NAHREP founder Gary Acosta on how the NAR settlement impacts Latinos

In today’s episode, we speak with the co-founder & CEO of the National Association of Hispanic Real Estate Professionals (NAHREP), Gary Acosta. Gary is a real estate and mortgage entrepreneur, public policy advocate, investor, and advisor, who has served on boards for several Fortune 500 companies including Fannie Mae, Freddie Mac and JP Morgan Chase.

Tracey and Gary’s conversation focuses on Gary’s career passion: the health of Hispanic and Latino homebuyers in today’s market. They discuss the impact of the NAR settlement on Hispanic agents and homebuyers and how broker cooperation benefits first-time homebuyers. They also talk about takeaways from NAHREP’s State of Hispanic Homeownership Report and the priorities that NAHREP is focusing on as they see more opportunities in the changing market. 

Here’s a glimpse of what you’ll learn:

• The NAR settlement and potential changes to broker cooperation could have a disproportionate impact on Latino real estate agents and first-time homebuyers.
• The Latino community has shown resiliency and has rising income and education levels, making them an important demographic for the real estate industry.
• The NAHREP Homeownership Report highlights the increasing homeownership rate among Hispanics and their mobility to affordable markets.
• NAHREP’s priorities include housing affordability, access to credit, and diversity in the industry.
• Opportunities in the real estate market lie in the changing dynamics of the industry, such as remote work and advancements in technology.

Here’s a small preview of today’s interview. The transcript below has been lightly edited for length and clarity:

Tracey Velt: What excites you the most about the real estate industry moving forward?

Gary Acosta: Anytime there’s change, there’s opportunity. We are creatures of habit. We’re uncomfortable with change and especially significant change. We like things to be predictable. But those of us that are more entrepreneurial see that there are always opportunities when there is change.

There’s definitely a lot of change happening in the industry, not just from a policy standpoint but also with technology. I think that’s all very exciting. In terms of the industry itself, you know, it is basic math. Every year we add roughly a million new households to the United States. Those people need a place to live. The demand for home ownership and demand for housing is only going to increase in the coming years. Those of us that are in the industry and well situated and understand some of those trends, I think are going to do very well in the coming years.

The RealTrending podcast features the brightest minds in real estate. Every week, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.