The National Association for the Advancement of Colored People (NAACP) and The National Association of Real Estate Brokers have announced a partnership that will help ensure that black individuals and families have access to quality financial education, appropriate financial products, accredited counseling services, and financial assistance to have a better chance at increasing black wealth through homeownership.
“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 in a statement to Atlanta Daily World.
“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 the NAREB and NAACP Empowerment Program commitments:
- 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 of a series of recurring, multimedia, 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 homeownership amongst creditworthy, mortgage-ready black millennials
- Collaboration on development and retention programs designed to increase and sustain increased homeownership 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.