Event Coverage
Another Year with Good News - No Hike in SILVAR Membership Dues!
This year's Silicon Valley Association of REALTORS® Economic Seminar & General Membership Meeting was attended by nearly 400 members who had the opportunity to hear many new and great things about their membership at SILVAR. News most welcomed was the announcement that member dues would remain the same, with no increase next year. Also, if they didn't know already, they learned that SILVAR's headquarters is now located at 10040 Bubb Road in Cupertino.
Members were welcomed by 2019 President Alan Barbic, who thanked them for their support all year. Barbic encouraged members to get involved with the Association.
"If you ever get tapped, answer the call and jump in with both feet," said Barbic.
SILVAR Executive Officer Paul Cardus thanked everyone for their membership, noting "We know you have a choice." Cardus reported SILVAR as over 5,300 members, with 5,146 REALTORS® and 189 Affiliated professionals. Among REALTOR® members, 4,829 are primary REALTORS® and 317 are secondary REALTORS®.
Membership has grown 79 percent since 2002. Los Gatos-Saratoga continues to be the largest District with 1,986 members, followed by Cupertino-Sunnyvale, 1,241; Los Altos-Mountain View, 562; Palo Alto, 486; Menlo Park-Atherton, 471; and 400 at-large members.
SILVAR continues to maintain a 12-person staff and the Association's finances are solid. The Association will operate with a $2.12 million budget in 2020. Cardus indicated in 2020 and for the past few years, REALTOR® dues account for 46 percent of Association income. Other income comes from revenue from a leased commercial property on Foothill Blvd., which SILVAR owns free and clear and rents from two tenants at SILVAR's new headquarters.
When Cardus announced SILVAR will not be raising dues next year, members cheered. SILVAR has not raised membership dues since 2002.
Cardus then highlighted many achievements of the Association. PRDS on Instanet has had 2,750 unique users in the first three quarters of 2019. PRDS is SILVAR's "crown jewel." Cardus also encouraged members to use PRDS on the zipPlus platform, which has also been well received and used by 1,700 members since its launching in April 2019. The goal is to transition all members to PRDS on the zipPlus platform in 2020.
After winning five consecutive platinum awards, SILVAR's Global Business Council received the Diamond award from the National Association of REALTORS® last year. The award is presented every two years and SILVAR hopes to win it again next year.
The Silicon Valley REALTORS® Charitable Foundation has donated over $40,000 in the form of grants and scholarships to date in 2019. The John Tripp Silicon Valley REALTORS® Scholarship grants $500 dollar awards to veterans enrolled at Foothill and DeAnza colleges. The Foundation will be establishing another scholarship for veterans at West Valley College. The Charitable Foundation also presents a $1,000 grant to 18 graduating seniors from public high schools in Silicon Valley. The Foundation has been assisting students with the scholarship grants for 20 years with a total of $360,000 awarded. In 2020, the scholarship grant will increase to $1,500.
Cardus ended by announcing that next year SILVAR will be celebrating its 25th anniversary and thanked members for that. Quoting esteemed poet Maya Angelou, Cardus said, I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel. "We hope you feel that way about SILVAR. We are a tremendous association with tremendous value. I am very proud of the service we provide."
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The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
For further information, please email or call the SILVAR office at (408) 200-0100.