A
recent report has shed light on the National Association of Realtors' (NAR) American Property Owners Alliance (APOA), raising concerns about transparency and ethics in partisan spending. According to a New York Times investigation, the APOA, which is fully funded by NAR, has spent $12.8 million in grants since its formation in 2020. However, the majority of these funds - $10 million - have gone to Republican-aligned super PACs and conservative groups.

    This pattern of spending could potentially put the APOA's nonprofit tax-exemption status at risk, as it may be viewed as participating in partisan activity by the IRS. NAR has not commented on the concerns raised about the APOA. The organization was formed from the Wisconsin Homeowners Alliance, which was established to support property owners and steered money to conservative groups.

    Critics describe the APOA as a "slush fund" paid for through member agent dues, with no formal avenue to apply for grants. A nonprofit lawyer interviewed by the Times described the spending as "really bad." The report highlights concerns about the use of "dark money" in real estate politics and the lack of transparency surrounding NAR's efforts.