Tracy Kasper, the president of the National Association of Realtors (NAR), has stepped down from her position after receiving a threat to disclose a personal matter, according to a press release issued by the trade group on Monday.
This marks the third recent executive shake-up within NAR, which has been facing legal battles over broker commissions, adding further pressure to the already embattled real estate industry trade group.
Effective immediately, Kevin Sears, an agent from Springfield, Mass., will assume the position of president.
NAR expressed deep concern about any attempt to undermine its governance, and stated that steps are being taken to safeguard the organization’s integrity. In the press release, Kasper emphasized her commitment to prioritizing the interests of NAR, stating, “I have always put the interests of NAR first. Given the recent threat and the significance of this moment for myself, my family, and the organization, it is once again time for me to put the interests of NAR first.”
This latest development adds to the ongoing crises faced by NAR, including sexual harassment allegations against its former president, a change in CEO, and ongoing legal disputes surrounding broker commissions.
The Changing Leadership of the National Association of Realtors
However, these resignations are not the only high-profile executive exits within the trade group. In early November, NAR announced that its CEO of three decades, Bob Goldberg, would step down earlier than planned. Nykia Wright has been appointed as the interim CEO.
In addition to leadership upheavals, the NAR is currently involved in litigation concerning broker commissions. In October, a Missouri jury found that the trade group, along with several brokerages, had conspired to maintain higher brokerage fees for sellers.
NAR holds a prominent position as the main professional organization for U.S. real estate agents, boasting approximately 1.6 million members in 2023. Notably, it is also one of the largest lobbying spenders in the nation, ranking second behind the U.S. Chamber of Commerce. According to OpenSecrets.org, NAR invested around $34 million in lobbying efforts during 2023.