As many organizations pull back on their support for diversity, equity and inclusion initiatives, Julia Lashay Israel writes that multicultural trade organizations are stepping in to promote professional development and homeownership for marginalized groups.
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At a time when many organizations are pulling back on their diversity, equity and inclusion efforts, multicultural real estate trade associations play a more significant role than ever before.
Four national multicultural real estate organizations work to address real estate policy issues and to better serve the needs of real estate professionals and our communities.
For real estate brokerages, real estate professionals and local Realtor associations, partnering with these organizations’ local chapters or boards can effectively engage a more diverse membership base and expand perspectives regarding the local real estate market.
Here are some key reasons these associations are important.
Advocacy and policy influence
While many real estate companies focus on diversity, equity and inclusion efforts, most don’t engage in political advocacy. That’s where the multicultural trade organizations come in. These organizations advocate for the interests and concerns of their members at local, regional and national levels.
They strive to eliminate discriminatory practices, promote fair housing, and address diversity, equity, and inclusion issues within the real estate industry. For example, the National Association of Real Estate Brokers (NAREB) has fought for “Democracy in Housing” since 1947.
They work to enhance the professional and business conditions of its members by strengthening the consumer capacity of Black, minority and emerging target market segments. By collaborating with policymakers and industry stakeholders, these organizations can influence policies, regulations and practices to ensure equal opportunities for all.
Educational resources and research
These associations often provide access to educational resources, research studies, market insights, and industry trends specifically focused on multicultural real estate professionals and diverse communities.
Each organization provides a comprehensive report on the state of homeownership that includes statistics on demographics, homeownership rates, and solutions to various homeownership barriers.
The National Association of Hispanic Real Estate Professionals (NAHREP) promotes its mission to advance sustainable Hispanic homeownership by educating and empowering the real estate professionals who serve Hispanic homebuyers and sellers and offer several programs to increase sustainable Hispanic homeownership in America.
By disseminating knowledge and information, these associations enhance the expertise and competence of their members, enabling them to serve their clients better and navigate the ever-changing real estate landscape.
Networking and professional development
These associations facilitate networking opportunities and professional development resources specifically tailored to the needs and interests of their members. They organize events, conferences, seminars, and workshops that foster connections, knowledge sharing, mentorship, and skill enhancement, helping members advance their careers.
With over 18,000 members in 45 chapters across the U.S. and Canada, Asian Real Estate Association of America (AREAA) is the largest Asian American and Pacific Islander (AAPI) trade organization in North America. They continuously connect their members with resources to develop business, personal skills and professional networks.
Representation and empowerment
Multicultural real estate trade associations provide a platform for underrepresented communities within the industry to have a voice and be represented. They empower individuals from diverse backgrounds to actively participate in the real estate profession and contribute to its growth.
The LGBTQ+ Real Estate Alliance was launched in June 2020 by leading real estate industry members. As the newest organization of the major real estate trade associations, they work to advocate, elevate and celebrate. These real estate professionals and allies are just one example of how association members work to create a voice and be heard in real estate.
Community engagement and outreach
Multicultural real estate trade associations actively engage with their communities, both within the industry and the broader public. They organize community outreach programs, affordable housing initiatives, and educational campaigns to promote homeownership, financial literacy, and real estate investment opportunities among diverse populations. By fostering community connections, they contribute to multicultural communities’ social and economic well-being.
Overall, multicultural real estate trade associations significantly create a more inclusive, equitable, and diverse real estate industry. They support the professional growth of underrepresented individuals, advocate for their rights, and facilitate a more comprehensive understanding of multicultural markets and communities.
As the head of inclusion and belonging for Keller Williams Realty International, Julia Lashay Israel advises, trains and coaches leaders, team members and agents to recognize and address diversity, equity and inclusion opportunities and challenges across the organization.