MLS & AssociationsTechnology

NAR budget gets boost from rising agent and broker membership

Funding for Realtors Property Resource (RPR) to total $215M by 2019
  • NAR membership stood at 1.17 million at the end of April and is expected to hit the 1.2 million mark sometime this year.
  • According to the budget approved Saturday, NAR dues in 2017 will remain the same at $120 per member, with $40 of that going to NAR's political advocacy program, the Realtor Party.
  • The board also voted to continue a $35 per year assessment on top of dues for 2017, 2018 and 2019 for its Consumer Advertising Campaign. The trade group has chosen Phil Dunphy from the TV show Modern Family as the face of that campaign.
  • After the Realtor Party and the Consumer Advertising Campaign, NAR's wholly-owned subsidiary, real estate data and technology company Realtors Property Resource, is by far the trade group's biggest program expense -- and it's about to get costlier.

WASHINGTON -- The National Association of Realtors got a budget boost from increased membership this year, benefiting from brokers and agents trying to get a piece of an improving housing market. NAR membership stood at 1.17 million at the end of April and is expected to hit the 1.2 million mark sometime this year. Because NAR's 2016 operating budget originally assumed a membership of 1 million, that 120,000 increase in members is largely responsible for turning what was projected to be a deficit of $4.7 million this year into a surplus of $266,800 that will go into operating reserves. In the next three years, NAR will increase its spending to match or exceed its increase in dues revenue, according to a budget proposal approved by the trade group's board of directors Saturday. Dues and membership According to the budget approved Saturday, NAR dues in 2017 will remain the same at $120 per member, with $40 of that going to NAR's political advocacy program, the Realtor Party. T...