The National Association of Realtors’ longtime CEO Bob Goldberg is stepping down from the trade association more than a year before he was set to retire — marking an abrupt end to his 30-year career with NAR.
Goldberg had announced earlier this year he would retire when his contract expires Dec. 31, 2024. He will serve as an executive consultant during the transition, the trade association said in a statement Thursday.
“After announcing my decision to retire earlier this year, and as I reflected on my 30 years at NAR, I determined last month that now is the right time for this extraordinary organization to look to the future,” Goldberg said in the statement.
He did not specify what led him to resign now.
Goldberg “planned to announce his decision to accelerate his retirement on Tuesday but chose to hold off given the news around the outcome of the trial,” a spokesperson for NAR said Thursday, referencing a federal jury’s verdict that NAR and several large brokerages had conspired to artificially inflate commissions paid to real estate agents.
Critics have been pushing for his departure for weeks after The New York Times investigated allegations that former president Kenny Parcell, who resigned from his post in August, sexually harassed current or former employees and members of the Chicago-based organization. The NAR is also facing a series of court challenges that could upend how agents receive commissions on the sale of a home.
Nykia Wright, former CEO of the Chicago Sun-Times and co-founder of SonicMessenger, has been appointed interim CEO, starting Nov. 20.
“NAR advocates for and empowers people who help families across America realize the dream of homeownership,” Wright said in a news release. “I am honored to join the organization at this important moment, when the opportunity to make a difference in the evolving real estate landscape has never been greater. I look forward to getting to work and partnering closely with NAR’s talented staff in the months ahead.”
Wright did not respond to requests for comment.
Wright joined the Sun-Times in 2017 as chief operating officer and became the CEO a year later. Wright, who left the newspaper in January, helped lead its transition to a nonprofit newsroom in 2022 when it joined Chicago Public Media, which operates public radio station WBEZ.
“Her deep experience driving organizational transformation positions her well to advance our strategy, vision and culture initiatives,” NAR President Tracy Kasper said in a news release.
Kasper, a Realtor from Nampa, Idaho, succeeded Parcell in August, though she wasn’t due to take over as president until 2024. At the time of her appointment, Kasper promised to “enhance the way we foster a welcoming, safe and respected workplace.”
Facing headwinds
Last month, a group organized in response to reports of sexual harassment involving the NAR called for Goldberg’s resignation, saying the CEO has swept complaints under the rug. It also called for other changes it said would protect employees and members.
Realtor Jason Haber of real estate firm Compass, who works in Florida and New York, led the effort calling for Goldberg’s ouster. He founded the NAR Accountability Project to press for reforms of what he called the association’s “toxic culture.”
Haber welcomed Thursday’s news of Wright stepping in as interim CEO.
“Over the past few weeks, we’ve seen the worst of NAR, and it’s our hope that she can bring out the best of it,” Haber said.
One of the reforms the NAR Accountability Project sought was the release of women from non-disclosure agreements that don’t involve trade secrets, and Haber said he hopes Wright will consider taking that action.
“Today’s news [of Goldberg stepping down] doesn’t change that there are a lot of women who should be able to speak their truth. And so I would encourage [Wright] as a way to change the culture at NAR, that this would be a huge step in the right direction. We know they have a toxic culture that needs to change.”
In September, the NAR announced it had retained Maggie Hickey, partner at ArentFox Schiff, to lead a task force that will review the NAR’s practices and recommend changes. The task force will help “to prevent inappropriate behavior, encourage reporting of alleged misconduct, and promote an environment of transparency and accountability,” the NAR said.
A spokesperson said Thursday NAR has also “established a new Culture Transformation Commission, which will gather insights from members, local and state association staff, and NAR staff and make recommendations on how we can transform our culture.”
Goldberg’s resignation comes two days after a federal jury ordered the NAR, HomeServices of America and Keller Williams Realty to pay almost $1.8 billion in damages after finding they artificially inflated commissions paid to real estate agents.
The class-action lawsuit was filed in 2019 on behalf of 500,000 home sellers in Missouri and some border towns. The verdict stated the defendants “conspired to require home sellers to pay the broker representing the buyer of their homes in violation of federal antitrust law.”
If treble damages — which allows plaintiffs to potentially receive up to three times actual or compensatory damages — are awarded, the defendants may have to pay more than $5 billion.
“This matter is not close to being final, as we will appeal the jury’s verdict,” NAR spokesperson Mantill Williams said in a statement. “In the interim, we will ask the court to reduce the damages awarded by the jury.”
Williams said it will likely be several years before the case is resolved.
The NAR has 1.5 million members who also are involved with about 1,200 local associations. It has an office in Washington, D.C., and its headquarters at 430 N. Michigan Ave. is also home to the Chicago Association of Realtors, one of its affiliates.
Contributing: David Roeder, AP
