What Does MLK Have To Do With Real Estate?
Fill in the blank…
“I have a _________…”
It doesn’t take a psychic to know what word you chose.
Was it “dream”?
Good chance it was. We all know this line from Martin Luther King, Jr.’s famous speech. So when we hear those first three words, it sort of naturally comes to mind.
But what many people aren’t aware of is how much he affected the lives of real estate agents, mortgage lenders, buyers, and sellers.
It was his death that gave Congress the last push needed to pass the Fair Housing Act, back in 1968. It’s pretty involved, but to put it simply…
This was put in place to ban racial discrimination in housing. You can’t be refused the rental or purchase of a house, based upon your race.
Seems simple enough to most people now. A given, if you will. But it didn’t happen overnight. And believe it or not, it still can and does come up.
But guess who’s a big part of making sure this Act is followed…
On the front lines, it’s real estate agents and lenders. They're tasked with making people aware that discrimination based upon race (and many other things) are not acceptable, and they must refuse to work with anyone who wants to do so.
Lenders and real estate agents are both proud to be a part of this ongoing history.
Today is the day where we take a moment to reflect and pay him respect. It’s also a good day to share some insight into how much more responsibility we as lenders have than meets the eye.