I recently had the privilege of speaking to the Chattanooga Chamber of Commerce. Since then, I’ve been reflecting on how similar our two organizations are to one another. After all, when it comes to jobs and homeownership, you can’t have one without the other.
Jobs are created every time a house is built, bought or sold? One job is created for every two homes sold, and each home sale touches 80 occupations.
A National Association of Realtors’ 2020 study of Tennessee home sales shows each home purchase generates an estimated $75,000 in economic activity over time.
Furniture, home improvements, landscaping – all these businesses benefit from just one home sale. The real estate industry accounted for $59.6 billion in Tennessee alone, 16.4% of the gross state product, in 2020. Clearly, the economic impact of a typical home sale is anything but typical.
And like the Chamber’s role in promoting positive relations within the business community, Greater Chattanooga Realtors promotes positive relationships throughout our real estate market.
Even though Realtor members compete daily amongst themselves for listings and buyer or tenant clients, we see the common good of promoting homeownership in our community.
I’ve found that many people, including Realtors, might not fully grasp the role of Greater Chattanooga Realtors in our community. Our advocacy efforts are likely where the community (and heck, even our members at times) see that Greater Chattanooga Realtors is about much more than getting people into homes and the next commission check. Through the Association, Realtors focus on all things impacting private property rights.
In local news, you might hear Realtors take a position on a city or county initiative such as form-based code, stormwater requirements or payment in lieu of taxes (PILOT) programs.
Taking positions on such issues is not self-serving to protect our profession. Realtors firmly believe in the delicate balance between the local economy and the real estate market.
For instance, since our association is working on behalf of property owners, housing affordability is constantly on our minds. We believe in the power of owning a home, and we’re working with different organizations to make the dream of owning a home a reality for the people of our community.
Through various committees and the Greater Chattanooga Realtors staff, Realtors are constantly monitoring local initiatives that could impact, positively or negatively, the real estate market and our community. When needed, just like the Chamber, we meet with elected officials to discuss such initiatives and any concerns we have.
Partners like the Chamber help bring talented individuals and their businesses to our area, and it’s our job to make sure their housing needs are met. We all work together for the benefit of everyone.
We’re excited to continue to work with our partners in making sure Chattanooga remains a great place to live and work. That’s Who We R.
Greater Chattanooga Realtors is The Voice of Real Estate in Greater Chattanooga. A regional organization with more than 2,400 members, Greater Chattanooga Realtors is one of 300 local boards and associations of Realtors nationwide that comprise the National Association of Realtors. Greater Chattanooga Realtors services Hamilton and Sequatchie counties in southeast Tennessee and Catoosa, Dade and Walker counties in northwest Georgia. For more information, visit www.gcar.net or call 423 698-8001.