On the surface, the topic of Fair Housing seems relatively simple. For those who call themselves REALTORS®, fair housing is an important set of guidelines, rights and penalties. It’s also important to point out that fair housing is always a part of continuing education requirements.
Diving deeper, it becomes clear that fair housing is essential because the real estate market in general depends on a free, open market with equal opportunities for all. Enacted in 1968 as a part of the Civil Rights Act, the Fair Housing Act prohibits discrimination pertaining to the sale, rental, and financing of housing based on race, religion, national origin, sex, (and as amended) handicap and familial status.
Sounds easy enough, but ensuring that it is adhered to in practice is more complicated than it may seem at first glance. That is why the leadership of the National Association of REALTORS® (NAR) met in 2020 to pass a new Fair Housing Action Plan, abbreviated ‘ACT,’ to ensure that the organization would be able to more effectively advocate on national fair housing policy. Key components of the Fair Housing Action Plan put out by the NAR include:
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The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.