The Commercial Real Estate Diverse Supplier (CREDS) Consortium
is a first-of-its-kind coalition to provide more opportunities for minority- and women-owned businesses in the industry’s supply chain
Today, an industry-wide group of seven real estate trade associations announced a first-of-its-kind alliance to foster supplier diversity in real estate. The Commercial Real Estate Diverse Supplier (CREDS) Consortium aims to expand economic opportunities for minority- and women-owned businesses (MWBEs) in the chain of providers that supply the real estate industry. CREW Network, along with ICSC, Mortgage Bankers Association, NAIOP, Nareit, the National Multifamily Housing Council and The Real Estate Roundtable will offer tools that members can use to identify, track, report, and procure services and materials from MWBEs.
“As a global organization focused on accelerating success for all women in commercial real estate, CREW Network supports this partnership and initiative as an important business strategy to elevate ESG and DEI and create a more equitable industry for all,” said CREW Network CEO Wendy Mann. “Women- and minority-owned businesses are a driving force behind economic growth and bringing this diverse talent to the industry is a business imperative. Companies that increase their diverse spend also see an increase in innovation and market share. It’s a win-win.”
The CREDS Consortium has launched a two-year pilot program that will run through the end of 2024 with SupplierGATEWAY, a leading supplier management software platform and minority-owned firm that automates and simplifies supplier and vendor management. SupplierGATEWAY's products include supplier sourcing, registration, risk management, compliance, and management—and provide support for corporate responsibility, diversity and inclusion goals.
The platform allows all CREW Network members who lead or work for a MWBE to create a supplier listing in the database. Members are encouraged to register their company in the SupplierGATEWAY vendor database at no cost. MWBEs are defined as any bonafide U.S. or Canadian citizen or resident-owned business that is 51% owned, managed, and controlled by one or more of the following categories: minority, woman, veteran, disability, or LGBTQIA+.
A listing in SupplierGATEWAY’s database can enhance opportunities and help build connections that may lead to more work in real estate’s supply chain. MWBEs can learn more here.
In addition, members of CREW Network and any of the CREDS associations can subscribe—at a discounted price—to SupplierGATEWAY's software platform to search for, connect with, and potentially hire MWBE suppliers. Members can access the vendor management software and a comprehensive database of MWBE suppliers through the Consortium’s portal page.
Hiring companies can also post their purchase orders and other contracting opportunities through the CREDS portal. Tools available on the platform that measure and track MWBE procurement spending will support companies that intend to advance ESG and DEI goals. During the pilot program, the Consortium also hopes to gain broad insights into supplier diversity trends across the commercial real estate industry.
About CREW Network
CREW Network is the premier business network dedicated to advancing all women in commercial real estate through business networking, industry research, leadership development and career outreach. Our members are more than 12,000 professionals in 75+ markets worldwide and represent all disciplines of commercial real estate.