Established by the Louise L. and Y.T. Lum Foundation, the Lum Award is given to an individual who has made a distinguished contribution to the study of and elaboration upon the principles, theories, techniques, and practices of real estate counseling, and “sharing of the fruits thereof,” to ensure the continuing advancement to the depth and breadth of knowledge and education among those in the profession.

The Lum Award is unique in that it is not for a paper, research, or specific educational contribution, but that it recognizes any superior achievement made to the field.