• Wed. Sep 21st, 2022

National Association of Realtors Highlights Five Pillars of Increasing Homeownership in the Black Community

ByWillie M. Evans

Apr 14, 2022

By Special at AFRO

The National Association of Real Estate Brokers (NAREB), an organization established in 1947 to ensure the right to equal housing opportunity regardless of race, creed or color, celebrated “Pillars of the REALISTIC change”. This event honors the work of its 90 local chapters in 33 states who are working collaboratively to overcome structural barriers that can prevent black families from buying homes in communities across the country.

Over the past week, NAREB Chapters have been strategizing on ways to advance their Five Pillars, the priorities that guide their mission to increase Black homeownership. Membership in the 75-year-old organization includes residential and commercial real estate agents and brokers, loan officers, mortgage brokers, title companies, appraisers, insurance agents and developers.

“Inequality in homeownership is a difficult chapter in America’s history, and we must never lose sight of the challenging environment in which we continue to operate,” said NAREB President, Lydia Pope. “By helping to remove the barriers that continue to discourage millions of Black Americans from achieving their dreams of homeownership, we are taking action to ensure our communities, our states, and our nation are stronger and fairer than ever. .”

The five pillars are:

Confessional and civic engagement

More than 75% of black Americans polled by Pew Research said they were affiliated with a religious organization in their respective community. A large percentage of professional black Americans belong to a civic or professional organization.

Therefore, NAREB’s relationship with faith-based and civic institutions enables the association to target Black American consumers nationwide to: (1) educate our audience about homeownership and (2) incentive to buy real estate. NAREB’s strategic relationships and MOUs will be nurtured under this pillar.

Women’s initiatives

Women Investing in Real Estate (WIRE) NAREB has identified black women as a consumer group with high target market potential to reach and penetrate to focus their attention on buying power to invest in real estate, pursue the home ownership and develop the career of existing practitioners in real estate.

WIRE will focus on developing effective educational tools and techniques for black women consumers as well as black women real estate professionals. Specifically, the goals of the initiative are to: Increase access to financial information and capital for Black women; Increase home ownership and real estate investment for Black women as well as the development of affordable housing for and by Black women.

Diversity and Inclusion or Small Business

The majority of NAREB members are small businesses that qualify for most diversity and inclusion initiatives. We will focus our attention on educating and informing NAREB members about the income generation opportunities available through minority certifications and minority procurement opportunities.

This initiative will also focus on building leadership skills, business development and mentoring. Equally important, NAREB will return to our communities to serve on local boards and commissions to add our expertise regarding the housing needs in our communities and to inspire the next generation of real estate entrepreneurs by participating in college and high school career. school campuses.

Lydia Pope is the president of NAREB, whose chapters
defined ways to advance their push in five pillars,
aimed at combating the barriers that affect black people
home ownership. (Courtesy picture)

Creation of multigenerational wealth

NAREB understands that wealth creation concepts, plans and execution must be approached on a multi-generational basis. In this regard, NAREB has developed age and lifestyle specific initiatives to reach and educate the public on wealth creation and home ownership.

NAREB initiatives include: (1) the NAREB Youth Leadership Academy, (2) the NAREB Millennial Movement – which focused on Gen Z and millennial consumers, and (3) efforts to inform seniors on key elements to prepare for and retain inherited wealth.

Government Relations / Advocacy

Over NAREB’s rich history, barriers to home ownership have been identified, addressed and eliminated based on the association’s commitment to advocating for equality and opportunity in our profession. and for black Americans seeking homeownership of their own. NAREB will always use its powerful voice to support supportive legislation or regulatory changes designed to increase Black home ownership.

Through our State of Housing in Black America (SHIBA) report and our monthly SHIBA bytes, NAREB will continue to educate, inform and share with our members, elected and elected officials, our community and its organizations on the homeownership needs of Black Americans and its importance in creating wealth and strengthening communities.

Miranda Morrow-Bartell, Chair of the Pillars of REALISTIC Change Week, credits local council members for successfully addressing all five pillars. “With the help of our local board members and their unwavering commitment to housing equity, our week-long program promises to be an important catalyst for positive action,” he said. she stated.

About the National Association of Realtors

NAREB was established in 1947 to ensure the right to equal housing opportunity regardless of race, creed or color. NAREB has advocated for legislation and supported or initiated legal challenges that ensure fair housing, sustainable homeownership, and access to credit for Black Americans. Simultaneously, NAREB advocates and promotes access to business opportunities for Black real estate professionals in each of the real estate disciplines.

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