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HousingWire Daily
James Kleimann on Ryan Serhant’s new reality TV show
Jul 12, 2024
James Kleimann, Managing Editor, discusses Ryan Serhant's reality TV show and NAR membership report. They explore income disparities among agents, challenges in the luxury market, and drama among agents on the show. Concerns are raised about the focus on drama potentially harming the brokerage's reputation.
32:02
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Quick takeaways
- Membership in the NAR decreased by 2% in 2023 due to tough market conditions.
- Real estate reality shows like 'Owning Manhattan' may skew public perception of real estate professionals.
Deep dives
Declining NAR Membership
Membership in the National Association of Realtors declined slightly from about 1.58 million members at the end of 2022 to roughly 1.55 million members at the close of 2023, reflecting a decrease of about 2%. This decline was attributed to the challenging housing market conditions in 2023, with existing home sales hitting their lowest point since 1995. Despite reports of impending major shake-ups in the real estate industry, the decline in membership is seen as part of an ongoing trend due to lawsuit settlements and tough market conditions.
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