NAR adopts strategic plan with sharp budgeting, compliance focus 

HOUSTON — The National Association of Realtors' executive committee has unanimously passed a three-year strategic plan that it described as a roadmap to modernize the organization and transform the member experience.

At NAR NXT 2025, the association listed 24 initiatives in eight "commitment" categories that it intends to tackle beginning Jan. 1. These commitments were broad, generally addressing what NAR plans to do for its members, partners, the real estate community at large and consumers.

Significant changes to budget strategy

In a Nov. 16 press briefing, NAR CEO Nykia Wright gave some examples of the projects that the association plans to tackle. These include the introduction of zero-based budgeting, which means that every expense will need to be justified. 

Budgeting will have a baseline of 1.2 million members, Wright clarified. That's below the current membership total of 1.491 million members, which isn't far off from membership totals prior to the housing market slowdown in 2022.

Membership "has been relatively sticky, but we are in a race to continue to prove our worth," Wright said.

The new zero-based budget strategy marks a significant change for NAR, and is being adopted in part because new people are in place who want to better understand how the money is being spent. "I need to go down to the molecular level and understand what's in those budgets," Wright said. "Are there ways for us to continue to cut money out and possibly reallocate it, just based on the new initiatives that we will be putting forth."

Overall, NAR aspires to tackle 75 projects over the next three years — but Wright said the plan is flexible. "It's not finished or finite," Wright said, adding that the path ahead will depend "on the new things that come online or in the system over the next few years."

"The next strategic planning committee will have to grapple with whatever those current constraints are," she added.

Transparency is top of mind, NAR says

NAR has committed to publishing an annual report, the first of which is scheduled to be released in the first quarter of 2026. The executive committee will be regularly updated on the progress that the association is making, though Wright said NAR is still working out a strategy for providing members with updates throughout the year.

In terms of what NAR is focusing on, here's a breakdown:

Commitment to members: To help Realtors thrive in their day-to-day business, NAR is zeroing in on including more actionable residential and research highlights, and offering more training opportunities and advanced technology tools. Zero-based budgeting is also expected to yield benefits to members.

Commitment to the industry: As NAR continues to analyze and address legal risks and win cases with industry partners, the association is focusing on strengthening its code of ethics through training and enforcement of existing policies. NAR is also looking into ways to create premier events and attract the next generation of members and leaders.

Commitment to partners: NAR aims to improve data flow and collaborate on products and services that benefit Realtors by partnering with real estate associations and institutions.

NAR is also focused on building a common understanding about different roles and what they entail — something that appears to have gotten a bit confusing amid the myriad of court cases in recent years.

Commitment to consumers: NAR said it will continue to champion policies that promote and expand access for the next generation of homeowners and will partner with consumer-facing organizations. NAR's goal is to be that "first voice" in industry developments and regulatory updates, and to create a voice tailored to different audiences.