National Association of Real Estate Brokers (NAREB)

“Democracy in Housing” is the mission for one of the oldest minority trade associations in the country, the National Association of Real Estate Brokers (NAREB), founded in 1947. 

While on the forefront of equal opportunity in housing, the staggering reality is the Black homeownership rate is not far above the rate of 40.9 percent at the time of the 1968 passage of the Fair Housing Act, according to the 2019 State of Housing in Black America (SHIBA) report. 

The U.S. Census third quarter report released in October showed the Black homeownership rate increased to 42.7 percent, up 2.1 percent, compared to the second quarter. The rate still lags behind the national average of 64.8 percent and the rate of 73.4 percent for Non-Hispanic White homeownership. 

The Chicago chapter of NAREB, the Dearborn REALTIST® Board, was established in 1941, several years before the national organization. The organization is a leader in economic development related to housing in the Chicago area’s African American community.

Says REALTOR® Courtney Jones, president of Dearborn: “Everybody deserves the privilege and the right to own real estate, live where you want to live and transact real estate.”

Courtney Jones, President of the Dearborn REALTIST® Board, Chicago chapter of the National Association of Real Estate Brokers (NAREB), shares the story of his organization and how getting involved has helped shape leadership and business skills for a successful career in real estate. Get full transcript.

Says Jones: “When you look at things like alternative credit scoring models…that’s something that opens up the credit box, not just for Blacks, it opens it up for everyone.”

“So just at a high level, the State of Housing in Black America really speaks to the advocacy efforts that NAREB is pushing for against some of the key pieces that can prevent families from enjoying the American Dream. Wealth-building is the cornerstone through homeownership of how most Americans get up and running and sustain themselves.”

Benefits of getting involved for new agents

Jones began his real estate career after 19 years in the mortgage industry. By getting involved with Dearborn, Jones credits learning from others and the mentorship to his success in the real estate industry. 

“One of the first things I would advise any new agent to do is listen, ask questions, learn. The more you learn, the less mistakes you’ll make,” says Jones. 

He adds: “Every deal is not going to be worth your time. So I think it’s really critical that for a newer agent…it’s okay to stay steadfast and whatever your business model is, whatever your focus is going to be in real estate, and really hone in and master your craft.” 

It goes back to the mentorship that Jones says is one the biggest reasons to get involved in an organization like NAREB.

“Just attending one membership meeting, you would meet three or four different people in different areas in real estate that you can either refer and do business with,” says Jones. 

NAREB At-a-Glance

Membership: 18,000+

Chapters: 72 chapters across the U.S. and with one Illinois chapter in Chicago (Dearborn REALTIST® Board) 

Mission: “Democracy in Housing”

Membership Fees:  $160 (real estate broker), $135 (affiliate member)

Established: 1947

Visit NAREB to learn more.

Transcript:

Kim Buscher: Hello and welcome to the Illinois YPN Podcast, where members of the REALTORS® Young Professionals Network or YPN, share their tips and resources for your real estate career. I’m Kim Buscher, Illinois REALTORS® staff liaison for our state YPN advisory board. In this episode we’re getting to know the Chicago Dearborn REALTIST®® Board, part of our Industry Partners series where we learn the story of our partner real estate associations and how being involved has helped and improved leadership and business skills. This episode is moderated by Jakeeva Lee, Industry Partners Liaison for Illinois REALTORS®.

Jakeeva Lee:  Hello everyone. Jakeeva Lee here. Welcome to the Illinois REALTORS® YPN Podcast. I’m excited to be here and to be partnering with Illinois YPN making my second appearance. Today’s episode is part two of the topic of our Industry Partners. Our first episode was recorded at the Illinois REALTORS® business meeting just before the successful YPN Industry Partners panel program. I proudly served as moderator of the panel, which included real estate professionals who’ve joined and then gone on to serve in leadership roles for their organizations representing women REALTORS®, the LGBTQ community, African American, Hispanic, and the AAPI real estate professionals. You can catch episode one by searching for Illinois REALTORS® on Apple podcasts or wherever you get your podcasts.

Our focus for episode two today is the Dearborn REALTIST® Board, the Chicago local chapter of the National Association of Real Estate Brokers, otherwise known as NAREB. NAREB was among the first minority professional trade associations in the country and its members have worked on the front lines for equal opportunity and housing with the mantra, “Democracy in housing,” which continues today. We are recording from the offices of the Chicago Association of REALTORS® in downtown Chicago, where I serve as the External Affairs Manager and also oversee Chicago’s Industry Partners Program. Joining me on the podcast today is Courtney Jones, President of the Dearborn REALTIST® Board. So now, let’s get to it. Welcome Courtney. So glad to have you on the Illinois REALTORS®’ YPN Podcast.

Courtney Jones: Thank you for having me. It’s always a great day when I get to see you, Jakeeva Lee.

Jakeeva Lee: Same, same here. I feel the same way. I feel like I’m in the presence of royalty here.

Courtney Jones: Family.

Jakeeva Lee: Yeah, so you ready, Courtney?

Courtney Jones: Let’s get it.

Jakeeva Lee: All right. Okay, so let’s go back to the Fall Business Meetings that occurred last month in September you were on the YPN Industry Partners Panel representing Dearborn and we had about 80 people attending that live program. We want to share more with those that were not in the room about Dearborn and what a REALTIST® means with a wider audience here on the podcast. It’s important because many real estate professionals may not know about the National Association of Real Estate Brokers, otherwise known as NAREB and your Chicago chapter Dearborn. So, for starters, can you tell us about NAREB and Dearborn?

Courtney Jones: Yes, thank you. Awesome segue. Let me first start with, you know, the parent entity, the National Association of Real Estate Brokers founded in 1947 is the lead organization, oldest Black real estate trade association. Okay. In the country. And what I love about our organization is it was founded, you know, on the backs of folks who decided enough is enough already. Everybody deserves the privilege and the right to own real estate, live where you want to live and transact real estate. So NAREB as an advocacy arm, as an education arm, as an activist arm. We can’t thank, as a REALTIST® member from REALTIST® nation, you just can’t thank the organization enough for trailblazing.

Jakeeva Lee: Yeah. Your mantra is democracy and housing and I know the organization was formulated on that mantra, that background, the mist and the mission of that. So can you tell us how and when Dearborn came into play?

Courtney Jones: Yes. Dearborn was founded in 1941 and Dearborn is definitely the oldest. We were founded before NAREB.

Jakeeva Lee: So that’s why it’s called Dearborn instead of the National Association of Real Estate Brokers.

Courtney Jones: Exactly. The history here in Chicago was a very enriching history, along with many of the Black metropolises across the country, where racism and discrimination in public policy and red lining and you name it has showed its face, and Chicago was very ugly, right? So with restrictive covenants here, black families really couldn’t live and own, legally own, real estate outside of a specific geographic area. So hence folks always ask me, “Hey, how did the name Dearborn come about?” And things of that nature, but around the Bronzeville gap, area around 35th King Drive back towards 63rd street area, that area was considered Dearborn.

Jakeeva Lee: So the term REALTIST®® came into play under NAREB can you tell us what a REALTIST® is?

Courtney Jones: Yes, a REALTIST® is really the conscious of real estate, right? So many of us serve our communities at large that we live in, and we really look at deals from the aspect of the profitability and making money like all real estate professionals. But it’s really geared on helping the neighborhoods that we come from. So when you look at the South Side of Chicago, the West Side of Chicago, the different communities where folks of color, Black families live. We’re really indigenous, in terms of operating and practicing where we live. Now that’s not to say that we’re not interested in making money in real estate and doing business at large, but as we’ve seen from the community’s perspective, being about profit first isn’t always what’s best for the neighborhood, for the viability of business and things of that nature.

Jakeeva Lee: Can you tell me and tell us all why did you get involved with Dearborn?

Courtney Jones: My wife Sanina was very active.

Jakeeva Lee: Mrs. Jones.

Courtney Jones: Yes, she was very active in the trade association space and coming with my background, investment background banking background, 19 years, she had, you know, had been telling me about the organization and how I should come out. Well I attended a particular event that took place at the United Center and I met one of the leaders, Gerald McQuirter. So he had invited me out to a couple of events and I just kind of took to the mission of democracy in housing like a fish to water. It’s about us. It’s for us and it’s needed and there’s many of us that has an expertise to pour into the organization. The organization will definitely pour into you.

Jakeeva Lee: You’ve been president of Dearborn for what, the past three years?

Courtney Jones: Yes. This is going into my final year in 2020.

Jakeeva Lee: Your final leg of your presidency tour.

Courtney Jones: Final leg, of the second term.

Jakeeva Lee: Right. And I will say we have seen almost a Dearborn takeover since you’ve been president of that organization. So many new initiatives for the betterment of black communities here in the city of Chicago and across the state of Illinois. And just amazing progress that you’ve made when it comes to policy improvement, advocacy, community wealth building days, your faith-based initiatives and so forth. And it just really has been a movement.

Courtney Jones: Well, Jakeeva, to keep it to that point, I want to say thank you for your kind words, but as we all know, you can’t do none of this without the amazing board support, that I’ve been privileged as board president to have. And then the mentorship. I’m very fortunate. Here in Chicago, we have our past national president and our past board president.

Jakeeva Lee: Mr. Branch. Ronald Branch

Courtney Jones: That’s right. Big Bro. Ronald Branch and his mentorship and just the NAREB Walk. The REALTIST® way has … sped up my learning curve.

Jakeeva Lee: Let’s go back to democracy and housing being at the forefront of economic development and housing in the African American community. Can you share with us some ways Dearborn has advocated for change across the city of Chicago? I know it’s quite a bit and at the state level and/or federal level.

Courtney Jones: Yes, one of the big successes that the organization hangs it hat on is it being a part of that push to do away with restrictive covenants. That in and of itself, the fact that you know you have not just Black families, but all families being able to live anywhere you want in the state of Illinois, city Chicago is to be commended.

Jakeeva Lee: So there is a recent report with the State of Housing in Black America that was recently released is affectionately known as the SHIBA report produced by NAREB and it reported that for non-Hispanic Whites the homeownership rate is 73% compared to the homeownership rate for Blacks, which is 40%. So, what can we do? What is Dearborn doing and what can the industry do as a whole?

Courtney Jones: Well, I love the question, let me first say and if it’s okay, I’m going to start at that 50,000-foot level and kind of work my way down. From an industry standpoint, NAREB and our REALTOR® trade association partners working together through its PAC standpoint, that would be our NATPAC 1947 on the NAREB side of the house, the RPAC side of the house, and really looking at what’s best for communities at large, and not a segment of the community. Right? So when you look at things like alternative credit scoring models, you’ll see that in the SHIBA report, in the update of the SHIBA report, should I say. That’s something that opens up the credit box, not just for Blacks, it opens it up for everyone, which is good for real estate brokers, real estate attorneys, real estate, real estate, real estate. Right?

So, just at a high level, the State of Housing in Black America report really speaks to the advocacy efforts that NAREB is pushing for against some of the key pieces that can prevent families from enjoying the American Dream. Wealth-building is the cornerstone through homeownership of how most Americans get up and running and sustain themselves. It’s no secret that the average renter’s net worth is anywhere between $500 to $5,000, and a homeowner’s net worth is anywhere between $175 to north of $330 in terms of a net worth that just speaks to those that can handle education expenses, small business creation, and just maintaining the property better.

Jakeeva Lee: So I was very excited to attend the national conference this past summer, and I attended the installation gala with president Donnell Williams. He gave his speech, and one thing that really stuck out to me was when he announced Housethenthecar.com.

Courtney Jones: Powerful.

Jakeeva Lee: I thought that was just genius because in a lot of Black and brown communities, there’s nothing like having your first car. i literally got my license and I got my car the same day and you couldn’t tell me anything. I was still living with my parents, but the fact that I had a car, I’m just like, “oh my independence.” 

Courtney Jones: You’ve arrived.

Jakeeva Lee: Yeah, I’ve arrived, I can go wherever I want, but I’m still going into my mom’s house, unlocking her door and not even thinking about home ownership. So, but I thought that was just genius housethenthecar.com and I know that’s targeting young millennials. Can you talk a little bit more about that initiative?

Courtney Jones: Yes. I mean, you said it best in genius and this is the brainchild of our national president, Donnell Williams, and he’s built an amazing team around the initiative. And in looking at the millennials across the country, so many of our folks take on this sizeable debt that when they start looking at things like investing in real estate or even their first home purchase, it becomes an anchor around their neck and under his leadership, it’s really about how do we shift the mindset a little bit, because it’s not that the car isn’t important and that there isn’t a utility for it, it’s just how do we kind of align things strategically so that we minimize as many challenges to ownership.

Jakeeva Lee: And as much debt.

Courtney Jones: Yes. And investing in real estate as possible from a cost standpoint or in some cases even an eligibility standpoint.

Jakeeva Lee: So this is YPN, it is a YPN podcast. So let’s switch gears just a little bit and focus on some of the newer agents that are listening. Let’s take it back to when you were a new agent. I know you have a mortgage background, a banking background for 19 years.

Courtney Jones: Correct.

Jakeeva Lee: 19 years. Wow. And now you are the co-owner of Chicago Homes Realty Group. Can you share any insights for the success in your real estate career?

Courtney Jones: Yes, I love it, and this goes back to learning from others and mentorship. So as I’ve spoken about earlier, Sanina was in real estate from a brokerage standpoint before me. She had done a considerable amount of years in the business and I got to brainstorm and talk to her about just things that she was doing that was working and wasn’t working. So one of the first things I would advise any new agent to do is listen, ask questions, learn. The more you learn, the less mistakes you’ll make, right? Two. Every deal is not going to be worth your time. So I think it’s really critical that for a newer agent, and this is transcending to all agents, but in the beginning, I think we’re so eager to get a deal, to get someone willing to work with us, that sometimes we do it at all costs. And I think from what I’ve seen and learned, it’s okay to stay steadfast and whatever your business model is, whatever your focus is going to be in real estate, and really hone in and master your craft.

The best real estate brokers out here today, are the ones that are awesome at diagnosing the opportunity. Is this worth my time? Is this viable? And if so, then let me dig deep to really execute at a high level so that my referral network can grow. And then I would say in closing, it would be don’t underestimate keeping in touch with people that you’ve done business with and then your network. Your sphere of influence. Everywhere you go from the beauty salon to the barber shop, to the faith center you participate in, the gym that you work out in, your social activities, bowling, movies, elevator—don’t hesitate to share with someone what you do and how you can help them.

Jakeeva Lee: Wow. For a newer agent, what would you say are the benefits of getting involved with Dearborn?

Courtney Jones: Oh, I could talk on that for hours. I would just simply say, some of the more pressing things would be the mentorship of agents already in the business/mentorship you’ll meet of the industry segment partners. So if you’re a broker, this one of the only trade associations that’s made up of other aspects of a real estate transaction. So you would meet general contractor/rehabbers and developers. You’d be able to partner with real estate attorneys. You’d be able to meet real estate lawyers, a mortgage banker, housing counselors, down payment assistant agents, escrow agents, title company support. So in just attending one membership meeting, you would meet three or four different people in different areas in real estate that you can either refer and do business with. And then also I think just being part of a trade association that’s fighting for advocacy things, points, subjects, issues that economically and socially impact you, you know? So I think that’s around that purpose piece.

Jakeeva Lee: And your community.

Courtney Jones: Yeah, it’s big.

Jakeeva Lee: So what do you, what does it take to balance a career and industry service?

Courtney Jones: Well, I definitely think balance is a challenge. Oftentimes, you know, depending on the time of year, the issues at hand, it’s very unbalanced. But I think what’s huge is being a part of a group that as you start to find yourself tipping over, having the support of other partners to pull you back.

Jakeeva Lee: All right, so we are coming to a close, but there was a couple of quick questions that I wanted to ask you very quickly. Can anyone join Dearborn REALTIST® Board?

Courtney Jones: Yes. And what I love about that question, and I want to demystify, this is not a cult, it’s not a gang, right? This is a real estate trade association focused on democracy in housing. And just when I look at the board and I’m just so impressed that we have, you know, different religious believers, whether they’re Jewish, Muslim, Christian, you name it, we have different colors and creeds that make up the membership. So if you’re a person in the state of Illinois that believes all people deserve the right to own and transact real estate, this is the organization that you’d want to be a part of.

Jakeeva Lee: And so when someone joins Dearborn, they automatically become a part of NAREB the National headquarters?

Courtney Jones: Yes.

Jakeeva Lee: Okay.

Courtney Jones: Yes, Great question. Okay. Your membership includes.

Jakeeva Lee: It includes it all. Well, I want to thank you, Courtney for your time. This is very valuable information.

Courtney Jones: Thank you, Jakeeva. Anytime we have the privilege of getting the message out about the organization, what the organization stands for, and the beacon of partnership that we’re calling folks to the table. Join, get involved. See what committees we have. See how you can serve. Bring what’s important to you, to the table. You know, because oftentimes what an individual could be battling in and of themselves as an individual can get so much more done when you have a team. So we welcome everyone.

Jakeeva Lee: And what’s the website?

Courtney Jones: It’s the DearbornREALTISTboard.com. And Chicago REALTIST® on Instagram.

Jakeeva Lee: Instagram and Facebook.

Courtney Jones: That’s correct.

Jakeeva Lee: Perfect. Thank you so much Courtney.

Kim Buscher: And with that it’s a wrap. We want to thank Courtney and Jakeeva. You can find links to all of our Industry Partners at www.IllinoisRealtors.org/IndustryPartners. To learn more about the Illinois Young Professionals Network, connect with us on Facebook at Illinois YPN, and you can find YPN online at www.IllinoisRealtors.org/YPN. Illinois YPN is open to all Illinois REALTORS® and it’s free to join. Be sure to check out our series of YPN podcasts geared to help the new agents be successful. You can find episodes on networking, another on “I Wish I Knew Then” about the first year in the business and the Industry Partners. Thanks for tuning in!