realestate

NAR's New Focus: High-End Real Estate Market Dynamics

NAR CEO Sherry Chris discusses her new advisory role, operations and future changes at the national association.

S
herry Chris, a veteran executive with decades of experience at Anywhere, has taken on a new role as an independent consultant and advisor to NAR CEO Nykia Wright. In this capacity, she's been engaging in "great conversations" with top brokerage leaders, a group that was previously overlooked by the association due to their relatively small share of membership.

    However, Chris notes that the real estate landscape has shifted significantly over the past 20 years, with large companies emerging and requiring more complex support. As a result, NAR needs to better understand these businesses' needs and find ways to complement what they offer their agents.

    Chris praises Wright's leadership style, describing her as "a very decisive leader" who quickly assesses situations and makes informed decisions. Wright's background as a turnaround CEO has been instrumental in addressing the challenges facing NAR, including finding new revenue streams.

    Chris emphasizes that Wright's approach is centered on listening to stakeholders and making data-driven decisions. Her six-month goals include building relationships with broker-owners and agents, gathering feedback, and implementing necessary changes.

    While some of NAR's priorities remain confidential, Chris assures that any decisions will be made thoughtfully and not impulsively. She believes that by the end of the year, NAR will have achieved its objectives and made significant progress in addressing the industry's challenges.

    Chris also notes that the real estate industry is at a crossroads, with various stakeholders – including brokers, agents, MLSs, state associations, and local associations – needing to come together in a cohesive manner. Wright's team, including her newly appointed industry relations director Jarrod Grasso, is working to ensure this happens.

    Throughout the conversation, Chris emphasizes the importance of servant leadership and empathy in her work with NAR. She expresses her commitment to serving the needs of the association's members and the broader industry, making her feel fortunate to be able to contribute in this way during the final stage of her career.

National Association of Realtors (NAR) executives discuss high-end real estate market trends.