NAR President Accused of Sexual Harassment, NAR Lawsuit, Redfin Stock Plumped

NAR President Accused of Sexual Harassment: The National Association of Realtors was accused of several allegations including a pattern of inappropriate behavior and sexual harassment made by multiple women, who worked the N.A.R.

NAR President Accused of Sexual Harassment

Redfin, a Real estate company, is ending relations with the National Association of Realtors. Last year in August, The New York Times published an article claiming NAR’s format president was found guilty of sexual harassment conduct within the group.

Multiple women accused the organization’s former president, Kenny Parcell, of harassment and sexually inappropriate behavior with them conduct by Mr. Parcell, according to the New York Times.

NAR later confirmed Kenny’s resignation after just two days of the news. In an interview, he denied all his accusations and wrote in a letter to N.A.R.’s executive committee and board of directors.

”My resignation comes after a series of accusations against me that are categorically false, I am deeply troubled by those looking to tarnish my character and mischaracterize my well-intended actions.”

NAR Lawsuit

Despite the ongoing Commission lawsuits and growing outrage against (NAR) the National Association of Realtors, Redfin leadership said it was not a sudden decision.

“We’ve had many meetings with NAR execs to explore compromises on the policies that would let us continue our support, Redfin leader, Glenn Kelman wrote that the company has paid over $13 million in NAR since it joined in 2017. 

Mantill Williams, Vice President of public relations and communications at NAR, said through a prepared comment that the organization respects Redfin’s decision but stands by its policies. “Redfin told us in June they were planning to separate from NAR, and we respect their choice to do so,” he added.

“The U.S. model of local MLS broker marketplaces has long been — and still is — considered the best value in the world. NAR stands by its pro-consumer, pro-competitive guidance for affiliated local broker marketplaces that ensure equity, efficiency, transparency, and market-driven pricing options for home buyers and sellers.”

Redfin is going to end our support of the National Association of Realtors for two primary reasons, NAR policies require a fee for the buyer’s agent on every listing and a pattern of alleged sexual harassment.

Redfin Stock Plumped

Seattle-based real estate company Redfin was founded by David Eraker in October 2002. In the company, there are 5,572 employees across the Seattle, Washington, United States. As of 2022, the company collected 228.4 crores of USD revenue.

Analyst, Tom White recently wrote, “Our analysis indicates that [Redin’s] share of all U.S. for-sale home listings is currently 0.29% (3,483 RDFN listings vs. 1.18M total U.S. for-sale home listings), up from the 0.26% we last reported in early July and the 0.24% we tracked in late May.”

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