Copyright PRIMEDIA Intertec Mar 2002Their areas of expertise vary. One is a developer, another is a broker and a third is a lawyer. Yet all three of these successful minorities in commercial real estate share a common bond - they spend considerable time trying to show younger minorities the opportunities the industry offers.
Pamela Bundy, an African American and president of Bundy Development Corp. in Washington, D.C., has conducted numerous classes at historically black 
Howard University. A five-year-old D.C. organization known as the African American Real Estate Professionals established a relationship with Howard, and Bundy served as the liaison to the school during 2001.
In that role, she was on campus once a week. Bundy says that her primary aim was to familiarize students with the various jobs available to them. Many know about residential sales, she says, but have had little exposure to commercial development, zoning, legal issues, appraisals and other fundamental aspects of the business.
Bundy asked students to note the various construction company signs dotting the D.C. metro area and to research those companies. She encouraged the students to learn more about smaller development firms, where an entry-level person might be exposed to a broader range of duties than at a big company. Bundy also launched a program in which students went to work with a real estate professional for a real-life taste of the industry.
"The more my firm grows and the more competitive it becomes, I find that [donating time] is important for myself," Bundy says. "It's a political issue at a certain level. You have to know the players and participate in certain community efforts.'
As an African American woman in the commercial property business, Bundy says she is mindful of her position as a role model. "I take that seriously, and that's why I spent so much time at Howard," she says. "I just want people to know that opportunities exist."
'Desperate for knowledge'
Michele Battle, managing attorney with Atlantabased The Battle Law Group LLC, says it's vital to demonstrate to younger minorities that the path has been established for them.
"People are eager, nearly desperate for knowledge," Battle says. "They say, `Give me a hand, teach me, and I'll go do the rest."'
Battle is the founder and executive director of the Real Estate Development Institute (REDI). The purpose of the non-profit corporation is to provide minority developers with the tools necessary to participate in developing the communities in which they live, work and play.
REDI was launched in January 2002 with a seminar titled "Minority Developers: Revitalizing Our Communities." The program was co-sponsored by the City of Lithonia, Ga., the Georgia Institute of Real Estate, Georgia Affordable Housing Corp., and the First African Community Development Corp. More than 50 people attended the two-day seminar, which covered a broad range of topics, including appraisals and market reports, site planning and land-use issues, bond financing, and taxcredit financing for affordable housing.
| [Photograph] |
| Pamela Bundy |
| "I take that role model position seriously, and that's why I spend so much time at Howard." - Pamela BUndy, Bundy Development Corp. |
This spring, the Institute will begin holding regularly scheduled courses that will address market appraisals, surveys, titles, property usage and other pertinent topics. Battle refers to these lessons as the "nuts and bolts important to being a developer." Once the REDI program is stabilized in Atlanta, Battle hopes to open sister institutes throughout the United States.
Underlying this project is the sobering reality that minorities, especially African Americans, lack mentors in the real estate industry. "My feeling is that I may not be able to provide you with your own personal mentor," Battle says. "But I can provide an institute that'll give you the knowledge necessary to handle the situation on your own, or lead you to the right people who will be able to assist."
Visibility is important
Paul Chiles, president of Seattle commercial brokerage firm Chiles & Co., teaches a number of real estate courses offered through local continuing education programs. In addition, he serves on nine industry-related boards and commissions.
Chiles figures that as a successful African-American real estate executive, it's important for him to remain visible. This exposure helps his company. "It also signals to the outside world that African Americans can be successful at this business, whether someone wants them to be or not."
The veteran broker practices what he preaches about maintaining a diverse staff. According to Chiles, when competing real estate firms in Seattle are looking for African Americans, Asians or other minorities, they often attempt to raid the ranks of Chiles & Co.
- Charles Davidson
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