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The National Association of Realtors on Friday announced it is permanently slashing 61 positions at the 1.5 million-member trade association as it continues a sweeping overhaul under the guidance of CEO Nykia Wright.
NAR had only recently brought on industry vets Sherry Chris (Better Homes and Gardens, Anywhere) and Jarrod Grasso (New Jersey Realtors) in advisory roles to help strengthen the association’s ties to industry professionals.
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Friday’s cuts, plus the new advisors, are all part of what NAR called a “months-long strategy” to “streamline operations” and “reposition” around its new leadership team, RIS Media reported, which now also includes Matthew Cenedella, who was named chief financial officer earlier this month.
“The industry is changing, and it is our responsibility to lead and change with it,” Wright said in a statement.
“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.”
Roles that have been slashed include 41 layoffs and 20 eliminated positions that were either “redundant or that could be integrated elsewhere,” NAR said, and encompass a variety of departments across the organization, including Creative and Content Strategy, Digital Strategy, Public Relations and Communications, Meetings and Events, Member Development, Human Resources, Member Engagement, Member Experience, Research, Finance and IT.
The majority of the layoffs are effective immediately, with some exceptions that need more time to transition, according to RIS Media’s sources who are familiar with the situation. Most eliminations are at the department level and do not include major leadership roles.
The restructuring is part of a bigger plan at the organization, which encompasses “reducing expenses in some areas and reallocating budget dollars,” to place more weight on the organization’s advocacy, research, data and education efforts, according to NAR.
When asked if the reorganization was in any way an attempt to shore up the NAR’s finances following hefty payments as a result of the commission lawsuits settlement (the association made a $197 million payment in February), a NAR spokesperson told Inman that the two were unrelated.
“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 in an email. “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.”
Wright was made interim NAR CEO in November 2023 after Bob Goldberg, who had served since 2017, retired. She took up the reins at a tumultuous time for the association, which had become immersed in legal battles, increased scrutiny from the Department of Justice, and staff discontent following sexual harassment allegations that came to light. In August 2024, she was named full-time CEO.
Other more recent leadership changes at NAR have included the promotion of Jonathan Waclawski to general counsel and senior vice president of Legal, the promotion of Shannon McGahn to executive vice president (in addition to chief advocacy officer), and the promotion of Mark Birschback to executive vice president of Strategic Business, Innovation and Technology.
Since Wright joined NAR, other long-time executives have left the company, including head of human resources Donna Gland and former Chief Legal Officer Katie Johnson, both of whom received criticism as the sexual harassment controversy unfolded.
Last November, Wright said that NAR would be hiring an outside legal firm to help assess the organization’s future risk of litigation, as some in the industry criticized that NAR’s own policy choices had led to the antitrust lawsuits. NAR continues to face lawsuits from homebuyers and scrutiny from the DOJ, which is keeping its gaze fixed on the association’s policies, like Clear Cooperation.
“Nykia Wright and the NAR team continue to reshape and improve the organization to meet the challenges of today’s residential real estate market,” RIS Media founder and CEO John Featherston said in a statement. “Today’s bold moves to ensure a more effective and responsive organization should be positively received by all NAR members as to the future direction of the association.”
During her first-ever appearance at Inman Connect New York in January, Wright called herself a “turnaround executive,” having previously brought the Chicago Sun-Times back “from the brink of extinction and irrelevance” and said she was ready to do the same with NAR, while vowing transparency in the process.
“I play to win,” Wright said then during a conversation with Brad Inman. “We’re going to turn this around.”
Email Lillian Dickerson
