What is an example of steering in real estate?
Steering occurs, for example, when real estate agents do not tell buyers about available properties that meet their criteria, or express views about communities, with the purpose of directing buyers away from or towards certain neighborhoods due to their race or other protected characteristic.
What is the difference between steering and redlining?
Steering is the illegal practice of channeling home seekers to particular areas, either to maintain the homogeneity of an area or to change the character of an area, which limits their choices of where they can live. It is a form of redlining.
What is blockbusting and racial steering?
Scholars of housing segregation have described blockbusting as a tool of racial capitalism. … Racial steering was disguised by coded terms for projected risk like “inner city,” “urban,” and later, “subprime,” cementing the underfunding of public schools and wealth stratification.
What is the difference between steering and blockbusting in real estate?
Steering is guiding, encouraging, or inducing people in some way to move to or stay away from a certain area or neighborhood, and it’s illegal. Overt steering is easy to understand and avoid. … For example, if a couple asks to be shown houses “only in White neighborhoods” you can’t accommodate them.
Which situation is an example of steering?
Steering is when a real estate agent influences a homebuyer to purchase in certain communities based on their race, therefore limiting the buyer’s choices. Let’s look at a hypothetical example of steering: a white buyer and a Black buyer approach the same real estate agent looking to buy homes.
What is steering in leasing?
In its most basic form, steering refers to situations in which landlords discourage people from renting apartments at their property for a discriminatory reason. This is a violation of the Fair Housing Act (FHA), even if a landlord hasn’t imposed an outright ban on renting to certain types of people.
What is reverse redlining in real estate?
Reverse redlining is the practice of targeting neighborhoods (mostly non-white) for higher prices or lending on unfair terms such as predatory lending of subprime mortgages.
What is the best strategy to use when dealing with a tester?
What is the best strategy to use when dealing with a tester? Treat the tester as any other buyer.
What is another name for blockbusting in real estate?
First and foremost, blockbusting, also sometimes referred to as “panic selling,” is a discriminatory and illegal real estate practice. It involves convincing property owners to sell their homes based on the assumption that a new neighbor will change the socio-economic makeup of the neighborhood.
Does blockbusting still exist?
“Blockbusting” has been illegal since the Fair Housing Act of 1968. Yet racial segregation remains a “defining feature of American cities.” “Blockbusting” emerged as a result. Mortgage brokers who had previously served as the gatekeepers of racial segregation became profiteering agents of racial transition.
What is the opposite of steering real estate?
From Wikipedia, the free encyclopedia. Racial steering refers to the practice in which real estate brokers guide prospective home buyers towards or away from certain neighborhoods based on their race.