DEI Terminology
To have knowledgeable and effective conversations with others on the topics of DEI and/or fair housing principles, all REALTORS® should learn, accept, and utilize the following terminology:
Diversity — Diversity includes all the ways in which people differ, and it encompasses all the different characteristics that make one individual or group different from another. A broad definition includes not only race, ethnicity and gender — the groups that most often come to mind when the term diversity is used — but also age, national origin, religion, disability, sexual orientation, socioeconomic status, education, marital status, language and physical appearance. It also involves different ideas, perspectives and values.
https://haas.berkeley.edu/equity/industry/efl-knowledge-bank/glossary-of-key-terms/
Equity — An approach based in fairness to ensuring everyone has access to the same opportunities and resources. In practice, it ensures everyone is given equal opportunity to thrive; this means that resources may be divided and shared unequally to make sure that each person can access an opportunity. Equity is therefore not the same thing as equality. Equity takes into account that people have different access to resources because of system of oppression and privilege. Equity seeks to balance that disparity.
https://theavarnagroup.com/wp-content/uploads/2016/01/Vocab-Sheet-v6.pdf
Inclusion — Providing equal opportunity to all people to fully engage themselves in creating an environment and a cultural attitude whereby everyone and every group fits, feels accepted, has value, and is supported by a foundation built on trust and mutual respect.
https://haas.berkeley.edu/equity/industry/efl-knowledge-bank/glossary-of-key-terms/
Implicit Bias — Implicit bias is often a manifestation of muscle memory. A go-with-your-gut unconscious choice, act, or opinion with immeasurable consequences that can–and have–impacted generations.
https://www.nar.realtor/fair-housing/fair-housing-month
Fair Housing Act — The Fair Housing Act protects people from discrimination when they are renting or buying a home, getting a mortgage, seeking housing assistance, or engaging in other housing-related activities.
Disparate Impact — The landmark Fair Housing Act of 1968 outlawed discrimination against people looking to buy or rent a home based on their race, color, religion, sex, familial status, or national origin—and the Supreme Court has ruled more recently that illegal housing discrimination can occur even without intent.
https://www.nar.realtor/disparate-impact
Americans With Disabilities Act (ADA) — Signed into law on July 26, 1990, makes it unlawful to discriminate against people with disabilities.
https://www.nar.realtor/americans-with-disabilities-act-ada
Predatory Lending — In general, refers to loans and lending practices that have one or more of the following features:
very high interest rates and points,
advertising of high interest, high cost loans directed to persons of limited means or limited ability to pay,
giving loans without examining the buyer's ability to pay,
high prepayment penalties which lock borrowers into high cost loans,
use of deceptive and/or high pressure tactics by loan originators to make borrowers takeout loans that are often not the best loans terms available on the market and loan terms that put the borrower at risk of foreclosure.
https://www.car.org/riskmanagement/qa/financing-folder/predatory-lending-ca-law
Steering — Racial/ethnic steering refers to the practice among real estate professionals to guide prospective home buyers towards or away from certain neighborhoods based on their race or ethnicity.
https://www.nar.realtor/articles/steering-schools-and-equal-professional-service
Equal Professional Service — A set of policies and procedures designed to help its users provide the same level of service to all real estate consumers. A model which involves consistent practices in making the initial contact with consumers, gathering objective information about consumers' needs, letting consumers set their own limits, offering a variety of choices, and keeping accurate records of all of the above.
https://www.nar.realtor/rmoquiz2.nsf/pages/FairHousing?OpenDocument#ProClass
Protected Classes
This refers to "categories" of homebuyers that are specifically protected from housing discrimination under the federal Fair Housing Act.
https://www.nar.realtor/rmoquiz2.nsf/pages/FairHousing?OpenDocument#ProClass