Black real estate agents across the nation are providing clients with guidance as they navigate an industry with longstanding discrimination that still affects home buyers and sellers, while representing an emerging trend of inclusion and excellence within it.
Although their incomes may fall behind those of White brokers, African-American brokers and their clients still face many significant hurdles that can prove life-threatening.
They’ll Make You Feel Comfortable
Real estate transactions can be one of the largest financial decisions of your life and can be stressful. Working with an agent who understands your perspective is essential in making sure you feel comfortable and confident throughout the process; working with a Black real estate agent will make this task much less daunting, and they’ll ensure you understand every step along the way.
Black real estate agents can also help you avoid common errors made when buying or selling a home, like not noticing problems that need fixing in neighborhoods with high crime rates or no good schools. Furthermore, they will assist with finding you the most appropriate mortgage loan possible while guiding through the complicated financing process.
An African-American real estate agent can also be invaluable when it comes to mitigating discrimination’s adverse effects. Unfortunately, many still fall prey to anti-Black racism in real estate despite N.A.R.’s apology in 2020 and subsequent implementation of their ACT Initiative which holds bad actors accountable. A 2021 study demonstrated that Black and Latino homeowners are approximately twice as likely as others to receive low appraisals which has serious ramifications on their ability to sell or purchase homes.
As much work remains, Black real estate agents are making strides forward. Pamela Chambers, a Tucson broker who recently boasted only two Black agents out of an estimated 500 total agents (herself and an ex-husband), started a mentorship program to diversify her brokerage. She’s also encouraging friends to enter the field by purchasing Groupon real estate courses or starting their own independent brokerages.
Note, however, that in order to practice real estate brokerage is required by brokers. They typically don’t permit people to leave their ranks; unlike in other professions where doctors or lawyers can easily acquire a license and set up shop independently as independent practitioners. Thus you may not see too many Black independent realtors, even in cities with plenty of Black residents.
They’ll Understand and Sympathize With Your Struggles
Black Americans have long made strides in the real estate industry, from activism to entrepreneurship. These pioneers set an excellent standard within this sector and many have made important contributions to their local communities.
Though real estate has proven lucrative for Black professionals, its challenges still exist. Many of them must contend with discrimination due to race while fighting for recognition and respect from colleagues. Luckily, there are ways Black professionals can overcome such struggles and succeed within this industry.
One effective strategy for overcoming challenges associated with real estate careers is building strong networks among fellow professionals. Doing so will allow you to form a supportive environment that helps advance your career; in addition, join groups and organizations dedicated to the advancement of Black people within real estate.
Formation and membership in real estate groups can help give you a sense of community within the industry. Many organizations offer mentorship programs for new real estate agents. Furthermore, resources and training programs may help your success as an agent.
Establish a solid network by becoming an active member of the National Association of Realtors (NAR). Joining this organization can connect you with like-minded professionals that can support and advise on building your business; you’ll also gain access to up-to-date mortgage and home loan information.
NAREB is taking several initiatives to aid Black real estate agents. HomeLight and NAREB have joined forces to provide financial and business support for new Black agents who enter the industry, with hopes that this initiative can close racial disparities in home ownership that have serious ramifications on communities. Participants of the program will also be connected with established NAREB agents as mentors/advisors; hopefully NAREB hopes this program will increase Black presence and make real estate an inclusive industry.
They Can Help You Mitigate the Effects of Discrimination
Even though real estate remains predominantly white, Black people have made strides toward success within it. Their achievements provide inspiration to others seeking to enter this field; yet even among established agents discrimination remains present both subtly and overtly; here are some ways Black agents report experiencing discrimination that impacts both their work and client lives.
Brokers – who often serve as gatekeepers to homes – have long been implicated in segregation and discrimination since prior to fair housing laws being enacted. The National Association of Realtors (NAR) apologized in 2020 for supporting discriminatory housing policies; its ACT Initiative now seeks to hold bad actors accountable; but these efforts can only go so far against anti-Black racism that pervades society.
Black real estate agents report that earnings disparity remains in their industry despite home prices declining and commission rates increasing significantly, leaving most Black agents without enough income to afford their own homes or live with racial equity.
Additionally, some agents allege that brokerages unfairly favor white agents with higher pay and benefits, leading to discrimination. Pamela Chambers states that when showing houses to prospective buyers, some owners and their agents stereotype her as an uppity African American woman unqualified to own one of these properties – an experience she finds uncomfortable so she makes sure to wear her company badge when showing homes in neighborhoods where such stereotypes may exist.
Other Black agents have reported that non-Black listing agents often don’t respond to their calls, or require them to go through hoops — such as providing proof of funds or ID — in order to view properties. Furthermore, some listings are even explicitly marked “not available to black people”.
Still, many Black agents remain optimistic about the industry’s prospects. Already they’re creating mentoring programs and affinity groups; purchasing real estate courses – for as little as $67 on Groupon! — for their Black friends so as to encourage them to enter real estate; while NAREB recently collaborated with real estate platform HomeLight on creating the Black Real Estate Agent Program to offer financial and educational support to aspiring Black agents.
They Can Help You Find the Right Home
Home buying or selling can be an emotionally exhausting process, but working with a Black real estate agent can make the experience more relaxing. They understand your perspective better and will likely answer all your questions while walking you through each step of the process.
Black real estate agents can make the home search process comfortable and stress-free by helping you locate the ideal house or apartment. They’ll take the time to learn your needs, listen to your concerns, and guide you through navigating the housing market. Furthermore, they have connections with lenders and mortgage brokers and can negotiate the terms of any loans for you.
One of the primary obstacles Black real estate agents encounter is discrimination. Unfamiliar people may make racist comments and jokes that are offensive to them, as well as engage in racist profiling during open houses and marketing activities.
Real estate agents from Black backgrounds are taking proactive steps to combat racism while simultaneously encouraging more Black people to enter the industry. They do so by sharing their success stories online and participating in diversity, equity, and inclusion efforts through local National Association of Real Estate Brokerages chapters.
Another way they are fighting discrimination is by not advertising their racial identities and discussing any racial injustices they encounter; Fee Gentry, a Black real estate consultant from Austin, Texas reported an instance in which a white couple hired her as their real estate consultant but refused to display her photo on their lawn sign.
Black real estate agents continue to excel despite these difficulties, closing the racial homeownership gap while working toward inclusion of more people of color into home buying and selling processes. NAREB and HomeLight have come together to establish the Black Real Estate Agent Program which will offer financial and business support for newly appointed black agents.