National Association of Realtors president announces sudden resignation

Realtors around the country were stunned to learn of the drama unfolding at the National Association of Realtors (NAR) over the past week.

According to NBC News, NAR President Tracy Kasper announced her abrupt resignation due to what she described as a "blackmail" threat that she said would compromise her ability to lead the powerful organization.

In an email sent to the NAR's leadership team, Kasper wrote "that she recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR."

"As president and a long-time member of NAR, I always have put the interests of NAR first," Kasper said in the statement.

She added, "As a result of the recent threat and given the significance of this moment for myself, my family and the organization, it is again time for me to put the interests of NAR first."

NAR President Tracy Kasper, facing blackmail threat, steps down https://t.co/kqPMybsAJP #realestatenews #realestate

— Real Estate News (@realestatenews) January 8, 2024

In a statement, NAR revealed that she "refused to do so and instead reported the threat to law enforcement."

The organization added, "The Leadership Team is deeply concerned about any attempt to undermine its governance and, as a result, is taking steps to protect the integrity of the organization."

NBC News noted:

President-elect Kevin Sears will immediately step into the post at the group, which represents more than 1.5 million members working in the residential and commercial real estate industries.

NAR has seen a number of high-profile resignations, NBC News revealed:

Kasper’s predecessor as president, Kenny Parcell, resigned in August, two days after The New York Times published a story detailing claims he had sexually harassed women he worked with.

NAR CEO Bob Goldberg resigned in November, months earlier than he planned to step down, after a federal jury found the group and some residential real estate brokers were liable for a conspiracy to artificially inflate brokers’ commissions from home sales. NAR was ordered to pay $1.78 billion in that case.

The NAR Accountability Project released a statement on Kasper's resgination.

"While the NAR Accountability Project strongly believed it was time for a change in leadership at NAR, the circumstances surrounding Ms. Kasper’s resignation are of great concern. No one should be the victim of threats, intimidation or harassment. If that happened to Ms. Kasper, that person should be prosecuted to the fullest extent under the law," the NAR watchdog group wrote.

No further details were provided regarding the specifics of the threat Kasper reportedly received.

Only time will tell what happens to the next NAR president.