BUILDING THE AMERICAN DREAM
When you think of the ‘American Dream’ it usually includes a nice stable job, a house in the suburbs, and a couple of kids. But for many Black Americans, the house in the suburbs may never become reality for them. Barriers to ownership for Black Americans continue to grow as people report instances of discrimination and difficulty understanding the buying process. Myron Rouse, Broker in Charge at Heartland Realty in Greenville NC gives us tips for homebuyers looking to own property.
How did you get started?
My high school friend Chuck Jones suggested that I go into it. I trusted his judgement and I saw that he was having some success in the industry, so I gave it a shot.
Explain the difference between the roles of a Realtor, Broker in Charge, and the Lender
The Real Estate agent’s job is to make the home buying or selling process as smooth as possible by having a vast knowledge in real estate. They should be able to provide information on lenders, attorneys, inspectors and several other vendors involved in the process, as well as have thorough knowledge of the comps in the area, schools, shopping, and other community amenities to say the least.
The Broker in Charge’s duty is to be the Supervisor of other agents in their organization, making sure that policy and procedures are followed and state guidelines are adhered to at all times.
The Lender’s job is to provide the best possible financing options, help clients understand credit and the necessary documents needed to complete the buying process
What is one of the most challenging learning experiences you’ve had as a small business owner
The hardest thing is getting support from your community and building the trust to show people that you are as competent as any other agent they may choose.
What are some tips that can help emerging real estate agents in areas where they are the minority?
Be sure that your family and friends know that you’re getting into the business before you are even licensed. It’s also important to network and promote yourself daily to everyone
What are some of the challenges you see for first time homebuyers, and how do you help them navigate these challenges?
Not understanding all of the obstacles in the homebuying process and not understanding how credit works. The goal is to educate and connect with great lenders to help them with the process.
What can real estate agents and lenders do to empower more homebuyers to have a better understanding of the process of buying and selling property?
Education is key, and all too often consumers depend on the internet for knowledge. But in reality a professional is where they should be getting all of their knowledge.
As a minority in business, do you find it difficult to create a solid extended network outside of your immediate community? What’s your advice for creating a solid network? Yes, because people have the option to use whomever they like to represent them. So sometimes it’s difficult going outside of your immediate circle. One of my first deals was a college friend outside of my community. I’ve had several referrals throughout the years but not at the same rate as others. The best advice for building a solid network is putting your clients interests ahead of your own
How can people contact you?