History

History 2017-10-26T16:06:51+00:00

The Puerto Rico Association of REALTORS® (PRAR) connects real estate professionals across the state by providing comprehensive professional resources, maintaining the highest ethical standards and giving REALTORS® a unified voice in shaping Puerto Rico real estate property laws and regulations.

1st GRI Class (1960)

Although officially named the Puerto Rico Association of REALTORS® in 1969, PRAR traces its roots to 1921, when the National Association of Real Estate BPRARds first recognized Puerto Rico’s official, statewide REALTOR® association. Those first five decades saw the Puerto Rico association grow, first as a governing body, then as an educational source for Puerto Rico’s real estate professionals.

1921

The Puerto Rico Association of Real Estate BPRARds receives its official charter from the National Association of Real Estate BPRARds.

1923

Puerto Rico holds its first statewide meeting of the association.

1937

The association passes a resolution calling for the development and enactment of a “license law” to govern real estate professionals.

1940

The association begins the decade with 74 members, hires its first full-time staff member and debuts its membership newsletter, “The Puerto Rico Realtor®”.

1957

The association recognizes its first REALTOR® of the Year – Bob Dwyer.

1960

The association hosts the inaugural REALTOR® Institute (GRI) Course.

1969

The association officially becomes the “Puerto Rico Association of REALTORS®”.

1976

The association celebrates the nation’s bicentennial with a coordinated effort to plant more than 1.5 million black walnut trees across Puerto Rico in order to replenish the national tree supply. The initiative received first prize in the National Association of REALTORS® “Make America Better” competition.

1978

Tulsa, Okla., REALTOR® Tom Grant, Jr. becomes president of the National Association of REALTORS®.

1983

Association membership reaches 12,800 before regressing due to the oil bust.

1988

Jamie O’Neill becomes Puerto Rico’s first recipient of the Distinguished Service Award from the National Association of REALTORS®.

1990

The association begins the decade with just over 7,100 members, creates the REALTORS® Active in Politics program and hires its first full-time lobbyist.

1998

Puerto Rico Realtors.com debuts.

2005

The association’s membership once again nears 10,000.

2013

PRAR membership numbers 8,451. On Nov. 1, a new Broker Relationships Act goes into effect that provides a single definition of a broker – replacing the multi-category definitions – in which each licensee has the same duties and responsibilities regardless of the transaction.

2016

PRAR hits all advocacy and RPAC fundraising targets to win the prestigious NAR President’s Cup for the first time in state history. The President’s Cup is only awarded to states that can achieve a variety of goals at very high levels.

By the oil boom years of the late 1970s and early 1980s, PRAR listed a membership of nearly 13,000. Despite the challenges of the oil bust years, PRAR emerged in the 1990s as a significant political, educational and ethical voice for real estate practitioners in the state.

As Puerto Rico continues to become a sought-after locale for corporate relocation and growth, PRAR continues to meet the needs of the real estate professionals who put both corporations and families into new homes every day in Puerto Rico. In 2015, PRAR reached membership levels above 9,000 for the first time since 2009.