T
he National Association of REALTORS (NAR) has released its 2024 Year in Review, a 33-page report highlighting the organization's progress and milestones from the past year. The report marks the beginning of a new mission-driven era for NAR, with a focus on building trust, collaboration, and member success.

    Last year was marked by significant challenges, including limited inventory, higher interest rates, and shifting living and work patterns. Despite these obstacles, NAR members persevered, navigating the complex market and working to implement practice changes outlined in the Sitzer-Burnett lawsuit settlement.

    NAR President Kevin Sears acknowledged the industry's resilience in a letter opening the report, expressing gratitude to members for their hard work in pushing through challenges and setting the stage for the industry's future. NAR CEO Nykia Wright emphasized the need for the association to evolve and meet the needs of its members, both today and tomorrow.

    To achieve this goal, Wright has engaged two new partners: Sherry Chris, a former CEO of Better Homes & Gardens Real Estate and ERA Real Estate, who will serve as a special advisor to strengthen relationships with brokerage leaders; and Jarrod Grasso, senior vice president of industry relations, who will enhance the association's relationship with state and local association leaders.

    In 2024, NAR launched facts.realtor, a resource providing updates and guidance on practice changes outlined in the settlement. The platform includes over 120 FAQs, a legal video series, and consumer guides in English and Spanish. NAR also offered its Accredited Buyer's Representation (ABR) designation course at no cost to members, with nearly 162,000 REALTORS taking advantage of this benefit.

    NAR's advocacy efforts were successful, defending private property rights, securing approval for VA buyers to compensate their brokers directly, and supporting industry-friendly policies and candidates. The REALTORS Political Action Committee achieved a 97% success rate in the 2024 election cycle.

    The association's research team provided thought leadership and produced key housing market data and research reports, generating significant interest among members and consumers. NAR Chief Economist Lawrence Yun and his team spoke at over 400 events across local and state associations, brokerages, and third-party organizations, with their research content attracting 1.9 million website visits, 240,000 report downloads, and 100,000 social shares in 2024.