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How We Can Help Close the Homeownership Gap Together
June marks Pride Month, a time dedicated to celebrating the LGBTQ+ community and advocating for equal rights. But it’s also a moment to think about how we as a leading brokerage in the Carolinas and nationally, can do more, especially when it comes to homeownership. We are all aware that LGBTQ+ folks face some serious hurdles when buying homes. Let’s look closer at this and determine what we, as REALTORS®, can do to make a noticeable difference.
Even though we’ve come a long way, LGBTQ+ people still face a lot of barriers in homeownership. Discrimination in our industry is real—whether it’s biased lending practices or just not being treated fairly during the buying process. Studies show that LGBTQ+ individuals are less likely to own homes compared to straight people. In fact, according to the Urban Land Institute, the homeownership rate among lesbian, gay, bisexual, transgender, and queer (LGBTQ+) people is 20 percentage points lower than the rate for people who identify as straight and cisgender. Some of these reasons are lower household incomes, higher loan rejections, and sometimes just a lack of legal protections.
At ERA Live Moore, we’re all about inclusivity. Our Vision and Values clearly state: Empower. Excellence. Belong: We Empower Dreams Through Real Estate. This makes it our mission to ensure that everyone, no matter who they love or how they identify, feels welcome and valued–that they belong. We want to help close that homeownership gap, and here are a few ways we are attempting to do this.
Through education and training our agents are educated and trained on the challenges LGBTQ+ buyers face, but they have a solid understanding of fair housing laws, spotting discrimination, and knowing how to advocate for the consumer. Our goal is to empower our client’s real estate dreams.
Inclusive Marketing: Our marketing is as inclusive and diverse as our communities and clients. We use supportive and uniting language and showcase via high-quality imagery, the consumers in the communities we serve and beyond. It is critical that our clients and members of the LGBTQ+ feel seen and respected.
Advocacy for Fair Policies: We’re supportive of policies that promote fair housing and protect against discrimination. As active members of the Real Estate Alliance, we are active advocates supporting stronger legal protections and pushing for positive change.
Financial Assistance and Guidance: ERA Live Moore provides access to resources that can help LGBTQ+ individuals with the financial side of homeownership. This includes connecting them with LGBTQ+-friendly lenders and other third-party supports, organizations, and offering financial literacy programs.
Pride Month is a time to celebrate, but it’s also a reminder that we still have work to do. At ERA Live Moore, we’re proud of what we’ve accomplished, but we’re always looking for ways to do better. By educating ourselves, advocating for fair policies, and being an ally for members in our communities, we can help close the homeownership gap and create a more equitable future for all.
Whether you’re a homebuyer, a fellow REALTOR®, or just a supportive member in one of the countless communities that make up the markets we serve throughout the Carolinas, you can make a difference too! Join us in supporting the LGBTQ+ community on their journey to homeownership. Together, we can make sure everyone has the chance to own their dream home.
