Thread by @ThemOnPrime

CEO and award winning real estate broker @EgyptSaidSo is taking over #THEM’s Twitter to host a conversation about #RaceAndRealEstate. Follow along NOW.

QUESTION 1:
What do you do? What is your background in terms of real estate?
#RaceAndRealEstate

I am @EgyptSaidSo, Host of @HGTV’s @_PropertyVirgin & @FlippingVirgins. I am also a Real Estate Broker in Atlanta, GA and CEO of Egypt Sherrod Real Estate Group. Real estate is a business that I love, and I have been licensed for almost 18 years. #RaceAndRealEstate

QUESTION 2:
What does the current real estate market look like right now?
#RaceAndRealEstate

The national real estate market is red hot at the moment. It’s mostly a seller’s market. Bidding wars are abound at every price point. That is due to a shortage of inventory, which means there are not enough homes for the amount of people looking to buy. #RaceAndRealEstate

Supply and demand always determine if it’s a sellers or buyer’s market. The scarcity and cost of building supplies is really playing a big part in the current market conditions. Builders haven’t been able to turn homes over quick enough.
#RaceAndRealEstate

And with interest rates being low, there are a lot of buyers right now, just not enough homes being made available.
#RaceAndRealEstate

QUESTION 3:
Why is race such an important topic in regards to real estate?
#RaceAndRealEstate

I think race is an important topic in America as a whole. Racism in real estate has always existed. The new Amazon Prime series “Them” highlights blatant racism. Just because the racism is not as overt as it was back then, does not mean it no longer exists.
#RaceAndRealEstate

It definitely still exists, it’s just done differently now… gentrification, development planning that excludes affordable housing and displaces communities of color.
#RaceAndRealEstate

QUESTION 4:
How does this subject matter personally resonate with you?
#RaceAndRealEstate

As a black female real estate broker, of course this resonates with me. There have been occasions where my clients have felt that because they were Black they didn’t get their offer chosen, they were given higher interest rates, or lines of credit were closed. #RaceAndRealEstate

They believed these actions were taken without their request or permission, therefore negatively impacting their debt to credit ratio and sinking their credit scores. Lower credit scores result in higher interest rates on mortgages or deny mortgages altogether. #RaceAndRealEstate