Tracy Kasper, the president of the National Association of Realtors, is stepping down from her position after allegedly receiving a blackmail threat.
In a news release published Monday, the real estate trade association said Kasper had informed them about receiving a threat to "disclose a past personal, non-financial matter" unless she "compromised her position" at NAR. While the threat was reported to law enforcement, Kasper said she thought it would serve the association's interests better if she left her post.
"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," she said in the news release.
"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," Kasper added.
Kasper has served on the NAR's board since 2016. She is also the broker-owner of Berkshire Hathaway HomeServices Silverhawk Realty in Boise Valley, Iowa.
President-elect Kevin Sears, a Massachusetts real estate agent, is expected to replace Kasper immediately.
Previous NAR Resignations
It was not immediately clear what the alleged threat entailed. Neither Kasper nor the NAR commented beyond the news release.
Kasper is not the first person to resign from the NAR over the past year. She replaced then-president Kenny Parcell in August after the latter resigned amid sexual harassment allegations, which were first published by the New York Times.
In those complaints, Parcell was allegedly sending lewd photos and texts to current and former NAR employees. He was also allegedly touching workers improperly. Parcell denied the accusations.
In November, NAR CEO Bob Goldberg also resigned two days after a federal jury in Missouri found the association and other real estate brokers liable for artificially inflating commissions from home sales. The NAR was asked to pay $1.8 billion in damages.
READ NEXT: US Real Estate Prediction: Expert Expects Mortgage Rates Decrease in 2024
