National Association of Realtors

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National Association of Realtors

The National Association of Realtors (NAR) is made up of residential and commercial realtors who are brokers, salespeople, property managers, appraisers, and counselors, and others working in the real estate industry. NAR began as the National Association of Real Estate Exchanges in 1908 with a membership of 120. In 2003 its membership numbered over 840,000, making it the world's largest professional association. Members belong to one or more of 1,700 local real estate associations and boards and 54 state and territory associations. NAR headquarters are in Washington, D.C.

NAR provides a national facility for professional development, research, and exchange of information among its members, the public, and government. More importantly, it plays an influential role in shaping public policies at the local, state, and national level that affect real property. Through its legislative and Lobbying efforts, NAR seeks to protect the real estate industry from what it considers burdensome legislative and regulatory changes and to advocate for legislative and regulatory changes that enhance the conduct of real estate business. At the national level, NAR analyzes federal issues and lobbies Congress and regulatory agencies.

The 1998 NAR legislative agenda included rewriting federal law that governs the disclosure of closing costs at the time a real estate purchase is completed. In addition, NAR supports federal legislation that would give persons more rights to contest a government "taking" their property through the power of Eminent Domain.

NAR also participates in the political process through its Realtor Political Action Committee (RPAC). This committee, currently one of the largest trade association PACs, contributes campaign funds to federal political candidates and encourages members to volunteer for candidates. The committee also educates voters on issues that affect home ownership and real estate.

Apart from political involvement, NAR seeks to make its viewpoint known through legal advocacy. The NAR Legal Action Committee provides financial support to legal cases that seek establish a favorable precedent for real estate brokerage or that seek to preserve the rights to own, use, and transfer real property. The NAR also participates in lawsuits involving real estate by filing Amicus Curiae (friend of the court) briefs in cases that will set legal precedent.

The NAR has established a code of ethics to enhance the professionalism of its members. In addition, it has created NAR sections, professional institutes, societies, and counsels that allow members to communicate with others in their particular real estate specialty. These specialty groups include Counselors of Real Estate, the Commercial Investment Real Estate Institute, the Institute of Real Estate Management, the Real Estate Brokerage Managers Council, the Residential Sales Council, the Real Estate Buyers Agent Council, and the Appraisal Section. Education and certification in these specializations enable members to receive professional designations, identifying them as highly qualified specialists to business associates and the public.

In 1998 NAR launched a national consumer education initiative called the "Public Awareness Campaign" to inform the public about the significant role played by realtors in real estate transactions. Also, in 1998 NAR created the National Realtors Database System (NRDS), an Internet database that gave members the opportunity to update their own records online. In 1997 the NAR established REALTOR.com, its official Internet site. In 2003 REALTOR.com featured more than 1.5 million property listings that were viewed by millions of consumers.

Further readings

National Association of Realtors. Available online at <www.realtor.org> (accessed July 28, 2003).

Cross-references

Real Estate; Real Property.

References in periodicals archive ?
Check that the agent belongs to a professional body such as the National Association of Estate Agents or the Royal Institution of Chartered Surveyors, and that he is a member of the Ombudsman for Estate Agents scheme.
The National Association of Estate Agents (NAEA) says first impressions count and ensuring front paths and driveways are clean and clear of leaves and dirt can often improve the attractiveness and desirability of the property.
The main organisation specifically for estate agents is the National Association of Estate Agents (NAEA).
The National Association of Estate Agents (NAEA) said 17% of sales in May were made to those buying their first home, compared with 24% during the previous month.
Meanwhile, the National Association of Estate Agents has urged homebuyers to make safety a priority when moving into a new home.
The average number of potential buyers registering with estate agents jumped to 252 during the month, up from 227 in December, although the figure was 13 per cent lower than January last year, according to the National Association of Estate Agents.
The National Association of Estate Agents, which is running the scheme, said more needed to be done to protect consumers from unprofessional agents.
IN THE SPOTLIGHT Who: Peter Bolton King Why: The Warwick-based chief executive of the National Association of Estate Agents has issued a warning over the Financial Services Authority's plans for more intrusive regulation of the sector.
The National Association of Estate Agents said the figures showed that the recovery in the housing market, seen earlier this year, was strong enough to survive the seasonal drop in activity during July and August as potential buyers go on holiday.
The Scheme advises landlords and tenants to be certain that their lettings agents are members of either the Association of Residential Letting Agents (ARLA), The National Approved Letting Scheme (NALS), the National Association of Estate Agents (NAEA), or the Royal Institution of Chartered Surveyors (RICS); or that deposits are protected under one of the other government authorised deposit protection schemes: Tenancy Deposit Solutions (trading as mydeposits.
Rosalind Renshaw, of the National Association of Estate Agents, called the figures "relatively conservative".
MARBELLA, Spain, August 21 /PRNewswire/ -- A leading real estate company has withdrawn its membership of the UK's National Association of Estate Agents (NAEA), due to concerns that the body is be being used as a platform for libellous comments against it.
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