CEO of Largest US Trade Association Announces Retirement
The CEO of the National Association of Realtors (NAR), Bob Goldberg, has announced his early retirement. After decades of service and leadership, Goldberg will be stepping down and will be replaced by an interim chief.
Nykia Wright, former CEO of the Chicago Sun-Times, has been appointed to temporarily lead the organization until a permanent CEO is found to succeed Goldberg.
Tracy Kasper, president of the NAR and a real-estate agent based in Nampa, Id., expressed gratitude for Goldberg's contributions in a statement: "We are immensely grateful for Bob's leadership and decades-long service to NAR. It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement. His contributions to our association and our industry have been tremendous."
Goldberg had initially planned to retire in June of this year, but after reflection on his 30 years at NAR, he decided that now is the right time for the organization to look towards the future.
This leadership change at NAR comes at a crucial time for the real estate industry, as potential changes are on the horizon. Antitrust lawsuits have prompted scrutiny of longstanding practices, including the structure of agents' commissions and control over the Multiple Listing Service (MLS), where most homes are listed for sale.
Coinciding with Goldberg's departure, a Missouri jury recently found the NAR, HomeServices of America, and Keller Williams guilty of conspiring to artificially inflate agents' commissions. Currently, agents receive a commission of 3% of the sale price in most home transactions. However, this verdict may pave the way for changes in how commissions are paid.
The lawsuits are still ongoing, and it remains to be seen what impact they will have on the real estate industry as a whole.
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