Growing. For Good.

As demand for housing has increased rapidly throughout the area in recent years, Boise Regional REALTORS® has been growing to meet the needs of the real estate professionals working hard to serve buyers and sellers.

That being said, we’re thrilled to introduce the Boise Regional REALTORS® Education Foundation, a new nonprofit that will enable the association to expand its professional development offerings, increasing the frequency of popular courses and launching new content on professionalism, business management, and resources specific to various career phases. To accommodate the expanded programming and provide more meeting space for members, Boise Regional REALTORS® will build a new association office, slated to open by early 2023.

Curious to learn more? Details on the offerings of the REALTORS® Education Foundation and the features of the new association office can be found below! See our building updates here. 

The Foundation

What will it do and provide?

• Promote careers within the real estate industry through an enhanced career center
• Scholarships to help people obtain their license and advance certifications
• Grants for prospective homebuyers, to be provided in partnership with other nonprofits and lenders
• Resources specific to various career phases and interests
• New content on professionalism, business management, and REALTOR® development

The Building

What are the new features?

• Central location in the Gramercy District in Meridian, near the southwest intersection of Overland and Eagle Roads
• Two classrooms allowing for more classes more frequently, with updated technology throughout
• Larger member lounge and coffee bar, with drop-in workspaces and private phone booths
• Expanded store offering even more products, with new options for rider signs and custom orders
• Studio space for recording videos and streaming courses, with rental options for members

Construction is currently underway. See our progress here.

More details on the new association office, specifically, will be made available in the coming weeks. In the meantime, please scroll to the bottom of this page and view our compiled list of frequently asked questions.

We look forward to this new chapter in the association’s history, and most importantly, finding new ways to best serve YOU (our members!).

Frequently Asked Questions

Why do you need a physical office with so much moving to virtual?
The pandemic ensured that we were able to serve members virtually, and we will continue to provide high-quality digital resources and classes that are accessible anytime! It also reinforced the value members place on our in-person services, and the demand is greater than ever. We host at least 400 events per year, and the new space will allow us to offer even more options for in-person meetings, classes, and drop-in workspace for members to enjoy.

Why are you moving to Meridian? Aren’t you the Boise association?
We’re the Boise regional association, serving members in Ada, Elmore, and Gem counties, and as the center of the Treasure Valley has shifted west, so has our membership base. The new office in Meridian was selected because of its central location and proximity to many other related businesses. It will also have much better access to the freeway being close to the Eagle and Overland intersection.

Why didn’t you just renovate the existing building?
We explored a renovation, but it was going to cost… a lot. Initial projections were more than $800,000 for just a portion of the building. That didn’t include upgrades to the HVAC system or installing new A/V equipment in the classroom… plus, it would not have solved the key issue, which is lack of parking. When the Board of Directors weighed the cost of a renovation against selling and rolling the equity into a new space with more parking and a more central location, the decision to move was clear.

Wouldn’t it have been cheaper to buy an existing property?
We looked at a variety of existing spaces, and ruled options out due to renovation costs, lack of parking, location, etc. Our REALTOR® found a developer who had the perfect parcel of land — with a lot of room for parking! — and who was willing to work with us to build a new office that not only meets our member’s needs, but also fits within our budget.

Why didn’t you consider leasing office space?
We looked at leasing options, but ruled out most for the same reasons as the existing properties we toured. Plus, we’re an organization that promotes the value of property ownership. Purchasing real estate for the association office is in alignment with our mission.

I heard you’re considering a capital campaign? It’s real estate, just finance it.
Early on in our planning process, we gathered feedback from industry leaders about our ideas for the Foundation and building, and were humbled by the interest from some organizations to support both initiatives. With that in mind, the Board of Directors approved the development of a capital campaign to bring in dollars to offset some of the building costs, allowing us to prioritize current resources for existing member services, while also sourcing new funds to develop the new programming planned for the Foundation. However, we are not looking for campaign contributors to fund this initiative in total. The investment in the Bethel Court building more than 20 years ago was a wise move, as the proceeds from the sale will offset nearly 38% of the expected cost.

I never come to the office. Why are you spending my dues dollars on a building?
If you’ve never visited BRR – you should stop in! The association office is meant to be a space for members like you, whether you need to take a class, buy a rider sign, work for a few hours between appointments, or just grab a cup of coffee. It also serves as the headquarters for the BRR staff, who work hard each day to deliver the best programs and resources to support your business. You can connect with us in person weekdays between 8:30 a.m. and 5:00 p.m., or anytime by phone or email!

What does BRR actually do?
Great question! BRR helps members succeed in real estate by connecting them to a huge professional network through events and social gatherings; providing educational opportunities such as free CORE classes, a variety of CE options, and designation and certification courses; and, advocating for legislative initiatives that are favorable to the industry and private property rights. Dig into boirealtors.com/membership/member-benefits to learn more, or reach out to anyone at BRR. We’d be happy to connect you to resources specific to your business!

Why isn’t IMLS in the same building anymore? Does this mean members are paying for two buildings?
BRR is a non-profit 501(c)(6) trade association and has owned the Bethel Court building outright for a number of years. Intermountain MLS is a for-profit organization, and a subsidiary of BRR, but is operated separate from the association. IMLS had been leasing space from BRR, but with the growth of both organizations over the past few years, the decision was made in 2019 for each to move into their own offices. With the help of our REALTOR®, IMLS purchased a building with leasable space, so the mortgage is being offset by tenants.

What is your timeline?
We’re hoping to welcome members into the new building by the end of 2022, but no later than Q1 of 2023. Progress updates will be shared on this website and in association emails as we go!

Will members get to rent the rooms for free?
One of the (many) things we’re excited about in the new building is a second classroom! The extra capacity will give members the opportunity to rent space at the association without taking away from BRR’s ability to host classes or meetings. We will be developing a rental agreement with discounted rates for members, knowing we also want to make these spaces available for community groups, when possible.

How did you pick the companies you’re working with?
To select the REALTOR® who would represent the association and MLS in these transactions, a request for proposals was sent to all BRR members in early 2019. A task force of members was convened to review the proposals, interview the finalists, and select the brokerage. To select the title companies used, the Board of Directors deferred to the selections of the buyer of the Bethel Ct building and the seller/developer of the new building. To select the mortgage company, the Board of Directors requested financing proposals from the two banks where the association’s funds are currently held, then selected the one with the most favorable terms. Other vendors have been recommended by the architect, the developer, our REALTOR®, or our legal counsel.

 

Have a question that wasn’t answered? Email us at info@boirealtors.com.