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5 Top Black Real Estate Associations in the United States
Black home ownership in the U.S. has been an issue of contention for a long time due to factors like racism and discrimination.
Data from 2022 showed that 74.6% of White households owned their homes, compared with 45.3% of Black households.
![Real estate properties] (https://cdn.sanity.io/images/eydex0le/production/5e14f439ed6503e1737108c9d5ea6bbdf161bafa-612x392.png)
With more representation in the real estate industry and the support from the Black real estate associations, Black home and property ownership can go up and more African American professionals can actively participate in the commercial and residential real estate industry.
Key Points
- A real estate association is a professional organization that is made up of real estate professionals with the purpose of providing education, trainings and promoting ethical and professional practices within the real estate industry
- Some of the roles that real estate associations play include; to promote professionalism, education, and advocacy in the industry
- Black professionals in the real estate sector can enjoy benefits like enhanced credibility, positive involvement in the community and great networking opportunities by being members of Black Being real estate associations
Disclaimer
The contents of this article are for educational purposes only. They are not intended to be a source of professional financial advice. You will find experts on financial planning, financial management, and real estate here. More on disclaimers here.
What is a Real Estate Association?
A real estate association is a professional organization that is made up of real estate professionals - agents, brokers, salespeople, property managers, etc. with the purpose of providing education, trainings, lobbying the government, networking opportunities, offering support to its members and promoting ethical and professional practices within the real estate industry.
Many associations also have political action committees that advocate for the industry and represent the interests of real estate professionals at the local, state and national level.
Currently, the National Association of Realtors (NAR) is the largest real estate association in America with 1.5 million+ members.
The Role of Real Estate Associations in the U.S.
Real estate associations play a crucial role in the U.S. real estate industry. Here are some of the important roles that they play.
Education and Training
Real estate associations provide their members with access to education and training programs. This helps real estate professionals stay up-to-date with industry changes, trends and best practices. Continuing education is important for maintaining a real estate license, and many associations offer courses that fulfill state-mandated education requirements.
Professional Standards
Real estate associations establish and enforce professional standards for their members. This includes a code of ethics that members are required to follow. By promoting ethical and professional conduct, associations help to maintain the integrity of the real estate industry.
Political Advocacy
Real estate associations advocate for their members' interests at the local, state and national level. They work to influence legislation that impacts the real estate industry, and they support political candidates who share their views.
Networking
Real estate associations provide opportunities for members to network with each other, build relationships and share information. Networking can lead to new business opportunities, referrals and collaborations.
Industry Research
Real estate associations conduct research on industry trends, market conditions and consumer behavior. This information is useful for real estate professionals who are trying to stay informed about the industry and make informed business decisions.
Benefits of Black Real Estate Professionals Joining a Black Real Estate Association
If you're a Black professional working in real estate, here are some reasons why you should consider joining a Black real estate association, in case you haven't already.
Enhanced Credibility
By being a part of a Black real estate association, your perceived credibility in the market goes up as you're a part of a reputable organization. This can result in more business and trust especially for newer agents regardless of whether your specialty is in the residential or commercial real estate industry .
Networking Opportunities
Black real estate associations can provide you with opportunities to interact with other professionals in the industry. This can help you connect with other agents, investors and real estate professionals and build long term relationships. This can in turn lead to new business opportunities, collaborations or referral business from your associates. For example, if an agent wants to refer business to another agent in a different state, they are most likely to contact a fellow member within the association.
Enable Professional Development
As a member of a Black real estate association, you'll have access to training, workshops and other professional development opportunities to help you enhance your skills and knowledge. This will help you stay up-to-date on industry trends and best practices, thus improving the services that you offer your clients.
In some cases, you may encounter a new situation and having more experienced people to talk to and get advice from within your networks can be extremely helpful.
Advocacy and Support
As a member of a Black real estate association, you have a platform where together with other members, can advocate for the interests of Black real estate professionals and Black homeowners. This can include advocating for policies that support the Black community, addressing issues of discrimination and inequality and providing support to Black homebuyers and sellers.
Positive Involvement in the Community
Black real estate associations often engage in community service and outreach efforts, which can provide you with opportunities to give back to the communities and make a positive impact.
Sense of Community
Joining a Black real estate association can help you feel a sense of community and belonging. This is particularly important for Black agents who may face challenges and obstacles in the real estate industry due to systemic racism and discrimination.
Being part of a supportive community of Black real estate professionals can provide you with a sense of camaraderie and support.
5 Top Black Real Estate Associations in the U.S.
For Black real estate agents looking to join a Black real estate associations, here are the top 5 organizations to consider.
African American Real Estate Professionals of District of Columbia (AAREP DC)
AAREP DC is a trade association and professional network created by a group of skilled and experienced real estate professionals with the goal of empowering Black real estate professionals in developing successful careers in commercial real estate.
For 20+ years, the association has been a driving force in providing a supportive network for African Americans working in the commercial real estate landscape since its inception.
California Association of Black Real Estate Professionals
California Association of Black Real Estate Professionals is a network for Black realtors who are out to support and promote African Americans as business, community and political leaders.
The association also advocates for an increase in Black homeownership by mentoring and supporting the members so as to develop them into local and national industry leaders in the country.
Charlotte Crown Black Real Estate Association
Charlotte Crown Black Real Estate Association is a local chapter of the National Association of Real Estate Brokers (NAREB) that has an aim of ensuring that members of diverse communities are treated with dignity and that there is democracy in housing.
Houston Black Real Estate Association (HBREA)
The Houston Black Real Estate Association (HBREA) is the local chapter of the National Association of Real Estate Brokers (NAREB) and was founded in 1949.
The association was founded on the principle that all citizens regardless of their races, creed and color, have the right to equal housing opportunities regardless of race, creed or color.
National Association of Real Estate Brokers (NAREB)
The National Association of Real Estate Brokers (NAREB) is a professional organization that represents African American real estate professionals and promotes sustainable homeownership in the African American community.
Founded in 1947, the organization is on a mission to promote democracy in housing, increase black homeownership and provide support and resources to African American real estate professionals.
Diversity Doesn’t Look Like Anyone—It Looks Like Everyone
These organizations have a significant impact on the real estate industry and work continuously to empower Black real estate professionals, promote homeownership in the Black community and address racial disparities in the housing market.
Bay Street Capital Holdings
Bay Street Capital Holdings is a Black-owned, independent investment advisory, wealth management, and financial planning firm headquartered in Palo Alto, CA. They manage portfolios with the goal of maintaining and increasing total assets and income with a high priority on managing total risk and volatility. Although many advisors may focus on maximizing returns, they place a higher priority on managing total risk and volatility.
Our founder, William Huston founded Bay Street after 13 years of supporting the United States' largest retirement plan ($650B) Thrift Savings Plan. He is recognized as Investopedia’s Top 100 Financial Advisors for 2022. In California, Bay Street Capital Holdings is the only Black-owned firm out of the twenty firms that received this recognition.
In Scottsdale Arizona, Ekenna Anya-Gafu CFP, AAMS is recognized among the Best Financial Advisors for his responsiveness, friendliness, helpfulness, and detail. Bay Street was founded to advocate for diverse and emerging fund managers and entrepreneurs.
In 2021, Bay Street was selected as a finalist out of over 900 firms across the US in the category of Asset Manager for Corporate Social Responsibility (CSR).
Sources
https://www.rentspree.com/blog/local-realtor-associations
https://hbrea18.wildapricot.org/
