Key facts
- National Association of Realtors directors voted to keep national dues at $156 per member for 2027.
- A proposed ethics standard requiring disclosure of knowledge gaps was sent back to committee for further review.
- The proposed Standard of Practice 1-17 would have required members to disclose when they lack knowledge about a property type or geographic area.
- Directors approved a change to compensation requests for unlisted properties, requiring them by offer presentation.
- Patti Fitzgerald was elected treasurer for 2027 and 2028.
- The 2027 leadership team, including president Christine Hansen, was approved.
The National Association of Realtors (NAR) board of directors convened last week, making key decisions regarding membership dues, leadership, and ethical standards. Directors voted to keep national dues at $156 per member for 2027, a rate that has been consistent since 2023. This decision was made as the organization navigates membership declines influenced by a slower transaction market, brokerage consolidation, and the fallout from commission lawsuits.
A significant portion of the meeting was dedicated to a proposed new ethics standard, Practice 1-17, under Article 1 of NAR's Code of Ethics. This proposal aimed to require members to disclose when they lack the necessary knowledge, information, or skills about a property type or geographic area to adequately protect a client's interests. Supporters argued it would reinforce the duty to put clients first through transparency, while opponents questioned its enforceability and potential impact on newer agents. Ultimately, the directors voted 497–356 to refer the proposal back to the Professional Standards Committee for further review, leaving existing Article 1 obligations unchanged.
In other professional standards changes, directors approved a requirement that any request for compensation from a seller of an unlisted property must be made no later than when an offer is presented, a shift from the previous requirement of first contact. This evolution of ethics rules comes amid increased scrutiny on industry practices and pressure for higher professionalism and consumer protections.
Financially, directors approved using 1.2 million members as the basis for 2027 budget planning, a decrease from the 1.4 million projected for 2026. The Consumer Advertising Campaign assessment structure will continue from 2026.
NAR's 2026 President Kevin Brown updated directors on federal housing policy, noting the Senate's advancement of the 21st Century ROAD to Housing Act. CEO Nykia Wright also provided updates on the organization's strategic plan.
The 2027 leadership team was also finalized. Patti Fitzgerald of Florida defeated Matt Ritchie of Louisiana by a vote of 506–424 to serve as treasurer for 2027 and 2028. The remainder of the 2027 leadership team, including President Christine Hansen, was approved by consent agenda.