In July 2019, Black American homeownership rates hit a historic low in the United States, impacting neighborhoods and families, school quality, and generational wealth.
Systemic racism has oppressed Black Americans for decades. We’ve seen the direct effects of racist laws and lending policies in real estate. By blocking Black Americans from buying homes anywhere they wanted to live, the government and the real estate industry have both contributed to the social justice issues permeating our country today.
HomeLight believes that every American deserves to own a home. We also believe it is our responsibility to support solutions to end systemic racism in our industry and beyond.
We’re honored to partner with NAREB, the largest and oldest minority professional real estate trade association in the United States, on this program — the first of its kind in the United States.
We created the Black Real Estate Agent Program™ in response to the 2020 social justice movement. According to the latest data from the U.S. Census Bureau, fewer than 6% of all real estate professionals are Black. With this program, our mission is to increase the number of top-producing Black agents in real estate, which we believe will also ultimately help improve the rate of homeownership for Black Americans.
The program provides financial and business support for brand-new Black real estate agents. HomeLight and NAREB will help cover many of the onboarding costs for new agents, including pre-licensing classes, agent exams, and some technology and marketing needs. We’ll pair program participants with an established real estate agent who can serve as a mentor and advisor. In addition, we’ll provide ongoing training and education for new agents above and beyond what they can expect from their brokers.
Who is qualified to apply for the program?
Applications are open immediately. The deadline to complete and submit the full application is Friday, February 26, 2021.
We’re seeking aspiring Black real estate professionals who are:
- Between the ages of 18 and 35
- Interested in a career in real estate, but not currently established as an agent
- Willing to work with a NAREB broker during at least their first year in real estate
- Committed to spending five to ten hours per week working with mentors or on continuing education
- Applicants can be located in any one of the 29 major markets with NAREB Realtist presence
What will the program provide?
Selected applicants will receive up to $5,000 in benefits, including:
- Fees for pre-licensing classes and the licensing exam
- Up to $500 to spend on marketing
- One year subscription to CRM software
- One year of brokerage fees, MLS fees, Association fees, and NAREB dues
- One year of attendance to NAREB conferences
- Continuing education from experts on everything from negotiating contracts to building ads on social media
- A mentor who is well-established in real estate and who can offer support and advice
By sponsoring Black real estate agents and providing them with tools to achieve high-production success, we hope to make a difference in both our industry and diversity in homeownership across the United States. We hope you’ll join us.