2025 NAR Annual Report

Letter From Kevin Sears
Immediate Past President

Fellow REALTORS®,

When I stepped into the role as President of the National Association of REALTORS®, I pledged to you that my tenure would focus on getting NAR back to basics. While we have a long way to go in realizing our full vision for NAR, I hope you can appreciate the work we have done to build the foundation for NAR to better serve our members and the industry.

We have passed consecutive balanced budgets without raising dues, made our initial payment in compliance with the Sitzer-Burnett settlement terms, and identified millions of dollars in savings through a strategic reexamination of our consumer ad campaign strategy and event planning processes. These are just the first steps in setting us up for long-term financial wellness.

Letter From Nykia Wright
NAR CEO

NAR Members and Partners,

Over the past year, the National Association of REALTORS® initiated the most significant transformation in the history of our industry. NAR—with its legacy of more than a century—stands at the threshold of a new era, one defined by transparency, innovation, and unwavering service to REALTORS® and the broader real estate industry.

Download Annual Reportpdf

Open the Flipbook

2025 Year in Review by the Numbers

Advocacy

Turning Members Voices Into Policy Wins

100

members in the Congressional Real Estate Caucus, a bipartisan group working to tackle housing supply and affordability.

1,000+

grants, programs, and initiatives funded to advance pro-housing policies and elect housing champions at the state and local level.

11

harmful tax proposals defeated over the past decade, preventing $2.3 trillion in new taxes on real estate.

5,000+

meetings on Capitol Hill in 2025, powered by original consumer polling that demonstrated strong public support for REALTOR® priorities.

Marketing & Communications

Your First Source for Real Estate News

400+

media interviews highlighting NAR as the “first voice” for the real estate industry.

87%

of consumers who saw the "Right by You" campaign are more likely to use a REALTOR®, a 26% gain in the last decade.

70%

of consumers are aware of the REALTOR® brand—up 30% since 2015—keeping members ahead of non-member agents.

Finance

Strong Stewardship & Financial Discipline

2nd

consecutive balanced budget, maintaining financial stability.

~$50 million

(14%) reduction in budgeted expenses year-over-year, keeping NAR ahead of budget.

$3+ million

in event cost savings delivered without compromising member experience.

14%

decrease in staff headcount, aligned with disciplined resource management.

Research

Insight-driven Decisions

170

public research releases and analyses.

80

economic blog posts shared with members and the public.

430

presentations at state and local associations, brokerages, and industry events, delivering timely data and insights nationwide.

3.5 million

survey invitations sent to NAR members, with the typical member receiving 3 opportunities to provide feedback.

Education

Building Skills for What's Next

17,000+

REALTORS® enrolled in designation and certification programs to deepen their expertise.

2%

increase in credential holders vs. 2024, signaling continued commitment to professional excellence.

Tech & Innovation

Bridging the Gap Between Technology & Real Estate

50+

global companies backed by Second Century Ventures and REACH to provide members with cutting-edge tools for real estate operations, marketing, financial wellness, and more.

$1.35 million

in free tools and education delivered through Member Value Plus (MVP).

$1+ million

in no-cost and discounted products offered through Right Tools, Right Now (RTRN).

25

new AI-powered, SEO-optimized .realtor™ and .realestate website templates launched.

RPR®

REALTORS Property Resource®

540,000

unique users in 2025, reaching 37% of all REALTORS®.

18,379,000

engaged sessions in 2025, a 3% increase vs. 2024.

10,400+

brokerages in the RPR Broker Tool Set network, representing 750,000+ agents.

Legal

Protecting the REALTOR® Brand

100+

association and MLS attorneys gathered at NAR’s Legal Counsel Summit in Chicago to address cybersecurity, blockchain, professional standards, and MLS policies.

8

“Window to the Law” episodes delivered timely updates on emerging legal risks.

NAR Leaders on the Road, Representing Members

Volunteer Leadership Team & Executive Leaders

150+

state and local association events.

50+

industry events.

21.6%

increase in Broker Power Hour webinar attendance year-over-year.

400+

organizations engaged, reaching 44,000+ members and stakeholders.

Leadership Development

Growing the Next Generation of Leaders

225+

REALTORS® joined the invite-only, two-day YPN Advance workshop—another record year.

138

YPN members served on the 2025 NAR Board of Directors.

To see all notable “By the Numbers” statistics, download the annual reportpdf.

Strategic Plan Overview

NAR stands at a pivotal moment—one that demands strategic clarity and a renewed focus on member value. The work began by studying the mistakes of the past, diligently learning from them, and building a plan to move forward. Grounded in industry insights and shaped by more than 150,000 voices across each level of the association and the industry, our new Strategic Plan will modernize the association and transform the member experience.

Read NAR's 2026-2028 Strategic Plan

2025 Annual Report

1 Help REALTORS® Thrive In the Their Day-to-Day Business

Enhance the tools, training, and support that members rely on, enabling REALTORS® to grow their businesses, improve their well-being, and serve clients with confidence.

1.1 Equip REALTORS® With Actionable Market Intelligence & Research Insights.

To stay competitive in a fast-changing real estate market, NAR members need timely research and easy-to-use analytical tools. Data-driven business insights enable evidence-based, strategic decision-making, while market intelligence empowers members and partners in their everyday work. 

1.2 Provide REALTORS® With Foundational & Continuous Education Opportunities to Expand Expertise

REALTORS® face a fragmented education market and often struggle to find trusted, high-quality learning resources. NAR has a major opportunity to expand its reach by delivering relevant, centralized, high-value education that supports members' career growth.

1.3 Adopt Advanced Technology & Tooling

REALTORS® are navigating a broad and overwhelming landscape of business tools, many of which are not tailored to their needs. NAR members seek a trusted curator to accelerate innovation, identify and vet the best-in-class technology across this ecosystem, and to facilitate members’ access to essential tools that support their day-to-day business.

2 Drive Collaborative Solutions & Impact

Co-create programs, share resources, and align messaging to enhance REALTOR® value and support a thriving real estate ecosystem.

2.1 Enhance or Increase Partner Access to Information & Resources

Partners need timely, relevant, and segmented access to data, messaging, and tools to effectively support members and amplify NAR’s strategic priorities. There is also an opportunity for NAR to create seamless knowledge and resource sharing workflows with their partners, to leverage synergies that culminate in an elevated experience for members.

2.2 Co-create Products & Services That Address REALTOR® & Market Needs

REALTORS® face evolving business challenges and expect relevant, high-impact solutions. Co-creating offerings with partners ensures alignment with real-world needs across different segments of members.

3 Protect & Advance the Legal Interests of REALTORS®

Proactively shape legal protections that represent the priorities of REALTORS® and promote a resilient industry.

3.1 Analyze, Assess, and Address Legal Risk

REALTORS®, associations, and MLSs rely on NAR to help them mitigate and/or avoid legal risks and litigation threats by providing legal resources and education.

3.2 Proactively Safeguard and Advance the REALTOR® Trademark and Brand

REALTORS® rely on NAR as the national organization that safeguards and advances the REALTOR® trademark and brand. NAR’s robust intellectual property, legal and communications efforts ensure the REALTOR® trademark is perpetually protected.

3.3 Work With Industry Partners to Garner Favorable Legal Outcomes

NAR must decrease its legal risk with a primary focus on reducing litigation exposure. It must also never lose sight of its holistic legal risk profile and ensure that it weighs legal risk in every decision.

4 Advocate for Property Ownership for All

Advance policies at all levels of government that support a prosperous real estate economy.

4.1 Champion Policies That Promote & Expand Access for the Next Generation of Real Estate Owners

NAR leads on behalf of real estate professionals and consumers by fighting for policies that unlock opportunity, remove barriers, and make property ownership achievable for more Americans.

4.2 Engage Consumers in Both Residential & Commercial Real Estate Advocacy

Consumers need to be engaged in real estate advocacy as a force to advocate for policies that protect private property rights and expand access to property ownership. Empowering them with knowledge strengthens the collective voice of the real estate community.

5 Build a Proactive Organization

Evolve internal systems and structures to deliver faster, smarter support that meets the needs of today and anticipates the needs of tomorrow.

5.1 Streamline Organizational Governance & Enhance Effectiveness

NAR is at a pivotal moment where internal clarity and operational discipline are essential to its long-term credibility and impact. Streamlining the organization and the governance structure will make NAR more agile, transparent and nimble. This effort will not only improve decision-making and accountability but also rebuild trust by showing that NAR is willing to evolve, listen and lead with purpose.

5.2 Build Processes That Facilitate Timely, Transparent Information Flow

NAR’s current business structure is not optimized for the pace of industry change. Internal silos and fragmented governance have contributed to inefficiencies within the organization. Members have increasingly cited a need for NAR to adapt to their feedback, increase transparency in their proceedings and better reflect diverse market realities.

5.3 Overhaul Budgeting & Resourcing Strategies to Promote Financial Transparency and Responsible Stewardship

A strong budgeting and resourcing strategy will allow NAR to remain financially flexible in a rapidly evolving real estate landscape. This approach will ensure resources are aligned with the NAR Strategic Plan and account for quick reallocations to support emerging priorities. This is especially relevant as NAR navigates shifting member expectations, policy demands, and market dynamics that require timely, well-supported responses.

6 Rebuild Partnership Foundations

Foster deep partnerships grounded in transparency and shared goals to deliver lasting value to REALTORS® and stakeholders.

6.1 Partner With State & Local Associations to Build a Common Understanding Around Roles and Responsibilities & Co-deliver on the Unified Value Proposition

The relationship between the local, state, and national association lacks consistent interpretation and execution across associations, leading to confusion and inefficiencies. A shared understanding of roles and responsibilities is essential to deliver the unified member value proposition.

6.2 Elevate Brokerage Engagement for a Connected Real Estate Ecosystem

Brokerages across the industry have distinct needs and expectations from NAR. NAR must establish opportunities that foster stronger, tailored, and consistent relationships with brokerages, enabling more effective message amplification, deeper collaboration, and improved member experience across the ecosystem.

6.3 Modernize Partner Collaboration to Drive Consistent Results

NAR’s engagement with critical partners (e.g., brokerages, MLSs, ISCs) is inconsistent and lacks tailored strategies. Strengthening these relationships is essential to amplify messaging, co-create value, and support member retention.

6.4 Optimize Support Systems & Communication Pathways

Fragmented support systems and communication channels hinder partner coordination and member experience. Streamlining these pathways is essential for consistent messaging, efficient collaboration, and scalable support.

7 Recommit to Professionalism

Strengthen ethical standards, cultivate technical knowledge, and elevate current and emerging REALTOR® leaders.

7.1 Strengthen the Code of Ethics

REALTORS® rely on NAR to uphold and advance the industry’s standards for professionalism and ethics. Amid growing concerns about declining professional conduct, members are actively seeking stronger support and leadership from NAR.

7.2 Advance REALTORS®’ Technical Skills & Professional Expertise

To stay competitive and grow their businesses, REALTORS® must continuously sharpen their professional and technical knowledge. They look to NAR for the education and upskilling that enables this growth.

7.3 Curate Premier Events That Foster Industry-wide Connection

NAR must elevate its events to set the industry standard, creating a premier convergence experience that positions the association as the essential connector and innovation leader—while achieving self-funding sustainability as competing ecosystems emerge. Event programming, networking, and outcomes must align with opportunity costs, and amplify NAR’s core value proposition.

7.4 Attract and Cultivate the Next Generation of REALTORS® and Leaders

NAR’s strength lies in its members. To ensure the organization’s long-term success, it is essential to invest in and nurture the next generation of REALTORS® and industry leaders.

8 Cultivate Trust in the REALTOR® Brand

NAR must position the REALTOR® brand as a trusted symbol of expertise, integrity, and reliable service for consumers.

8.1 Be the “First Voice” in Industry Development & Regulatory Updates

Consumers and members rely on NAR to be the trusted authority on industry trends and regulatory developments. They expected clear and proactive communication, especially on critical issues, to help them navigate change with confidence. This is an opportunity for NAR to lead from the front and reclaim its leadership role in the industry.

8.2 Drive Public Relations Efforts With a Distinct & Compelling Voice Tailored to Segmented Audiences

Different audiences engage with NAR for different reasons. A tailored brand strategy that delivers relevant content to each consumer group can improve how NAR is perceived and deepen understanding of its work. This approach helps NAR more effectively represent itself to consumers and the Real Estate industry.

8.3 Build a Core Brand Identity That Differentiates REALTORS® in the Market

Members and consumers have voiced concerns that the REALTOR® brand lacks strong market recognition and differentiation. Investing in building a clear, compelling core brand will communicate the unique value and competitive edge being a REALTOR® provides.

For more than 25 years, NAR’s national consumer advertising campaign has benefited members by underscoring the value and expertise of REALTORS® and resonating with consumer audiences amid changing market conditions and culture. That’s made a real difference for the REALTOR® brand.

Special Feature on Technology

NAR Advancing the Way in Industry Technology

NAR is actively driving innovation in real estate, ensuring members have the latest tools to stay competitive and deliver exceptional value. Today, NAR’s technology strategy centers on empowering REALTORS® with advanced platforms and resources.

Letter From Kevin Brown

2026 NAR President

Dear Members,

Thank you for reviewing our 2025 Annual Report. On behalf of the NAR Leadership Team, I want to thank you for your continued dedication and support. And I’d like to share how we’re positioning NAR for success in 2026. I stress the “we” because I’m going to need each of you to help get NAR back to business in 2026.

People often ask me why I’m so passionate about NAR’s work. My why is simple: This work is important. It opens the door to the American Dream, creates intergenerational wealth, and drives the economy forward. And in 2026, we’re going to work to ensure our REALTOR® members can continue unlocking the American Dream for generations to come.

2026 Leadership Team

2026 NAR Leadership Team

The Leadership Team guides NAR's strategic direction and policymaking in such areas as legislation, professional standards, and business services.

2026 Key Dates, Events & Milestones

Key NAR Events

Key NAR Milestones

25th Anniversary of the
REALTORS® Relief Foundation

25th Anniversary of NAR's
Community Development Advocacy Program
(formerly Community Outreach)

2025 NAR Annual Report

Letter From Kevin SearsImmediate Past President

Letter From Nykia WrightNAR CEO

2025 Year in Review by the Numbers

Advocacy

100

1,000+

11

5,000+

Marketing & Communications

400+

87%

70%

Finance

2nd

~$50 million

$3+ million

14%

Research

170

80

430

3.5 million

Education

17,000+

2%

Tech & Innovation

50+

$1.35 million

$1+ million

25

RPR®

540,000

18,379,000

10,400+

Legal

100+

8

NAR Leaders on the Road, Representing Members

Volunteer Leadership Team & Executive Leaders

150+

50+

21.6%

400+

Leadership Development

225+

138

Strategic Plan Overview

2025 Annual Report

1

Help REALTORS® Thrive In the Their Day-to-Day Business

1.1 Equip REALTORS® With Actionable Market Intelligence & Research Insights.

1.2 Provide REALTORS® With Foundational & Continuous Education Opportunities to Expand Expertise

1.3 Adopt Advanced Technology & Tooling

2

Drive Collaborative Solutions & Impact

2.1 Enhance or Increase Partner Access to Information & Resources

2.2 Co-create Products & Services That Address REALTOR® & Market Needs

3

Protect & Advance the Legal Interests of REALTORS®

3.1 Analyze, Assess, and Address Legal Risk

3.2 Proactively Safeguard and Advance the REALTOR® Trademark and Brand

3.3 Work With Industry Partners to Garner Favorable Legal Outcomes

4

Advocate for Property Ownership for All

4.1 Champion Policies That Promote & Expand Access for the Next Generation of Real Estate Owners

4.2 Engage Consumers in Both Residential & Commercial Real Estate Advocacy

5

Build a Proactive Organization

5.1 Streamline Organizational Governance & Enhance Effectiveness

5.2 Build Processes That Facilitate Timely, Transparent Information Flow

5.3 Overhaul Budgeting & Resourcing Strategies to Promote Financial Transparency and Responsible Stewardship

6

Rebuild Partnership Foundations

6.1 Partner With State & Local Associations to Build a Common Understanding Around Roles and Responsibilities & Co-deliver on the Unified Value Proposition

6.2 Elevate Brokerage Engagement for a Connected Real Estate Ecosystem

6.3 Modernize Partner Collaboration to Drive Consistent Results

6.4 Optimize Support Systems & Communication Pathways

7

Recommit to Professionalism

Letter From Kevin Sears
Immediate Past President

Letter From Nykia Wright
NAR CEO