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How to Create a DEI Policy for Your Business

April 12, 2021

Smart real estate brokerages are creating policies to illustrate their commitment to diversity and inclusion as well as serve as a leader in their communities, according to the latest “Window to the Law” video produced by the National Association of REALTORS®. To commemorate Fair Housing Month, NAR’s legal team offers a closer look at the elements needed to create a company diversity, equity, and inclusion policy.

“Implementing a diversity and inclusion program not only makes good business sense, it can also further your business’ compliance with existing laws and promote a culture that welcomes everyone and even help grow your business,” Charlie Lee, senior counsel at NAR, says in the video. A good DEI policy goes beyond what the law may require and can help your brokerage avoid legal issues related to discrimination, harassment, and fair housing, he notes.

Lee suggests including the following in your company’s diversity, equity, and inclusion policy:

  • Create a task force of leaders, workers, and consultants to provide insights of what your organization has done well and in which areas it can improve.
  • Understand the differences between diversity, equity, and inclusion, and create values and guidelines to reflect each of these areas.
  • Identify actionable items to ensure your workplace better reflects diversity. Consider the vendors you use and whether you share their values.
  • Add staff training and development tools to help achieve your DEI mission. For example, NAR offers the At Home with Diversity certification, online fair housing simulation tools like Fairhaven, and implicit bias training.
  • Check in on how you’re doing. Create a new position or assign a task to an existing employee to serve as your “DEI champion” to monitor your brokerage’s progress and goals.
Creating a Diversity, Equity & Inclusion Policy,” Window to the Law/National Association of REALTORS® (April 2021)