Dues Increasing by $20
For the first time in nearly a decade, the Colorado Association of REALTORS’® leadership has voted to implement a permanent dues increase of $20 per member beginning in 2024. So, what does this increase mean for you and why did the leadership team elect to do it?
A dues increase is a permanent increase to your statewide membership dues that is applied to help your state association fund the services we offer our members, including political advocacy, market trends, research, professional development, legal services, business services, and other member benefits. After a comprehensive financial analysis by a CAR Financial Sustainability Presidential Advisory Group (PAG), including the Finance Committee and members from across the state, the association’s leadership voted for a dues increase as the most prudent step to maximize the long-term benefit to our membership in the face of record inflation. Since our last permanent dues increase, we have watched expenses rise roughly 27%.*
*Inflationary percentages by year based on Forbes data.
In addition to the work done by the PAG, the CAR staff has worked diligently to evaluate and begin implementation of several steps to help reduce expenses across administrative functions and vendor and service agreements. These recommendations and steps are designed to optimize CAR’s financial health and include:
While we understand that it is never pleasant to have to face an increase in the cost of doing business, the Colorado Association of REALTORS® is committed to ensuring that you receive top-quality benefits as part of your association membership. If there is something you would like to see us add to our list of benefits, or have suggestions for additional courses and tools, please feel free to reach out to us.