REALTORS® in Illinois interested in supporting future Black real estate professionals may want to share information about a support program for newcomers.

The new Black Real Estate Agent Program will pay up to $5,000 of the onboarding costs for new Black real estate agents and provide them with individual mentors. Created by the National Association of Real Estate Brokers (NAREB) and the real estate referral company, HomeLight, the program is designed to boost the number of Black real estate professionals (currently 6 percent) so that it more closely matches the Black population (11 percent).

Members of Dearborn REALTISTS® – the Chicago chapter for NAREB – will provide mentors to local participants.

To apply, aspiring real estate professionals must be:

  • Between the ages of 18 and 35,
  • Interested in a real estate career but not yet established as an agent,
  • Willing to work with a NAREB broker during his or her first year in real estate,
  • Committed to spending five to 10 hours a week working with mentors or on continuing education,
  • Located anywhere in the United States.

“NAREB applauds and welcomes the partnership with HomeLight,” said Lydia Pope, NAREB President-elect. “Our association’s goal to achieve Democracy in Housing cannot be reached without the increase in the ranks of Black real estate professionals. Agents are the frontline and introduce homeownership to prospective clients. We are confident that this new program will not only equip Black American program participants with the knowledge and practical experience to become top producers in their communities but also significantly expand Black homeownership in their communities.”

The initiative will help close the income and racial wealth gap in the industry, according to Antoine Thompson, NAREB National Executive Director. “Together, we’re holding open the door that would otherwise remain closed to Black professionals and consumers,” he said.

HomeLight provides a variety of software and services to home buyers, sellers and real estate agents at every step throughout the real estate journey. HomeLight helps consumers find top real estate agents, access a network of cash buyers and provides innovative financing solutions. It is headquartered in San Francisco. Together, HomeLight and NAREB are trying to increase the number of top-producing Black agents in real estate and improve the rate of homeownership for Black Americans.