The Top Black Real Estate Pros and How They Are Making a Change 

03.03.22 10:39 PM Comment(s) By Assetsoft

The CRE(Commercial Real Estate) industry being white-dominated is not a new problem. So, what is it like being a black person in this non-diverse industry? From constantly proving their worth through overwork to never feeling included as equals, they live a very stressful life in CRE. 
 

In CRE even in high positions, with decades of experience in Strategy and Leadership, black people find themselves to be the only people of colour in the room. Every single day they have to work extra hard to prove that they are up for the job even when they have a great record in business process overview.  

Common Hardships For Black Persons in CRE 

 

  • No peers from the community  

National Association of Real Estate Brokers (NAREB) says that as little as 6% of Real estate brokers are black in the USA. 74.6% of the real estate brokerage sector is dominated by white people alone. Statistics say black people form 11% of the US population, but black agents still get little seats at the table. This, in turn, affects black homeownership as well making this a much more deep-seated problem than we can imagine. 

 

  • Hardly any opportunity to be equals 

Even someone as big as Guesst founder and CEO, Jay Norris says that he has given up on trying to feel like an equal to a black realtor. He has realised that no matter how impactful his work is over the past 12 years in the real estate sector, he will never be treated the way his white colleagues are. 

 

  • Constantly breathing down their necks  

Being a minority in any space is hard and above that, if you are black then the picture is really grim. Pebbles Corp. founder Don Pebbles feels that he is always under the radar. Though he has a $700M real estate business and 35 years of experience to back him, he hardly has any space to commit human errors. 

Inspiration - Black people who made it big in enterprise real estate 

Here are some tales to note their tough yet inspirational journey. Let us get an inside picture of what it is like being a black human in a white-dominated CRE industry.  

 

She is a force to reckon with when it comes to CRE. She has her own business process overview where she invests in surrounding communities every time she buys a property. She even founded Affordable Real Estate Investments to train and support more visionaries like her. 

 

When she started out Lisa lost thousands of dollars in mortgage and saw the opportunity in investing in black neighbourhoods. She realised she needs to empower first-time real estate investors like her to break free from the white-dominated business. She has worked her way up the ranks and is now a reliable investment implementation consultant in CRE. 

 

Anderson is probably one of the pioneers when it comes to black real estate investors. He started his work for the black community in light of the anger he had due to the poor living conditions in his own neighbourhood. He worked tirelessly to help his community thrive. He not only built residential property but got into commercial real estate to promote black people finding safe office space. Through his multiple decades in the real estate business, he had more than 100 properties under his wings.  

 

Anderson was a man whose parents were freed from slavery, he was someone who understood the flight of a black person in white inclined USA. His life was a living breathing example of it. He learnt the lessons that life threw at him and worked to make his real estate business a safe space for people of colour.  

 

He did everything in his power to fight for their rights. He even participated in on-ground activism to speak up about affordable housing for low-income black people and black students. Over 50 years that he was in the business he made his community thrive on his properties. 

How does the Future Look Like?

Real estate businesses and managers are the faces of the industry. So the more black representation there the more comfortable black people will be in feeling valued as equals.  

 

NAREB has been looking to address the disparity in the representation of black people in real estate. For one, they've launched a Black Person Real Estate program to motivate aspiring candidates with financial and moral support. NAREB has even initiated a benefit based reward of $5,000 for the selected candidates to encourage more participants to join.  

Fast forward growth in the present times 

Property management and real estate deals are becoming increasingly tech-based. The real estate business is unfair as is for people of colour, now do not let technology hold you back even further. If you want to start this tech journey for your business comfortably then you can easily enlist your company with financial software and consulting services.  

 

Assetsoft’s MRI support and services will make your journey into the tech world seamless. Our Yardi service will completely integrate your business. Our planned process will make your work faster and help you scale new heights like any of your white competitors. If you have the knack for it, then we have the correct project management processes for your growth.  

Are You Choosing the Right Real Estate Property Management Software?

There is no denying the fact that there are innumerable obstacles and roadblocks that a black person faces to make it in the world of real estate. There are some positive steps being taken by authorities like NAREB to make the CRE a more inclusive space for people of colour. 

 

Get on top of your game to beat the odds. Assetsoft can help you choose wisely when it comes to choosing the right real estate project management software. 

 

Get inspired by the resilient black people who made it to the top even with endless roadblocks. Manage your properties better with technology. Hire the Assetsoft team and get access to the best project management consultants. 


Our IT outsourcing services will help you reap the benefits of popular real estate property management solutions, from Yardi support solutions to MRI software services. To start your journey with us, get in touch with us today! 

 

Assetsoft

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