There’s a lot about icebergs that we don’t know, but most people believe there’s often much more to an iceberg than what we can see — that is, what lies below the water is usually much larger and more impressive than what we can see at the surface. Ergo the often-uttered “tip of the iceberg” to imply there’s more than what meets the eye. 

Unfortunately most people and most consumers don’t have that same feeling about REALTORS^®. And that’s frustrating. 

For over three decades, I’ve heard members voice frustration that the public perception of a REALTOR^® is that of a licensed agent or broker concerned only, or mostly, about a pending transaction and related commission check. Most consumers don’t know or appreciate the commitment most REALTORS^® have to their communities, their neighbors, their local economy and their fellow business owners. They only see the transaction-centric tip of the iceberg.

This frustration came through loud and clear in the five focus groups of members we held around the state last month as part of our strategic plan review process. The public perception of REALTORS^® was also a big issue three years ago when we conducted listening sessions for the original strategic plan. That frustration was so loud that we included a specific section in our plan dedicated to changing this public perception. That section is titled “preserve and protect the real estate marketplace.” To achieve this, the plan sets goals that include providing consumers with accurate and useful information about the real estate marketplace, communities and neighborhoods; supporting policies and activities that inform and educate elected officials, policymakers, the news media and community opinion leaders about the importance of the real estate marketplace to Wisconsin’s economy and its quality of life; and aggressively advocate for policies and activities that preserve and protect the real estate marketplace.

The fact of the matter is REALTORS^® do as much, if not more, for consumers after the transaction than the critical work they do for them during the transaction. For example, look no further than the recently concluded legislative session to see a multitude of new WRA-backed laws that protect and promote property owners’, and future property owners’, interests in Wisconsin. The 49 different legislative victories protect private property rights, remove hurdles to successful real estate transactions, make homeownership and property ownership more affordable, keep REALTORS^® at the center of the transaction, revitalize our downtowns, make ownership of rental property less onerous, and remove regulatory barriers to residential and commercial development. Through our political and electoral involvement with RPAC, our effective professional lobbyists, and our member engagement in contacting elected officials in person or in response to Calls to Action, we support homeowners and property owners long after a transaction. 

In the coming weeks, you’ll see the launch of a new project that will help consumers, opinion leaders, the media and our own members better understand the importance of real estate to Wisconsin’s economy and quality of life. The project is aptly called Insights, a new web-based quarterly report that will take an in-depth look at key issues in the real estate marketplace and how they impact consumers and our economy. This new report is the latest partnership between the WRA and the Graaskamp Center for Real Estate at the UW-Madison School of Business, which is the leading graduate real estate program in the country. The first issue will take a deep dive into the Millennial generation — a distinct segment of the market that will become the largest generation of homebuyers in American history. The report includes numerous charts, graphs and related articles and materials, all of which will be archived for future use and reference. Each report will contain a section on what REALTORS^® should know about the issue but also what the public should know about how the issue touches them. We hope readers — be they members, the media or the general public — will better understand the link between REALTORS^®, real estate markets and the state’s economic well-being. We also hope this new endeavor will address the frustration of our members and the goals of the strategic plan. 

Oceanographers and biologists study icebergs because they influence currents, ocean circulation and sea life far beyond their origins. And as icebergs melt, they leak nutrients into the ocean around them, producing waters teeming with plankton, fish and other sea life. While we can only see the tip, what lies below the surface has a tremendously positive impact on its surroundings. Let’s strive to better reveal what REALTORS^® do beyond the transaction, below “the surface,” for homeowners, communities and the economy. Like the iceberg, what we do beyond the transaction is much larger and more impressive than most people see.