National Association of Realtors cutting nearly 12% of staff as a part of a 'strategy to reduce costs, streamline operations'

Lizzie Kane, Chicago Tribune on Mar 28, 2025

Published in Home and Consumer News

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The Chicago-based National Association of Realtors is laying off nearly 12% of its staff and eliminating 20 open positions, according to a news release posted on the organization’s website Friday.

The cuts affect 41 of NAR’s 344 employees and, with the elimination of open roles, hit various departments including public relations and communications, creative and content strategy, digital strategy, meetings and events, member development, human resources, member engagement, member experience, research, finance and IT.

“The industry is changing, and it is our responsibility to lead and change with it,” said NAR CEO Nykia Wright in the Friday news 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.”

The staffing cuts come as NAR is on the hook to pay $418 million to home sellers after the trade association and real estate brokerages nationwide agreed roughly a year ago to settle class-action antitrust lawsuits filed by home sellers who argued they were forced to pay inflated commissions to real estate brokers. NAR also agreed to change its rules for members as of August 2024 to require potential homebuyers to sign written agreements stating how their agents will be paid, a significant change to how homes are bought and sold.

Asked about the challenges Wright refers to in the news release, a NAR spokesperson told the Tribune that the elimination of roles is “not related to the settlement.”

“This decision is part of a broader effort to reshape NAR to ensure it remains a strong, sustainable organization that delivers value to our members,” the spokesperson said. “Like any responsible association, we regularly assess our operations to align resources with our strategic priorities. While financial considerations are always an element in any change, this restructure is fundamentally about optimizing NAR for the future.”

The news release said the staffing changes are a part of a “monthslong strategy to reduce costs, streamline operations, and reposition (NAR) to offer robust solutions and support for its members and consumers.”

NAR is also “reducing expenses in some areas and reallocating budget dollars” toward its advocacy, research, data and education functions that will “provide members access to more useful and critical resources,” the news release said.

Other changes at the organization include the recent naming of Matthew Cenedella as NAR’s new chief financial officer and the hiring of Sharon White in November 2024 as the organization’s first chief human resources officer. NAR has undergone a series of leadership changes since 2023, with two presidents and a CEO resigning following allegations of sexual harassment against its former President Kenny Parcell.

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