Newly-formed or relaunched state and local YPN groups are about to get a little help from their NAR friends.
The National Association of REALTORS® Board of Directors gave final approval on a proposal put forth by the YPN Advisory Board to establish a $6,000 annual fund that would support events and programs to help networks become established.
“We’ve had the same budget for a long time, so we’re excited to be doing new things,” said Krista Clark, 2017 chair of the YPN Advisory Board, during the REALTORS® Legislative Meetings & Trade Expo on May 16. The grant money will provide YPNs with a means to connect with members and build involvement through kick-off, education, networking, RPAC, or other events.
Elizabeth Mendenhall, 2017 NAR president-elect, addressed the YPN Advisory Board during the REALTORS® Legislative Meetings & Trade Expo, encouraging leadership and involvement.
Four new network grants at $1,000 each, and four revitalized network grants at $500 each, will be available each year. Networks will be required to apply for a portion of the grand money through their sponsoring REALTOR® Association, which would be responsible for handling the funds if approved. A new YPN is defined as having submitted paperwork for recognition within 12 months of applying for the grant, and the funds must be used for the event referenced in the application. YPN are ineligible if they’ve hosted an event in the 12 months preceding the event referenced in the application, and if they’ve ever been the recipient of a Network of the Year Award. The YPN Advisory Board will review applications and award grants on a quarterly basis.
The NAR Board of Directors approved a new annual travel stipend of $3,000 per YPN Advisory Board member, which will be used to reimburse travel costs accrued by individual Advisory Board members who trek across the country to support local and state YPN groups. The reimbursement will be capped at $1,000 per event unless otherwise approved by the advisory board in advance, and only one member will be reimbursed for attendance any single YPN event.
During their travel to YPN events, Advisory Board members are required to discuss the NAR YPN Pledge, Network of the Year Awards, upcoming NAR meetings and events, and other talking points as determined by the groups involved.
“We’re proud to have this platform to extend our reach,” said YPN Advisory Board member Tommy Choi. “This will also be tool we can tweak every year to see how we can support the networks out there.”
In addition, the Board of Directors also approved a one-time $30,000 budget for a national YPN website revamp. The YPN Advisory Board is just beginning the planning phase of the project, but Clark said the goal of the new site is to provide YPN members with content, videos, information, and resources that will help them grow and sustain their business.
For more information on any of the budget items listed above, contact Rob Reuter at rreuter@realtors.org.