The National Association of Realtors (NAR) is a professional organization that represents real estate agents, brokers, and appraisers in the United States. It is the largest trade association in the country, with over 1.4 million members as of 2021. The NAR was founded in 1908 and has played a significant role in shaping the real estate industry in the United States.
Realtor Beggings – Why It Was Needed
The origins of the NAR can be traced back to the early 20th century when the real estate industry was still in its infancy. At the time, real estate agents and brokers were not Realtors and had a negative reputation due to the prevalence of dishonest practices and unscrupulous individuals. In response, a group of real estate professionals in Chicago formed the National Association of Real Estate Exchanges (NAREE) in 1906. The organization was created to establish ethical standards for the industry and to promote the interests of its members.
In 1913, the NAREE changed its name to the National Association of Real Estate Boards (NAREB) to better reflect its focus on local real estate boards. The organization continued to grow and expand throughout the first half of the 20th century, establishing a code of ethics and promoting professionalism in the industry.
Expansion and Growth Of Realtors
In the 1960s and 1970s, the NAR began to expand its membership and influence. In 1960, the organization changed its name to the National Association of Real Estate Boards (NAREB) to better reflect its focus on the interests of individual real estate professionals. In 1974, the organization changed its name once again to the National Association of Realtors (NAR) to emphasize the role of real estate professionals as advocates for property owners and the community.
Throughout the 20th century, the NAR played a significant role in shaping real estate policy and legislation at the national level. The organization was instrumental in the creation of the Federal Housing Administration (FHA) in 1934, which provided mortgage insurance and helped to establish the modern American mortgage market. The NAR also played a key role in the creation of the Department of Housing and Urban Development (HUD) in 1965, which oversees federal housing programs and initiatives.
The NAR has also been active in promoting fair housing and combating discrimination in the industry. In 1968, the organization adopted a fair housing policy that prohibited discrimination based on race, color, religion, sex, national origin, handicap, or familial status. This policy was later expanded to include sexual orientation and gender identity.
Realtors in the Modern Era
In the 21st century, the NAR has continued to expand its membership and influence. The organization has embraced new technology and digital platforms to connect with members and promote its mission. In 2011, the NAR launched its Realtor.com website, which has become one of the most popular online real estate portals in the United States.
The NAR has also been active in promoting sustainability and green building practices in the real estate industry. In 2008, the organization launched its Green Resource Council to promote environmentally sustainable practices in real estate transactions. The NAR has also been involved in promoting energy-efficient building practices and advocating for federal policies to support sustainability.
NAR Shaped the Real Estate Industry
The National Association of Realtors has played a significant role in shaping the real estate industry in the United States for over a century. The organization has worked to establish ethical standards for the industry, promote professionalism among its members, and advocate for the interests of property owners and the community. As the real estate industry continues to evolve, the NAR will likely remain a key player in shaping policy and promoting best practices in the field.