Photo courtesy of the National Association of Real Estate Brokers

This week, the National Association for the Advancement of Colored People and the National Association of Real Estate Brokers announced a joint effort focused on ensuring black individuals and families have access to financial education, appropriate financial products, counseling services, and financial assistance — all in an effort to increase the wealth of black people through property ownership.

To show their commitment to this initiative, leaders of the two groups signed a memorandum of understanding that acknowledged the strengthened and expanded relationship between the NAACP and NAREB. Each institution’s certified office branches will be able to offer their services and resources to their clients. 

The empowerment program will also allow the organizations to offer a variety of other programs such as targeted market research, homeownership events, targeted multimedia public service announcements, and a referral network of real estate professionals.

NAREB was originally formed in 1948 with the goal of bolstering housing opportunity for all Americans, regardless of race, creed or color. The organization recently noted some positive news about rising levels of black homeownership, though the percentage still lags that of white and Hispanic groups. In addition to their lobbying efforts in favor of fair housing and access to credit for black Americans, the association has also launched 2MN5, which seeks to add 2 million new black people to the overall tally of homeowners in the next five years. 

“NAREB stands together with the NAACP in this commitment to our members, leaders, and most importantly, our clients and constituents,” NAREB President Donnell Williams said in a press release. “This agreement demonstrates the power of relationships through partnership. Our members are the commanders and guardians of our communities and this [memorandum] will provide the template, framework, and formula for successful collaboration which will create positive change nationally and globally. We must work together to organize and strategize our efforts.”