In a shocking turn of events, Bob Goldberg, the Chief Executive Officer (CEO) of the National Association of Realtors (NAR), announced his resignation on Thursday. This comes just days after the real estate group was found liable for conspiring to inflate real estate agent commission rates, resulting in a staggering $1.8 billion in damages.

The verdict was delivered by a federal jury in Missouri, who determined that NAR, along with two brokerages, had engaged in a conspiracy to artificially keep real estate agent commissions high. This revelation has sent shockwaves through the real estate industry and has tarnished the reputation of the nation's largest trade association.

This scandal is just the latest blow for the NAR, which has been facing a series of setbacks recently. In August, the association's president, Kenny Parcell, resigned amidst allegations of sexual harassment. Additionally, earlier this month, Redfin, a prominent real estate company, withdrew its membership from the NAR, further highlighting the growing discontent within the industry.

To address these challenging times, Nykia Wright, the former CEO of the Chicago Sun-Times, has been appointed as the NAR's interim CEO, effective from November 20th. This decision aims to bring fresh leadership and stability to the organization during this period of turmoil.

"We are delighted to welcome Nykia as interim CEO," said NAR President Tracy Kasper, a real estate agent from Nampa, Idaho. "Her experience and expertise will be invaluable as we navigate through this challenging time and strive to rebuild trust within our industry."

The NAR is a powerful non-profit organization with significant assets amounting to over $1 billion. It is responsible for representing and supporting over 1.5 million member real estate agents and housing industry employees nationwide. The association holds a trademark on the title of "Realtor," emphasizing its dominant position within the real estate sector.

In his statement, Goldberg, the outgoing CEO, revealed that his decision to step down was made in October. "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.

As the NAR grapples with the aftermath of this damning verdict, industry insiders and members are left wondering what lies ahead. The appointment of Nykia Wright as interim CEO is seen as a step towards rebuilding trust and addressing the challenges that lie ahead. It remains to be seen how the NAR will navigate its way through this difficult period and regain the confidence of its members and the real estate community at large.