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Real Estate Associate Program (REAP) – Bridging the Gap for Minority Professionals into Commercial Real Estate

Social Capitale - Real Estate Associate Program (REAP)Minorities and women are historically under-represented in the Commercial Real Estate Industry.  In fact, according to a recent survey conducted by the National Association of Realtors, minorities account for a very dismal six percent (6%) of this multi-billion dollar industry.  Specifically,  according to the National Association of Realtors 2012 Profile report, 24% of its members identified themselves as women.  With respect to ethnicity, Asian/Pacific Islanders and Latino/Hispanics each account for four percent of commercial members while Black/African Americans account for two percent.

If you have a passion for commercial real estate and are seeking inroads into the industry REAP is for you.

What many other corporations realized and began to address decades ago poses a significant challenge for those companies and organizations in the commercial real estate industry today – to compete in tomorrow’s arena, diversity of it’s workforce will be critical to its future success.

The Real Estate Associate Program, better known as REAP, is helping to facilitate this need by acting as the bridge for minorities to enter the commercial real estate world.

The Real Estate Associate Program REAP is a non-profit organization dedicated to attracting and cultivating professional minorities into the commercial real estate industry through intensive training, workshops, professional gatherings and job placement.  Currently, REAP offers its program in Atlanta, Washington D.C., Los Angeles and New York.  The REAP programs consists of 26 on-site class curriculum on the fundamentals of commercial real estate, led by senior and highly successful senior real estate professionals .

The areas of the fundamentals taught are:

Financial Analysis, Valuation and Budgeting
Asset Management/Property Management
Brokerage/Investment Sales
Development
Market Analysis; and
Leasing and Lease Analysis.

At times, various classes and site visits are led by senior executives of its sponsors such as Wal-Mart Realty, McDonald’s and the Simon Property Group to name a few who provide first hand experience and insight into the material and equally important, offer direct first-hand access to those enthusiastic individuals who are seeking  to join their organization!  REAP has at times partnered with other organizations such as African American Real Estate Professionals of NY (AAREPNY) and National Association of Hispanic Real Estate Professionals (NAHREP).

Although it’s doors are always open, REAP offers is official training $500 induction class in one of it’s four hosting cities early spring, February-May, and fall, September-December.  As a personal member of the REAP Class of 2010, I highly recommend anyone with a passion in real estate, regardless of background to become a future graduate and member.

Perhaps you know of other organizations helping those enter into the ranks of commercial real estate, consulting, investment banking, education, healthcare, sales, etc.  Please pass on the knowledge for others who may be able to benefit from it!

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