The NAACP (National Association for the Advancement of Colored People) and NAREB (The National Association of Real Estate Brokers), announced a shared commitment and partnership that will ensure that Black individuals and families have access to quality financial education, appropriate financial products, accredited counseling services, and financial assistance wherever available – all centered around and pointing to increasing Black wealth through homeownership.
The Memorandum of Understanding, being signed today further strengthens and expands the relationship between NAACP units and NAREB’s certified branch offices to offer the information, resources and services needed to ensure that each network is strategically positioned to create positive change for the constituents and clients of both organizations.
This signing is extremely timely, as NAREB, the nation’s oldest professional, minority real estate trade organization, recently concluded its 73rd Mid-Winter Conference on Feb.13, 2020, immediately following an extremely optimistic six-month increase in Black homeownership rates.
According to the latest U.S. Census Bureau reports, Black homeownership trended upward for two consecutive quarters, from a low of 40.6% in the second quarter of 2019, to ending the year at a rate of 44 percent.
“NAREB stands together with the NAACP in this commitment to our members, leaders, and most importantly, our clients and constituents, with the goals, objectives, and initiatives outlined in this memorandum of understanding” stated NAREB President Donnell Williams. “The “R” in NAREB stands for “Relationships” and this agreement demonstrates the power of relationships through partnership.
We are grateful for this opportunity to fortify and expand our current relationship with the NAACP, which has proven to be a pillar organization for our people for 110 plus years. Our members are the commanders and guardians of our communities and this MOU will provide the template, framework, and formula for successful collaboration which will create positive change nationally and globally. We must work together to organize and strategize our efforts.”
Highlights of NAREB and NAACP Empowerment Program commitments include but are not limited to:
- Collaboration on NAREB’s 2MN5 (2 million new Black homeowners in 5 years) program related target market research to enable generation of prospective buyers in various markets nationwide
- Development and publishing a series of recurring, multi-media, public information and marketing campaigns designed to promote awareness of homeownership opportunities/benefits and to promote increased levels of Black homeownership/wealth
- Collaboration on NAREB’s House Then The Car initiative, which is an expansion of 2MN5. This initiative focuses on increasing home ownership amongst credit worthy, mortgage ready Black millennials
- Collaboration on development and retention programs designed to increase and sustain increased home ownership levels while reducing racial wealth disparities
- Hosting and participating in various joint events focused on homeownership and other wealth building strategies at regional and national conventions/conferences or in agreed local markets
- Encouraging NAACP members to post properties for sale within NAREB’s REALTIST Referral Network (RRN). For every property referred and sold within the RRN, an agreed upon contribution will be made to the NAACP by the identified REALTIST (NAREB) member/practitioner involved in the transaction
The signing will take place during the NAACP Annual Meeting where Chairman Leon W. Russell & President/CEO Derrick Johnson, National Board Members, Foundation Trustee Members, ad NAACP members from State/State-Area Conferences, Branches and Youth Units will be in attendance.