What practice involves soliciting the sale or lease of property due to changes in neighborhood ethnic composition?

Prepare for the New York Real Estate Salesperson Test with interactive multiple choice questions and detailed explanations on each topic. Study effectively and pass your exam with confidence!

The practice referred to in the question is blockbusting. This involves real estate agents or developers persuading property owners to sell or lease their homes hastily, often by inciting fear that the neighborhood's ethnic composition is changing. The tactic typically plays on racial prejudices and fears about declining property values, suggesting that the arrival of a specific ethnic group will diminish the desirability of the neighborhood.

Blockbusting has historically exploited the dynamics of racial integration, where agents would encourage white homeowners to sell their properties at lower prices and play upon their fears to profit by quickly reselling those properties to new, often minority, residents at inflated prices. This not only harmed the original homeowners but also contributed to segregation and economic disparities in communities.

In contrast, gentrification refers to the process of wealthier individuals moving into a previously lower-income neighborhood, leading to increased property values and changes in the community's cultural landscape. Redlining is the discriminatory practice of denying services, typically mortgages or insurance, to residents in certain areas based on racial or ethnic composition, often shown on a map with red ink. Steering involves real estate agents guiding clients towards or away from certain neighborhoods based on their race or ethnicity, rather than providing equal access to all available properties. Each

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