Executive Compensation at the National Association of Realtors (2021)

The National Association of Realtors (NAR) is the largest professional trade association in the US. A non-profit tax-exempt 501 (c) (6) based in Chicago, Illinois, NAR represents 1.5 million members who belong to one or more of the 1,200 associations/boards and 54 state or territory associations.  Members can be residential or commercial brokers, sales people, property managers, real estate appraisers, counselors and others who work in the real estate industry.

NAR functions as a self regulatory agency, a lobbying organization, and as a provider of accreditation and certification of designations.

In 2021, NAR reported total revenue of $327 million (compared to $301 million in 2020, $338 million  in 2019, and $245 million in 2018), of which $284 million (87% of revenue) came from membership dues.

Expenses totaled $248 million in 2021 with the largest expense reported to be compensation ($65 million or 20% of total revenue) for the 356 employees who received an average compensation of $183,000. However, only 205 employees (58% of staff) received more than $100,000 with the 13 most highly compensated employees reported to be:

• $2,573,144:  Bob Goldberg, CEO
• $1,036,871:  Mark Birschbach, SVP, Strategic Business Innovation and Tech
• $1,011,086:  Shannon McGhan, SVP, Government Affairs
• $  963,164:  Katherine Johnson, SVP General Counsel
• $  750,630:  Lawrence Yun, SVP Chief Economist
• $  733,035:  John Pierpoint, CFO
• $  638,779:  Victoria Gillespie, Chief Marketing and Communications Officer
• $  576,446:  Marc Gould, SVP, Membership Development
• $  565,322:  Donna Gland, SVP Talent Development Resources
• $  311,052:  Bill Malkasian, Chief Advocacy Officer
• $  294,798:  Charles Oppler, President 
• $  251,788:  Leslie Rouda Smith, President – Elect
• $  250,000:  Dale Stinton, CEO (former officer)

The 13 most highly compensated employees received $10 million in compensation or an average compensation of about $770,000 each.  If the most highly compensated employees were excluded from the total amount of compensation paid, then 353 employees were compensated about $55 million, which equates to an average compensation of $156,000.

8 of the 13 (62%) most highly compensated employees are male while 5 of the 13 (38%) are female.

The most highly compensated employee was Bob Goldberg, the CEO who received nearly $2.6 million in 2021.  From 2017-2021, Mr Goldberg received nearly $11 million in compensation:

Bob Goldberg:  Total Compensation: 2017-2021:  $11 million

• 2021:  $2,573,144
• 2020:  $2,531,903
• 2019:  $2,281,240
• 2018:  $1,968,232
• 2017:  $1,205,373

Mark Birschback received more than $1 million in compensation in 2021 and nearly $3 million from 2019-2021:

Mark Birschback:  Total Compensation:  2019-2021:  $3 million

• 2021:  $1,036,871
• 2020:  $  884,126
• 2019:  $  754,755

Shannon McGhan also received more than $1 million in compensation in 2021 and nearly $3 million from 2019-2021:

Shannon McGhan:  Total Compensation:  2019-2021:  $3 million

• 2021:  $1,011,086
• 2020:  $  912,174
• 2019:  $  825,663

Dale Stinton is the former CEO, who retired in 2017 but has a consulting agreement with NAR. According to the Form 990, Mr. Stinton worked 30 minutes a week for $250,000 annually, or about $5,000 a week.  At $10,000 an hour, Mr. Stinton must be making quite a contribution to NAR although the Form 990 does not disclose what that contribution is or how long this consulting contract will continue.

Dale Stinton:  Total Compensation:  2017-2021:  $7 million

• 2021:  $  250,000
• 2020:  $  250,000
• 2019:  $  250,000
• 2018:  $4,006,384
• 2017:  $1,900,680

NAR paid for first class travel, travel for companions, health or social club dues or initiation fees, and personal services (i.e. tax or legal services for certain SVP’s of the organization, and reimbursing the President for housing related costs while traveling for company business). In addition, NAR provided tax indemnification and gross up payments. For more information on these expenses, see Schedule J, Part III, Supplemental Information of the IRS Form 990.

43 independent contractors received more than $100,000 in compensation with the five most highly compensated reported to be:

• $46.0 million:  Havas Media Group, of Chicago, IL for marketing and communications
• $ 8.2 million:  Lone Wolf Technologies, of Dallas, TX for technology services
• $ 4.5 million:  Projection Presentation Technology, of Springfield, VA for video production services
• $ 2.6 million:  Schiff Harden, of Chicago, IL for legal counsel
• $ 2.5 million:  Colbalt Media Group, of Pompano Beach, FL for marketing consultants

To read the IRS Form 990 (2021), click here.