Realty Executives International announced the national launch of Homeworks, a marketing initiative piloted in Phoenix this past spring to help make teachers more aware of special loan programs that already exist for educators. The program aims to help teachers buy homes.
According to a study conducted by the American Federation of Teachers two years ago, teachers in the U.S. earn an average of just $46,597 and, last year, salaries increased at a rate lower than inflation. First-year-teacher salaries averaged just $31,794. The AFT survey also reports that over the last 10 years compensation for teachers increased at a far slower rate than salaries for other professionals.
Realty Executives franchisees can partner with their own lending and title partners to implement the Homeworks program. In the Metropolitan Phoenix area, Realty Executives and Homeworks have teamed up with First American Title Co. and Desert Heritage Mortgage to provide additional title and mortgage offerings that further discount services and provide bundled options for educators and others in the education field.
“Our goal in creating this program is quite simply to help facilitate home ownership in the educator population,” said Rich Rector, president and CEO of Realty Executives International. “Even though teachers have such a large effect on the future of our country, our society has chosen not to compensate them well enough to afford housing easily. Helping teachers buy homes with fewer roadblocks and in areas closer to their schools is how our company can help with this dilemma.”