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To prosper in today's real estate market, REALTORS® need new skills for handling transactions which involve minority buyers or sellers. The National Association of REALTORS® (NAR) serves its members by teaching these skills through the professional development course At Home with Diversity®. Equally important, NAR helps state and local associations initiate diversity programs to get their memberships in step with the changing times.
At Home With Diversity® is an educational experience designed to present a picture of the changing face of the real estate industry. More importantly, the class teaches how real estate professionals can increase their sensitivity and adaptability to future market trends.
The course addresses issues of diversity, fair housing, and cultural differences. All three subjects are closely related and have value for real estate professionals who must serve diverse local markets.
With minority power in America at over $1 trillion and minorities accounting for 40% of first-time homebuyers, it is good business for REALTORS® to develop the skills to reach the growing multicultural market of prospective homeowners.
As the 2000 U.S. Census has reported, America is more culturally diverse than at any other time in the nation's history. This diversity is now considered to be one of the country's greatest assets. It is not only affecting the way we view the world, it is affecting the economy of the world. So, meeting the needs of America's diverse consumer groups has become a pragmatic strategy for business of all kinds.
In this diverse marketplace, expanding home ownership must be about opening new doors - new doors to minority citizens and immigrants who want to own their own homes, and new doors to profitability for REALTORS®. Multicultural outreach is good for minorities hoping to own their first home, the initiative offers extraordinary benefits to REALTORS® by substantially increasing their market share in this relatively untapped market.