Living Room Realty Excellence in Diversity Scholarship

Overview

The Living Room Realty Excellence in Diversity Scholarship recognizes the potential of applicants who, through sharing their varied cultural perspectives, will enhance Living Room as well as the real estate community as a whole. Living Room 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 that would otherwise find the cost of pursuing a Real Estate career a financial burden. ​Our goal is to provide financial and educational 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. Preference to native Portlanders or residents of 10+ years.
  • You must be able to demonstrate financial need.

How to Apply

  • Complete the online Living Room Realty Excellence in Diversity Scholarship Application by September 15, 2019 (link at the bottom of this page).
  • In the online application, provide contact info for three professional or personal references who will be contacted by Living Room during the review process.

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 professional experience
  • Past academic performance and/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 management staff to evaluate progress
  • Maintain good financial standing of Living Room Realty agent account

Award Notification

Recipients will be notified by October 15, 2019.

Terms and Conditions

Recipient Requirements

  • Prelicensing Education to be completed within 90 days of scholarship award
  • Real Estate Licensing Exam to be taken within 120 days of scholarship award
  • Program is a 3 year commitment to hang real estate license at Living Room Realty and become a broker on a 50/50 or 60/40 independent contractor agreement2
  • 50/50 New Agent Membership Program for first year licensed

Fees and Expenses Covered by Scholarship Program

Real Estate School Pre-Licensing Education$300
Regional Multiple Listings Service Fees$564 Annually/$1,692 3 Years
Sentrilock$25 Start Up, $132 Annually/$396 3 Years
1 Lockbox$107/One time
LRR New Agent Package$375/One Time
PMAR$670 Annually/$2,010 3 Years
License Application Fee$300/One Time
2 Year Renewal$300/One Time
Real Estate License Exam Fee$75
BASS Education$119/One Time
Fingerprinting and Background Check$56
In House Living Room Realty Marketing Budget$1,645 Annually/$4,935 3 Years
Total Expense Remission3$14,1904

Training and Educational Support

  • Free Customer Relationship Management system (CRM) access until applicant reaches $2M in sales volume
  • Agent U​: Living Room Realty weekly education classes
  • Sensei Sessions: ​Living Room Realty Quarterly Top Producer Presentations
  • GROWTH Series: ​Living Room Realty Monthly Credit Hour Classes
  1. Amount is determined by expenses detailed in the table above.
  2. If the recipient chooses to leave real estate or become a licensed assistant before the 3 year term concludes, the recipient agrees to pay back the scholarship award received.
  3. Recipient is responsible for verifying tax implications of award and for reporting scholarship award to appropriate entities.
  4. Final award amount may vary depending on pricing of above resources at the time of use.

Apply for the Scholarship

Fill out the online application form by following the link below.