MLS & Associations

NAR may commit $20M to implement stricter ‘core standards’ for associations

Associations could use funds to meet requirements or do mergers

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WASHINGTON -- The finance committee of the National Association of Realtors (NAR) has advised NAR to allocate up to $20 million to implement core standards for Realtor associations that could fuel consolidation of small associations across the country. The commitment would allow NAR to offer financial assistance to help small associations meet the proposed standards, merge with larger associations or transition into chapters or councils of larger associations. At a session at NAR’s midyear conference, John Pierpoint, chief financial officer of NAR, said the proposed assistance plan would allow NAR to offer: Between $2,500 and $5,000 to associations that have not completed a strategic plan in the last five years or have fewer than 500 members, in order to help such associations meet the proposed standards. Between $15,000 and $25,000 to facilitate mergers between associations. Up to $100,000 to state associations to help them assist local associations meet the standards....