BrokerageIndustry News

Large brokers gain voice in powerful real estate group

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On Sept. 21, the same day that officials at the National Association of Realtors announced the selection of a new CEO, a select group of large real estate brokers, called the Large Brokers Advisory Group, met with Realtor officials in Washington, D.C. This group of powerful industry executives did not historically receive such red-carpet treatment among the association's hierarchy. But in the last decade, large brokers who previously felt cut out of the association's power circle have sought to assert their influence. In 1997, the association formed the Large Brokers Advisory Group to give a louder voice to executives representing some of the largest real estate companies in the nation. The group would enable large brokers to offer more direct input on NAR's direction because some felt the association was not truly representing their interests. Within a few years, 75 representatives from the largest brokerage companies would be given voting rights on NAR's board of director...