Here Is The Tea!

The National Association of Realtors (NAR) is the largest trade association in the United States, representing over 1.4 million real estate professionals. It is also one of the most powerful organizations in Washington, D.C., with a significant lobbying budget and influence over federal housing policy.

But NAR has come under fire in recent years for its toxic culture and misuse of funds. In 2022, the New York Times published a bombshell article alleging that NAR's president, Kenny Parcel, had engaged in sexual harassment and misconduct. Parcel resigned shortly after the article was published, and NAR has since been rocked by a series of scandals.

One of the most troubling allegations is that NAR has been misusing its members' dues. A recent report by the news organization NowBAM found that NAR executives have been paid exorbitant salaries and bonuses.

In response to the growing backlash, NAR has made some changes. For example, it has adopted a new code of ethics and has promised to be more transparent about its finances. However, many critics argue that NAR is not doing enough to address its problems.

In recent months, a growing number of real estate brokerages and MLS companies have announced that they are leaving NAR. This exodus is largely due to NAR's toxic culture and misuse of funds.

Some of the biggest names in real estate, including Coldwell Banker, Century 21, Sotheby's International Realty, Re/Max, and Redfin, have all left NAR. These companies are now creating their own associations, which they say will be more responsive to the needs of their members and their clients.

In the face of growing pressure, NAR has recently changed its rules to allow for $0 commissions to buyer agents. This has been called “a stunning admission of guilt” by Inman, as NAR has long argued that its rules requiring listing agents to compensate buyer agents are necessary to protect consumers.

By changing its rules, NAR is essentially admitting that its previous rules were unnecessary and may have even been harmful to consumers.

NAR is at a crossroads. It is facing a number of challenges, including a toxic culture, misuse of funds, and an exodus of members. NAR needs to make significant changes to address these challenges and regain the trust of its members and the public.