The 2025 NAR REALTORS® Legislative Meetings Conference is a wrap with several updates to report! HAAR Leadership attended and participated in several committee and caucus meetings, received updates from NAR Leadership, and met directly with Representative Dale Strong to communicate north Alabama real estate legislative needs. Read below to get up to date!
BREAKING: Update on Standard of Practice 10-5 & Professional Standards Policy Statement 29
From NAR President Kevin Sears:
Dear members,
I wanted to share an update about changes to the Code of Ethics that were ratified at the recent REALTORS® Legislative Meetings—specifically, Standard of Practice 10-5 (“SOP 10-5”) and Professional Standards Policy Statement 29, which fall under Article 10.
As you know, the Code of Ethics is what distinguishes REALTORS® from other real estate professionals. It is the foundation of our ability to earn and maintain consumers’ trust as we fulfill our mission to preserve, protect, and advance the right to real property for all. To ensure these guidelines are up to date, NAR’s Professional Standards Committee is tasked with continually assessing and, when appropriate, amending the Code of Ethics.
NAR takes any changes to the Code of Ethics seriously, and I wanted to explain the context and rationale for these changes.
Article 10 prohibits REALTORS® from denying equal professional services and employment opportunities based on protected characteristics. SOP 10-5 was adopted in 2020 to further clarify the application of Article 10 by prohibiting REALTORS® from using harassing speech, hate speech, epithets, or slurs.
Like any other article of the Code of Ethics, state and local associations are empowered to enforce Article 10.
In the years since 2020, it has become clear that there has been uncertainty about the interpretation and implementation of these standards of practice. With more than a million members across the country, we need to ensure the specific articles of the Code of Ethics are clear in their language and intent and can be enforced fairly and consistently. Without this, the defensibility—and sustainability—of the Code itself is in doubt.
At RLM, the Professional Standards Committee moved to recommend changes to SOP 10-5, which were then ratified by both the NAR Executive Committee and Board of Directors, in accordance with our amendment process.
The new language, which you can review here, 1) creates a more specific definition of “harassment,” aligning with the definition in the NAR Member Code of Conduct, and 2) focuses Article 10’s—along with the entire Code of Ethics’—application on instances in which REALTORS® are operating in their professional capacity, consistent with similar ethical requirements applied by other large trade associations across the country. Further, by enhancing the clarity of this language, the changes reduce risk to state and local associations and their volunteer leadership who administer and enforce Article 10.
I will conclude by emphasizing that NAR is deeply committed to upholding principles of fair housing and equal treatment for all consumers—these changes aim to make the Code of Ethics clearer while continuing to hold REALTORS® to the highest ethical and professional standards.
If you have any questions about the proposed changes or NAR’s formal process for amending the Code of Ethics, please contact the NAR Member Policy team at narpolicyquestions@nar.realtor.
Thank you,
Kevin Sears
President, National Association of REALTORS®
Advocacy Scoop's Recap of RLM
The newest Advocacy Scoop Podcast episode recaps key takeaways from the REALTORS® Legislative Meetings, from tax wins to what’s next in the Senate. Bonus content: Stick around as NAR tax experts unpack what the newest legislation could mean for REALTORS®! Tune in.
Meeting with Rep. Dale Strong
HAAR Leadership, staff, and Federal Political Coordinator RaJane Johnson met with Congressman Dale Strong (AL-5) while in D.C., communicating several federal priorities to our representative in the U.S. House of Representatives.
HAAR representatives had several asks with the main goals to increase housing supply and support independent contractors.
Increase Housing Supply – America is facing a housing shortage crisis. Four bills NAR requests congressional support:
The More Homes in the Market Act (H.R. 1340) decreases the equity penalty for selling primary residence.
The Housing Supply Framework Act (H.R. 2840/S. 1299) reduces barriers to new housing developments by creating a national strategy for housing production.
The Revitalizing Downtowns and Main Street Act (H.R. 2410) – 20% tax credit for conversion of underutilized commercial buildings to mixed-use or residential.
The Uplifting First-Time Homebuyers Act (H.R. 3526) – increases to $30K what could be withdrawn penalty-free from an IRA for a down payment.
Support Independent Contractors – 88% of REALTORS® operate as self-employed independent contractors. Three bills NAR requests congressional support:
The Association Health Plans Act (H.R. 2528/S. 1847) gives REALTORS® access to health care through an association health care plan.
The Direct Seller and Real Estate Agent Harmonization Act would ensure real estate agents maintain independent contractor status under the Fair Labor Standards Act (FLSA).
The Main Street Tax Certainty Act (H.R. 703/S. 213) would preserve the 20% deduction for pass-through business income.
Risk Reduction Tips for Brokers
HAAR members were briefed on high-level tips for risk management and reduction for Brokers and their agents. Click below for the full readout and comprehensive document from NAR.
No Dues Increase in 2026
The National Association of REALTORS® Board of Directors approved a 2026 budget with no dues increase and passed a Professional Standards Recommendation to clarify language in NAR Code of Ethics Standard of Practice 10-5, which prohibits harassment of any person or persons protected under Article 10 of the Code.
A day earlier, the Executive Committee approved another Professional Standards change, revising language for Policy Statement 29 designed to ensure state and local associations can fairly and consistently enforce the Code of Ethics.
Learn more about the changes.
Read the revised Code of Ethics and Standards of Practice.
Board members also approved a consent agenda to elect the 2026 officers and regional vice presidents. Christine Hansen of Ft. Lauderdale, Fla., was elected 2026 President-Elect, and Colin Mullane of Ashland, Ore. was elected 2026 First Vice President.
The meeting opened with a video message from President Donald Trump, who welcomed REALTORS® to Washington and thanked them for support of the House-passed tax reform. NAR routinely invites the U.S. president to address REALTORS® at the Washington meetings. Over NAR’s history, nine sitting presidents have addressed the association.
Board Actions
Approved a series of Finance Committee recommendations, accepting the association’s financial statement, approving the 2026 operating and advocacy budgets, and keeping dues at $156. The board actions also redirect $35 of the $45 Consumer Advertising Campaign assessment to operating funds. This change positions NAR to make its next settlement payment in February 2026 and maintain a balanced budget without raising total dues. The remaining $10 for the Consumer Advertising Campaign will fund optimized, metrics-driven activities that reach and engage consumers in critical markets. NAR CEO Nykia Wright and President Kevin Sears explained the shift at the opening session of the conference.
Amended Standard of Practice 10-5 to give state and local associations greater clarity in how to fairly and consistently enforce Article 10 of the Code of Ethics. The amended Standard of Practice says that REALTORS®, in their capacity as real estate professionals, in association with their real estate businesses, or in their real estate-related activities, shall not harass any person or persons based on race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity.
Made a series of recommendations to the Standards of Practice to bring the language in line with the terms of NAR’s 2024 settlement.
Approved a motion to make one member of the Executive Committee a commercial practitioner who has served as chair, vice chair or liaison of an NAR commercial-related committee or forum to serve a two-year term and be independent of the 10% commercial representation requirement outlined in the NAR Constitution.
Approved a recommendation from the Credentials and Campaign Rules Committee to amend qualifications for president-elect, first vice president and treasurer effective Jan. 1, 2026. Qualifications for top-line officers are now aligned with those already in place for regional vice presidents.
Approved recommendations from the Member Accountability Committee related to applications for volunteer leadership and the Statement of Appropriate Event Conduct. The goal of the recommendations is to ensure members found in violation of the NAR Member Code of Conduct are properly disclosed.
NAR Chief Economist Lawrence Yun Says Mortgage Rates' Fast Rise Hurt Housing Market, During REALTORS® Legislative Meetings Economic Forum
WASHINGTON (June 3, 2025) – National Association of Realtors® Chief Economist Lawrence Yun said existing home sales will increase by 6% in 2025 and by 11% in 2026 during the “Residential Economic Issues & Trends Forum” at the NAR 2025 REALTORS® Legislative Meetings. Yun forecasted that new-home sales will rise by 10% in 2025 and by 5% in 2026, the median home price will climb by 3% in 2025 and by 4% in 2026 and that mortgage rates will average 6.4% in the second half of 2025 and 6.1% in 2026.
“The housing market remains very difficult at the moment, as you know,” Yun told a ballroom of real estate professionals. “Part of the delay in recovery is because the Federal Reserve has changed its outlook and appears to be on pause for a longer period.”
In 2024, the Federal Reserve previously forecast that gross domestic product would increase 2.1% and inflation would rise by 2.4%, but it downgraded that forecast in March 2025, lessening its forecast for GDP to rise by only 1.7% and raising its inflation forecast to 2.7%.
“The fast ascent of mortgage rates has really hurt the real estate market,” Yun added.
