NAR has changed the requirements for qualifying for “REALTOR® Emeritus” status to include at least one year of service to the association. Until now, anyone who was a dues-paying member for 40 years would qualify; 8,149 REALTORS® currently hold the status.
REALTOR emeriti have their national dues — currently $120 per year — waived for life. (Virginia also waives state dues, and some local associations also waive them.)
Starting in 2015, to qualify for REALTOR® Emeritus status a member will have to have served at least one year on a national committee, as an NAR director, or as a Federal Political Coordinator. Through 2019, the requirement can also be met through similar service on the state level.
According to NAR CEO Dale Stinton, part of the rationale behind the change was the aging REALTOR® demographic. With a median age of about 57, “A lot of our members are getting up there, completing the 40 years,” Stinton had said at NAR’s mid-year conference in May. “There was a concern that we could have 50,000 people” qualify for emeritus status, Stinton said. That would have cost the association $6 million in annual dues.