Increasing Diversity and Representation in Brokerage Ownership
Creating opportunities for groups that are underrepresented at the ownership level in the real estate industry.
The following is a guest post by Ryan Gorman, President & CEO of Coldwell Banker Real Estate.
I strongly believe that one of the best things we can do to increase homeownership in underrepresented communities is to increase access to and understanding of programs and information related to buying and owning a home. As an industry, that means increasing diversity and representation among brokerage owners.
Coldwell Banker Real Estate is committed to leading the industry in this effort. At the NAREB Mid-Winter Conference, I announced changes to the Coldwell Banker franchise offering designed to encourage and facilitate successful brokerage ownership among Military, Minority, Women and LGBTQ+ entrepreneurs in the real estate industry. This industry-leading program eliminates the initial franchise fee and provides financial incentives to support diverse business owners in the critical first two years of business. Benefits include up to $100,000 of funding, royalty fee rebates for year one and two, as well as mentorship and education. Owners will also receive membership and conference registrations for industry partner groups, such as NAREB, NAHREP and AREAA.
Coldwell Banker Real Estate has long had a program to encourage diverse franchise ownership. However, in order to achieve true representation within the Coldwell Banker brand we needed to do more. By creating opportunities for groups that are underrepresented at the ownership level, we will have an impact on the brand, the industry, and homeownership, now and for the next 114 years.
If you are interested in learning more about this opportunity, visit https://www.coldwellbanker.com/franchising