While progress has been made to ensure an equitable process for all Americans, there are still many obstacles Black Americans and people of color face along the path to homeownership. Serving as more than just an advocate, Sharon O’Mahony—a REALTOR® with Windermere Real Estate Greenwood and 2023 president of Seattle King County REALTORS® (SKCR)—is taking actionable steps to close the racial homeownership gap.
In addition to being a member of the Coalition for More Housing Choices, SKCR recently joined the Black Home Initiative (BHI) network. The network aims to reduce barriers to greater housing options, enact regulatory changes to allow for more diversified housing options, and promote social and financial justice.
Here, O’Mahony talks about what real estate professionals can do to alleviate racial disparities in homeownership and crucial next steps to move the industry forward.
What led to your involvement with the Black Home Initiative?
Our association is a member of the Coalition for More Housing Choices, which focuses on promoting social and financial equity through greater access, diversity and inclusion. Through this, we participated as a stakeholder in the initial development of BHI. Our board agreed that joining would offer opportunities to further advocate on issues addressing housing equity for BIPOC (Black, Indigenous and People of Color) households, while further collaborating with stakeholders and strengthening relationships with local and state elected officials.
How does the Coalition for More Housing Choices fit into this overall mission?
Late last year, coalition partners presented a seven-point plan to increase Black homeownership in the Puget Sound region during the Housing Washington Conference. We share this group’s commitment to support state and local efforts to increase the supply of more middle-class housing choices. We also support efforts to increase Black homeownership, which includes expanded supply, access to resources for first-time homebuyers and anti-displacement strategies.
What types of marketing strategies and brand messaging do you employ to better serve Black and POC consumers?
One strategy is to deploy trusted brokers (including BIPOC members) to interact with low- to moderate-income Black and POC consumers. These experienced professionals assist in providing pre- and post-purchase counseling, tools and other resources to help first-time buyers navigate the path to homeownership. Additionally, REALTOR® members can earn a credential from the National Association of REALTORS® (NAR) called the At Home With Diversity certification. Coursework is designed to equip brokers with special skills and competencies for working with and earning the confidence of diverse buyers and sellers.
What steps can real estate professionals take to alleviate racial disparities in homeownership?
I believe education is essential to making our community and association more inclusive and welcoming. SKCR was one of the first entities to offer a required Fair Housing class. In 2021, NAR selected SKCR to be one of eight associations to partner in its mentorship program.
Looking toward the future, are there any developments in the works?
I’m looking forward to seeing what comes out of our involvement with the Black Home Initiative. We have a new chair of our DEI (diversity, equity and inclusion) committee, Marissa Beach, and she is very passionate about BIPOC homeownership.
For more information, please visit https://www.morehousingchoices.org and https://www.civic-commons.org/bhi.
