Over the past year, the real estate industry has been embroiled in heated debates over private listing networks, the integration of multiple listing services (MLS), and who has the final say on how listing data is displayed and distributed.
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For Ashley Thomas, president of the National Association of Realtors, there is important context that is often overlooked. It’s decades of discrimination etched into every aspect of real estate, leading to lower access to mortgages and financial assistance, slower home price appreciation, persistent valuation bias, and widening disparities in homeownership.
“For the first 70 years of the organized real estate industry, we [listing system] “It wasn’t inclusive. Black people in particular didn’t have access to that list. So we understand very well what it means to be on the outside and try to be on the inside… We’re not saying we intend to discriminate or redline,” he said. [of PLNs]but that’s the result. And the results are untenable. ”
Thomas said June 14 and Independence Day are the perfect time to discuss and address the historical context behind many of the topics that are front and center today, such as housing affordability, artificial intelligence, and maintaining a transparent multiple listing system. The NAREB president said both holidays are a reminder of Black Americans’ struggle for freedom and equality, which has always included access to real estate.
Black Americans built towns and communities despite broken promises, including the failure of Reconstruction-era programs that would have given land ownership to some slave families who worked without pay for centuries.
Racist laws further complicate the push for equality, with black Americans being controlled over every aspect of public life, from the schools they attend, the restaurants they eat in, and the neighborhoods they buy homes in.
The Fair Housing Act and the Civil Rights Act changed the playing field for Black Americans and many other minority groups. But Thomas said discrimination remains pervasive in American society, especially in the real estate industry.
“I believe in the American dream of homeownership. It’s key to what we do as an organization and how we move forward. But even in 2026, financial institutions will still be subject to fines and fines for redlining,” he said. “As we mark Juneteenth and begin celebrating America’s 250th anniversary, it’s time to remember the barriers that still exist. I think it’s time for lawmakers, practitioners, and industry to seriously address these issues.”
Ashley Thomas III |Credit: NARE
Thomas said fighting discrimination is a multifaceted effort that includes addressing housing affordability, accessing mortgages and financial assistance, building fair technology systems, and maintaining a transparent Multiple Listing Service (MLS), which is key to maintaining fair housing.
“The more time passes and discriminatory policies and systems are left unchecked, the more opportunities for black communities are eroded,” he says. “The wealth gap and the homeownership gap will continue to widen. We must address it now.”
The following conversation has been edited for length and clarity.
Inman: Thank you for your time this morning. I have read about you and your journey in real estate and would like to learn more about your tenure as the leader of NAREB. what is your mission?
Thomas: Of course. I have been in this industry for about 27 years. I started in services and origination, trying to help families start their homeownership journey on the right path rather than helping them on the back end of trying to save their home from foreclosure or something like that. I have been a NAREB member for over 16 years and have the wonderful opportunity to serve as National President for the next two years. I joined the company on August 25th.
There’s a lot going on in the industry right now, especially regarding MLS integration, private listing networks, and who ultimately controls the listing data. What does NAREB think about MLS integration and PLN? What does the data say about PLN, and how is it impacting Black consumers today?
Our position is very clear. Transparency is fair housing. do [PLNs] Does it pose a risk to Black buyers, Black sellers, Black agents? Absolutely. No need to guess it.
Zillow released a great report last November looking at the Chicago area. Predominantly white neighborhoods were more than twice as likely to have private properties than black neighborhoods. I think this is an unexpected result, but in this age of technology, you have to be very careful about unintended consequences.
We are not saying we intend to discriminate or redline. [of PLNs]but that’s the result. And the results are untenable.
That reminded me of an article I wrote in 2021 about pocket listings, a term that was commonly used at the time. And the experts I spoke with explained that despite the advent of fair housing, our market is still affected by decades of discriminatory real estate policies.
What do you think agents need to understand about the history of these policies when deciding how to approach the listing options presented to them?
When we talk about private listings and internal brokerage listings, we really have to look at the history of “The List.”
For the first 70 years of the organized real estate industry, we [listing system] It wasn’t comprehensive. We understand very well what it means to be on the outside and try to be on the inside, especially since black people didn’t have access to that list. And I think that’s being recreated today through technology.
There are so many opportunities our community didn’t have, and the effects are still being felt. As a result, generations struggle to build wealth and equity is lost. Now is a great time to talk about this, especially as Juneteenth approaches and we celebrate the meaning of the holiday.
Some people didn’t know it was free (read more about the history of Juneteenth here). And for decades, Black buyers and sellers were excluded from lists they didn’t know existed. So there are some similarities, but we’re very invested in making sure they don’t exist.
So, again, transparency is fair housing. The more transparent, the better for everyone involved.
What are the risks for Black real estate professionals? How will increased consolidation and movement toward PLN impact PLN?
We don’t really focus on integration, whether it’s 800 companies, 500 companies, 3 companies, 1 company. What matters is who manages the system and under what conditions. Are individual brokerages controlling the system, displacing many independent brokerages? Approximately 70% of our members belong to independent brokerage firms, so this trend is of great concern to us.
I have a son. He is 25 years old in the industry. very challenging [for Black professionals] In fact, the same home he listed for sale in a black neighborhood was undervalued by 20 percent compared to the exact same home in a white neighborhood. This means his income will be 20% less because he will be paid based on the sales price.
So if you’re getting paid less, you’re getting less work, and there’s a system that we’ve created to keep you away from opportunities, that’s very dangerous for our entire industry, and I think anyone who understands fair housing and fair practices would agree with that.
Before making the call, I researched the history of NAREB and how it was founded to fill the void of Black professionals who were excluded from NAR. Can you tell us a little more about NAREB’s journey as an organization and how it has impacted the Black community specifically?
In 1947, our company was founded on the core principles of democratic housing: everyone should be allowed access to the American Dream. However, it was not until after the assassination of Dr. Martin Luther King Jr. that the Fair Housing Act was able to be passed.
But since then, the gap in homeownership rates has only widened, with black homeownership rates now about 30 percentage points lower than white homeownership rates.
And NAREB is at the forefront of bridging that gap, with a focus on tackling bias through technology. If the data entered into a system is biased, that’s exactly what will come out of the system. Look at the fight to fix the rating system.
I’m glad you covered technology, another big topic this year. Despite some opposition to data centers, they are primarily built in low-income, majority-minority communities. Additionally, there are concerns about establishing appropriate guardrails for the use of AI, especially as companies incorporate technology into every part of the transaction, from finding a home to closing.
How has AI impacted NAREB’s mission to ensure equity in technology?
I think sometimes when we talk about fair housing, we get a little discouraged and sometimes weary because it’s a moving target. Just when you think you’ve accomplished something, a new challenge appears. Our theme this year is Closing the Gap through Advocacy, Affordability, and Access. Access is very important.
We’re talking about access to capital, and now we’re even talking about access to technological systems that are built to exclude certain segments of the population. We’re talking about access to MLS, we’re talking about access to fair valuations, and even though the spotlight on social media has waned, it’s still an issue.
We are working on policies to improve our evaluation process. We are constantly reaching across the aisle to make sure everyone is included in this event. Housing is a human rights issue and should not be partisan.
What do you think about the 21st Century ROAD to Housing Act? What parts of the bill are you particularly excited about, and what parts do you think need to be improved or removed?
This bill as a whole is one that we support. Obviously, if you bring more inventory to the market, you can lower the price. One of the biggest challenges we have right now is affordability. Additionally, people of color, especially Black people, face income disparities in the United States, making them less competitive for available properties.
So being able to increase inventory is something we very much support. However, you will need to have access to additional inventory. We are concerned about down payment assistance and helping first-generation homebuyers navigate the market.
I live in Los Angeles, and many people, especially young people just out of college, do everything right and still can’t afford to buy their first home. Or you’re forced to travel and commute an hour or two. [back to LA].
This is a big challenge for any family and we have done a lot of work. We took an affordable housing bus tour and we were actually right down your street in Tulsa. Black people make up 14 percent of the population, but they originate only 8 percent of home loans. The same goes for Gary, Ind., and Memphis, Tenn., areas where the majority of the population lags in access to mortgages.
Inventory without access is of no use to the community.
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