In accordance with the shape, lower than $9 million of that income got here from member dues, with the remainder of it coming from funding revenue, which was up roughly $20 million yearly.
The affiliation’s internet revenue was $10.7 million in 2024, down from $39 million a 12 months prior, regardless of its whole liabilities falling $5 million yearly to $690 million, with $440 million of that being attributed to the settlement litigation.
NAR’s internet property on the finish of 2024 got here in at $387 million, up from $363 million a 12 months in the past. This whole contains $199 million in “financial savings and short-term money investments.” The commerce affiliation’s whole property, which incorporates land, buildings and tools got here in at $1.08 billion.
In an emailed assertion, an NAR spokesperson wrote that because of the from solely capturing 2024 knowledge, it doesn’t replicate the “important progress” the commerce group has made in “enhancing member worth, modernizing the affiliation, and strengthening fiscal self-discipline” in 2025.
Salaries for executives are excessive
As for salaries and government bills, which have been a sticking point in NAR’s 2023 Type 990, there have been simply three executives whose compensation got here in at over $1 million in 2024, one in every of whom was naturally NAR CEO Nykia Wright. Whereas Wright joined the group in late 2023, she was not named as everlasting CEO until August 2024. For her work in 2024, Wright was paid simply over $2.5 million, with $250,000 of that being designated as an incentive or bonus. Compared, for Wright’s predecessor Bob Goldberg’s final full 12 months as CEO in 2022, $642,000 of his whole compensation of $2.6 million was designated as a bonus.
The opposite two NAR executives to make over $1 million in 2024, embody Mark Birschbach, the senior vp of strategic enterprise innovation and expertise, who made $1.2 million, and NAR’s chief advocacy workplace Shannon McGahn, who netted $1.1 million. Each McGahn and Birschbach additionally remodeled $1 million in 2023.
Kevin Sears, NAR’s 2025 president, who started his time period prematurely in January 2024, was paid $357,000 for his service in 2024. Compared, Leslie Rouda-Smith, NAR’s 2022 president and the final president to serve a full time period previous to Sears, obtained $413,566 in 2023 because the affiliation’s instant previous president.
Journey bills, which have been another sore spot on NAR’s 2023 Type 990, have been down roughly $1.5 million from 2023 to $8 million.
Vital improve in public coverage spend
With 2024 being a nationwide election 12 months, it comes as no shock that NAR recorded a big improve in public coverage spending from 2023 to 2024, with spending leaping from $17 million to $48 million. Total, NAR’s whole lobbying and political expenditures got here to $86 million.
As for authorized bills, regardless of all the fee lawsuit settlement negotiations and hearings, NAR’s authorized expenditures with Cooley LLP, its primary authorized consultant, dropped from $12.4 million in 2023 to $5.6 million in 2024. Moreover, whole exterior authorized expenditures dropped from $19.5 million to barely lower than $18 million.
NAR additionally spent fairly a bit on communications and promotions in 2024, with media and communications agency Havas Media Group receiving practically $43 million, nevertheless that is down roughly $10 million from 2023. The commerce group additionally paid $7.9 million to Unusual Inventive Studio, which was chargeable for NAR’s 2025 shopper advert marketing campaign. In whole, NAR spent $37 million on promoting and promotion, down from $39 million in 2023.
NAR additionally spent fairly a bit on grants, paying out $24 million in 2024, up from $17 million in 2023. Whereas nearly all of these grants went to native Realtor associations, $6.6 million of that whole went to the American Property Proprietor’s Alliance (APOA) up $2 million from 2023. The APOA is a non-profit managed by NAR that contributes to political causes and organizations. In 2023, the non-profit was accused by The New York Times of funding conservative organizations unrelated to housing. In response, NAR mentioned The Instances’ findings concerning the APOA have been “not solely biased, however at instances, factually incorrect.”
In early 2026, NAR will publish its new annual report showcasing info on 2025, as per its not too long ago accredited strategic plan.
“In an annual report we’re publishing within the first quarter of 2026, we’ll transparently present the influence of our work to enhance the affiliation and its usefulness to members as properly preview the steps we’ll absorb 2026 to additional enhance how NAR operates and delivers for members shifting ahead,” mentioned an NAR spokesperson.
The group not too long ago got here beneath strain from a broker working group for elevated transparency associated to its financials.
