The CEO of the National Association of Realtors is stepping down nearly two months before his planned retirement, a move that comes just two days after the trade group was dealt a punishing judgement in federal court over its guidelines on real estate agent commissions.
The CEO of the National Association of Realtors is stepping down nearly two months before his planned retirement, a move that comes just two days after the trade group was dealt a punishing judgment in federal court over its guidelines on real estate agent commissions.
The Chicago-based NAR said Thursday that Bob Goldberg would be stepping down after a 30-year career at the trade association. Nykia Wright, former CEO of the Chicago Sun-Times, was tapped to take over on an interim basis, beginning Nov. 20.
In June, Goldberg, 66, announced plans to retire on Dec. 31. His early exit comes during a rough week for the NAR. On Tuesday a federal jury in Kansas City, Missouri, ordered the trade association and some of the nation’s biggest real estate brokerages to pay almost $1.8 billion in damages after finding they artificially inflated commissions paid to real estate agents.
The class-action suit was filed in 2019 on behalf of 500,000 home sellers in Missouri and some border towns. The jury found that the defendants “conspired to require home sellers to pay the broker representing the buyer of their homes in violation of federal antitrust law.
