Becoming an agent of change for affordable housing
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ver the past couple of years, people have adapted to working from home; but what if you don’t have an affordable place to live? How can your home be expected to do double duty as a safe haven for you and your family as well as your workplace? This expectation of double duty has put additional pressure on those seeking suitable affordable housing solutions. At this writing, Freddie Mac reports that almost 60% of renters experienced rent increases over the past twelve months. Couple that with rising interest rates and inflation, and consumers are feeling the squeeze more than ever. The media is quick to report the affordability problems because problems make good clickbait but talking about problems rarely solves them. Talking about solutions, or better yet, being the solution is key. As real estate professionals, we have a unique role in addressing the housing affordability crisis and I believe there are four key areas where we can focus
Freddie Mac reports that almost 60% of renters experienced rent increases over the past twelve months. our time and expertise: service, volunteerism, education, and advocacy. It’s one thing to serve clients who are well-funded and quite another to serve clients with a low income and little-to-no down payment. The latter requires rolling up our sleeves and committing to the
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process for the long haul. We owe it to our clients to learn all we can about down payment assistance programs, non-profit organizations committed to helping people buy or rent, as well as credit repair and alternative community and housing solutions. Corwyn Melette, Broker/Owner of EXIT Realty Lowcountry Group in Charleston, South Carolina, saw a segment of the population in his area underserved when tobacco tanked and military bases closed, and he made it his mission to serve them. “You don’t make a lot of money in affordable housing, but you make an impact. To do this, you have to have a servant’s heart. It requires a lot of work,” he says. “As real estate professionals, we’re used to getting things done right now. Affordable housing takes much longer, and it requires a commitment to serve, and you must keep the buyer encouraged. You’re not doing it for the money or the transaction, but for the people you will impact, not just now, but also down the road. If you’re not doing it for the right reason, you will find yourself challenged at every turn.” Being the solution sometimes means committing time. There are many non-profit organizations focused on helping people buy or rent, and as community leaders, we can make an impact by finding one that speaks to our heart and getting involved. National Association of REALTORS® Good Neighbor award winner, Brent Gieseke, volunteers with the non-profit organization, Agape Pamoja, to acquire and refurbish houses for refugees fleeing war-torn countries at a reduced rent. Julie Jenkins, REALTORS Care® award nominee, is a passion-