NAR Approves HGAR Merger With Manhattan Association of Realtors
John Jordan | November 3, 2016
WHITE PLAINS—The Hudson Gateway Association of Realtors reports that the National Association of Realtors has approved its proposed merger with the Manhattan Association of Realtors (MANAR).
Richard Haggerty, CEO of the Hudson Gateway Association of Realtors, told Real Estate In-Depth that NAR approved the merger deal on Wednesday, Nov. 2.
The merger, which becomes effective on Jan. 1, 2017, will create the Manhattan Chapter of the Hudson Gateway Association of Realtors. The association will continue to operate as the Hudson Gateway Association of Realtors. The HGAR membership approved the merger with MANAR at its Annual Meeting, (see original Real Estate In-Depth article), and Members Day on Oct. 17. The MANAR Board of Directors approved the merger with HGAR at a meeting on Oct. 31.
“We are so pleased and excited to have a presence in New York City, the largest city in the nation,” Haggerty said in a statement. “This will represent an extraordinary referral opportunity for both Manhattan and Hudson Valley Realtors and will make our organization even stronger when it comes to legislative advocacy for both Realtors and home owners.”
HGAR’s Haggerty said merger discussions began earlier this year when chief officials of MANAR approached HGAR. After discussions with MANAR and with HGAR’s Board of Directors, negotiations were initiated that led to the merger agreement that will create the Manhattan chapter.
MANAR, which was formed in 2001, at one time had more than 600 members. However, the association’s membership is now 110 members. Haggerty related that the major New York City-based real estate organization remains the Real Estate Board of New York, which severed its ties with the National Association of Realtors in the early 1990s. Haggerty told Real Estate In-Depth that HGAR would look to grow its Manhattan Chapter membership in the future.
The merger agreement approved by HGAR and MANAR also calls for the eventual merger of the Hudson Gateway Multiple Listing Service with the MANAR MLS. Those discussions are expected to take place in 2017.
MANAR President Tony D’Anzica will serve on the 2017 HGAR Board of Directors as the representative of the Manhattan Chapter. The merger agreement also calls for HGAR to support a future “Global Forum” event currently sponsored by MANAR and held in Manhattan. HGAR is also charged with utilizing “best efforts to foster other networking events to represent the interests of Realtor members located in Manhattan.