SAN DIEGO — The board of directors for the National Association of Realtors revoked the charters of 16 Realtor associations today for noncompliance with a NAR mandate known as the “core standards.” The core standards, approved by the board in May 2014, are intended to “raise the bar” for Realtor associations by ensuring that even the smallest association is capable of enforcing the Realtor Code of Ethics, playing a political advocacy role, conducting outreach to consumers, maintaining fiscal responsibility, and operating a website promoting member programs, products and services.
- The board of directors for the National Association of Realtors revoked the charters of 16 Realtor associations.
- The charters were revoked for noncompliance with a NAR mandate known as the "core standards." Any association that failed to comply with the standards by a June 30, 2015 deadline would lose its Realtor charter.
- There have been 84 mergers involving 192 associations since May 2014, and 27 local associations have voluntarily surrendered their charters and dissolved.