This is a challenging moment for the real estate industry and for NAR. External commentary has seized on those challenges and purported to tell our story for us.
The real story is this: NAR recognizes the challenges of the moment, and we are focused on moving our association and our industry forward.
On the legal front, we recognize that the challenges facing our industry are complex and multifaceted. We’re mindful of the profound obligation we have to guide our industry and organization going forward, especially in ongoing antitrust litigation.
The stakes are enormously high. Potential outcomes of this case could have a significant impact not just on the real estate industry but on the American people and the economy at large. NAR has the unique responsibility to consider these issues holistically, taking into account the complexities involved in how consumers buy and sell homes. From the beginning, we have been willing to work with industry, government, and other stakeholders to improve our policies and ensure they are in the best interests of our members and the consumers they serve. You can learn more about NAR’s position on these important issues at www.competition.realtor.
The tremendous changes we’ve undergone in recent months have sharpened our commitment to advocacy, culture, innovation, and education. From advocating in Congress to implementing new culture initiatives and instituting new leadership, we are committed to delivering value across our industry and to everyone it touches, including members, consumers, and participants in real estate marketplaces nationwide, as we have done for over 100 years. Our culture of constant learning and innovation – and the spirit of our ongoing transformation – match the dynamic, ever-changing nature of real estate itself.
Personally, I am bringing my strategy and turnaround experience to bear in driving this transformation alongside our refreshed Leadership Team and other leaders across the organization. Sharon Millett and Vince Malta, both of whom have decades of experience working in real estate and serving NAR in leadership, governance, and advocacy capacities, were recently appointed to fill two vacancies on the 2024 Leadership Team. Across our organization, we have strong, valued leaders driving progress. Every day, our staff is leveraging decades of institutional knowledge about NAR to advance the organization’s important work.
That work takes many forms. In Washington, we’re advocating for policies that protect real estate professionals and the consumers they serve. During the COVID-19 pandemic, for example, we worked to protect real estate as an essential service, ensuring independent contractors were eligible for stimulus funds, rescue loans, and unemployment benefits. We’re also supporting consumer interests by continually defending the mortgage interest deduction, access to credit, flood insurance, and the 30-year mortgage. And in state and local communities, NAR collaborates with industry leaders to address the issues that hit closest to home. From addressing zoning issues in Wisconsin to opposing harmful tax increases in Washington, NAR is on the front lines supporting these leaders’ efforts to enhance REALTORS’® ability to serve their clients.
We’ve launched key initiatives to strengthen our organization and address cultural challenges. Our Culture Transformation Commission, whose commissioners represent members, state and local association staff, and NAR staff, having gathered data across the organization, is now working toward producing transformative recommendations designed to shape its progress into the future. Our Policies and Procedures Task Force is tasked with developing a set of recommendations on ways to improve NAR policies, procedures, training, and systems to encourage reporting of alleged misconduct and promote an environment of transparency and accountability. And most recently, we brought on Karyn Detje to lead our human resources transformation on an interim basis, laying the groundwork for the appointment of a Chief People Officer later in 2024.
The real story, then, is progress. NAR will continue to evolve to better serve our members, our staff, and consumers across America – and to lead our industry into the future.