Las Vegas Realtors president refuses to resign after board vote
The president of the Las Vegas Realtors has refused to step down after a vote asking for his resignation narrowly passed, according to multiple sources.
The vote before the trade association’s board of directors passed 6-to-5 last week, according to multiple sources who spoke to the Las Vegas Review-Journal on condition of anonymity because of concerns over potential retaliation. President George Kypreos was asked to resign in the wake of his brokerage, GK Properties, which recently merged with Signature Real Estate Group, being named in a recent class-action lawsuit against Zillow. Kypreos is also a Zillow flex agent.
Kypreos declined to comment on the vote to the Review-Journal through a spokesperson. Kypreos became the president of the trade organization in early 2025 after two past presidents’ sudden departures and is slated to remain president through 2026.
The lawsuit alleges Zillow’s “anticompetitive” tactics towards homebuyers and sellers has driven up home prices across the country and the suit, filed in U.S. District Court in Seattle on Nov. 19, alleges Zillow employs “predatory practices” in helping potential homebuyers find properties, including hidden fees, “tricking” them into signing with a Zillow agent and monetizing every step of the home buying process.
A Henderson resident and a California resident who recently purchased a house in Las Vegas are among the plantiffs in the case. They allege Zillow steers potential homebuyers through a process that starts on its website and pushes them toward Zillow flex agents. What the buyer or seller also doesn’t know, the lawsuit alleges, is 40 percent of that agent’s commission goes to Zillow through a backend deal.
Controversy continues at Las Vegas Realtors
LVR has been embroiled in controversy for well over a year.
Multiple members of LVR filed formal complaints against the trade association with the Nevada attorney general’s office in November of last year, the Review-Journal previously reported.
They asked Aaron Ford’s team to investigate LVR members and staff over tampering allegations in the organization’s 2024 board of director’s election, according to several agents who spoke to the Review-Journal.
More than 50 members of the LVR in August 2024 protested some still serving on the board of directors despite being investigated internally and by a third party in connection with election tampering allegations. Agents who spoke to the Review-Journal said LVR Chief Executive Officer Wendy DiVecchio tampered with the election and conspired to help Britney Gaitan win the vice president seat on the board over Stephanie Grant.
DiVecchio was suspended for 30 days due to allegations. She was later fired from her role.
Law firm Greenberg Traurig was hired to conduct a third-party investigation into the allegations of election tampering, but the report has yet to be made public.
A fight also broke out between two members of LVR during a March 2024 board meeting, which led to a police response.
The LVR has approximately 15,000 members and wields its power through access to the Multiple Listings Service, where the majority of homes are listed for sale. Monthly fees for LVR membership can run upward of $260 a year while signing confidentiality policies regarding board meetings, which are held monthly.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.
