N
AR President Kevin Sears kicked off NAR NXT 2024 with a message of unity and resilience in the face of industry challenges. He acknowledged the real estate sector's "brutal year" and emphasized that the National Association of Realtors' mission remains unchanged: to protect consumers.
Key points:
* The association will become more efficient, or "leaner," as it faces a significant settlement payment.
* Local, state, and national associations all play crucial roles in representing the industry.
* Sears extended his term as president through 2025.
Sears emphasized that NAR's goal is to make ownership simpler and safer for consumers. He highlighted the association's efforts to work with the Department of Justice on issues like Clear Cooperation, agent compensation, and data sharing. While progress has been slow, Sears expressed appreciation for members' patience.
The association will soon face a significant settlement payment related to commissions lawsuits. Final approval is pending, but if approved, NAR will need to make its first payment within 90 days. This may lead to budget scrutiny and potentially more virtual meetings.
Sears also emphasized the importance of local associations in representing the industry. He praised state associations for their expertise and involvement in national issues. Ultimately, he stressed that "we need each other" – a message that resonated with the crowd.
