The headline coming out of the National Association of Realtors midyear conference is that fees are going up—but not by much.
According to Inman, the trade group will ask its 1.5 million members to kick in an additional $10 per year for its consumer advertising campaign. Beginning in 2023, members will pay $45 to support the effort.
That fee is on top of annual membership dues, which will remain unchanged at $150 per year.
According to Inman, NAR expects its membership to dip slightly to 1.47 million members next year—down from a projected 1.52 million this year. Dues are expected to bring in $220.5 million in revenue.
The board of directors also extended the consumer campaign for another five years through 2027.
NAR pointed to media inflation as the reason for the campaign increase.