Key facts
- NAR had 1,469,127 members at the end of September, treasurer Craig Sanford told the board.
- Membership was 22% above the 1.2 million budgeted and 1.5% below a year earlier.
- Dues revenue was about $220 million of more than $250 million in revenue as of the end of September.
- The board approved a 2027 operating and advocacy budget with $280,169,801 gross revenue and $246,952,390 gross expenses.
- Directors approved bylaws amendments for institutes, societies and councils by 864 votes to six.
The National Association of Realtors had 1,469,127 members at the end of September, treasurer Craig Sanford told the association's board of directors at its 2026 NXT meeting, according to a report published November 9, 2026. That was 22% above the 1.2 million members NAR had budgeted for and 1.5% below membership a year earlier. Sanford said renewals for 2027 were tracking in line with where they were in 2026.
Membership dues brought in roughly $220 million of the more than $250 million in revenue NAR had reported as of the end of September. Sanford said expenses as of late September came in roughly $7 million better than budgeted, though he expected some of those savings to be reduced by fourth quarter advocacy spending after the midterm elections. He said NAR's cash and investments remain strong enough to meet upcoming settlement payments while investing in new products and services.
"In my two years as treasurer, I have seen the start of one of the greatest financial modernization in transformation in NAR's history," Sanford said. He said the association had implemented a new accounting system, moved to monthly accrual accounting, onboarded a new auditor, implemented zero-based budgeting and was about to send its third consecutive balanced budget to the board.
The board approved a 2027 operating and advocacy budget of $280,169,801 in gross revenue and $246,952,390 in gross expenses. More than 90% of directors approved a 2027 consumer advertising campaign budget of $12 million in gross revenue and $13.696 million in program expenses. More than 95% approved capital expenditure needs of $2.42 million for 2027 technology and $3.06 million for 2027 building needs.
Directors also approved proposed amendments to the bylaws of the institutes, societies and councils by 864 votes in favor and six opposed. The meeting included the installation of the 2027 leadership team: president Christine Hansen, president-elect Colin Mullane, first vice president Pete Kopf and treasurer Patti Fitzgerald. The board approved those leaders in May at NAR's Realtors Legislative Meetings.