EQ: How do we better understand the relationship between race, class, and real estate, and why does that matter?
Guest: Marguerite Martin, curator of the Move to Tacoma movement and host of the Move to Tacoma Podcast, the Pod Auntie and a founding pod host on Channel 253 (the spry, young matriarch of the network).
Marguerite shares her story:
- Her love for Tacoma and her early days downtown (what used to be the cheapest neighborhood!).
- Her start in real estate in the last boom market, circa 2005, and occupational survival in the downturn.
- The launch of the Move to Tacoma movement (website and, later, the podcast) as a resource for people relocating to the area.
- Feelings about her career - the thrill and terror of entrepreneurship. You can be creative and be yourself, workaholic!
- Why lots of people get their real estate license - it’s not too hard to meet the requirements, but it IS hard to build a career (the test has nothing to do with the actual work of selling real estate). You may not get the support you need as a newbie.
- Making her way - from the dream of being the Queen of Spanaway Real Estate to carving out a niche, first as a condo specialist, then as a downtown realtor, and later as a buyer’s agent. PLUS! The first prototype of Move to Tacoma - Get Real Tacoma.
- The changes in the local market, especially skyrocketing prices and the lack of affordable housing options.
- The market now: buyers have to give up more. Buyers are currently at a tremendous disadvantage, especially low-income folks. Those with a lack of intergenerational and historical wealth, especially people of color in Tacoma, don’t have access to the resources they need.
- Issues with the lack of diversity in the profession--the median age of realtors is 60 and 87% of agents are white. The field is treated by many real estate professionals as a meritocracy. Spoiler alert: it’s not. (Dis)trust and implicit bias fuel ageism, sexism, and racism in the business. Being “woke” in real estate is - maybe - impossible because systems of capitalism are inherently exploitative.
- Marguerite’s favorite Move to Tacoma Podcast Episode “The Tacoma Dating Scene”
- Annie & Hope: Target, Target, and more Target!!
- Marguerite: John Mayer and Younger
Do Your Fudging Homework:
- Annie: Go watch a video called “Housing Segregation in Everything” from NPR’s Code Switch Podcast.
- Hope: To understand our country’s history of housing segregation and why things are they way they are today, go read Nicole Hannah Jones: Living Apart and Nerd Farm Reads book “Evicted:Poverty & Profit in the American City” by Mathew Desmond (Ep 30 & Pop the Trunk Addendum)
- Marguerite: Adams Ruins Everything “The Disturbing History of the Suburbs” and Race Power of Illusion.