Living Room Realty Inclusion in Real Estate Scholarship

Overview

The Living Room Realty Inclusion in Real Estate Scholarship recognizes the potential of applicants who, through sharing varied cultural experiences, will enhance the real estate community as a whole. Living Room Realty offers this start-up fee remission scholarship as part of a commitment to Living Room’s Values of Excellence and Diversity which are the foundation of our Mission to Develop Vibrant Communities.

Living Room strives to facilitate the path to a Real Estate career for those qualified candidates looking for access to financial and educational industry support. Our goal is to provide this  support to assist the candidate in developing a thriving real estate business and as a result, increase the opportunity for future personal homeownership and financial stability.

Details

Award Information

Total award is approximately $15,000 over three years1. The scholarship commitment is for a three year period. This is a fee remission award that covers basic expenses of becoming a licensed real estate broker and entering the real estate business.

Eligibility Requirements

  • You must be at least 18 years of age.
  • You must be a high school graduate, have a GED, or international equivalent.
  • You must pass a routine background check.
  • You must have lived in the Portland Metro Area for 3 of the past 5 years.

How to Apply

Details coming soon.

Selection Criteria

Scholarship recipients will be selected by a committee of Living Room agents with who will evaluate the following criteria:

  • Involvement in community or volunteer activities
  • Past experience or relatable skills that would translate to negotiations, networking, and customer service within real estate
  • Past academic performance or educational activities
  • Preference given to applicants from underrepresented racial/ethnic minorities and/or candidates that identify as LGBTQIA+
  • Preference given to applicants with demonstrated financial need
  • Preference given to Portland, Oregon metro residents of 10+ years
  • Preference given to non homeowners

Annual Scholarship Renewal Requirements

To maintain scholarship eligibility, you must:

  • Display a commitment to attending and participating in educational opportunities
  • Display a commitment to developing a personal real estate business 
  • Meet regularly with the assigned mentor and LRR’s Agent Success Coach to evaluate progress
  • Actively work through the New Agent Passport (a guide book filled with activities to kick start your real estate career)
  • Maintain a good financial standing of the Living Room Realty agent account for any items or services not covered by the program

Award Notification

Details coming soon.

Jamis Minnis

Broker Licensed in Oregon

“Diversity and visibility matters y’all! As a queer, black, real estate agent in Portland, I don’t see many, if any of me around. Neither have my clients who intentionally seek me out. And here I am, with the fortunate pairing of Living Room Realty, as its first ever Diversity Scholarship recipient. (whoot whoot)”

Terms and Conditions

Recipient Requirements

Details coming soon.

Fees and Expenses Covered by Scholarship Program

The following are expenses and start up fees for a typical Broker licensed in Oregon and will be covered by the scholarship. The following fees can be reimburse to the applicant or paid directly by the LRR Membership Services Team as they occur:

Real Estate School Pre-Licensing Education + Exam Prep Package OnlineEd.com$510
Regional Multiple Listings Service Fees$564 annually | $1,692 3 years
Sentrilock$25 start up + $132 annually | $396 3 years
1 Lockbox$107
Living Room Realty New Agent Package$375
PMAR$670 annually | $2,010 3 years
License application fee$300
2 year OREA license renewal$300
Real Estate license exam fee$75 paid up to 2× | $150
Broker Advanced Practices education$119
Fingerprinting and background check$56
Technology budget (computer, printer, scanner, etc.)$1,400
DocuSign account$215 annually | $645 3 years
In-house Living Room Realty marketing budget$1,500 anually | $4,500 3 years
Personal development (Buffani, Ninja)$1,000
Mentorship from a Living Room Realty Principal Broker30% of each closed transaction (first 3 transactions)
Life costs (clothing, vehicle, mortgage/rent assistance)$1,500
Professional headshots$50
Total Expense Remission2$15,0003

Training and Educational Support

  • LRR Mentorship Program: Through one-on-one training, a qualified Principal Broker will guide you through your first 3 closed transactions.
  • Agent U/Skills Training/Sales Meetings: Living Room Realty weekly education classes.
  • Excellence Award Sessions: Living Room Realty Quarterly Top Producer Presentations.
  • GROWTH Series: Living Room Realty Monthly Credit Hour Classes.
  • Managing Principal Broker: LRR staff member dedicated to risk reduction and transactional support. They know all the laws and carry the license for the company.
  • Agent Success Coach: LRR staff member dedicated to helping LRR members reach and exceed their business goals.
  1. Amount is determined by expenses detailed in the table above.
  2. Recipient is responsible for verifying tax implications of award and for reporting scholarship award to appropriate entities.
  3. Final award amount may vary depending on pricing of above resources at the time of use.

The 2021 application period is not yet open. Please check back for updates.