As REALTORS® navigate housing affordability challenges, tight inventory and a rapidly changing industry, the National Association of REALTORS® is sharpening its focus on the resources, advocacy and tools members need to succeed.
At its Nov. 9 meeting during NAR NXT™ in New Orleans, NAR's Board of Directors approved a 2027 budget and installed new leadership, setting the stage for continued work on housing advocacy, MLS collaboration, broker engagement and professional development.
The board approved an operating budget projecting approximately $280 million in revenue and $247 million in expenses. Under the new approach, NAR departments were required to evaluate expenditures from the ground up rather than simply carry forward previous spending levels, prioritizing initiatives and identifying measures of success. NAR Treasurer Craig Sanford described the approach as a significant step in the association's financial modernization efforts. The board approved the budget by an overwhelming majority.
Directors also approved the following financial recommendations:
- Consumer advertising campaign: Approximately $12 million in revenue and $13.7 million in program expenses for 2027.
- Capital expenditures: $2.42 million for technology and $3.06 million for building needs.
Advancing NAR's Strategic Priorities
In his final Board of Directors meeting as NAR president, Kevin Brown highlighted progress on initiatives aimed at protecting members' business interests, expanding housing opportunities and helping members adapt to a changing industry.
He also highlighted progress on MLS collaboration, including outreach to nearly 500 MLS executives and the formation of a work group to address emerging challenges and modernize policies. That work helped inform four policy recommendations approved by NAR's Multiple Listing Issues and Policies Committee during NAR NXT™, aimed at strengthening copyright protections for listing content, giving MLSs greater flexibility in setting local data feed requirements and clarifying permitted uses of MLS data. For REALTOR® members, the changes address important business concerns, including protecting the time and money invested in marketing properties, preserving access to their own listing information and establishing clearer rules for how listing data can be used and shared.
Brown also pointed to NAR's advocacy surrounding the 21st Century ROAD to Housing Act, a housing package aimed at increasing supply, improving affordability and expanding homeownership opportunities. NAR's attention is now turning toward implementation, including working with federal agencies and supporting state and local associations.
Other initiatives highlighted during the meeting included:
- Professional development: Six modernized Center for REALTOR® Development courses are scheduled to launch Dec. 1, alongside efforts to improve instructor training and the digital learning experience.
- Broker engagement: NAR has connected with more than 15,000 brokers through state and local summits and is on track to participate in more than 85 broker summits by the end of the year.
- Housing inventory: NAR continues advocating for the bipartisan More Homes on the Market Act, which would increase the capital gains tax exclusion for homeowners selling their primary residences.
New Leadership Takes Office
Lauderdale, Fla. A longtime broker-owner who has navigated market downturns and rebuilt her business, Hansen has made delivering tangible value to members a central priority of her presidency.
“What can we do to bring value to our REALTOR® members that will be substantive; that'll be strong for their businesses, [and] to maybe even alleviate some of the stresses they have to go through?” Hansen said in a recent REALTOR® News profile.
Hansen's priorities include advancing NAR's three-year strategic plan, improving awareness of member tools and resources, and restoring pride in the REALTOR® brand.
The association's 13 regional vice presidents were also installed.
Recognizing Service and Advocacy
The Board of Directors celebrated several leaders whose service has shaped the association and the real estate industry:
Robert J. Bailey of Aptos, Calif., and Judy Moore of Lexington, Mass., accepted NAR's 2026 Distinguished Service Awards. The association also presented President's Awards to MLS leader Tia Hunnicutt of San Francisco, and strategic planning leader Adam Watkins of Hattiesburg, Miss.
The spirit of service carried through a tribute marking the 25th anniversary of the REALTORS® Relief Foundation, established in the aftermath of the Sept. 11, 2001, terrorist attacks. REALTOR® member Dave Legaz, a retired NYPD sergeant who responded to Ground Zero, shared a moving personal account of the days following the attacks, recalling how a stranger left him a pillow, blanket and damp cloth as he slept in St. Paul's Chapel. He reflected on how that simple act of kindness has stayed with him for 25 years. Since its founding, the foundation has provided more than $54 million in housing assistance to more than 55,000 families affected by disasters, continuing the spirit of compassion that inspired its creation.
