A new report highlights the huge earning gap between Black and white real estate agents.
According to the National Association of Realtors (NAR), white real estate brokers make about three times more than their Black counterparts, per the New York Times. The median sales volume for Black real estate agents lands at $474,500 compared to $1,998,000 for white agents, NAR reports.
Black people make up 14 percent of America’s population but only account for 6 percent of real estate agents and brokers.
The disparity is largely attributed to discrimination that has persisted in the market for decades.
Black agents were blocked from becoming members of NAR and having access to its perks until 1961. Despite the bar being lifted, the organization continued to oppose and lobby against the Fair Housing Act well after it outlawed housing discrimination in 1968.
Residences owned by Black people continue to be undervalued, with pricing 23 percent lower than white-owned homes, which has led to…
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