National Association of Realtors (NAR)

The National Association of Realtors (NAR) is a significant trade association in the United States, representing professionals in the real estate industry. Established in 1908, and originally named the National Association of Real Estate Exchanges, it has grown to become one of the largest trade associations in the country, with over 1.4 million members as of 2021. The members, known as Realtors, include residential and commercial real estate brokers, salespeople, property managers, appraisers, counselors, and others engaged in all aspects of the real estate industry.

Mission and Goals

NAR’s mission is to empower real estate professionals in achieving success through advocacy, education, and the promotion of professional ethics. The association strives to influence government and public policy at the local, state, and national levels, ensuring that its members have a favorable legislative environment. It also focuses on maintaining high standards of practice by promoting the NAR Code of Ethics among its members and providing extensive educational resources.

Membership and Structure

Membership in NAR offers numerous benefits, including access to industry publications, educational programs, certification courses, and a network of professionals. The association is structured into three tiers: the national level (NAR), state associations, and local Realtor boards or associations. Each level provides specific benefits and services tailored to its geographic and professional constituency.

Code of Ethics

One of the defining features of NAR is its Code of Ethics, first adopted in 1913. The Code sets forth obligations higher than those mandated by law for real estate professionals, emphasizing duties to clients, the public, and other realtors. It covers various aspects, such as:

Legislative Advocacy

NAR is deeply involved in legislative advocacy, working to influence policies that affect real estate professionals and property owners. The association has a political action committee (PAC) known as the Realtors Political Action Committee (RPAC), which supports candidates who champion real estate-related issues. NAR’s advocacy efforts are directed at various areas, including tax policies, housing finance reform, environmental regulations, and fair housing laws.

Research and Data

NAR provides extensive market research and economic data to its members and the public. This includes:

These resources help real estate professionals make informed decisions based on current market conditions and trends.

Education and Professional Development

Continuing education is a cornerstone of NAR’s offerings. The association provides numerous educational resources through its various institutes, societies, and councils. Some prominent programs and certifications include:

These programs ensure that real estate professionals can enhance their skills, stay current with industry developments, and better serve their clients.

Technology and Innovation

NAR is committed to embracing technology and innovation in the real estate industry. It supports initiatives that enable members to utilize the latest tools and platforms to serve their clients more effectively. The Realtors Property Resource (RPR) is an example of this commitment, providing members with comprehensive data on over 160 million properties across the U.S. Additionally, NAR’s Second Century Ventures (SCV) is an investment fund that supports the growth of innovative companies to benefit real estate professionals.

Global Outreach

While NAR is primarily focused on the United States, it has a significant international presence, with members in over 70 countries. The association seeks to foster global partnerships and promote international real estate business opportunities for its members. Through events like the International Real Estate Conference and alliances with real estate organizations worldwide, NAR provides its members with a platform to expand their international real estate business.

Conclusion

The National Association of Realtors (NAR) plays a critical role in the real estate industry, providing advocacy, education, ethical standards, and resources to its members. It supports real estate professionals through various initiatives, ensuring they can achieve success and serve their clients effectively. From legislative advocacy to promoting ethical practices, NAR’s influence extends across multiple aspects of the real estate market, both domestically and globally.

For more information, visit the National Association of Realtors website.