Our brokerage is a Benefit Corporation. What does that mean?
A couple of weeks ago, we shared a huge announcement that we’re launching a brokerage called Bolst. Many of you saw that announcement and have been reaching out wanting to know more about Benefit Corporations. So today, we have answers! Let’s talk about what it means to be a B Corp and more specifically, what that means for Bolst and JLG.
So first of all, what do we mean when we say “benefit corporation”?
It can mean a couple of things. There’s an actual corporate designation as a Benefit Corporation. Just like you can be an LLC or C Corp, you can register your company as a Benefit Corporation. When you do so, you’re registering as a for-profit company that has a listed public benefit. At Bolst, that public benefit is to:
Reduce Homelessness
Increase Affordable Housing
Increase Homeownership in Underserved Communities
So in short, the company is committed to both driving shareholder value AND serving a public benefit.
You can also become a certified B Corp, meaning that you passed an official assessment that measures your commitment to things like a more equitable workplace, community and environmental impact, and more. You have to be in business for a year before you can complete the assessment, so it’s something Bolst will be working toward over the next 12 months.
We couldn’t be more excited to be aligned with a brokerage that shares our passion for doing good in the community, and we can’t wait for you to see what that means in action. Stay tuned in the months to come to learn more, and as always, contact us to find out how we can help with your real estate needs.
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