Since 2008 the real estate market has seen a deep decline and this has meant a sharp decrease in the memberships of local building and realtor associations. For businesses small and large these associations can mean a lot for their bottom line and for their employees.
Although the competition can be rough in good and bad economies local businesses come together to foster the development of communities. Working with local, state and federal government associations can increase the quality of product that is offered to home buyers.
They also use their associations for employee benefit purchasing in group plans and insurance for both business and health care.
Although there has not been a total stoppage of residential building the number of new home permits has decreased by about 18% to just over 500,000. When looking at the number of homes on the market it is slightly amazing that even a half million new homes are planned to be built in 2011 but many of the homes are custom or higher dollar construction properties.
The day when small to medium sized home builders would produce spec homes prior to having a contract signed are long gone. This has increased marketing costs for developers and realtors that need to find an exact customer rather then offer a range of homes to a range of buyers.
Associations that provide services for builders and realtors also educate businesses on how to stay afloat in a market downturn.
Smaller local associations like the Haywood Home Builders Association of North Carolina have resorted to turning meetings from a board room type event into a party atmosphere. Membership in their local area has been dramatically cut in half and with just over 100 members remaining they have had to get creative in ways to attract and keep members.