Expanding the Fair Housing Conversation: Building Black Wealth and Community Impact

April Fair Housing Month, commemorating the passage of the Fair Housing Act in 1968, a landmark law that prohibits housing discrimination based on race, color, religion, sex, disability, familial status, or national origin.

Diverse Career Pathways in Real Estate

At LeaderKeys Consulting, we are committed to building Black wealth, and we feel like a substantial way to do this is highlighting diverse careers across the entire real estate process. From homeownership and property investment to real estate law, lending, and development, we believe that access to this knowledge is key to economic empowerment and long-term financial success. There are more career pathways that can help Black professionals break barriers in the real estate industry beyond agents and brokers and we want you to be able to explore them.

To help guide those interested in exploring these opportunities, we have created a comprehensive resource that outlines various career paths in real estate, providing descriptions and insights into 21 career paths, you can download it here. This resource serves as a valuable tool for anyone seeking to understand the full spectrum of careers in the real estate industry and how they can contribute to community growth, personal wealth-building, and financial independence.

While the Fair Housing Act has created important protections, Black families have continued to face barriers to homeownership, wealth-building, and access to resources in the housing market. These disparities have contributed to the widening racial wealth gap and limited opportunities for generational wealth in Black communities.

But there is hope. By entering diverse careers across the entire real estate transaction process—such as becoming a real estate agent, appraiser, mortgage broker, property manager, land surveyor, or developer—we can start to circulate the Black dollar within our communities and create more pathways for economic empowerment.

The Banker

Recently, I relaxed and watched "The Banker," aligning perfectly with our Fair Housing month campaign focused on reimagining careers in real estate.

The film follows entrepreneurs Bernard Garrett (Anthony Mackie) and Joe Morris (Samuel L. Jackson) as they challenge 1960s racism by empowering African Americans to pursue home ownership. They train Matt Steiner (Nicholas Hoult), a white man, to represent their banking empire, but their success draws federal scrutiny.

The film is excellently cast and portrays the importance of representation throughout the entire real estate transaction. LeaderKeys always emphasizes empowering leaders, and our Fair Housing Month campaign challenged us to think beyond traditional real estate roles like agents and brokers and engage fully in real estate transactions in other areas like titling, banking and land distribution, as examples.

Bernard Garrett possessed above average mathematical skills and Mackie's portrayal of that prowess was impressive, making the film a worthwhile watch. I rate it a 10/10 and recommend it on Apple TV, especially amid ongoing efforts to erase Black history.

The Business of Real Estate

As we work to enhance discussions around Fair Housing, it’s crucial to emphasize the business of real estate and its impact on our communities. Black real estate agencies and brokerages encounter distinct challenges, but they also hold remarkable opportunities to make a positive difference in their communities.

By supporting Black professionals in the industry through education, resource access, financial acumen, and networking opportunities, we can help bridge existing gaps and promote a more equitable real estate environment.

Additionally, transitioning these businesses to family members is a key strategy for fostering generational wealth within Black families.

The Role of Appraisals

Here is something many of us already know from experience: Black homeowners often receive lower home appraisals than their white counterparts, even when their homes are comparable. That's not just unfair—it's a direct hit to our financial stability and a reminder that racial bias still plays a major role in housing.

Access to housing has shaped our community's economic future, and homeownership has always been one of the most powerful ways to build generational wealth. Yet, Black and Brown families continue to face systemic barriers that keep us from fully realizing the American Dream.

Right now, we're seeing a dangerous shift in policies with the attempted removal of Diversity, Equity, and Inclusion (DEI) initiatives, and that has real consequences for fair housing. Past efforts have been instrumental in pushing for equity in home appraisals, lending, and policy reforms—without them, we risk losing the progress that's been made and reinforcing the racial wealth gap.

Fair housing isn't just about access—it's about equity, fairness, and accountability. Now more than ever, we need to push back against these rollbacks, hold decision-makers accountable, and advocate for policies that keep our communities from being left behind.

Here's how we can take action:

• Educate ourselves and each other about racial bias in housing.

• Push for policies that ensure fair and transparent appraisal processes.

• Support Black-led and community-focused organizations fighting for housing justice.

• Speak up—because if we don't, who will?

Learn more about bias in home appraisals in this report published by the National Association of Real Estate Brokers (NAREB): https://www.nareb.com/site-files/uploads/2024/10/Home-Appraisals-in-Black-and-White_Final_10.21.24.pdf

In Conclusion

We've fought too hard to go backward. We have to keep fighting, now more than ever! We will unapologetically do what's best for OUR communities, yes, we said, OUR communities.

Let’s carry this momentum forward:

Fair housing is a right, not a privilege. Let’s ensure that every family—regardless of race or background—has an equal shot at homeownership and the economic security it brings.

What steps will you take beyond April to support housing equity?

Questions, comments, feedback?

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