REimagined: Making Diversity in Real Estate a Reality
What is REimagined?
REimagined is a national diversity and workforce development initiative spearheaded by the Alabama Center for Real Estate to create equity in the real estate industry through educational and economic opportunities. The mission of REimagined is to empower more than 100,000 young adults in the field of real estate by 2030, by partnering with the real estate industry to deliver programs that enable diverse populations to transition into a life and career they love.
Why is REimagined important?
While industries like healthcare and technology have been quick to adapt and embrace a diverse population and workforce, the real estate industry is lagging. Census Bureau data finds 83.4% of real estate brokers and sales agents to be white, as compared to a 60% share of the entire U.S. population, while only 6% of real estate brokers and sales agents are black, as compared to 13.4% of the entire U.S. population.
Considering this racial disparity coupled with the U.S. Census Bureau’s prediction that the majority population of the U.S. will be nonwhite as early as 2045, it is crucial to close the diversity and equality gaps in the real estate industry as quickly as possible. Further, studies have shown that diverse workgroups outperform peer groups financially and creatively, and are more effective problem solvers.
What’s it going to take?
Dr. Amanda Ross, associate professor of economics at the Culverhouse College of Business at The University of Alabama, reviewed industry and federal demographic and economic data to determine that it will require an annual influx of 15,000 people from underrepresented groups into residential real estate and another 7,000 from those groups into commercial real estate to achieve parity between the real estate industry and national demographics by 2030.
CORE (Career Opportunities in Real Estate)
What is CORE?
CORE: Career Opportunities in Real Estate is the first introductory course within the REimagined initiative. CORE is an online credentialing program that will provide remote life and skill-based coaching to underrepresented groups, preparing participants for entry-level jobs in the real estate industry under the tenets of awareness, readiness and connection. The primary focus is to create awareness, offer a curriculum that prepares students for entry-level positions and connect the students to meaningful opportunities.
ACRE has partnered with internationally recognized real estate professional Debbie Phillips, Ph.D. to bring her expertise in real estate career exploration to the program curriculum. ACRE has also partnered with the educational technology company LifeRamp, led by founder and CEO Michael Huckaby, to provide live and self-guided content around real estate coupled with the interpersonal skills required to succeed.
The first CORE cohort will launch in Fall 2021 and scholarships will be awarded so that there is no barrier to entry for the program. All students will receive 100% scholarship, funded by the initiative’s partners and sponsors.
Who are we looking to partner with?
We are currently seeking organizations with an interest in diversifying the real estate industry to be part of the REimagined Founder’s Circle. The organization’s logo will be included on the REimagined website and all marketing collateral. Each will assist identifying the best method to market within their geographic area to the targeted students and continuing to identify willing supporters. ACRE will fully assume the workload for marketing and administration of the program.
What is the financial commitment?
The contribution to join the Founder’s Circle is $50K. There is an additional opportunity for sponsorship as part of the exclusive Champions Circle, by selecting one of the support levels that is a multiyear commitment with the Founder’s Circle contribution 100% credited against the formal 2022-2024 pledge.
What sponsorship opportunities are available?
There are four levels of sponsorship: bronze, silver, gold and platinum. Depending on the level of sponsorship, organizations can receive marketing exposure, access to student resumes, priority interviews with program graduates, opportunities to participate with students in class and representation on the REimagined advisory board. We are now accepting pledges for 2022-2024. Annual contribution begins January 2022.
(over 2 years)
(over 3 years)
(over 3 years)
|Logo on all collateral course material, including website|
|Annual Report highlighting milestones|
|Resumes of students will be shared with you|
|Early access to student resumes|
|Opportunity to network with students|
|REimagined Board of Trust Advisors (1 seat)|
|REimagined Board of Trust Advisors (2 seats)|
|Video profile of company on REimagined's platform|
|Priority interviews with program graduates|
|Special event for students exclusive for Platinum Sponsors|
|Opportunities to participate in classes, including VIP Spotlights in weekly virtual classes for all cohorts|