Together with Out Leadership, the world’s first global LGBT+ business organization, Better Homes and Gardens Real Estate released new research showing the importance and value of the real estate industry’s use of inclusion at the core of its business. Real estate professionals and organizations who embrace inclusion as a core principal have the opportunity to set themselves apart from the crowd in a competitive marketplace; because the legal landscape in the U.S. for LGBT+ people is unclear and not navigated fully, the concerns of potential clients are very prevalent.
As the LGBT+ community continues to become a driving force within the industry, with increased purchasing power and a growing interest in purchasing real estate, it’s more important than ever to embrace inclusion as part of business to appeal to this community.
Key takeaways from the research:
- The combined purchasing power of LGBT+ people in the U.S. rose about 3.7 percent to $917 billion in 2015, according to an annual analysis conducted by Witeck Communications.
- Many LGBT+ people currently live in jurisdictions where they are not protected from housing discrimination and may be particularly keen to engage with real estate professionals who identify as inclusive.
- Family and friends of LGBT+ people are increasingly likely to consider questions of inclusion: 82% of self-identified allies consider whether a company or brand is LGBT-inclusive when marking a purchase decision.
- Millennials are the most pro-LGBT+ generation, by significant margins, and by 2025 they will constitute 75% of the labor market.
In an effort to further exemplify a commitment to inclusion, this research follows Better Homes and Gardens Real Estate’s recent announcement of a strategic shift in its core brand values, changing the “I” in PAIGE to inclusion. However it’s embraced, it does seem clear now that as businesses grow and the landscape evolves, LGBT inclusion and understanding will be more important than ever in the professional world.