Key Takeaways
- Largest US real estate trade association with 1.5M members.
- Enforces strict Code of Ethics for REALTOR® trademark.
- Provides exclusive market data and MLS access.
- Lobbies to protect property rights and industry interests.
What is National Association of Realtors (NAR)?
The National Association of Realtors (NAR) is the largest trade association representing over 1.4 million real estate professionals in the U.S., including brokers, salespeople, appraisers, and property managers. Founded in 1908, NAR sets industry standards through a strict Code of Ethics and advocates for property rights and real estate interests nationwide.
It plays a key role in governing Multiple Listing Services (MLS), providing market data, and lobbying for policies that impact the real estate macro-environment.
Key Characteristics
NAR's influence extends across professional standards, data access, and advocacy. Key features include:
- Membership: Over 1.4 million members who must adhere to NAR’s Code of Ethics, distinguishing REALTORS® from other agents.
- Professional development: Offers education, specialty designations, and tools like the Realtors Property Resource (RPR) database.
- Political advocacy: Lobbies at federal, state, and local levels to protect real estate ownership and favorable tax policies.
- MLS governance: Oversees many MLS systems, facilitating property listing sharing to improve market transparency.
- Networking opportunities: Connects members through local boards and national events to boost referrals and business growth.
How It Works
To become a member, you first obtain a state real estate license, then join a local Realtor association that automatically enrolls you in NAR. Membership requires paying dues and agreeing to uphold ethical standards.
Members use NAR’s resources daily by listing properties on MLS, accessing proprietary market research, and leveraging advocacy efforts. This includes navigating market shifts affected by factors like labor market changes and occupancy rate fluctuations.
Examples and Use Cases
NAR's frameworks and tools benefit various real estate professionals and related sectors:
- Residential brokers: Use MLS data and the RPR database to provide clients with accurate home valuation and market insights.
- Commercial real estate firms: Leverage NAR’s advocacy to influence legislation impacting property taxes and zoning.
- Investors: Access reliable data to evaluate properties and investment opportunities, such as those related to NNN properties or Prologis.
Important Considerations
While NAR membership offers significant advantages, maintaining compliance with its Code of Ethics and continuing education requirements is essential. Staying informed on market indicators like the occupancy rate is critical in advising clients effectively.
Engaging with NAR’s resources and advocacy can help you navigate the evolving real estate landscape, but it’s important to evaluate how membership benefits align with your professional goals.
Final Words
The National Association of Realtors sets industry standards that can impact your real estate experience, from ethical practices to market data access. Review how a REALTOR® membership might influence your transaction and consider consulting a local agent affiliated with NAR for trusted guidance.
Frequently Asked Questions
The National Association of Realtors (NAR) is the largest trade association in the U.S. for real estate professionals, founded in 1908. It represents over 1.4 million members, including brokers, salespeople, property managers, appraisers, and counselors.
A REALTOR® is a real estate professional who is a member of NAR and abides by its strict Code of Ethics. This designation distinguishes members from non-member agents, signaling higher ethical standards and professionalism.
NAR provides members with access to exclusive resources like the Realtors Property Resource (RPR) database, networking opportunities, professional development courses, and industry research to help them succeed in their careers.
NAR actively lobbies at local, state, and federal levels to protect property rights and promote policies favorable to real estate professionals and property owners, including tax policies and housing regulations.
NAR operates through a network of approximately 1,200 to 1,600 local associations and 54 state or territory associations, all connected to the national body headquartered in Chicago, enabling broad representation and support.
Adopted in 1913, NAR’s Code of Ethics sets high professional and ethical standards for its members, ensuring trust and integrity in real estate transactions and distinguishing REALTORS® from other agents.
NAR governs hundreds of local MLS systems, giving members access to comprehensive property listings and detailed information, which helps them serve clients more effectively and gain a competitive edge.
NAR publishes housing statistics, market reports like the existing home sales index, and offers tools such as the Realtors Property Resource (RPR), which covers data on over 147 million U.S. properties to inform members and consumers.
