Real Estate Leaders Speak Out Against Racism

Real Estate Leaders Speak Out Against Racism

by DeVore Design, July 20, 2020

Top RE brokerages recently contacted agents. A Keller Williams task force will work “to eliminate racial disparity.” Redfin plans a deeper analysis of company disparity.

Nationwide protests over police brutality and racism stemming from the homicide of George Floyd have prompted the real estate community to speak out.

Compass CEO and co-founder Robert Reffkin described himself as a “black man who has felt out of place his entire life.” He shared via a companywide email that he sent to employees on Sunday: “I’m heartbroken that all this pain we’re feeling, all of the energy being generated, all of the moral clarity that a moment like this creates – might still not lead to enough change.”

Gary Keller, CEO of Keller Williams, wrote a letter to agents on Monday that began: “I’d like to make one thing clear: Racism is wrong, and Keller Williams stands with the black community and wholeheartedly supports equality.” Keller said the firm will create a task force of its International Associate Leadership Council to develop recommendations for action to eliminate racial disparity within its company and the industry and vowed to help lead change within its communities.

“I will be reaching out to your regions immediately to ask for a nomination from each to join us in this critical effort,” Keller wrote. “I believe we can also set an example within the industry by committing more of ourselves to a better, and equitable future.”

Keller also urged all staff to self-reflect, listen, learn and speak up to bring about change. He urged sales associates to reach out to their local real estate boards and ensure racial equality is reflected in positions as well as to support initiatives and measures that are crucial to racial and social justice.

“I believe that the real estate community has a unique opportunity to promote healing and reform,” Keller’s letter reads.

Glenn Kelman, CEO of Redfin, also vowed to do more within his company.

“The most obvious thing is hiring and developing more people of color to positions of power,” Kelman wrote on Redfin’s blog on Sunday. “We say that we believe talent is equally distributed between people of different races, but most businesses, including Redfin, are run mostly by white people.”

Kelman says later this month the brokerage will publish its annual report on employee diversity and its diversity initiatives, and he intends to go into more detail about what’s working, what isn’t, and what’s next. He also committed to greater education within their workforce about race and real estate.

“Let’s commit as businesses and business people to serve blacks and other people of color better,” Kelman wrote. “Companies that employ hundreds or thousands may feel it’s beyond our control to stop one grocer or bank teller or broker from jumping to the wrong conclusion about a customer, and doing something racist that hurts that customer, and stains our reputation for years.”

Source: REALTOR® Magazine and “America in Crisis: Real Estate Leaders Address George Floyd Protests,” The Real Deal (June 1, 2020)

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