Tips and Tricks to Avoid Bias in Real Estate

Navigating bias in real estate can be challenging, especially for minorities. Take these steps to help you throughout your process.

Firstly, if you hear someone say something that is potentially bias, question that person, “Why do you believe that?” or “That doesn’t make me feel very comfortable, can you further explain why you said that?”- interrupting the bias and discriminatory thought and belief can provide an opportunity to have a discussion and possibly educate whomever you are speaking to about something that they may not have understood to be “racist”. It is important to remember that there are many circumstances in which someone says something and they are unaware of the actuality of the meaning behind a phrase or word. Not every comment made is driven from hate, a lot of times, it is driven from an instilled belief system that they had no way of combatting.

In real estate, it is crucial to have your ducks in a row prior to beginning your hunt for a new home. Research the market to understand fair pricing. Building a strong credit history also helps counter potential bias. Utilize professional real estate agents who prioritize diversity and inclusion (hint- that’s me). and Lastly, be assertive about your rights and seek legal guidance if needed. Overcoming bias in real estate is about informed decisions, proactive steps, and educating along the way.

When researching the real estate market, look beyond just property values. Understand the neighborhood dynamics and potential biases, meanwhile, building a solid credit history is crucial; it not only affects loan approvals, but can also counteract unfair pricing. Choosing a real estate agent, such as myself, you will be ensured better representation and support throughout the process. If you encounter bias, assert your rights confidently and seek legal advice if necessary. Remember, knowledge and proactive measures empower minorities in real estate transactions.

What if you have a bad/mediocre credit score, you ask?

If you have a less-than-ideal credit score, there are steps to improve your situation. Begin by paying bills on time to demonstrate financial responsibility. Consider a secured credit card to rebuild credit gradually. Additionally, work with a financial advisor to create a plan for debt repayment. While a lower credit score may pose challenges, taking proactive measures can positively impact your eligibility for a real estate transaction, over time. While a lower credit score may pose challenges, taking proactive measures can positively impact your eligibility for a real estate transaction.

Start this process by obtaining a copy of your credit report to identify areas for improvement. Focus on paying bills on time, reduce card balances, and avoid opening new credit accounts. If possible, work with creditors to negotiate and settle outstanding debts. Consistency is key- gradual improvement is realistic.

If you would like to speak further about your real estate needs, please do not hesitate to reach out!