A recent post here at The Source talked about how to establish a new Commercial Overlay Board connected with your local REALTOR association. By way of quick review: establishing a COB is the way a local REALTOR® association expresses a specialty in commercial real estate, creating an organization and resources geared away from residential practice and toward the very broad and complex world of commercial practice.
Because commercial real estate practice needs its own support system, NAR Commercial Division encourages and supports existing associations to create of Commercial Overlay Boards devoted to such support. In 1992, The Board of Directors of NAR authorized the establishment of Commercial Overlay Boards of REALTORS®. A Commercial Overlay Board co-exists and shares (overlays) geographic jurisdiction with one or more REALTOR® associations, in order to better serve members in a commercial market area. At the same time, the territory currently assigned to existing associations remains intact as well as their right and obligation to provide services to their members. COB jurisdictions may be local, multi-market, state-wide and inter-state.