The National Association of Realtors (NAR) is the largest trade organization in North America. It had, as of 2006, 1 million members including its institutes, societies and councils. It is involved in all aspects of the residential and commercial real estate industries. It also acts as a self-regulatory body for real estate brokerage.
The membership of the NAR is composed of residential and commercial real estate brokers, real estate sales people, immovable property managers, counselors and other people involved in the real estate industry. The Members of NAR are members of one or more of the 1,600 local Associations of Realtors and Boards of Realtors in the 54 states and territory Association of Realtors. All members of NAR have to adhere by the Code of Ethics and Standards of Practice which applies to not only to them but also to their clients, the public and other realtors.
The National Association of Realtors has a lot of influence as a lobbying organization. It lobbies on behalf of agents and brokers. In 2005, NAR had the largest Political Action Committee in the United States. It was also the 3rd largest donor to the Presidential election in 2004. The NAR is also a member of the Real Estate Roundtable which is a policy group in Washington D.C.
The NAR governs the hundreds of Multiple Listing Service systems which are the information exchanges used across the country by real estate brokers. However, there are a few MLSs that are independent of the NAR although these are limited to licensed brokers and their agents. NAR sets the policies for most of the Multiple Listing Services.
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