Last updated: January 9, 2024 at 10:27 AM ET
First Published: January 8, 2024 at 2:52 PM ET
The president of America's largest industry group is stepping down after just a few months in office.
NAR announced Monday that Tracy Kasper, president of the National Association of Realtors, is retiring from the association and will be replaced immediately by incoming president Kevin Sears.
Kasper had reported to its leadership that…
The president of America's largest industry group is stepping down after just a few months in office.
NAR announced Monday that Tracy Kasper, president of the National Association of Realtors, is retiring from the association and will be replaced immediately by incoming president Kevin Sears.
A statement from NAR said Kasper had “recently informed management that he had received threats to disclose past personal, non-financial matters unless it jeopardized his standing at NAR.”
The group said Kasper “refused to do so” and reported the threat to law enforcement.
However, “Ms. Kasper felt that it was in the best interest of the organization for her to resign under the circumstances,” NAR added. “The leadership team is deeply concerned about any attempts to undermine its governance and, as a result, is taking steps to protect the integrity of the organization.”
Kasper had just taken office in late August 2023, following the resignation of former President Kenny Purcell. Purcell resigned after the New York Times published an investigation into allegations that he sexually harassed multiple women at NAR.
This is the third high-profile resignation NAR has faced in the last year. Purcell's departure was followed by the early retirement of his CEO from the organization, Bob Goldberg.
The confusion at NAR stems from legal disputes over long-standing practices between NAR and real estate agents, including how they structure agent commissions and manage the multiple listing service, where most homes are listed for sale. It's happening in the face of scrutiny.
Kasper also spoke about his decision to step down. “Given the importance of this moment for myself, my family, and the organization as a result of recent threats, it is time for him to once again put NAR's interests first,” Kasper said.
“Therefore, it is with a mixture of gratitude and heavy hearts that I immediately tender my resignation as President of your company,” she added.