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Tag Archives: #ImplicitBias
Unraveling Implicit Bias in Real Estate: A Subtle Influence on the Housing Market π
Implicit bias, an unconscious prejudice, subtly impacts the real estate market, influencing property appraisals, tenant selections, and lending practices. For instance, a property might be undervalued due to its location in a predominantly non-white neighborhood, not based on its actual worth, but influenced by the agent’s internalized perceptions. To mitigate such biases, it’s crucial to provide education and training for real estate professionals π, implement objective decision-making criteria π, foster diversity and inclusion π, and ensure strict compliance with fair housing laws β . By doing so, we can promote a more equitable real estate industry ποΈπ«. Continue reading →