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Bob Goldberg; the National Association of Realtors in Chicago, Illinois.
Barron’s Staff Illustration; PR Newswire; Dreamstime
Bob Goldberg, chief executive officer of the National Association of Realtors, is leaving his post before a planned retirement at the end of the year, the trade group said Thursday. The shakeup comes two days after a federal jury reached a verdict that the Realtors association had conspired with brokerages to inflate commission fees—a ruling that could upend how the housing market operates.
The trade group announced Goldberg’s departure in a press release on Thursday. Nykia Wright, who was formerly CEO of the Chicago Sun-Times, will replace Goldberg on Nov. 20. Goldberg will remain at the trade group as an executive consultant, the Realtors group said.
A jury in Missouri found that the trade group and several brokerages conspired to enforce a rule on buyers’ agent commissions that resulted in sellers paying excessive fees to brokerages. The verdict has the potential to change the way fees are paid, homes are sold, and how the housing market operates—though the defendants are expected to appeal. The jury awarded $1.79 billion in damages to home sellers in the class-action lawsuit.
Goldberg in June announced his planned retirement, the trade group said. The group didn’t address the litigation in its release, and couldn’t be immediately reached for further comment.
“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 release.
Write to Shaina Mishkin at [email protected]
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