National Association of Realtors President Tracy Kasper has resigned following a threat made against her, the trade group said Monday.
“Kasper informed NAR’s Leadership Team that she recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR,” NAR said in a written statement. “She refused to do so and instead reported the threat to law enforcement. Ms. Kasper felt that, in the circ*mstances, it was best for the organization that she step down. 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.”
NAR did not disclose who made the threat or what specifically they intended to disclose in the blackmail attempt.
The scandal-plagued trade group appointed President-elect Kevin Sears to step into Kasper’s role effective immediately.
“As president and a long-time member of NAR, I always have put the interests of NAR first. 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,” Kasper said in a statement. “So, it is with a mix of gratitude and a heavy heart that I submit my resignation as your president effective immediately. In doing so, it gives our Leadership Team the ability to take the reins and forge forward in effecting the change that we all have worked so hard over the past few months to begin. I know I leave our members, our staff and our association in good hands.”
Kasper, a Realtor from Idaho, stepped into the spotlight following the resignation of former NAR President Kenny Parcell, who quit amid a sexual harassment scandal at the 1.5 million-member trade group. Other departures include Bob Goldberg, the CEO, who left following the $5.3 billion verdict in the Sitzer-Burnett commission trial; and Donna Gland, who led human resources.
“While the NAR Accountability Project strongly believed it was time for a change in leadership at NAR, the circ*mstances surrounding Ms. Kasper’s resignation are of great concern,” said Jason Haber, an NAR critic who leads the activist group.“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.”
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NAR President Tracy Kasper. The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to “compromise” her leadership role.
Why did Tracy Kasper resign from NAR? ›
Tracy Kasper, the president of the National Association of Realtors, abruptly resigned from her position after receiving a blackmail threat, the organization announced Monday, leaving the country's largest real estate association to navigate the fallout from legal challenges and a sexual harassment scandal with its ...
Did the president of the NAR resign for blackmail? ›
NAR President Tracy Kasper claims someone was threatening to disclose a past personal matter unless she resigned. The president of America's largest trade association is stepping down after allegedly receiving a blackmail threat.
Did the new Realtors Association president resign after blackmail threat? ›
Bloomberg —The president of the National Association of Realtors, Tracy Kasper, is stepping down after she said she received a threat and reported it to law enforcement.
Did the National Association of Realtors president resign after receiving threat to disclose personal matter? ›
National Association of Realtors President Quits Over Alleged Blackmail. Tracy Kasper stepped down after receiving “a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR,” the organization said.
What happened to the president of NAR? ›
The Chicago-based organization said Monday that NAR president Tracy Kasper has resigned, effective immediately, and is being succeeded by the trade group's president-elect, Kevin Sears.
Who is the current president of the NAR? ›
The National Association of REALTORS® announced Monday that Kevin Sears has stepped into the role of NAR president following the resignation of 2024 President Tracy Kasper.
What is the National Realtors Association scandal? ›
On October 31, 2023, a jury verdict in Burnett v. The Nat'l Association of Realtors awarded $1.8 billion in damages to Missouri home sellers. The Plaintiffs in this case alleged the NAR conspired to keep real estate commissions inflated. The NAR is one of the largest trade associations in the United States.
How does the NAR settlement affect buyers? ›
Under the new rules, commissions for buyer agents can't be listed on the MLS. Meanwhile, buyers would need their own agreement that specifies compensation before they work with an agent.
What is the blackmail amendment? ›
Under California Penal Code Section 518 PC, extortion (commonly referred to as "blackmail") is a criminal offense that involves the use of force or threats to compel another person into providing money or property, or using force or threats to compel a public official to perform or neglect an official act or duty.
Blackmail or extortion under Title 18 of the United States Code, Section 873 is a federal crime punishable by: up to one year in federal prison, a fine, or both imprisonment and a fine.
Who investigates blackmail? ›
Generally, the law enforcement officers in a local area should investigate the matter.
Can a client of a realtor have dispute with the realtor resolved through arbitration? ›
In the event clients of REALTORS® wish to mediate or arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall mediate or arbitrate those disputes in accordance with the policies of the Board, provided the clients agree to be bound by any resulting agreement or award.
What is the National Association of Realtors lawsuit about? ›
The key issue in the lawsuits was the practice of “tying,” whereby NAR members require that commissions paid to buyers' agents be set by the seller's agent when a home is listed.
How old is the Realtor Code of Ethics? ›
The Code of Ethics of the National Association of Realtors® was first adopted on July 29, 1913, at the sixth Annual Convention of the National Association of Real Estate Exchanges (Association's name changed in 1916 to National Association of Real Estate Boards and again in 1974 to National Association of Realtors®).
