You may be wondering why a real estate blog would post something about Martin Luther King? Many people are not aware of how much Martin Luther King helped the lives of home buyers, sellers, and real estate agents.
Martin Luther King’s death gave Congress the last push needed to pass the Fair Housing Act in 1968. The Fair Housing Act was put into place to ban racial discrimination in housing. You cannot be refused the rental or purchase of a house based upon your race.
It didn’t happen overnight. Believe it or not, it still can and does come up. Last year the National Association of Realtors passed a ban on all Pocket Listings. Pocket listings are listings held off-market by a real estate agent that shares that information with whomever they so choose. Studies have shown that the last people to hear about Pocket Listings were people of color.
A large number of homes are sold off the market. Oftentimes the agent with the pocket listing is double-ending the sale. The ban on Pocket Listings began on January 1, 2020. Implementation begins on May 1, 2020.
As professionals we’re tasked with making people aware that discrimination based on race is not acceptable. We must refuse to work with anyone that wants to do so. I’m proud to be a part of this ongoing history.
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