On Monday, Tracy Kasper, the president of the National Association of Realtors, announced her resignation, citing a blackmail threat aiming to “compromise” her leadership position.
She informed the organization’s leadership team about a recent threat she received, aiming to expose a personal, non-financial matter from her past unless she compromised her position as NAR president.
She refused to comply and reported the threat to law enforcement. Feeling it was in the organization’s best interest, Kasper chose to step down under the circumstances.
The leadership team is highly concerned about any effort to weaken its governance and is consequently working to safeguard the organization’s integrity.
Ms. Kasper stated, “As president and a long-time member of NAR, I always have put the interests of NAR first.”
However, she added that the recent threat significantly affected her, her family, and the organization she serves. She believes putting the organization’s interest before her was appropriate.
Hence, she announced her resignation as NAR president effective immediately. She further said that it is to allow the leadership team the ability to hold the fort and spearhead the change they have all been working hard for over the past months.
In response, NAR said that it values Kasper’s service and her years of commitment to the association, especially her dedication to advocating for homeownership for everyone.
NAR issued a statement saying, “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 chose not to provide further comments beyond its initial statement.
Kevin Sears, the President-elect, will promptly assume the position at the organization, representing over 1.5 million members engaged in residential and commercial real estate sectors.
Sears, a realtor based in Springfield, Massachusetts, is the current president of the National Association of REALTORS. He also works as a partner and broker at Sears Real Estate. The agency specializes in single-family brokerage and property management.
Sears has demonstrated his commitment to the association with various roles in NAR, including serving as a President’s Liaison in 2019 and Vice President of Government Affairs in 2017.
Since 2004, Sears has been acknowledged as an RPAC Major Investor and has maintained his status as a “Golden R” investor and a member of the President’s Circle since 2007. He is honored to be inducted twice into NAR’s RPAC Hall of Fame.
Additionally, he has a history of serving as the long-term Federal Political Coordinator to Bay State Congressman Richard Neal (D-Springfield).
To recap, Kenny Parcell, Kasper’s predecessor, stepped down in August, just two days after The New York Times released a story outlining allegations of sexual harassment from women he collaborated with.
Following a federal jury’s ruling, Bob Goldberg, NAR CEO, also resigned in November, well before his intended departure date.
The jury found the group and certain residential real estate brokers guilty of artificially conspiring to inflate home sales commissions. As a result, NAR was instructed to pay $1.78 billion in damages in that particular case.
The New York Times recently reported that the NAR’s executive committee had implemented a lifetime ban on any elected NAR officer who resigned or was removed from office from attending group events. They applied this ban to Parcell and now to Kasper.
Kasper is the broker-owner of Berkshire Hathaway HomeServices Silverhawk Realty in Boise Valley, Idaho. Her NAR bio indicates that she is also the primary owner of two additional real estate companies in the state.
Kasper is a grandmother of six and has been a part of NAR’s board since 2016.