{"id":4309,"date":"2023-05-08T19:20:49","date_gmt":"2023-05-08T19:20:49","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/05\/08\/nar-proposes-indexing-membership-dues-with-inflation\/"},"modified":"2025-03-13T02:51:06","modified_gmt":"2025-03-13T02:51:06","slug":"nar-proposes-indexing-membership-dues-with-inflation","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/05\/08\/nar-proposes-indexing-membership-dues-with-inflation\/","title":{"rendered":"NAR proposes indexing membership dues with inflation"},"content":{"rendered":"\n

The National Association of Realtors<\/strong><\/a> (NAR) is considering a proposal to align increases in membership dues to changes in the Consumer Price Index<\/a><\/strong>.\u00a0<\/p>\n\n\n\n

Greg Hrabcak, the treasurer of the trade organization, announced the proposal from the NAR Finance Committee on Sunday evening during NAR\u2019s annual Legislative Meeting<\/a>.<\/p>\n\n\n\n

\u201cNAR ended 2022 with a strong financial position with record high membership,\u201d Hrabcak told attendees.<\/p>\n\n\n\n

\u201cWith that said, the strength will be tested in the next few years under challenging conditions,\u201d Hrabcak added. \u201cOur chief economist Dr. Lawrence Yun<\/a> predicts an estimated 15% decline in membership over the next couple of years. As a result, the association anticipates an estimated $10- $15 million budget deficit beginning in 2024.\u201d<\/p>\n\n\n\n

The trade organization ended 2022 with 1,580,971 members, a new record. However, NAR anticipates membership will drop<\/a> to 1.5 million in 2023 and 1.38 million in 2024.\u00a0<\/p>\n\n\n\n

As it currently stands, annual dues for NAR members are $150, with an additional contribution of $45 to its consumer ad campaign fund.\u00a0<\/p>\n\n\n\n

If the proposal is approved during Thursday\u2019s board of directors\u2019 annual budget meeting, the likelihood of annual dues hikes would increase. However, Hrabcak noted that the increase would never exceed 4% rounded to the nearest whole dollar. Under the proposal, indexing would start in 2024.\u00a0<\/p>\n\n\n\n

\u201cWe understand the challenges members are facing and we are committed to meeting their needs and keeping NAR financially sound,\u201d Hrabcak said.<\/p>\n\n\n\n

If approved, membership dues would rise to $156 in 2024, a 4% increase from current dues. <\/p>\n","protected":false},"excerpt":{"rendered":"

The National Association of Realtors’ Finance Committee has proposed increasing membership dues at the pace of inflation.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-4309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nNAR proposes indexing membership dues with inflation<\/title>\n<meta name=\"description\" content=\"The National Association of Realtors' Finance Committee has proposed increasing membership dues at the pace of inflation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/preprod.realtrends.com\/blog\/2023\/05\/08\/nar-proposes-indexing-membership-dues-with-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NAR proposes indexing membership dues with inflation\" \/>\n<meta property=\"og:description\" content=\"The National Association of Realtors' Finance Committee has proposed increasing membership dues at the pace of inflation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/preprod.realtrends.com\/blog\/2023\/05\/08\/nar-proposes-indexing-membership-dues-with-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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