On Saturday, November 16, the National Association of Real Estate Brokers (NAREB) will be hosting an inspiring and educational event, providing vital information to the Black community on how to gain wealth.
The Atlanta stop on the NAREB Building Black Wealth Tour is at 10 a.m. at New Birth Missionary Baptist Church, 6400 Woodrow Road, Stonecrest, GA 30038. The event will provide opportunities for the Black community to learn how to buy a home, invest in real estate, and navigate the inheritance process, also known as ‘What to do with Big Mama’s House?’ There will be counseling sessions with a lawyer, certified housing counselor, NAREB real estate agents known as Realtists, and mortgage lenders.
Dr. Jamal Bryant, the senior pastor at New Birth, is the esteemed host for the event. He will be joined by distinguished speakers, including Dr. Courtney Johnson Rose, NAREB President; Arche Emerson, local President of the Empire Board of Realtists; Cynthia Crawford, President of the Metro South Atlanta Realtists; Attorney Wiley S. Adams, President of the National Bar Association; and Jazzmin Cobble, Mayor of Stonecrest, GA.
“Our Building Black Wealth events address systemic racism and discrimination by providing opportunities for education, networking, and access to resources that have historically been denied to our communities,” said Dr. Rose. “NAREB facilitates economic empowerment and wealth-building. Our tour events aim to dismantle barriers that prevent Black families and individuals from building intergenerational wealth and improving their quality of life.”
Mayor Cobble agreed that the Black Wealth Tour would help area residents overcome the historic challenges affecting Black homeownership. “While redlining is against the law today, it has had long-lasting effects on some Black communities,” she said. “Its legacy persists, impacting generational wealth and homeownership opportunities. Additionally, discriminatory lending practices and disparities in income levels further exacerbate the issue. The Black Wealth Tour provides resources and information to help families and individuals create wealth and generate more family economic security.”
The Building Black Wealth Tour showcases the knowledge of experts in multiple fields, such as real estate, inheritance, investing, and personal finance. Our experts are highly qualified and experienced, offering counseling, valuable insights, and practical advice to Black families and individuals at our events nationwide.
NAREB launched the Building Black Wealth Tour in the fall of 2023 to address the expanding Black-White Wealth gap in the U.S. The NAREB State of Housing in Black America Report found that the Black-White wealth gap is so expansive across the United States that the 400 wealthiest Americans control the same wealth as all 48 million Blacks living in the country. The wealth imbalances perpetuate America’s racial disparities in housing, education, employment, income, and health that create inequitable communities nationwide. The median wealth for White households is $188,200, compared to $24,100 for Black families.
Through various workshops, interactive sessions, and one-on-one counseling, NAREB Black Wealth Tour attendees receive the knowledge needed to build a pathway to family economic security. NAREB brings this data and information to our communities, where families and individuals can use it to chart new futures, including intergenerational wealth and the benefits of homeownership. The NAREB Black Wealth Tour can catalyze change. For too long, the Black community has lacked the resources and intergenerational wealth of other communities. NAREB seeks to end these disparities and help Black communities thrive.
The collaboration presenting the Building Black Wealth Tour is a testament to the unity and shared commitment of various organizations. The Church Of God In Christ, Inc (COGIC), the African American Mayors Association, the National Bar Association, Delta Sigma Theta Sorority, Alpha Phi Alpha Fraternity, and Phi Beta Sigma Fraternity have all come together to support this cause. Major sponsors include Wells Fargo, Fannie Mae, and Rate. The HUD-approved NID Housing Counseling Agency has provided housing counseling services and free credit reports at the events.
Craig Worsham, NAREB’s National Director of Faith-Based & Community Partnerships, said religious leaders, like Dr. Bryant at New Birth, play critical roles by allowing church facilities for Wealth Tour activities. “The church is a safe space for the community and parishioners, particularly when they already have a footprint in the community and are known as a resource hub. Many churches have expansive facilities, including gyms, classrooms, and large auditoriums, making it a perfect location for NAREB Wealth Building Tour events.”
Camilo Escalante, Executive Director of Diverse Segments at Rate, which is a major sponsor, said that as one of the leading mortgage lenders in the country, Rate believes that Black homeownership is directly tied to the prosperity of our nation.
“That’s why it’s critical for us to reach our Black communities with financial education and our many mortgage products that enable homeownership,” said Escalante. “For over 20 years Rate has an incredible reputation for delivering great technology, service and products, which includes everything from Downpayment Assistance Programs suited for First Time Homebuyers, to mortgage products suited for income earners with complex tax statements or self-employed borrowers. That’s why we’re so proud to partner with NAREB and so many other wonderful organizations to sponsor the Building Black Wealth Tour in Atlanta and educate thousands of prospective homebuyers on how to build generational wealth through homeownership. As stated in the SHIBA report, the rate of Black homeownership is in decline, and we at Rate applaud NAREB for spearheading this educational effort to directly address this issue that’s important to all of us. We will also have multiple Loan Officers onsite ready to answer questions from attendees”
In 2024, NAREB established April 13 as National Building Black Wealth Day. More than 25,000 people flocked to events nationwide in over 100 cities! Seminars and one-on-one sessions presented various topics, from homeownership and property investment to business startups and other wealth-building opportunities. Each location drew an impressive average of 200 to 250 attendees, with an additional 2,000 individuals signing up for virtual sessions via Zoom. Notable figures graced the events, including Chance the Rapper in Chicago and Mount Vernon Mayor Shawyn Patterson-Howard. Mayor Howard, who also serves as the President of the African American Mayors Association, headlined the event in her city.
Even President Joe Biden was impressed. In a letter to the NAREB, the President applauds the NAREB Building Black Wealth Tour, saying the organization of predominantly Black real estate professionals is helping “bring us closer to realizing the full promise of America for all Americans.” He adds: “Your work can transform lives and support future generations. As you celebrate this wonderful occasion, I hope you take well-deserved pride in the important role NAREB has played in uplifting communities across the country. I have never been more optimistic about our Nation’s future than I am today, in part because of organizations like NAREB promoting fairness and equity for all. As you look to the incredible opportunities ahead, I wish you continued success for years.”
NAREB recognizes that increasing Black homeownership will require a multifaceted approach that addresses financial and systemic barriers and provides families and individuals with the information, resources, and tools they need.
“We know increasing wealth-building capabilities is crucial to the future economic security of our families,” Dr. Rose said. “To empower Black families, they must better understand household budgeting, credit management, and mortgage options. We know that down payment assistance and low-interest loans targeted at minority buyers can alleviate some economic constraints. However, families must know where to go and how to activate these programs. Too many people in our communities don’t know where to turn. That’s why NAREB Black Wealth Tour is so important.”
This year, the NAREB Building Black Wealth Day will be held on April 12, 2025, with the host event in St. Louis, Missouri, and sessions will be available via streaming.
