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Noted black real estate figures

As Black History Month comes to a close, I wanted to talk about a few important African-American figures in real estate history.

Real estate began as a predominantly white profession. It was primarily dominated by white men in the 19th and 20th centuries, with a small number of white women becoming agents in the early 20th century.

During this time, there was much prejudice and inequality toward African Americans. Most of the country was segregated, and blacks were denied basic rights that many of us now take for granted. However, in a profession that began as predominately white, these important figures I want to discuss helped inspire and pave the way for others like them.

The first person I want to mention was a woman named Biddy Mason. She was the first noted black female real estate agent. She also became what we call today a real estate mogul, amassing a number of properties and wealth by the time of her death in 1891.

Biddy Mason was born into slavery in Georgia in 1818. As an adult, the family she worked for moved to Southern California. In California, their laws made provisions for freedom for African Americans. However, when she decided to move out of state with her family, her freedom was challenged.

Her case for freedom made it through the courts, and in 1856 at age 38, she was declared free. As a slave, she had learned nursing and midwife skills. As a free woman, she worked as a nurse and midwife saving for her first property, which she purchased in 1866.

Mason, over the years, bought and sold many properties. At the time of her death in 1891, she was one of the wealthiest women in Los Angeles. She defied all odds and led the way not only for her race, but also for women.

The next person is Phillip A. Payton Jr., the first noted black male real estate agent who later became known as the “Father of Harlem,” a neighborhood in New York City. Phillip Payton Jr. was born in Massachusetts in 1876. As a young man, he moved to New York City to make a better life for himself.

Payton Jr. learned the real estate business while working as a porter in a real estate office. He then opened up his firm, which at first was unsuccessful. A couple of years later, things started to turn around, and he was able to purchase and manage apartment buildings.

In 1904, with the help of affluent black men, he formed a new real estate firm, selling shares of the company to raise money. He appealed to black investors to help improve housing availability for black families. Over the years, Payton Jr. bought and managed real estate, making much-needed housing available to black families in the city.

By 1914, three-quarters of the black population of New York City, including black people of prominence, lived in the neighborhood of Harlem. Even after his death, his real estate company continued and worked to fulfill Payton’s dream of making the Harlem neighborhood a political and cultural capital for African Americans in the area.

Lastly, I wanted to mention Ben Slayton, the first black member of the National Association of Realtors. He has spent over 56 years in the real estate and mortgage industry. He was the first black man to be accepted as a franchisee broker-owner of Century 21. He was also the first of his race to be approved by Freddie Mac as a Multifamily Program Plus seller/servicer.

Currently, he works as CEO of the largest black-led lender in the United States, Legacy Home Loans. Slayton grew up in a time where segregation was a way of life, and many African Americans were denied decent housing and education. A Jewish family “adopted” him and taught him the real estate and mortgage business as a young man.

However, to join a board of Realtors, one had to be sponsored. Most Realtors would not sponsor him because of his race and their peers’ criticism. However, his adopted family found someone to sponsor him at the cost of $5,000 in 1964, when he became the first black Realtor in America.

Over the next 50-plus years, Ben worked in the real estate and mortgage fields, building several mortgage and mortgage-related companies he sold to publicly traded companies. Today he is the CEO of Legacy Home Loans in Las Vegas, which focuses on providing home loans to the African-American community.

He started the company to help address the 30 percent homeownership gap between black and white Americans. How does the 30 percent homeownership gap translate? For every 10 black families, only four own the homes in which they live. This is compared to 7 out of 10 white families owning the homes they live in. Slayton’s company is licensed in 38 states and is building branches in communities that have at least 25 percent of their population as African American.

In conclusion, we learned that you can achieve your goals with hard work and perseverance. The people I mentioned rose above their circumstances and worked hard and succeeded. They defied the social norms of their time, not letting it stop them, and went on to be great examples in their communities.

Marlin Palich is the president of Stark Trumbull Area Realtors, which serves Stark, Carroll and Trumbull counties.

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