The Mainstreet Organization of Realtors (MORe) will become the largest Realtor association in Illinois and fourth largest in the nation when it merges with the Realtor Association of NorthWest Chicagoland (RANWC) on Oct. 1.
Members of both organizations voted last week to sign off on a merger plan adopted by the associations’ boards in May. The merged associations will operate as MORe, serving nearly 16,000 Realtors in close to 200 municipalities in DuPage, Lake and suburban Cook County.
MORe CEO Pam Krieter will oversee the merged association, and RANWC CEO Peggy Kayser will assume the role of chief programs director.
MORe — which with 11,500 members is more than twice as big as RANWC — is based in Downers Grove, and operates satellite offices in Naperville and Tinley Park. RANWC is based in Arlington Heights and operates satellite offices in Libertyville and northwest Chicago.
All six offices will remain open after the merger, with some RANWC staff moving from Arlington Heights to Downers Grove.
Although MORe and RANWC are already members of a regional multiple listing service, Midwest Real Estate Data LLC (MRED), the merger was seen as a way to achieve cost savings and economies of scale and to keep dues in check during a time of declining membership.
At the end of 2010, membership in the Illinois Association of Realtors was down 25 percent from its 2007 peak, to 42,609. MORe, RANWC, and MORe’s biggest rival, the Chicago Association of Realtors, have seen declines of a similar magnitude.
MORe’s local dues are currently $140 a year. Last month, the Chicago Association of Realtors announced it would cut dues for its 12,500 members by $30 a year, to $234 per year.