REALTIST: Definition, Examples, and Resources
Definition
A REALTIST is a member of the National Association of Real Estate Brokers (NAREB), an organization established in 1947 to ensure African Americans and minorities had access to homeownership opportunities and fair practices in the real estate industry. The term “REALTIST” is derived from “Real Estate Specialist,” and members subscribe to a strict code of ethics and are dedicated to democracy in housing.
Examples
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Abel: Abel, an African American real estate broker, paid his dues to join NAREB, thereby pledging to uphold its code of ethics. Abel became a REALTIST, advocating for fair housing in his community.
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Maria: Maria, a Latina real estate agent, became a REALTIST after witnessing firsthand discrimination in housing. By joining NAREB, she commits to fighting housing inequalities and enhancing minority homeownership.
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Li: Li, an Asian American property manager, joined NAREB to network with other minority professionals and receive education on fostering fair housing principles. As a REALTIST, Li utilizes his membership to promote inclusive real estate practices.
Frequently Asked Questions
Q1: What is the difference between a REALTOR® and a REALTIST?
A1: While both REALTORS® and REALTISTS must adhere to ethical standards, REALTORS® are members of the National Association of REALTORS®, open to all licensees regardless of race, whereas REALTISTS are members of NAREB, focusing on minority real estate professionals and promoting equality in housing.
Q2: How does one become a REALTIST?
A2: To become a REALTIST, a real estate professional must join the National Association of Real Estate Brokers (NAREB), paying membership dues and agreeing to abide by the ethical guidelines and objectives of the organization.
Q3: Are there specific benefits to being a REALTIST?
A3: REALTISTS receive benefits like networking opportunities among minority professionals, access to unique educational resources focused on fair housing, advocacy tools, and the ability to contribute to the cause of economic empowerment in their communities.
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National Association of Real Estate Brokers (NAREB): An association founded in 1947 to address housing inequalities and promote homeownership among minority groups.
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REALTOR®: A licensed real estate professional who is a member of the National Association of REALTORS®, advocating for higher standards in the industry.
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Fair Housing Act: U.S. legislation aimed to eradicate discrimination in the housing market and ensure equal access for everyone, regardless of race, color, national origin, religion, sex, familial status, or disability.
Online Resources
- National Association of Real Estate Brokers (NAREB) Official Website: NAREB
- Fair Housing Act Information: HUD - Fair Housing
References
- National Association of Real Estate Brokers (NAREB). History and Purpose. Available at: NAREB
- U.S. Department of Housing and Urban Development (HUD). Fair Housing Act. Available at: HUD
Suggested Books for Further Studies
- “The Color of Law: A Forgotten History of How Our Government Segregated America” by Richard Rothstein
- “Evicted: Poverty and Profit in the American City” by Matthew Desmond
- “Race for Profit: How Banks and the Real Estate Industry Undermined Black Homeownership” by Keeanga-Yamahtta Taylor
Real Estate Basics: REALTIST Fundamentals Quiz
### Who can become a REALTIST?
- [x] Any individual or group focused on promoting fair housing and minority homeownership.
- [ ] Only members of the National Association of REALTORS®.
- [ ] Exclusively foreign real estate investors.
- [ ] Anyone, without needing to subscribe to any particular code of ethics.
> **Explanation:** A REALTIST is an individual or group part of the National Association of Real Estate Brokers (NAREB), advocating for fair housing and committed to promoting minority homeownership.
### What organization do REALTISTS belong to?
- [ ] National Association of REALTORS®.
- [x] National Association of Real Estate Brokers (NAREB).
- [ ] National Association of Real Estate Professionals.
- [ ] Official Realtor Society.
> **Explanation:** REALTISTS belong to the National Association of Real Estate Brokers (NAREB), an organization which primarily consists of minority and Black real estate professionals.
### What is a key focus of the NAREB?
- [x] Promoting fair housing and homeownership among minorities.
- [ ] Reducing property taxes nationwide.
- [ ] Elevating property values.
- [ ] Strictly commercial real estate development.
> **Explanation:** The NAREB focuses on promoting fair housing, reducing discrimination, and encouraging homeownership opportunities among minorities.
### When was the National Association of Real Estate Brokers founded?
- [ ] 1958
- [ ] 1910
- [ ] 1980
- [x] 1947
> **Explanation:** The National Association of Real Estate Brokers was founded in 1947 to address issues with housing discrimination and ensure access to homeownership opportunities for African Americans and other minorities.
### What does NAREB's code of ethics emphasize?
- [ ] Increasing real estate prices.
- [ ] Embracing non-discriminatory practices.
- [x] Promoting democracy in housing.
- [ ] Decreasing construction costs.
> **Explanation:** NAREB's code of ethics emphasizes the promotion of democracy in housing, ensuring fair and non-discriminatory practices in the real estate market.
### How do REALTISTS contribute to their communities?
- [x] By advocating for economic empowerment and fair housing practices.
- [ ] By serving only the higher-end property market.
- [ ] By focusing exclusively on rental markets.
- [ ] By prioritizing the commercial real estate market.
> **Explanation:** REALTISTS contribute to their communities by advocating for economic empowerment, fair housing practices, and equal housing opportunities.
### What law aligns closely with the mission of NAREB?
- [x] The Fair Housing Act.
- [ ] The Tax Cuts and Jobs Act.
- [ ] The Real Estate Settlement Procedures Act.
- [ ] The Dodd-Frank Wall Street Reform and Consumer Protection Act.
> **Explanation:** The Fair Housing Act aligns closely with the mission of NAREB, aiming to eliminate discrimination in housing and ensure equal opportunities for all individuals.
### Which landmark decision does NAREB advocate for in ensuring fair practices?
- [ ] Roe v. Wade
- [ ] Plessy v. Ferguson
- [x] Brown v. Board of Education
- [ ] Citizens United v. FEC
> **Explanation:** While Roe v. Wade, Plessy v. Ferguson, and Citizens United v. FEC are significant in their respective contexts, Brown v. Board of Education aligns with NAREB's mission by addressing inequalities that parallel housing disparities.
### For how long do REALTISTS support democracy in housing in the U.S.?
- [ ] Only during election periods.
- [x] Throughout their careers consistently.
- [ ] Only for a probationary period.
- [ ] Until they achieve their first sale.
> **Explanation:** REALTISTS actively and consistently support democracy in housing throughout their careers by fostering non-discriminatory housing practices and policies.
### How does one benefit from joining NAREB as a REALTIST?
- [ ] They receive government stipends.
- [ ] They get discounts on property purchases.
- [x] They gain access to a network of minority real estate professionals and specialized resources.
- [ ] They can exclusively market properties on NAREB's internal listing service.
> **Explanation:** REALTISTS benefit from their membership through access to a network of like-minded professionals, unique educational resources focused on fair housing, and advocacy tools.
