In November of last year, the Chief Executive Officer of the National Association of Realtors (NAR) unexpectedly stepped down several months before his scheduled retirement. Just as the organization was overcoming this development and preparing to move forward, the president has now resigned as well. The reason behind her resignation is the threat of blackmail.
The National Association of Realtors (NAR) made an announcement on January 8, confirming the immediate resignation of its president, Tracy Caspar. According to the statement, Caspar decided to step down when faced with a threat to reveal a personal, non-financial matter from her past unless she misused her position at the NAR. Although the details of the threat and the blackmailer’s demands were not disclosed, Caspar chose not to comply and promptly reported the incident to the police. In her personal statement, she emphasized her prioritization of the NAR’s interests by resigning.
In the span of three months, Tracy Caspar becomes the third high-ranking official of the National Association of Realtors (NAR) to resign. Her predecessor, Kenny Parcell, stepped down in August following media reports of sexual harassment allegations from NAR members and employees. As Kasper had already been elected to succeed Parcell, she assumed the role ahead of schedule.
The CEO, Bob Goldberg, originally scheduled to retire in January, opted to resign in November. Following his departure, the NAR appointed a former CEO of the Chicago Sun-Times as an interim replacement. It is probable that Goldberg’s decision to leave coincided with a Missouri federal court ruling, which found the NAR and prominent real estate brokers guilty of distributing billions of dollars in inflated commissions. This ruling exposed the organization to significant claims for damages.
Presently, Tracy Caspar has also resigned, and her position has been assumed by Kevin Sears, a real estate broker from Massachusetts. The succession of changes in leadership at the helm of a national organization boasting over 1.5 million members is notably turbulent, particularly considering recent legal accountability for channeling home-buyers’ funds to its members. The NAR states its commitment to safeguarding the organization’s integrity, but the credibility of the organization has already suffered a blow.
