Katie Johnson: A Chief N.A.R Legal Officer Resigns

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Katie Johnson is set to resign

As the chief legal officer of the National Association of Realtors®, Katie Johnson has played a pivotal role in shaping the legal landscape of the organization. After a remarkable 17-year tenure, Katie Johnson will officially step down on October 4. In an email to N.A.R members, CEO Nykia Wright expressed deep gratitude for Katie Johnson’s steadfast commitment to expanding homeownership access for all Americans. “Katie Johnson has made invaluable contributions to our mission,” Wright noted.

As Katie Johnson departs, members can direct legal inquiries to N.A.R’s general counsel, Lesley Muchow, and any membership experience concerns to Kate Moore. N.A.R is prioritizing business continuity during this transition, focusing on developing a comprehensive strategy for ongoing litigation and assessing potential risks in current policies. Katie Johnson’s departure marks a significant change for N.A.R, but the organization is prepared to adapt.

To ensure a smooth transition after Katie Johnson’s resignation, N.A.R will be hiring outside counsel dedicated to risk assessment, ensuring the organization remains resilient amid significant industry changes. Katie Johnson‘s impact over her tenure will undoubtedly leave a lasting legacy as the National Association of Realtors® navigates its future.

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Fathom Holdings Secures $5M to Boost Growth and Expansion

Fathom Holdings Inc., a leading technology-driven real estate services platform, has announced a significant move to accelerate its agent and transaction growth through a $5 million convertible note private placement.

Under a recently signed securities purchase agreement, Fathom issued senior secured convertible promissory notes to an existing shareholder, who holds over 5% of the company’s common stock, and the chairman of its Board of Directors.

The notes will carry interest payable quarterly starting October 1, 2025, with a fluctuating rate tied to the monthly average Secured Overnight Financing Rate, plus a 4% annual margin, subject to a minimum of 8%. With a conversion price set at $4.25 per share, the notes offer an initial premium of approximately 85% above Fathom’s last reported stock price on September 26.

Fathom CEO Marco Fregenal emphasized the importance of this capital injection, stating, “This allows us to fast-track our plans for growth, focusing on targeted walkovers and acquisitions. The demand for our revenue share model showcases our momentum and reaffirms shareholder confidence.”

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Top Australian Realtor Roger Agha Banned for Client Sabotage

In Global news, high-profile Australian real estate agent Roger Agha has been banned for at least a year after “sabotaging” his former employer’s client database.

In 2019, the NSW Supreme Court found that Agha altered the phone numbers of over 900 clients at Devine Group just before he planned to launch a competing agency. He siphoned customers to Belle Property after refusing to sign an agreement that included a three-year restraint of trade for his shares.

The court noted Agha’s actions were “opportunistic and improper,” highlighting that he used confidential information despite believing he had the right to do so. The tribunal concluded that Agha had indeed taken clients from Devine to Belle, contradicting his claims of innocence.

Agha, who denies altering the data, has announced plans to appeal the decision. Meanwhile, Steven Devine, the principal of Devine Group, expressed relief at the tribunal’s ruling, stating the ordeal has taken a significant toll on his family over the past seven years.

The case, which has been ongoing since 2018, will return to the NSW Supreme Court on October 21 as both parties continue to seek costs.

This ruling underscores the need for accountability in the real estate industry, as the tribunal aims to uphold ethical practices among agents.

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