Executive Q&A: Downturn makes job more interesting for new head of WRA - Madison.com

It was two summers ago when the WRA Board of Directors promisedTheo, 55, the job, pending the expected retirement of longtimestaff leader Bill Malkasian at the end of 2012. Realtors Malkasian, 59, isleaving, but his new employer — the National Association ofRealtors — moved his start date up to now, which pushed Theo'spromotion up by more than a year. But Theo, who's been workingclosely with Malkasian for the past 27 years as the WRA's chieflobbyist and vice president for legal and public affairs, said hewasn't disturbed by the compressed time line. It's good for me, good for the NAR and great for Bill. Its mainduties are providing education and other services to the group'smembership, now at nearly 14,000, and representing the industry'sinterests with state politicians and the public. Scott Walker, whomthe WRA endorsed and heavily backed with campaign contributions,the trade group now has more political clout than it did duringDemocratic Gov. Tom Larson, WRA's director of regulatory and legislativeaffairs, was promoted to Theo's old job. There's a lot of Realtors I've spoken to that came into thisindustry (in the early 1980s) when interest rates were at 18percent. That's almost a badge of honor with them, that they weresuccessful despite that and they persevered. So when I speak to Realtors today, I tell them, "You're thesurvivors (of the most recent crisis). Hopefully we're at thebottom of this, but you found a way to get through it. I've neverworked with a more talented group of Realtor leaders, and they arevery analytical and very sober about the marketplace, but to aperson they find optimism in it, too. That is just one of the joys of working here for 27 years. I'mevery bit as excited as I was on Day One because they make it easy. They know the market is hard, that they're goingto work twice as hard for every sale, that they're going to workharder with lenders, but they've got this can-do type of attitude. Buthistorically, it's been about what it is now for very many years. What we're left with is more ofthe professional, committed, full-time folks, possessing the skillsneeded to survive. Our strength is also reflected in the percentage ofstate-licensed agents that are members of our association. It'sthat crisis of confidence that is hanging over the market. We havefundamentals that are great, low interest rates and lots ofinventory, but if nobody is convinced they're going to still have ajob, they aren't buying. My goal would be to get people to think about it, and if theyhave even the foggiest notion of buying a home, triggered byinterest rates being low or seeing homes for sale, that they shouldcontact a Realtor. It doesn't cost them anything to contactsomeone, and they may be surprised at what's possible. Themarketplace after this (downturn) is going to be different than itwas before, and the association has to change accordingly. The market is going to demand, and agents are going to demand,that we focus on different things. We really need to know what fundamental changes arehappening. On the legal side, we also expect to have more of a focus onfinancial and lending issues. We almost have more banking lawyersthan Real Estate lawyers now. There's opportunities tolook at the data and derive some information that would be helpfulfor the members and the public going forward. This is what members are demanding, because this is how themarket is changing and this is what they need to work in it. This material may not be published, broadcast, rewritten or redistributed. If you don't have an account, you may register for one.