was adopted.

CEO Jeff Hebb and President Brian Stewart attended the Memphis Area Association of REALTORS® (MAAR) Installation, Honors, and Awards event on Wednesday! Congratulations to Greg Renfrow, the 2025 President and Board of Directors: Tim O’Hare, Lana Fowler, Zach Thomas, Chelena Allen, Cathy Anderson, Jennifer Arendale, Jonathan Aur, Amy Batson, Tina Black, April Davison, Kevin Holt, and Sheryl Wells! It was great to connect with MAAR leaders and members, including CEO Amanda Creel, Carmen Prince, Regina Hubbard, Frances Anderson, Leon Dickson, Rosemarie Fair, Cassandra Bell-Warren, and Kathryn Garland. Here’s to a successful 2025! #Leadership #REALTORS #Installation #Awards #MAAR

How long have you been working in the real estate industry? I've been in the real estate industry since 2013. How did you get into real estate? Buying my first home sparked my interest in becoming a REALTOR®. What inspired you to join Sumner REALTORS®? I was encouraged by coworkers and members like Shellie Tucker and others who were already involved. What goals or metrics would you like to help Sumner REALTORS® achieve in 2025? Enhancing educational opportunities for REALTORS®, encouraging deeper community involvement, helping REALTORS® better demonstrate their value, and expanding the resources and tools we offer to support their careers. What is one key lesson or insight you've learned over the years in this industry? The most important lessons I've learned are the value of strong communication, the ability to collaborate effectively, and adaptability. This industry is ever-changing, and success comes from staying educated and flexible while continuously improving. What's one thing you're particularly excited about in 2025? I'm excited about the new approaches we're exploring to support REALTORS® and Affiliate Partners. It's all about creating meaningful impact—focusing on quality over quantity—while growing education and fostering stronger community connections. How do you see Sumner REALTORS® making a difference in your community or industry? I believe in giving back and addressing the diverse needs of our community. There's always an opportunity to make a meaningful impact, whether supporting local charities or raising funds for important causes. This organization should earn recognition as a dependable resource that steps up in times of need. For example, during the hurricane that hit East Tennessee, a group of us, including fellow REALTORS®, took immediate action. We went to Sam's Club, purchased four pallets of water, food, diapers, and clothing, and delivered them to Newport and Morristown. It was a team effort, demonstrating our heart and dedication to serve others when it matters most. This responsiveness and compassion reflect our organization's values and reinforce the positive impact we can have in the community and within our industry. What advice or words of encouragement would you give someone aspiring to join the Board or take on a leadership role? Be willing to participate fully and stay flexible. Time management is key to balancing your volunteer role with running your business. Leadership isn't easy, but delegating tasks and knowing your limits can help you succeed without compromising your business. How do you enjoy spending your time outside of work? As a business owner, I don't have much free time, but when I do, I love playing golf, fishing, and traveling. What is something that most people might now know about you? I have a deep passion for politics, especially at the local and state levels. I plan to continue pursuing a political career in the future, whether in county or state government.

With rapidly changing buyer preferences and abilities, there has been a lot of migration within the United States over the past few years. As seen in the chart to the right, southern states such as Florida, Texas, and the Carolinas have been big winners in these domestic migration patterns, largely led by more affordable conditions and opportunities. According to U.S. Census Bureau data, 42% of these moves were driven by housing reasons, 26% for family reasons, 16% for employment reasons, and only one percent moved due to climate-related reasons. The available Census Bureau data provides information surrounding where Americans move and in what volumes, but there is less available data surrounding why Americans move to a specific area and what drives those decisions. With this in mind, the National Association of REALTORS® Research Committee decided to conduct a survey of its members to analyze the drivers and motivators of their clients moving to different areas within the country. Throughout the report, the data is also broken down by movers to each of the four regions of the U.S. (Midwest, Northeast, South, and West) to identify any differences in drivers to different regions; regional definitions can be found in the Methodology section of the report. Here are some of the Key Findings Millions of Americans move and migrate throughout the nation, and this has been exacerbated by the surge of remote work and current affordability issues in the market. With varying priorities of America's home buyers, let's take a look at what drives individuals to move to specific areas and how that compares regionally: Migration Patterns In 2024, nearly half of all movers (46%) headed to the South, while 25% chose the West, 18% went to the Midwest, and 11% moved to the Northeast. Reasons for Moving Closer to Family (30%) The most common motivation was the desire to live near relatives and friends. Affordability (21%) Many sought more reasonably priced housing to better fit their budgets. Tax Benefits (16%) Lower tax rates—particularly in the South—played a significant role for some movers. Safety (16%) & Proximity to Work (15%) Concern for safer neighborhoods and easier commutes also factored into relocation decisions. Movement Trends In-State vs. Out-of-State While 36% of movers crossed state lines, 63% chose to stay within their own state, simply relocating to a different city or region. Returning to Familiar Places About 18% decided to move back to areas they had lived in before—a trend especially noticeable in the Midwest (24%) and the West (20%). Home Preferences Outdoor Spaces (42%) Nearly half of homebuyers were drawn to properties with appealing outdoor areas. More Space (31%) A substantial group sought larger square footage to accommodate their needs. Quiet Neighborhoods (24%) Many buyers prioritized living in areas known for peace and tranquility. Implications for Real Estate Professionals Understanding Clients’ Needs Recognizing that proximity to family, affordability, and favorable tax conditions are major motivators helps professionals refine their approach and better meet clients’ goals. Regional Knowledge Staying informed about local trends and attractions—especially those driving migration—allows agents to offer more targeted support and guidance. Highlighting Features Showcasing properties with desirable traits such as outdoor living spaces, ample square footage, and quiet neighborhoods aligns with what many buyers currently want.

 The Supreme Court of the United States (SCOTUS) recently heard an emergency appeal from the U.S. Department of Justice regarding enforcement of the Corporate Transparency Act (CTA) and the Business Ownership Information (BOI) Rule. SCOTUS sided with the government and lifted an injunction against enforcing the CTA and the BOI Rule on one case. However, a nationwide injunction issued by another court preventing enforcement of the CTA and the BOI Rule remain in place. This means reporting companies are not currently required to file beneficial ownership information reports with FinCEN. However, reporting companies may continue to voluntarily submit beneficial ownership information reports to FinCEN, while these cases work their way through the courts. The CTA is a 2021 law designed to enhance transparency and prevent the illicit use of anonymous shell companies. The CTA requires the Financial Crimes Enforcement Network (FinCEN), a bureau within the Treasury Department, to enforce the law by collecting beneficial ownership information from reporting entities and beneficial owners. In December 2024, the 5 th Circuit Court of Appeals questioned the constitutionality of the CTA and the Beneficial Ownership Information (BOI) Rule and prevented the government from enforcing the law. The Litigation on this matter continues, and the 5th Circuit will hear oral arguments on the constitutionality of the CTA on March 25, 2025. This means that as a reporting entity and company, you may voluntarily comply at this time. NAR will continue to provide additional updates and information on the law. Please find information regarding the SCOTUS decision here . For the latest updates, also please view, fincen.gov/boi . FinCEN recently issued the following impact statement: In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports. **** On January 23, 2025, the Supreme Court granted the government's motion to stay a nationwide injunction issued by a federal judge in Texas (Texas Top Cop Shop, Inc. v. McHenry-formerly, Texas Top Cop Shop v. Garland). As a separate nationwide order issued by a different federal judge in Texas (Smith v. U.S. Department of the Treasury) still remains in place, reporting companies are not currently required to file beneficial ownership information with FinCEN despite the Supreme Court's action in Texas Top Cop Shop. Reporting companies also are not subject to liability if they fail to file this information while the Smith order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.

An update from Charlie Lee, Senior Counsel and Director or Legal Affairs Sharing an update that various plaintiffs' firms, including Ketchmark, have filed a new copy-cat class-action lawsuit against brokerages and two non-association-owned MLSs in the Western District of Missouri (the same jurisdiction as Sitzer-Burnett) this evening. The complaint challenges offers of compensation and is brought on behalf of sellers. Of course, due to the settlement, NAR is not a defendant in the case but is named extensively in the complaint. The complaint does not allege a transaction volume for all defendants. The complaint explicitly alleges that Washington Fine Properties, House of Seven Gables Real Estate, and Signature Premier Properties of Huntington have sales volume of over $2b. We are reviewing the other brokerages that are named. The named brokerages are: Washington Fine Properties House of Seven Gables Real Estate Side Signature Premier Properties of Huntington J.P. Piccinini Real Estate ("JPAR") / Cairn Real Estate Holdings / Your Castle Real Estate First Team Real Estate – Orange County The named MLSs are: Central New York Information Service Brooklyn New York MLS We are reviewing the complaint in more detail and will share updates. We are sharing this update with the Leadership Team, Executive Committee, Board of Directors, and state and local AEs.

Diamond Preferred Partner Spotlight: Jonathan Blayney Goosehead Insurance Agency

What inspired you to join Sumner REALTORS®? I initially joined this organization because I wasn’t sure how to get involved in real estate. When I learned about the opportunities here, I knew it was the perfect place to start. I wanted to connect with REALTORS® and immerse myself in the community. This organization offers so many chances to engage in community events and meet like-minded professionals—brokers, REALTORS®, and more. It’s an incredible network filled with learning opportunities. I also empathize with the challenges many face in this industry because I experience them firsthand on both sides of the transaction. Are there specific goals or metrics you’d like to help Sumner REALTORS® achieve in 2025? My primary goal for 2025 is to maximize fundraising for the golf tournament, which is one of our organization’s largest fundraisers. It’s both nerve-wracking and exciting to take on such an important responsibility, and I’m eager to exceed Jeff’s expectations for 2025. What is one key lesson or insight you’ve learned over the years in this industry? One key lesson I’ve learned in this industry is to always remember that, at the end of the day, we’re working with people. Whether it’s buyers, sellers, or those navigating the mortgage process, they all have questions and concerns, and they think, act, eat, and sleep just like we do. I’ve found it invaluable to ask myself: How would I want to be treated in this situation? How can I show empathy and understanding? I’ve also learned the importance of being honest and reliable. Never overpromise and underdeliver—always follow through on what you say you’re going to do. What’s one thing you’re particularly excited about in 2025? I’m particularly excited about the personal growth I’ve planned for 2025. This year is all about stepping up—marketing myself more effectively, becoming a better person, and building stronger connections in both my personal and professional life. I’m currently reading The Gift of Being Yourself, which has inspired me to focus on growth as a dad, husband, and individual. By becoming more disciplined and intentional, I’m confident these improvements will ripple through my business, relationships, and overall success. How do you see Sumner REALTORS® making a difference in the community or your industry it serves? Sumner REALTORS® has provided me with incredible opportunities to explore my passions and engage in meaningful community outreach. Through initiatives like The Care Cabinet and our commitment to fundraising, Sumner REALTORS® has given me a sense of purpose and a deeper understanding of the impact we can make as an organization. It’s opened my eyes to causes and missions I may have never discovered otherwise. I’ve also gained a new appreciation for the hardworking individuals who balance contributing to the community with running their businesses. Sumner REALTORS® has introduced me to remarkable people I wouldn’t have had access to otherwise, and it’s inspiring to see the difference we can make together. What advice or words of encouragement would you give to someone aspiring to join the Board or take on a leadership role? Yes, it’s a lot of work, but it’s also incredibly rewarding and enjoyable. The work we do, especially through Sumner REALTORS®, provides a fresh perspective and a sense of purpose. It’s inspiring to see everything come together seamlessly for a shared mission. Leadership in this space isn’t just about hard work—it’s life-giving, not life-taking. It’s a chance to grow, connect with amazing people, and make a meaningful impact while genuinely enjoying the process. How do you enjoy spending your time outside of work? Outside of work, I love spending time golfing with friends—it’s one of my favorite ways to relax and unwind. I also really enjoy getting involved in coaching my kids in their sports. Watching them grow up and participate in hockey, baseball, basketball, soccer, and more is incredibly rewarding—sometimes I think I enjoy it even more than they do! Beyond coaching my own kids, I also find great joy in mentoring and coaching other children, helping them develop skills and confidence on and off the field. What is something that most people might not know about you? Something most people might not know about me is that I have an extensive bourbon collection. It’s a hobby that’s both fun and, admittedly, a little expensive! I also enjoy building and creating things. I’ve worked on projects like building our deck at home, helping others with their decks, and even crafting furniture like tables and cabinets. I love tinkering and taking on DIY challenges, from kitchen remodels to smaller woodworking projects—it’s a great way to combine creativity and hands-on work.

The National Association of REALTORS® (NAR) today announced it has engaged industry veteran Sherry Chris as an independent consultant and special advisor to NAR CEO Nykia Wright. In this role, Chris will provide strategic counsel on strengthening relationships, building trust and enhancing collaboration with brokerage leaders. “Sherry brings unmatched expertise and a unique, well-informed perspective on the real estate brokerage landscape, which will be critical as we enhance NAR’s collaboration with industry partners and drive stronger alignment across the sector,” said Wright. “Her ability to build meaningful connections and offer forward-thinking perspectives will help guide NAR’s approach to meeting the complex and varied needs of the real estate community.” Chris brings a wealth of experience and proven leadership to this new advisory position. She is an 18-year veteran of Anywhere Real Estate Inc., where she most recently served as Executive Advisor. Previously, she was the CEO of Better Homes & Gardens Real Estate (BHGRE) and ERA Real Estate and earlier as COO for Coldwell Banker Real Estate. Chris is widely regarded for her success in guiding the BHGRE and ERA brands’ strategic growth, franchise sales and marketing innovation, and mentoring new generations of real estate leaders. Under her leadership, BHGRE grew significantly across over 40 U.S. states and six countries and established a unique position as real estate’s lifestyle brand. ERA saw similar growth during Chris’ tenure, expanding its reach to 43 U.S. states and 34 countries. “Having known Sherry for nearly a decade, I know firsthand that she is well equipped to provide the kind of leadership and insight that comes from years of experience, rising the ranks from a practitioner to a branch and regional manager and finally as a leader at the helm of several major brokerages and brands – a unique perspective that speaks to the diverse needs of our members,” said Kevin Sears, President of NAR. “Her extensive leadership experience with brokerages both large and small provides her with a nuanced understanding of the challenges and opportunities across the industry. Sherry’s ability to build relationships and foster collaboration will be instrumental in strengthening connections and ensuring NAR remains a trusted partner for the entire real estate community.” In addition to her C-Suite roles, Chris has been deeply engaged with the real estate industry’s most impactful member and advocacy organizations, including NAR’s Real Estate Services Advisory Group, where she previously held the role of board Chair, and The Realty Alliance, for which she served as its first female board chair. She is also a founding corporate member of the LGBTQ+ Real Estate Alliance. She is also a member of the Asian Real Estate Association of America and a past board member of its education foundation. For her many contributions to the industry, Chris was inducted into the RISMedia Newsmakers Hall of Fame in 2021, and she is regularly recognized as one of Inman’s 100 Most Influential Real Estate Leaders. Chris has also been recognized as a HousingWire Woman of Influence (2021), a leader in the Swanepoel Power 200 list, a Luminary in RISMedia's Newsmakers list, an industry Gamechanger by RealTrends, one of the Most Influential Real Estate Executives by Real Estate Executive Magazine, and a member of Diversity Journal's Diversity Leader Women Worth Watching lists. Chris’ limited scope as part of her advisory role to NAR will include working closely with Wright to engage one-on-one with brokerage leaders, soliciting their needs, concerns and perspectives on the future of the industry. Their outreach will focus on fostering open dialogue and identifying opportunities for NAR to better support brokerages and their agents. “I am honored to work alongside Nykia and the leadership team at NAR during such an important time for our industry,” said Chris. “My goal is to better understand the concerns and priorities of brokerage leaders across the country and help create solutions that drive trust, value and collaboration for the very many important stakeholders in real estate.”

Home Sales Take Leap

Message from Kevin Sears

Americans Are Moving, But Not for a Job

Existing-Home Sales Grew 3.4% in October; First Year-Over-Year Gain Since July 2021

Residential Economic Update