Gary Acosta, NAHREP co-founder and CEO’s USA Today featured statement on NAR verdict on sales commissions
Gary Acosta warns of disparities for minority, particularly Hispanic, buyers post-recent lawsuit, stressing the importance of culturally competent buyer-side agents.
November 2, 2023
Minority buyers, especially those who are Hispanic, may encounter an uneven playing field in light of the recent lawsuit and verdict, said Gary Acosta, co-founder and CEO of the National Association of Hispanic Real Estate Professionals.
Changes may potentially give listing representatives “an undue advantage in transactions,” Acosta said.
“Buyer-side agents, often sharing their clients’ cultural backgrounds, offer culturally competent representation, language access, and invaluable homebuyer education built on personal relationships,” Acosta said. “With Hispanics projected to contribute to 70% of homeownership growth over the next two decades, any disparities in the market could hinder progress. The vitality of the residential real estate market hinges on robust buyer-side guidance and representation.”
The National Association of Hispanic Real Estate Professionals® (NAHREP®), a nonprofit 501(c)6 trade association, is dedicated to advancing sustainable homeownership for the Hispanic community in America. NAHREP has a network of over 40,000 real estate professionals and 100 local chapters nationwide, hosting several national events per year and publishing multiple industry cornerstone reports annually and multimedia content. Join us in advocating for policies that grow sustainable Latino homeownership, read our 2023 policy priorities here.