Realogy Holdings Corp. announced it has partnered with the National Association of Minority Mortgage Bankers of America (NAMMBA) to attract and support real estate professionals from diverse communities.
“For years, Realogy has supported the NAMMBA mission through its longstanding commitment to diversity and inclusion,” Tony Thompson, NAMMBA founder and CEO, said in a release. “Today’s partnership news expands this effort by reaching more professionals, equipping them with the tools they need to succeed.”
Real estate brokers and agents affiliated with Realogy brands (Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Corcoran, ERA, and Sotheby's International Realty) will have access to free NAMMBA memberships for the first year and exclusive access to focused training, new hire programs, leadership development opportunities, and other resources.
“An advocate for equality and inclusion, Realogy is igniting change in neighborhoods across the globe by empowering diverse communities to own their future through homeownership, entrepreneurship, and employment opportunities via programs, initiatives and partnerships like this one,” Jason Riveiro, Realogy senior director, global growth markets and inclusion, said in a release. “By partnering with NAMMBA, a true industry ambassador committed to helping diverse real estate professionals build their careers, we can further build a pipeline of future leaders who can bring change to the industry and are poised to guide a growing population of diverse communities who are ready to become homeowners.”
The partnership between NAMMBA and Realogy is meant to attract more diverse professionals to real estate and help meet the need for representation within the profession and support growing mortgage-ready diverse communities. NAMMBA said that over the next five years, 75 percent of all first-time home buyers will be women, millennials, or people of color.
Moreover, according to the association’s market forecast, Asians, African Americans, and Hispanics generated more than $292 billion of purchase opportunity in 2020, 24.2 percent of all purchase dollar opportunities.
“At Century 21, we believe that we can only provide the highest level of service when the people within our system reflect the same diversity as the communities we serve every day,” Bryon Ellington, chief development officer at Century 21, said. “We are committed to providing the best agent training to this new group of diverse agents, empowering them to reach their full potential.”