The National Association of REALTORS is America's largest trade association, representing 1.5 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. Our membership is composed of residential and commercial brokers, salespeople, property managers, appraisers, counselors, and others engaged in the real estate industry. Members belong to one or more of approximately 1,200 local associations/boards and 54 state and territory associations of REALTORS. NAR provides educational and member oriented products and services, identifies and analyzes emerging public policy issues, and takes action with respect to legal issues for the benefit of its members throughout the United States and its territories.