Realtor.com® Champions Buyer's Agents for Underrepresented Groups

Core Insights - The initiative by Realtor.com® aims to educate the public on the importance of buyer's agents, particularly for historically underserved communities, to prevent further distancing from homeownership [1][7][10] - The campaign highlights the challenges faced by low-income, LGBTQ+, Hispanic, Veteran, and first-time buyers, emphasizing the need for buyer representation to navigate the complex homebuying process [2][8][10] Group 1: Statistics and Challenges - Low-income earners are 22% more likely to be denied a loan, while LGBTQ+ individuals are 25% less likely to own a home compared to the general population [1] - One in four Hispanic individuals complete the homebuying process entirely in Spanish, indicating a need for tailored support [1] - Seven in ten Veterans are unaware they qualify for a zero-down home loan, highlighting a significant knowledge gap [1] Group 2: Campaign Details - The buyer agency campaign launched on April 18 has garnered nearly 40 million impressions and 18,000 agent toolkit downloads, indicating strong engagement [9] - Prominent real estate organizations are joining the movement, signing a joint letter in support of buyer agency to be published in major newspapers [13] - The campaign includes customized messages for different underserved communities and an updated toolkit for agents to promote buyer representation [14] Group 3: Industry Impact - The majority of new homeowners over the next two decades are expected to come from diverse communities, making access to competent buyer's agent representation crucial for the housing economy [10] - Realtor.com® is advocating for increased awareness and support for buyer representation, especially during the current real estate affordability crisis [2][8]