In a significant organizational restructuring, the National Association of Realtors (NAR) announced today that it is eliminating 61 positions as part of a “months-long strategy to reduce costs, streamline operations and reposition itself to offer robust solutions and support for its members and consumers.”
The 61 job cuts at the real estate member association include 41 existing employees and 20 open jobs that NAR says were “redundant or that could be integrated elsewhere in the organization.”
The workforce reductions impact 11 departments with a range of job functions, including digital and content strategy, public relations, member services, human resources, finance and research. At the same time, NAR stated in a press release that it is reallocating part of its budget to advocacy, research, data and education functions.
The NAR staffing cuts follow several notable changes in its executive ranks. In August of last year, the association named Nykia Wright, former CEO of the Chicago Sun-Times, as its top executive following a nine-month stint as interim CEO.
Wright replaced Bob Goldberg, who stepped down as CEO in 2023 after a federal jury found NAR and several residential brokerages liable of conspiring to inflate home commissions. In November 2024, a federal judge approved a $418 million agreement to settle the antitrust claims.
NAR also named former Women’s Tennis Association executive Matthew Cenedella as its chief financial officer in March and appointed several other top executives in recent months.
Wright addressed today’s staffing shakeup in a press release.
“As we continue managing our finances to meet the challenges of today and tomorrow, we need to invest in the best people, adopt the right processes and apply the most advanced, cost-effective technology while remaining prudent financial stewards of the enterprise,” Wright said.
NAR’s 2024 year-in-review report states that the association cut costs in 2024 and passed its “first balanced budget in at least 10 years.” According to the report, the budget included a $20 million reduction in expenditures, “in part in anticipation of future settlement payments.”
