Managing Brokers play an important role in the REALTOR® organization. When a Broker joins an association and becomes a REALTOR®, they also become an integral part of helping their agents become REALTORS®. The National Association of REALTORS® (NAR), the Colorado Association of REALTORS® and SMDRA provide additional support to Managing Brokers.
Dues Responsibility of Managing Broker/Owners
Commonly referred to as the “Dues Formula”, NAR Bylaws state the Managing Broker’s dues are equal to the number of agents in their office times the dues amount. Since we bill each REALTOR® individually, the Managing Broker’s dues are reduced each time a dues payment is made by an agent.
We audit the Primary and Secondary offices with SMDRA memberships throughout the year to help keep you compliant. When agents are found to be inactive or have no REALTOR® membership, but should be active, we will send an email and a letter to the Managing Broker with the list of agents. This helps keep communication between SMDRA and the Managing Broker open so there are no dues surprises.
Resources for Managing Broker/Owners