Vol 3, Issue 7

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sheSHOWCASE

Anne Sutherland Anne Sutherland was recently added to Ballard Spahr’s counsel in the mortgage banking and consumer financial services groups.

Grace Yu Grace Yu has recently joined Brazen Sotheby’s International Realty’s firm. The top-producing broker has over ten years of experience.

Amitha Rao Amitha Rao was promoted to assistant vice president for client systems and data analytics at Safeguard Properties. Rao will lead data architecture and governance for all systems.

Showcasing Women

'On the Move' in the

Housing Economy

Meg Burns The Collingwood Group, a business advisory firm based in Washington D.C., has named Meg Burns as their new managing director.

Vol 3. Issue 7: We Made History sheCENTER(FOLD)

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Features

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NAWRB EXCLUSIVE: INAUGURAL CONFERENCE

30 sheCENTER(FOLD):

20 DEBUNKING MYTHS

ABOUT WOMEN LED BUSINESSES

By Renee Marie Smith

23 U.S. HOUSE OF

REPRESENTATIVES COMMITTEE ON FINANCIAL SERVICES RESPONDS

Table of

THE JILLS Broker-Associates of the Record-Breaking Jills Team

40 EDUCATE. ADVOCATE. MAKE AN IMPACT.

By Ann Sullivan

38 TOP TECH TOOLS

REAL ESTATE AGENTS SHOULD BE USING

By Hello Agent

CONT

38

23

40

Departments

44 NATIONAL DEFENSE BILL

HELPS TO ERADICATE BARRIERS FOR WOMEN ENTREPRENEURS

48 DEVELOPING INNOVATIVE

8 INFOGRAPHIC A special look at historical

THERAPEUTICS

By Elizabeth Stewart (City of Hope) New advancements in women’s cancers bring us one step closer to finding cures (part 3).

moments throughout time.

46 WHAT WOMEN WANT: -REVIEWS - FASHION - HEALTH - COOKING

53 SWAN:

- SPEAK - WRITE - ATTEND - NETWORK Out of their offices and into the field, where NAWRB members can be seen and heard.

ENTS Vol 3. Issue 7: We Made History

nawrb STAFF & CONTRIBUTORS

PUBLISHER/CEO/EDITOR-IN-CHIEF Desirée Patno CONTENT WRITERS Lindsay Cabreros Tiffany Johnstone

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SENIOR GRAPHIC DESIGNER Kendall Roderick MEMBERSHIP RELATIONS Andrea Fierro NAWRB CERTIFICATION Laurie Keys CONTRIBUTORS Renee Marie Smith Hello Agent Ann Sullivan Elizabeth Stewart U.S. House of Representatives Committee on Financial Services: Congresswoman Maxine Waters, Congressman Gregory W. Meeks, Congressman Keith Ellison, Congresswoman Gwen Moore, Congresswoman Joyce Beatry, Congressman Al Green, Congresswoman Terri A. Sewell, Congressman William Lacy Clay NAWRB Magazine is a bi-monthly magazine featuring unique content for women in the housing economy, exclusive interviews with industry professionals, business development tools, book reviews, feature stories and more. NAWRB Magazine welcomes comments from all readers. All materials submitted to NAWRB Magazine are subject to editing.

The articles, content, and other information in this publication are for information purposes only. Articles, content, and other information in this publication without named authors are contributed by the publication’s staff, but do not necessarily reflect the views or opinions of NAWRB. NAWRB assumes no liability or responsibility for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon.

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I am proud to announce NAWRB made history with our Inaugural Conference. For the first time since passage of the legislation and outside of Washington, D.C., a woman-owned business association leader—NAWRB—organized and sponsored this unique event for the women-owned business community to put laser-focus on the opportunities created by Dodd-Frank Section 342.

It was truly an honor to have the author of Section 342, Congresswoman Waters, in attendance in addition to representatives from the Office of Minority and Women Inclusion (OMWI) at the federal agencies; the regulated entities including Freddie Mac and Fannie Mae; the Small Business Administration (SBA) Women’s Business Ownership; and the National Women’s Business Council (NWBC). Our goal was to provide attendees with insight about the legislative landscape, Women-Owned Business (WOB) statistics, and efforts to increase opportunities for women’s employment and supplier diversity.

“We Made History” is our theme for this issue of NAWRB Magazine as we review the developments promoting women across the housing continuum including the passage in the Senate and the House of the Women’s Small Business Procurement Parity Act. As the New Year approaches, we reflect on the positive changes NAWRB has been a part of this year. Building up to the success of our Inaugural Conference, NAWRB has experienced quality growth in 2014.

In February, we announced the winners of our Roaring Twenty Awards.

Our recipients have made overwhelming contributions to both the housing economy and their communities. At the same time, we featured NAW-

RB’s official response to the OMWI’s request for comments regarding its Interagency Policy Statement. In this issue, we published the response from the author of Dodd-Frank Section 342 and other honorable women and men to the official comments they received earlier this year.

NAWRB has continued to expand its presence this year with our Women in Housing Financial Fitness Road Show which was launched in Irvine, CA. Hosted by Morgan Stanley at the Lutron Experience Center, we featured speakers from NAWRB, the SBA, SBDC and SCORE agencies.

Our road show is traveling the nation to bring awareness, opportunities, and access to local communities.

We are developing greater engagement with new and existing partners, members, chapters and the housing continuum. The FDIC hosted a Technical Assistance Day in Washington, D.C. recently and NAWRB members from around the nation flew in to learn first-hand about contracting opportunities from several of the OMWI directors and their respected agencies as a direct result of our conference.

In concluding 2014, on behalf of NAWRB and NAWRB’s staff, we are grateful for all the supporters, advertisers, advocates, and members working on promoting women in the housing economy. Change is indeed happening all around us. It is imperative we continue this growth and see the implementations carried through.

Let’s toast to 2015 for another history-making year!

Desirée Patno Publisher/CEO

Desirée.Patno@NAWRB.com NAWRB MAGAZINE |

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NAWRB Conference

The National Association

of Women in Real Estate Businesses (NAWRB) held its Inaugural Conference on October 27-29th in Long Beach, CA, providing awareness, opportunities, and access for women’s employment and women-owned businesses specializing in the housing economy.

For the first time since passage of the legislation and outside of Washington, D.C., a woman-owned business association leader, NAWRB, organized and sponsored this unique event for the women-owned business community to put laser focus on the opportunities created by Dodd-Frank Section 342.

ship, and the National Women’s Business Council (NWBC), the conference delegates were provided with unprecedented insight to the legislation’s purpose, key Women-Owned Business (WOB) statistics, and the regulated entities’ meaningful efforts to increase opportunities for women employment and WOB suppliers to their organizations.

Congresswoman Maxine Waters’ opening keynote address was conducted as an interview in a living room-style setting. With a regal demeanor and security at bay, the congresswoman walked onto stage, took a seat on an elaborately carved neoclassical Italian chair, and provided her first-hand perspective on the progress of Section 342 while NAWRB CEO Desirée Patno proposed questions on what can be done to provide greater awareness and implementation of the OMWI requirements across the federal agencies.

By bringing together in one venue the author of Dodd-Frank Section 342 Congresswoman Maxine Waters, representatives from the Office of Minority and Women Inclusion (OMWI) at the federal agencies, the regulated entities including Freddie Mac, Fannie Mae, Wells Fargo, Chase, MUFG Union Bank and Morgan Stanley, the Small Business Congresswoman Waters outlined her vision behind Administration (SBA) Women’s Business Owner- authoring the section which included opening up

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NAWRB Conference opportunities in the private sector and government procurement opportunities, and ensuring women and minorities were getting real opportunities that may have previously been suppressed. She stated, “This is the first OMWI awareness event of this type (sponsored by and for the business community) outside of D.C.” and reiterated the importance of events such as the conference to facilitate the adoption and integration of the requirements at the ground level.

Section 342 established the requirement for an OMWI for each federal agency that must include a director to implement standards such as equal employment opportunity with racial, ethnic, and gender diversity; an assessment of diversity policies and practices within their respective agencies as well as the regulated entities under their jurisdiction; and increased participation in programs and contracts by women-owned and minority-owned businesses. Section 342 also promotes “inclusion in all levels of business activities,” according to the legislation.

“Although the OMWIs and the regulated entity requirements are not as well-known due to the young age of Dodd-Frank, continued outreach programs and awareness are essential to realize the impact of the legislation and to facilitate implementation in the business communities across the United States.

There is still a long road until the duties in Section 342 are operating to the best of their abilities, but with strong advocates such as NAWRB, minorities and women are one step closer to gaining access The Political Landscape

Congresswoman Maxine Waters, author of Dodd-Frank Section 342, provides her keynote address with NAWRB CEO Desirée Patno.

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OMWIs: The Agency Perspectives and Progress

From left: Stuart Ishimaru, CFPB OMWI Director; Marleitha Williams, Supplier Diversity Program Specialist, Federal Reserve; Melodee Brooks, FDIC OMWI Senior Deputy Director; NAWRB CEO Desirée Patno; and Victor Christiansen, FDIC OMWI Branch Chief.

to and winning more opportunities and representation,” stated Patno. “After first covering the OMWIs four years ago, it was truly an honor to have their history-making presence at this incredible event.”

Having three congresswomen as speakers was an exciting moment for NAWRB, although it was quite challenging right up to the day of the conference. Unbeknownst to NAWRB, there is a rule that restricts members of the SBA from attending the same conference with actively campaigning politicians. Given the Inaugural Conference occurred during a midterm election only a week before the election, having both congresswomen and members of the SBA as speakers created a conflict of interest. After many phone calls, emails, and anxious waiting, the speakers from the SBA were given approval to move forward with special provisions.

This allowed NAWRB to have Erin Andrew, Assistant Administrator for Women’s Business Ownership at the SBA and local economic development specialists from the SBA to be featured as guest speakers.

The first day of the conference began with a NAWRB members-only meeting before the sessions commenced. Members, both familiar and new faces from around the country, gathered in the town hall to discuss NAWRB’s 2015 platform, and board of directors/committee positions opening up. Since the conference, several enhancements have been implemented at NAWRB’s headquarters to foster greater engagement, awareness and support for members, sponsors, advertisers and advocates for women in housing. With the conclusion of the members-only

NAWRB Conference sition to the next session, “Playing in the OMWI Sandbox,” which was designed to spread awareness of opportunities for women across the housing continuum. Speakers included Shendora Pridgen, VP Firm Wide Sourcing for Morgan Stanley; Roxanne Wilson, Supplier Diversity Manager at Fannie Mae; Jay Inouye, Director of Supplier Diversity at Freddie Mac; and Frank Robinson, Managing Director of National Community Outreach at “Playing in the OMWI Sandbox” Session. From left: Jay InMUFG Union Bank. MUFG Union Bank was also ouye, Director of Supplier Diversity at Freddie Mac; Shendora the bronze sponsor for the Inaugural Conference Pridgen, Vice President and Global Head of Supplier Diversiwith a booth in the exhibitor hall. The speakers ty at Morgan Stanley; Roxanne Wilson, Manager of Supplier Diversity in Corporate Procurement at Fannie Mae; and Frank explored their operations and how they evolved Robinson, Public Affairs Manager for Union Bank. to improve women’s employment. The topic of meeting, we kicked off NAWRB’s Inaugural Con- women-owned business suppliers was a key isference with the Welcome Reception in the booth sue for the session as the speakers discussed their viewpoints and their entities’ progress on engagexhibit hall and a production studio in full force. ing suppliers for women-owned businesses.

Many of the speakers were in attendance at the Welcome Reception and attendees had the oppor- Attendees were afforded a direct perspective of tunity to mingle with influential people such as Jay the speakers’ best practices for initiating, securing Inouye, Director of Supplier Diversity at Freddie and growing their business with regulated entities.

Mac; Roxanne Wilson, Supplier Diversity Manag- Many of the attendees—women with their own er at Fannie Mae; Shendora Pridgen, VP of Firm brokerages, title, construction, and escrow comWide Sourcing for Morgan Stanley; Marleitha panies—listened attentively to this exclusive Williams, Supplier Diversity Program Specialist, part on maximizing their opportunities to realize Board of Governors of the Federal Reserve Sys- the differences and requirements on gaining their tem; and Stuart Ishimaru, OMWI Director at the respective business.

Consumer Financial Protection Bureau (CFPB).

As the OMWI Sandbox session concluded with The second day of the conference brought forth an several one-on-one conversations, women filtered assortment of sessions that focused not only on sup- into the expansive exhibit hall for the keynote plier diversity at the regulated entities but powerful luncheon. Although NAWRB wasn’t allowed to awareness, opportunities and access from women bring in a personal chef, the Hyatt Regency Long in government and other influential positions. FolThe SBA Continuum of Support lowing the keynote address by Congresswoman Waters, Melodee Brooks—OMWI Senior Deputy Director at the FDIC—took the stage with Stuart Ishimaru as representatives from their agency’s OMWI to describe their mission, roles and discuss opportunities through their agencies available for women and Women-Owned Businesses (WOB) in the housing economy. Although their presentations were different, the overwhelming theme was that the agencies were there to help you connect, offering training and support for minority Keynote luncheon speaker Erin Andrew, Assistant Adminand women in housing.

Supplier Diversity within the Regulated Entities

The OMWI discussion supplied the perfect tran-

istrator for Women’s Business Ownership at the U.S. Small Business Administration.

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NAWRB Conference Untapped Opportunities for Capital & Support

From left: NAWRB CEO Desiree Patno; Amanda Brown, Executive Director of the National Women’s Business Council (NWBC); Ingrid Beckles, Founder and CEO of The Beckles Collective, LLC.; Deidra Porche, Senior Vice President and Market Manager for Business Banking at JP Morgan Chase; Erin Andrew, Assistant Administrator for Women’s Business Ownership at the U.S. Small Business Administration; and Irene Escardo, Vice President and Business Banking Manager at Wells Fargo Bank.

Beach graciously allowed a food consultant for the menus. Joshua, the son of NAWRB CEO Desirée Patno, used his years of experience as a highly skilled chef to help specially craft a menu with a NAWRB stamp of approval. Every aspect of the Inaugural Conference had a personalized touch.

capital previously. The total credit score, which has already been enacted, combines an entrepreneur’s business and personal credit scores so that socio-economic factors will not dictate lending.

The conclusion of Andrew’s speech was met with loud applause and smiles from the audience. The speakers kept the momentum as the conference segued into a session regarding untapped opportunities for capital and support. Andrew followed the audience into the town hall as she was joined

by Amanda Brown, Executive Director of the NWBC; Deidra Porche, Senior Vice President and Market Manager for Business Banking in the greater Los Angeles Area for JP Morgan Chase; and Irene Escardo, Vice President and Business Banking Manager for Wells Fargo.

Similar to the keynote luncheon, Andrew continued her speech regarding the Capital Access initiatives for WOBs that the SBA is currently and in the process of enacting. Brown’s presentation included the latest research from the NWBC that provided hard-hitting statistics about WOBs and proposed remedies for their access to capital and mentoring.

Gaining capital is a widespread obstacle for many women business owners but the continued advocacy from the non-partisan federal advisory council NWBC can help bridge the lending gap women can experience.

With women settled into their seats and food served, Erin Andrew—the Assistant Administrator of Women’s Business Ownership at the SBA— approached the podium. Flying in from Washington, D.C., Andrew started her speech with humor as she explained her preparations for the warm weather of California. Although Andrew holds an influential government position, she exuded a very The regulated entities also discussed how they personable and down-to-earth personality that in- participate in conjunction with the SBA and other funding entities to provide women the capital stantly resonated with the audience. required to start and grow their businesses. From But make no mistake, Andrew was an excellent orThe Legislative Landscape ator as she broke down the three-pronged approach the SBA announced earlier this year. The segmented approach includes technology modernization, a more inclusive SBA with tailored programs, and opening new business channels for small companies. Since many of the attendees owned their own small businesses, Andrew’s speech was especially important to them.

In this three-pronged approach lies the total credit score model which will provide more access to companies who may have struggled with gaining 16

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NAWRB Member Tina Marie Estrada of The Omni Group interviews Congresswoman Linda Sanchez of California’s 38th Congressional district.

NAWRB Conference flexible SBA loans to angel investing, there are many avenues to capital that women can utilize.

Keynote Speaker: Congresswoman Judy Chu

NAWRB was honored to have Congresswoman Linda Sanchez interviewed by NAWRB member Tina Marie Estrada. Congresswoman Sanchez is recognized by her colleagues as a leading voice for working families and civil rights. She is also the first Latina to serve on the House Ways & Means Committee and the House Judiciary Committee. In her interview, she explained what she From left: NAWRB CEO Desiree Patno, Congresswoman is currently doing to provide critical financial Judy Chu of California’s 27th Congressional district, and Atsupport to small businesses. One way she hopes torney Renee Marie Smith. to do this is by opening the federal contracting system to increase access to capital—an all too Congresswoman Judy Chu, the first Chinese-American woman ever elected to the U.S. Congress, critical issue for small businesses. representing California’s 27th District. Currently, As we rounded out the intense second day, it was she is serving on the House Judiciary Committee time to kick off our shoes, slip into our themed and the House Small Business Committee which attire for our Roaring Twenty Awards Gala, and has oversight of the SBA. She was interviewed by personally praise our 2014 annual award winners NAWRB Board Director, Renee Marie Smith and highlighting outstanding women in the housing discussed the legislation she introduced supporting economy. This year we feature eleven extraordi- women-owned small businesses and the Women’s nary women in the featured categories, and for the Small Business Ownership Act of 2014. NAWRB first year we have co-winners as both nominees' con- has been actively vocal and supportive of this legtributions to their community were immeasurable. islation as it affects several of the WOBs in housing.

Lots of great laughter, dancing, food and accolades were heard, including a special thanks to Ingrid As NAWRB teams with other incredible womBeckles of The Beckles Collective. Beckles has en’s organizations who work tirelessly to impact provided her unwavering support, content writing legislation, educate and advocate on behalf of skills, and overview of the Inaugural Conference. women-owned businesses, the President of Women Impacting Public Policy (WIPP), Barbara Kasoff, Her hard work is very much appreciated. and Laura Yamanaka, President and Co-founder of Our opening keynote speaker on day three was TeamCFOInc. and Chair of the National Association of Women Business Owners (NAWBO) took Roaring Twenty Awards Gala center stage to further discuss the ongoing work to level the access arena.

Patty Arvielo, President and Co-founder of New American Funding, was the recipient of The Gershwin Award at the Roaring Twenty Award Gala

To really show the immediate value of all this incredible wealth of conference information, we had four women CEO/owners showcase their formulas for obtainable success from hard work, tenacity, and best practices; how they overcame obstacles and setbacks; and how they grew relationships into a value-added component of their overall business strategy. From a small business brokerage to a $500 million a month mortgage lender, speakers such as Patty Arvielo, President and Co-founder NAWRB MAGAZINE |

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NAWRB Conference of New American Funding; Tami Bonnell, CEO of EXIT Realty; Donna Nazir, Owner of Skye Realty Group; and Lori Lynn Nevarez, Owner of Innovar Environmental, Inc. described their paths from humble beginnings to great successful women and women business owners.

Stay Informed to be Fabulous

Without health, you can’t have success in business and statistically speaking, 1 in 3 adults will get cancer in the United States. With that being said, Judith Sato, M.D., Director, Pediatric Hematology/Oncology; we brought in Judith Sato, M.D. as our Keynote Musculoskeletal Tumor Program, Professor, City of Hope.

Luncheon Speaker. She works at a world-renowned cancer facility, City of Hope (COH) and is also Director of Pediatric Hematology/Oncology. She was economy. As with all certifications, the attendees learned how to be selective depending on recipient Learn & Leverage of the certification, which ones do they accept or acknowledge as no certification is accepted universally. Being proactive is always better than being reactive.

As we came to a close on our Inaugural Conference, we raffled off some incredible prizes including a weekend use of a new Lincoln and Jaguar, closed out our silent auction and were able to raise $2,000 on behalf of the Pediatrics at the City of Hope. We were thankful the only noticeable hitch was when the Fire Marshall came in and tested the alarms From left: Laura Yamanaka, a Founder of teamCFO; Ingrid Beckles, Founder and CEO of The Beckles Collective; and with no warning! NAWRB members, staff, and Barbara Kasoff, President and Co-Founder of WIPP. attendees alike were all very pleased with the outexceptional in explaining the technical aspects of come of the Inaugural Conference as “We Made cancer and to this day, the attendees are still talking History.” We look forward to seeing you in 2015! about the incredible knowledge and benefits they can help bring their immediate families, friends, Contracting Opportunities; Certifications, and extended outreach.

Set Asides & Sole Sourcing

Highlighting the accessibility of having actual contracting officers and awardees of contracts, NAWRB Inaugural Conference attendees learned how to submit winning proposals and to leverage the power of certifications for Women Owned Business (WOB), Women-Owned Small Business (WOSB), Minority Women-Owned Small Business (MWOSB), Economically Disadvantaged Women-Owned Small Business(EDWOSB), 8(a) and more. NAWRB is the only third-party industry-specific certifier of Women-Owned Business (WOB) and Minority Women-Owned Business (MWOB) certifications specializing in the housing 18

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NAWRB CEO Desirée Patno interviewing Ashante Booker, Contracting Officer, Veterans Administration; Amy Manning, Purchasing Agent, City of Long Beach; Marlene Gomez, Director of Business Development, Southern California Minority Supplier Development Council; Lori Lynn Nevarez, President, Innovar Environmental, Inc.

“NAWRB hosted a great conference! It was very informative regarding raising the awareness of Dodd-Frank Section 342.

I look forward to the 2015 conference.�

-Marleitha Williams, Supplier Diversity Program Specialist, Board of Governors of the Federal Reserve System.

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“You’ve come a long way, Baby” was the 70’s ad slogan mirroring the feminist movement of the time and with the 2014 Chanel Campaign applauding the modern feminist, I can’t help but ask, have we really? No one disputes that women’s issues have improved, but have these improvements translated to our local businesses and pocketbooks?

As an economics major, I wanted to see the numbers to become a believer. So, I went to the source that advises the President, Congress and the Small Business Administration (SBA) on women’s economic and business issues. I met Amanda Brown, Executive Director of the National Women’s Business Council (NWBC) at the National Association of Women in Real Estate Businesses (NAWRB) Inaugural Conference. Amanda shared with me the same data that she provided to our government so that they can implement policies to impact the future of Women Led Businesses (WLB), firms where female founders work more than 30% of founder hours and Women Owned Businesses (WOB), firms where 51 or more percent is owned by female(s).

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mindsets control our destiny more than we know and it is our responsibility to pick out chairs in the boardrooms and hire the next generation.

Myth #1:

WOB are less likely than their male counterparts to have rapid firm growth in the first several years.

False: Dr. Alicia Robb and Susan Coleman told the NWBC that WOB has kept pace with male equivalents.

However, women were less likely to expect high growth during the same period and conversely, were surprised when the growth exceeded their projections.

Government Myth #2:

WLB/WOB are less likely than male counterparts to be approved for external equity.

False: The same research showed WLB/WOB received only 2% versus 18% for male businesses, from outside equity sources in total funding. However, the reason may surprise you. Women are more likely to be discouraged from applying for loans due to fear of having their applications denied. I gained insight into this surprising mindset from Carol S. Dweck, PH.D., author of Mindset: The New Psychology of Success. Studies found that grade school boys received eight times more criticism than girls, thus leading researchers to believe men have been conditioned to have a higher resistance to outside opinions and are less likely to take negative comments to heart. Dr. Dweck states that even women at the pinnacle of success allow other people’s attitudes to affect them.

Myth #3:

Startup businesses are more successful if they are debt adverse.

False: Rosalind McLymont’s article, called State of Women Owned Businesses quotes the PNC Financial Services Group, Inc. findings that women on average have 2.7 sources of money to fund their business with

59% using business credit cards and 44% relying on personal/family savings. Beth Marcello, PNC director of Women’s Business Development, states that WOB describe themselves as debt-averse; relying strictly on savings and credit cards for business financing. This leaves few options for them if a lawsuit, natural disaster or other unplanned events occur, forcing liquidation of personal assets. This is unlike their male counterparts who seek excess funding to avoid personal exposure if such events occur.

Myth #4:

Starting a business is for the young and to succeed now, a business must have young insights into current culture trends.

False: SAG Corporation reported to NWBC that younger unmarried women were more likely to become self-employed. However, they were also more likely to close their business and return to working for someone else. Krisztina Holly in Why Great Entrepreneurs are Older than You Think, states that, out of 500 successful high growth business founders, with firms defined as having the highest rate of projected employment increase; the typical successful founder’s age was 40 years old, with at least six to ten years of industry experience. And twice as many successful entrepreneurs are over 50 years old.

Holly says that entrepreneur information networks are inefficient unlike typical markets, thus founders identify opportunities based on their unique prior industry knowledge. NWBC research supports this by indicating that a WOB founder’s industry experience is directly associated with an increased likelihood of firm survival.

Myth #5: Women are good at team building.

True: NWBC positively reports that high growth WLB/ WOB, with a team of women at the helm were more NAWRB MAGAZINE |

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Government likely to be in high tech industries, incorporated, and a mindset that is reinforced by externals, they are less likely home-based. Founders also tended to have more likely to succeed. higher credit scores and education, with both set of factors increasing the likelihood of external funding options. Therefore, all the data shows that if women adjust their Thus, this directly boosts the percentage of these busi- mindsets, it will accelerate modern feminism more than nesses succeeding. Among the 25 largest businesses, by gender 60% of WOB were run by female teams.

There is an important theme to these myths, as well as the data results.

• Myth #1 was debunked but highlights how women underestimate our abilities to achieve.

• Myth #2 was debunked but shows women won’t ask for the help they need from sources that will objectively evaluate their business for fear of criticism.

• Myth #3 was disproved but again, women have a mindset that runs counter to sound business practices; increasing the likelihood of failure.

• Myth #4 women should disregard the mindset promoted by the media about youth and overnight success; age and experience is always in your favor.

• Myth #5 shows that when women operate with

a new regulation or government agenda. So, “You’ve come a long way, Baby” and women do control our future like never before.

Attorney Renee Marie Smith Follow her: @mygurupublishes

Letter to OMWIs

United States House of Representatives Committee on Financial Services Responds Section 342 of the Dodd-Frank Wall Street Reform and Consumer Act of 2010 required the Directors of the Office of Minority and Women Inclusion (OMWI) to create diversity policies and standards to be applied to the regulated entities. We were honored to have Stuart Ishimaru, Director of the Consumer Financial Protection Bureau (CFPB) OMWI and Melodee Brooks, Senior Deputy Director of the Federal Deposit Insurance Corporation (FDIC) OMWI as speakers at our Inaugural Conference and in attendance Marleitha Williams, Supplier Diversity Program Specialist for the Board of Governors Federal Reserve System and Victor Christiansen, Chief of the Minority & Women Business & Diversity Inclusion Branch at the FDIC.

NAWRB’s response to the request for comments was published in Volume 3, Issue 1 of NAWRB Magazine.

Our comments proposed a host of recommendations including further refinement of the standard of entities’ supplier diversity policy and the use of both internal/external mentorship and development programs.

Congresswoman Maxine Waters, a speaker at the NAWRB Inaugural Conference, is a ranking Member of the Financial Services Committee. The United States House of Representatives Committee on Financial Services wrote the following letter signed by The Honorable Maxine Waters, The Honorable Gregory W. Meeks, The Honorable Keith Ellison, The Honorable Gwen Moore, The Honorable Joyce Beatty, The Honorable Al Green, The Honorable Terri A. Sewell, and The Honorable William Lacy Clay to express support and some concerns about the comments submitted regarding the Interagency Policy Statement of the OMWI’s request for comments.

United States House of Representatives Committee on Financial Services Washington, D.C. 20515 April 11, 2014 The Honorable Richard Cordray Director Consumer Financial Protection Bureau 1700 G Street, NW Washington, D.C. 2 0 5 5 2

The Honorable Debbie Matz Chair National Credit Union Administration 1775 Duke Street Washington, D.C. 2 2 3 1 4-3 4 2 8

The Honorable Martin J. Gruenberg Chairman Federal Deposit Insurance Corporation 550 17th Street, NW Washington, D.C. 2 0 4 2 9

The Honorable Thomas J. Curry Comptroller of the Currency Office of the Comptroller of the Currency Independence Square, 250 E Street, SW Washington, D.C. 2 0 2 1 9

The Honorable Janet L. Yellen Chair Board of Governors, Federal Reserve Board Constitution Avenue & 20th Street, NW Washington, D.C. 2 0 5 5 1

The Honorable Mary Jo White Chair U.S. Securities & Exchange Commission 100 F Street, NE, Room 10700 Washington, D.C. 2 0 5 4 9

Letter to OMWIs

Dear Director Cordray, Chairman Gruenberg.

Chair Yellen, Chair Matz, Comptroller Curry, and Chair White:

We write to express support for, and some concerns

about, the comments submitted in response to the joint statement issued by the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System (Federal Reserve), the National Credit Union Administration (NCUA), the Office of Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) (hereafter referred to as “the Agencies”) proposing standards for assessing the diversity and practices of the regulated entities as required under Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection (Dodd-Frank) Act. Introduction.

Section 342 was the culmination of extensive legislative history established by the House Financial Services Committee (Committee) about the lack of workforce and supplier diversity among the Agencies and in the

financial services industry and the need for a new, federal initiative to monitor and assess these activities. Given that many of the Democratic Members on the Committee, who have signed on to this letter are among the architects of Section 342, we are uniquely qualified to express the congressional intent which led to the establishment of this statutory provision. We believe it is necessary to achieve both the spirit and plain letter of

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Section 342, that the final standards include: (1) mandatory diversity assessments and disclosures from all regulated entities; (2) information on both workforce and supplier diversity practices and policies of the regulated entities; and (3) that the diversity data be made available to the public.

“Diversity should not be considered a burden; it is an effective business strategy that provides value added resources and also serves to mitigate workforce concentration risk.”

We are sensitive to the Agencies’ concerns about the possibility of increasing the regulatory burden on institutions due to these new diversity requirements.

However, we share the view expressed by the African-American Credit Union Coalition (AACUC) that “diversity should not be considered a burden; it is an effective business strategy that provides value added resources and also serves to mitigate workforce concentration risk.” Like AACUC, we maintain that diversity matters are just as important as other operational and institutional goals and should be considered an integral component of all regulated entities’ strategic plans.

Mandatory Assessments and Reporting of Workforce and Supplier Diversity Data Required.

We reject claims that Section 342 does not (1) allow the Agencies to conduct diversity assessments themselves, or (2) compel a regulated entity to either conduct, or produce, a self-assessment to the Agencies. Further, we strongly disagree with comments that the provision is intended, as some maintain, to merely allow the Agencies to establish guidance.

We also disagree with the position that voluntary, self-assessments would establish more effective and appropriate methodology for evaluating diversity than

Letter to OMWIs would traditional examination or supervisory assessment.

If Congress had been satisfied with the financial services industry’s efforts on diversity matters, it would not have enacted Section 342 requiring the Agencies, not the regulated entities, to create standards to assess the private sector’s activities. The Committee’s extensive legislative history demonstrates Members’ longstanding concerns about the lack of workforce and supplier diversity within the Agencies and the financial services industry. The Members’ increasing awareness about the need for, and commitment to, improved transparency with respect to these matters is a high priority.

The Subcommittee on Oversight and Investigations (Oversight Subcommittee) of the Committee held a hearing on July 15, 2004 entitled, “Diversity in the Financial Services Industry and Access to Capital for Minority-Owned Businesses: Challenges and Opportunities,” in which some Members and witnesses expressed concern about the industry’s lack of workforce diversity.

In particular, Members expressed concern that financial institutions had failed to make sufficient progress in recruiting minority and women candidates for management-level positions. As a result of these findings, some Members1 requested that the Government Accountability Office (GAO) conduct a comprehensive review of workforce diversity in the private sector. The GAO was tasked, among other things, with identifying the available data about diversity at the management level in the industry from 1993 through 2003, along with the types of initiatives that the industry and related organizations had taken to promote workforce diversity, and the challenges they faced in doing so.

In June 2006, GAO published the report entitled, “FINANCIAL SERVICES INDUSTRY: Overall Trends in Management-Level Diversity and Diversity Initiatives, 1993-2004” (GAO-06-617). In response, the Oversight Subcommittee held a hearing on July 12, 2006 entitled, “Diversity: The GAO Perspective,” to review the findings in the report. In its analysis, GAO found that, from 1993 through 2004, overall diversity at the management level in the industry had not changed substantially despite increasing diversity in the racial and ethnic composition of U.S. population. GAO relied

on the Equal Employment Opportunity Commission (EEOC) Employer Information Report (EEO-1) data for financial services industry for employees with 100 or more employees for the years 1993,1998, 2000, and 2004 in crafting the report. However, GAO noted that EEO-1 data could be slightly misleading as an accurate

“Active measures should be taken to increase the demographic diversity of the financial services industry.” representation of women and minorities in senior management and board positions within the industry because of the overly broad categories used to capture certain positions. GAO found that while industry and trade associations had initiated programs to increase workforce diversity, these efforts failed to significantly increase the representation of diversity within the industry. Some industry officials noted that gaining employees’ “buy-in” to diversity programs was one challenge to achieving workforce diversity, particularly among middle managers who were often responsible for implementing key aspects of these programs.

Representative Gregory Meeks introduced House Concurrent Resolution 140, the “Financial Services Diversity Initiative,” on May 5, 2007, which provided several of the findings from the GAO 2006 report on the low representation of minorities and women in the industry. The resolution expressed the sense of Congress that: active measures should be taken to increase the demographic diversity of the financial services industry

These Members included Representative Michael Oxley, then Chairman of the Committee; Representative Barney Frank, then Ranking Minority Member; Representative Sue Kelly, then Chairwoman of the Oversight Subcommittee; Representative Louis Gutierrez, then Ranking Minority Member of the Oversight Subcommittee and Representative David Scott.

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Letter to OMWIs and that diversity within this industry is vitally important, not only to promoting innovation and creativity in the industry, but to developing a more inclusive workforce for a fair and just economy. This resolution passed the full House by voice vote on September 24, 2007.

On February 7, 2008, GAO testified before the Oversight Subcommittee about the, “FINANCIAL SERVICES INDUSTRY: Overall Trends in Management-Level Diversity and Diversity Initiatives, 1993 - 2006,” (GAO-08-445T). Once again, GAO found that the overall workforce diversity at the management level in the industry had not changed substantially. GAO concluded that, without a sustained commitment to overcoming challenges such as recruiting and retaining minority candidates, diversity at the management level in the industry could remain generally unchanged over time.

On May 12, 2010, GAO testified before the Oversight and Housing and Community Opportunity Subcommittees about the “FINANCIAL SERVICES INDUSTRY: Overall Trends in Management-Level Diversity and Diversity Initiatives, 1993 - 2008” (GAO-10-736T). GAO found that diversity in senior management positions remained limited. The revised EEOC data, reported in 2008 for senior-level positions only, showed that minorities held 10 percent of such positions compared with 17.4 percent of all management positions. While white males held 64 percent of senior positions in 2008, African-Americans held just 2.8 percent, Hispanics held 3 percent, and Asians held 3.5 percent.

The financial services industry has been unsuccessful in its attempts to substantially improve workforce diversity at the senior management level, in particular, for more than a ten year period. Extensive data compiled by the Committee, through both hearings and on-going reviews requested from the GAO to track the industry’s overall trend in workforce diversity dating back to 2004, resulted in a recognition among Committee Members that more federal oversight of, and involvement with, these efforts was appropriate. The subsequent enactment of Section 342 was designed to empower the OMWI Directors at the Agencies to develop standards to assess

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the diversity practices and policies of regulated entities.

Furthermore, we reject any view that Section 342 only provides the Agencies’ authority to obtain the employment data of regulated entities. Both legislative history and a plain reading of the statute demonstrate that Congress sought information on both workforce and supplier diversity within the financial services industry.

“The disclosure of the assessment findings are designed to motivate the regulated entities to take proactive, good-faith measures to recruit, hire, and promote more women and minorities...”

House Concurrent Resolution 140, which was discussed above, extensively addresses employment and supplier diversity matters. Under Section 2(a)(6) of House Concurrent Resolution 140, for example, Congress encourages financial institutions, as well as public and private pension funds, to seek qualified minority- and women-owned firms as investment managers, underwriters, and in other business relationships.

If Congress had solely wanted information on regulated entities’ employment diversity, the statute’s text would only have tasked the Agencies’ OMWI Directors to develop standards to collect workforce diversity. However, under Section 342, the OMWI Directors are instruct-

Letter to OMWIs ed to develop standards to assess “diversity policies and practices” of regulated entities. Diversity policies and practices are broad terms that obviously incorporate both workforce and supplier diversity data.

Disclosure of Assessment Findings is required under the Rule of Construction and Legislative History.

When the legislative history of Section 342 is considered In conjunction with the plain reading of Sections 342(b)(2)(C) and 342(b)(4), it becomes evident that disclosure of the diversity assessment findings is required.

The legislative history establishing the need for Section 342 - discussed above – clearly demonstrates a congressional desire for improved diversity within the financial services industry. 2 The text of the statute, however, requires only that the Agencies’ OMWI Directors develop standards for assessing the diversity policies and practices of regulated entities. Further, the rule of construction under Section 342(b)(4), specifically prohibits the OMWI Directors from using the findings of the assessments under Section 342(b)(2)(C) to mandate any requirement on or otherwise affect the lending policies and practices of, or require any specific action by the regulated entities.

Given the intent of Section 342, there would be no benefit to including the language mandating standards for assessments under Section 342(b)(2)(C), if such assessments were not expected to drive the regulated entities toward the congressional goal of improving workforce and supplier diversity within the industry. In consideration that the Agencies are specifically prohibited from taking action as a result of the assessments, the public disclosure of the assessment findings is, in effect, the only way to achieve the congressional objective of Section 342.

In short, the disclosure of the assessment findings are designed to motivate the regulated entities to take pro-active, good-faith measures to recruit, hire, and promote more women and minorities and to conduct business with diverse suppliers by increasing transparency on regulated entities’ efforts with these matters.

Through enhanced public disclosure about the diversity practices and policies of regulated entities, the public is provided essential insights of which entities effectively seek to employ diverse and inclusive workforces and

conduct business with minority- and women-owned firms and by extension which entities fail in this respect.

Consequently, we believe that, when read in conjunction with the legislative intent behind Section 342, the plain language of the statute mandates that the findings of the diversity assessments be made publicly available.

“While white males held 64% of senior positions in 2008, AfricanAmericans held just 2.8%, Hispanics held 3%, and Asians held 3.5%.”

Notwithstanding the legislative history establishing congressional intent for the mandatory disclosure of diversity assessments under Section 342, even a plain reading of the statute’s text, clearly demonstrates that the Agencies must require regulated entities to collect and submit information, in a manner prescribed by the Agencies, in order for the Agencies to be able to achieve their statutory obligation to develop standards to assess diversity policies and practices.

Section 342(b)(2)(C) provides that the OMWI Directors of the Agencies “shall develop standards for assessing the diversity practices and policies of entities regulated by the agency.” The term “standard” is defined in the Merriam-Webster Dictionary (Dictionary) as “a level of quality, achievement... that is considered acceptable or desirable.” This contrasts with the term “guidance”, which is defined in the Dictionary as “the act or process of guiding someone or something.”

See, H. Con. Res. 140 [110th Congress], expressing the sense of Congress that “active measures should be taken by employers and educational institutions to increase the demographic diversity of the financial services industry”.

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Letter to OMWIs It is important to note the statutory difference between requiring Agencies to obtain information and prescribing specific enforcement actions that Agencies must take based on the results of these disclosures. The rule of construction under Section 342(b)(4) provides that no specific action must be taken based on the “findings of the assessment” alone. In this case, the definition of the noun “findings” from the Dictionary means the “results of an investigation” and an “investigation” is defined as “to try to get information about something.” The definition of the noun “assessment” means “the act of making judgment about something: an idea or opinion about something.” Taken together, the phrase “findings of the assessment” under Section 342(b)(4), read in conjunction with the mandatory requirement to develop standards imposed under Section 342(b)(2)(C), suggests that the Agencies will obtain information about the diversity policies and practices of regulated entities. As such, a plain reading of the statute’s text demonstrates that the Agencies are required to develop standards about what

in the requirements for Agencies to promote their own workforce and supplier diversity efforts under Section 342 and the less expansive provision, viewed in conjunction with the rule of construction, for the Agencies to develop standards for assessing the diversity practices and policies of regulated entities.

Section 342(b)(2) mandates three specific duties for the Agencies’ OMWI Directors. The fact that only one of the three specific duties addresses the Agencies’ authority to assess the diversity practices and policies of regulated entities, does not diminish its importance. The differences in the statute’s text under Section 342 for the Agencies’ internal and external duties should not be viewed as restricting the scope of the Agencies’ authority to compel regulated entities to submit information, in a manner that the Agencies deem desirable. The narrower, prescriptive text about the Agencies’ internal activities, if anything, should be viewed as a congressional signal giving the Agencies even broader regulatory authority to implement mandatory disclosures.

Meaningful, Consistent, Specific, and Public Data Critically Important.

The Agencies propose that: the information should be compiled on a periodic basis. We believe that the diversity disclosures should, at a minimum, be provided on an annual basis.

“We reject any view that Section 342 only provides the Agencies’ authority to obtain the employment data of regulated entities.” type of information is considered acceptable for entities to collect and report and to establish how and when the data must be submitted, in order for the Agencies to comply with their statutory obligation under Section 342(b)(2)(C). Some comments argued that the Agencies do not have authority to develop mandatory disclosures by pointing to the differences In the statutory language

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We agree with comments that it is critically important that the Agencies require regulated entities to collect and report diversity data in a way that is consistent, specific, uniform and public to ensure meaningful information is obtained to be able to assess the diversity practices and policies of entities, as required under Section 342.

While some comments argued vigorously that the diversity data should not be publicly available, one of the main tenets behind Section 342 is the congressional desire for more transparency about diversity policies and practices within the financial services industry. Although some cited potential privacy concerns with releasing diversity data, we are not persuaded by these arguments. A good analogy to the value of making personal characteristic data publicly available can be seen through the success

Letter to OMWIs

of the disclosures required under the Home Mortgage Disclosure Act (HMDA).

Under HMDA, certain financial institutions are required to collect and report loan and personal characteristic data on mortgage loans. The increased transparency of mortgage lending patterns and trends has facilitated enhanced scrutiny and enabled Congress, the Agencies, and the public to conduct independent analysis of racial, ethnic, and gender barriers to obtaining mortgage loans. Section 342 should enable interested stakeholders to perform the same independent analysis with respect to employment ic, and publically-available provide the light that Congress and supplier diversity data within the financial services is seeking. In doing so, we expect to bring transparency to a hiring and contracting process which has heretofore sector, as can be done through HMDA data. remained opaque and - to the extent that it has unjustly excluded women and minorities from opportunities to No Exemptions for Reporting.

While we are sympathetic to the concerns of smaller in- which they were entitled – fundamentally flawed. stitutions, we believe that the purpose of Section 342 can only be achieved by requiring all regulated entities We remain committed to the full implementation of to comply with the assessment requirements. However, Section 342, and applaud the efforts of the Agencies to we recognize that there may be geographic differences develop standards for assessing the diversity policies and among the regulated entities and, therefore, we support practices as required by the statute. We also recognize the inclusion of a narrative, along with diversity assess- that in addition to the efforts of the Agencies, a comments, describing successes and challenges to identifying plete implementation of Section 342 requires an active commitment to workplace and supplier diversity by the diverse employees and clients. regulated entities. We, therefore, encourage firms to go beyond the minimum standards that are required in any final standards that are issued. We challenge the financial services industry to work closely with federal agencies, state and local governments, diversity experts and academia to develop a deep pool of diverse employees and contractors that can enhance the richness of our financial dialogue, and exploit the wealth of opportunities that are often overlooked right here at home. This is a genuine opportunity to make substantive change, and we are anxious to continue advocating for diversity and inclusion in all facets of our financial industry.

Conclusion.

In 1960, when he accepted the Democratic Party Nomination for President, then-Senator John F. Kennedy said, “We are not here to curse the darkness, but to light a candle that can guide us through the darkness.� Interagency assessment standards that require mandatory workforce and supplier diversity statistics that are meaningful, specif-

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sheCENTER(FOLD)

Broker-Associates of the Record-Breaking Jills Team

The Jills Named the #1 Coldwell Banker team in the world, Jill Hertzberg and Jill Eber have used their passion and innovative marketing skills to become the leading luxury real estate agents in South Florida. They reveal their advice for business success and the power of devoted relationships in both business and family life.

NAWRB: Your personalities balance each other out incredibly well to form such a strong and cohesive business team. How did you two meet and what led to the creation of The Jills?

Jill Hertzberg: Jill was working at a company and I happened to hang my license at the same firm. The company, at the time, had a big open room with tables.

They assigned me to a shared table with Jill Eber. Each day, we would say hello and goodbye to each other. Then, after some time and many hellos and goodbyes later, we started working together.

Jill Eber: It’s amazing that we found each other in the universe, and that our names are Jill. Finding each other has been an incredible part of our lives, especially because of the respect that we have for each other. We have the same drive, ethics, and values. If we didn’t have the same work ethic, our relationship could have never worked. We both are so similar as far as the drive and passion for what we do.

NAWRB: More importantly, you created this incredible platform for your business and gained respect within the global industry because of your ability to work together and not be competitors within the same environment.

Jill Eber: We motivate and really help drive each other.

People always ask me, “What’s your secret?” It’s a synergy that the two of us have. We’ve been in the business for quite awhile and have knowledge of all the properties out there. When one doesn’t think of something, the other will. We talk to each other many times a day.

Putting our minds together has been incredible for us.

NAWRB: You sound like you finish each other’s sentences which is a great synergy. Do you have any healthy competitions to motivate each other?

Jill Hertzberg: This happened really organically. It was a chance meeting; we were independent agents at our company. This kind of business is so dear and intimate.

You can’t just hand all of the luxury buyers to anyone in the office; it wouldn’t work. It’s a critical task. If I handed it all off to someone who wasn’t confident, intelligent, or hard working, it would come back to haunt me. It seems natural to want to join forces. Although we started organically, it proved to be the beginning of a beautiful friendship.

NAWRB: From the organic formation of your team to now, The Jills have achieved impressive success. In 2013 alone, you had over $552 million in residential sales.

What advice do you have for women starting their real estate careers that wish to emulate the same growth?

Jill Hertzberg: We weren’t girls who had master’s degrees in business but we have always had a very strong work ethic and liked a challenge. It sort of happened day by day. It’s like in any business, in order to succeed you have to be fully invested and try to do better every day. Knowledge is power. Our buyers and sellers are very sophisticated and know the market well. They are where they are because they are experts in their particular fields. You need to truly be an expert in the market and understand it comprehensively or you will miss the opportunity to represent them.

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sheCENTER(FOLD) or another field, you can only be a real master of one.

You have to be completely focused on what you’re doing, be persistent, happy and passionate. You have to be able to not only impart knowledge on people, but have the passion and excitement. It’s important both the buyer and the seller understand you really care about them. You have to make each person understand they’re really important to you, and never make them feel slighted or neglected.

Jill, her kids, my sister and I have always done just that.

Everything we do and try to do is very professional. If you have employees, they need to really understand what needs to be done; you have to guide them through everything. Our support staff has been phenomenal.

NAWRB: With the support of your staff, you both sell some of the most exclusive properties in not only Miami but all of South Florida with famous clients that include Matt Damon and Shaquille O’Neal. Did you begin your real estate careers in South Florida and if so, what was it like starting your careers in one of the most sought-after areas of Florida?

all the way up to Palm Beach. We wrote a contract on a very big property in Boca and signed it on his yacht, which was very exciting. Those were pretty much the days when a great deal of people were paying cash. You even had the Medellin cartel in Miami during that time, although we didn’t deal with them, thank goodness!

It was a very exciting time to be able to participate in dealing with those types of properties and see Miami go through so many transitions. South Beach, I would say, really brought Miami back. The developers were given several tax incentives to start renovating the beautiful art deco buildings in South Beach and it started from there. Miami was becoming a worldwide destination. And now we’re coming to a point where everybody in the world wants to come here. Our market, for a long time, has been fueled because there’s no state income tax in Florida. Miami is also one of the most beautiful places to visit. Now we have the best restaurants, upper tier fine arts, water, weather, international airports…we really have it all!

“It’s important that, whether it’s the buyer or the seller, they understand that you really care about them.”

Jill Hertzberg: When I first started, real estate didn’t have its own television shows and it wasn’t what we know today. In 2004, our market first started to blossom and go crazy. Luckily, Jill and I had been in the business for years and had established ourselves. Other people were not advertising or stepping out and doing full-gloss brochures on their properties. When the market took off, we were ready and had listings to sell.

We did everything we could to be prepared for clients in both the good as well as the slow markets.

Jill Eber: When I started, I was very fortunate because I began selling condos in Bal Harbour. I focused on the building my parents lived in which was “The Building at the time”. I met a gentleman who was selling his condo in the building and was looking to purchase a property

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NAWRB: Not only have The Jills secured luxury listings in one of the most beautiful places for years, but you have remained serious contenders among brokers in a highly competitive market. How can brokers maintain longevity in such a market and what business skills does it take to do so?

Jill Eber: You need to have the knowledge, track record and brand. We’re known for getting results and people truly enjoy working with us. The key throughout your career is to have people enjoy working with you or they’ll go somewhere else. They’re with us because they get the service, the knowledge, and the care. The key to longevity is we love what we do.

Jill Hertzberg: I think you have to morph and change over time. You can’t stay stagnant. In 2013, you can’t do the same thing you did in 2012. That’s something that

sheCENTER(FOLD) we’ve really been disciplined about. Times change and there’s different ways of advertising as well as different

Jill Hertzberg: We believe really strongly in marketing and exposure. That’s what we’re doing. Especially during that time in the market, you needed to expose your properties to as many people as you could; local buyers here were having a hard time. You had to bring in outsiders by exposing your properties to a greater market.

NAWRB: Whether it is through social media or print, marketing is a valuable and necessary tool to attract business. Once you gain the business, it’s critical to have an effective and knowledgeable team which you clearly have. The complete team at The Jills is comprised of yourselves and family members. Each member has won awards and accolades on their own and together, you all make a powerhouse team. What made you two come to the decision to involve your own family as opposed to hiring outside?

“We love what we do.” formats. We’ve been very open to change throughout growing our team. I always want to change. I think that’s why we’ve survived because our city is competitive.

There are a lot of brokers here. You need certain perseverance. I’ll go on a listing appointment and people will say “I can’t believe you’re really nice” and I look at them and they’ll say “well, so and so said…” But you have to be able to brush it off. Just say to yourself, “I’m not going to get involved and I’m not going to go there.” You have to believe in yourself and know you’re doing well. We’re with a big company for a reason: they have enormous resources that we can plug into. We don’t have to use all of them; we can pick and choose. You have to change your logos, type, look, and feel as things get more modern.

We’re not stuck on anything.

NAWRB: With decades of experience, you have endured the ever-changing housing market and remained on top. What tactics can brokers employ to combat the evolving housing market?

Jill Eber: When the market tanked, we kept on doing what we’ve been doing; we didn’t stop. We didn’t let any employees go and we kept marketing our properties. Our phones weren’t ringing as much but we still had decent years for that time frame. They were, of course, way off from the other years, but we never stopped what we do.

“I think you have to morph and change over time. You can’t stay stagnant.”

Jill Hertzberg: When I started, Jill pretty much had her sister working with her, but she was more part-time and she would come and go. My son went to law school and got a JD/MBA at the University of Miami. While in law school, he started doing rentals and sales for other stu-

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sheCENTER(FOLD) business acumen we didn’t have. We knew how to sell, but didn’t know how to systematically build the business. He helped us expand and grow by completely reworking our website and showed us the power of the internet.

“‘You know, mom, I’ve always been interested in business. I really want to work with you.’ I tried to talk him out of it...” dents and was quickly bitten by the bug. He got sworn in as an attorney but made the decision that he wasn’t going to practice law. I tried to talk him out of it. I said “You’re an attorney, be an attorney.” He didn’t listen, and I couldn’t be happier that he didn’t. He came in and it was incredible because he brought a lot of knowledge and

My younger daughter went to Washington University in St. Louis and studied marketing and business. She worked in New York City in digital media before joining us. She brought a fresh perspective to our advertising and further developed our online presence. She has taught us that by constantly evolving and being excited by change, we will not only survive, but we will thrive.

It wasn’t just that I was hiring my kids because they were my kids. They bring great value to the team and we see it time and time again. I honestly don’t think we would have been lucky enough to find anyone else like them. I realize how beneficial they are to us and what a natural fit it is to have them on our team. They love us, we love them. What could be better?

My younger daughter went to Washington University.

She was in New York with a media firm and heard a lot about what we were doing and the family business. She said, “You know what? This could be interesting for me,” and came in and did the same thing. Different people you respect can have different visions, intellect, and ex-

“When the market tanked, we kept on doing everything that we were doing. We didn’t stop.”

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sheCENTER(FOLD) periences that can add to your business. It wasn’t that I was just hiring my kids, they bring great value to the team and we see it time and time again.

Jill Eber: Family is wonderful and we’ll always be there for our family, but our business is precious to us. If each and every one of our family members weren’t incredible they wouldn’t be with us. I love working with my sister Felise. She has a lot of experience with design and is great with people; I only get praise with whomever she deals with.

NAWRB: It’s wonderful to hear how your strong family bonds have strengthened your business. Everyone is a key player with their own role. With that being said, The Jills have been ranked the number one Coldwell Banker Sales Team worldwide, multiple times. You have also set the record for the highest production of an agent team in the 107-year history of Coldwell Banker. The Jills have conquered real estate for Coldwell Banker in not only South Florida, but quite literally, the world. Are there any plans to switch your focus to another prized area?

Jill Eber: Yes, Polynesia! Fiji! But in all seriousness, it’s like Dorothy said, “There’s no place like home.”

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Tech Tools

by H

ello

Age

nt

Top

Tech Tools Real Estate Agents Should Be Using Fo r decades, the real estate and technology sectors ig-

nored each other. Technology was happily whizzing by at a dizzying pace, while real estate agents seemed content to print out piles of listings and wrangle endless email threads from clients. But with increasingly tech-savvy buyers and sellers demanding a better home-buying experience, agents can no longer rely on old-school methods.

Here’s the good news: New real estate-specific tools and apps have finally hit the market. Plus, real estate professionals are discovering they can also apply mainstream tech tools to maximize their business. Not only do these tools give you a big boost in the relevance department, they also save valuable time and energy. We call that a winwin. Let’s take a look at a few of them:

Reesio A cloud-based command center for real estate agents, Reesio enables you to manage everything from client interactions to listings, offers and transactions. The tool streamlines many of the processes agents handle through an interface with a straightforward, clean design. Plus, brokers can use Reesio to manage agents and assign leads—all with built-in compliance templates and internal reviews.

Agents and brokers often struggle to keep information organized. We’ve seen everything from day planners bursting

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at the seams to old Rolodexes that appear ready to fall apart at any second. Don’t let the volume of information related to your job hold you back. Simple all-in-one solutions like Reesio can keep you connected with clients and save you time throughout the home-buying and selling processes—that’s time you can invest in cultivating new leads.

myFirstAm® This app gives you access to a variety of services from First American’s web portal on your iPhone or iPad. You can check the status of an escrow order, estimate closing costs and fees and view in-depth data on different properties, including tax information and transaction histories.

Much of your work as a real estate agent is done on the go. Whether you’re listing a new property or taking clients on home show tours, you may feel you’re rarely in your office. This app lets you take valuable information with you so you can give your clients estimates and updates on the fly. In short, it’s another way you can add value to their home-buying experience.

Houzz If you’ve worked with clients for any length of time, they’ve likely sent you photos from Houzz. An online community, Houzz brings together homeowners and home professionals. What ini-

Tech Tools tially began as a way for individuals to find great contractors and designers has now evolved to include real estate agents. As an agent, you can join Houzz’s directory by creating a free profile. You can post homes you’ve helped folks buy or sell and have clients leave reviews based on their experience with you.

Buyers and sellers are looking at sites like Houzz long before they reach out to an agent. Meeting them where they are at in those early stages can spell huge potential for generating new leads. Plus, Houzz’s review feature gives you built-in credibility with this rapidly expanding audience.

Corefact This tool merges direct mail with your online presence by allowing you to send postcards and other mailings with a special key code for each customer. Once these individuals respond, Corefact will send you an alert, making it easy for you to follow up.

Agents have the option of uploading their own mailing list or sending out a radius mailing in any neighborhood.

Old-school marketing efforts have long included direct mail.

But these blanket mailings often made it difficult to measure who, if anyone, was actually interested in your services as a real estate agent. Corefact gives you greater control, letting you know who visits your website as a result of your postcard or letter. This means you no longer have to wait for them to email or call you. You can follow up using the information Corefact provides. More targeted efforts like these allow you to maximize your time and resources.

on those fragmented texts from clients to tell you where you should be. A well-organized agent is a trusted one.

Plus, if you’ve ever felt in the dark about your potential clients, and want to know whether they are a first-time buyer and where they’ve been searching for homes, Wufoo can take the mystery out of that equation. Create and send simple forms via email or embed them throughout your site—and get data that helps you better understand and serve your clients.

These new tech tools don’t have to be overwhelming. In fact, the influx of them means you can be choosy, picking the ones that best fit your needs and the needs of your clients. And remember, they aren’t about replacing you as an agent—rather, they’re there to make your job easier.

They free you up so you can focus on the things that matter most: Your clients.

Written by Hello Agent Hello Agent is a brand new tech tool that analyzes real estate agents’ contacts and identifies those most likely to buy or sell. Invest your time and effort where it counts.

Visit www.helloagent.com to learn more and try it for free.

“A well-organized agent is a trusted one.”

Wufoo A tool that allows you to create forms online, Wufoo also keeps real estate agents organized.

Their handy Appointment Booking and Scheduling Form makes it a cinch to manage property showings.

You can even sync your calendar to the tool so your clients know when you’re available. Wufoo also allows you to send large files and applications. And, their forms make it simple to send surveys and questionnaires to gather homebuyer feedback.

All too often, agents resign themselves to archaic methods of sending forms (or printing them) simply because the files are too large to handle. Wufoo changes that by making it simple to share those forms with your clients regardless of your email client’s size limit. It also offers an easy way to create a showings calendar, so you no longer have to rely NAWRB MAGAZINE |

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Government

Reading about the overwhelming enthusiasm gener-

ated by NAWRB’s Inaugural Conference this fall, I was struck by the similarities between its highlights and the work our team undertakes every day. On the topic of the conference, let me congratulate NAWRB for shining the light on OMWIs and Section 342 with Congresswoman Maxine Waters. Knowing the importance of fully implementing this law to your community, I commend the effort to make a real impact.

This initiative parallels a very recent success Women Impacting Public Policy (WIPP) just achieved. Actually making this policy change followed years of raising awareness of a long-standing barrier that has continued to plague women entrepreneurs: access to the federal market place. How this all came to pass is a good story intertwining the key pieces of change, education, advocacy and making an impact.

government also buys everything – from janitorial services to consulting services to basic pens and pencils. It is not just planes, tanks and ships. For many businesses, it offers a great opportunity to expand, and, needless to say, a market that should include women entrepreneurs.

Enter the Women-Owned Small Business (WOSB) Federal Contract Program. I will save the details for another article, but Congress created the program because woman-owned businesses were not getting contracts with the federal government. After a decade-long saga and two Administrations, it was put into place. And that is where we begin.

Educate

No one on Capitol Hill (or anywhere for that matter) To begin, a little background. When WIPP was founded can know all the ins and outs of government. Every in 2001, one of our policy objectives was to remove barri- campaign to make a change begins with education. ers to markets for women entrepreneurs. Today, we focus on two markets in particular where women business owners lag far behind: the international market and exporting, and the federal market through procurement. This is all about the latter, but I encourage you to look at WIPP’s work on exporting through the ExportNOW program.

To many of you, “federal procurement” may sound niche or just for the big companies of the world. You would be wrong. It is a $500 billion a year market and almost a quarter of it is required to go to small businesses— including thousands of contracts under $150,000. The

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Since the WOSB program’s inception in 2011, WIPP has been educating Congress about how the program works – or in our case, how it could work better. This is the gateway to advocacy, the real first step to getting

Government

erated when n e g s i t y tha ve problems...” g r e e en er to sol h t h zing t toget a am n ge s ’ t “I me o w

someone to listen. The best outcome is simply hearing the following: “Really? I didn’t know that. We’ll have to look into it.”

“WIPP has been educating Congress about how the program works – or in our case, how it could work better.”

Our education efforts on the WOSB program went well beyond Capitol Hill. Agencies had to be educated about how to use the program and the foot soldiers of the contracting world. The contracting officers spread all across the country needed the information. Sometimes educating means shouting the loudest, the most often, and building a strong alliance to expand your voice.

This was certainly the case with WIPP’s ChallengeHer campaign. A partnership between WIPP, the Small Business Administration and American Express, the ChallengeHer campaign tours the country educating women business owners, agency small business advocates and contracting officers alike on business. I am proud to say the program, entering its third year, has been in 23 cities and reached nearly 10,000 women.

One key to educating is that it never stops. Spread your information broadly, not just with the only stakeholders that you think matter. Make sure your membership or colleagues know the issues as well. The more people familiar with your topic, the more people you can ask to do something, to advocate.

Advocate

In the crowded space that has become the advocacy world, thinking strategically and holding interest in your

issue remain of paramount importance. From all accounts, the NAWRB Inaugural Conference was a homerun in both. Bringing in Rep. Waters, the author of OMWI legislation, smartly elevated the dialogue with a genuine policymaker and kept enthusiasm high. The difference between advocacy and education is the “ask.”

In WIPP’s advocacy effort to change the WOSB program, it began with creating a strategy. First, we had to identify the stakeholders that would a) have the power to help and b) would support our effort. In the complex jurisdictional, committee-based world of Capitol Hill, that can be tough. Our allies were the House and Senate Small Business Committee Chairs as well as Senator Jeanne Shaheen and Representative Jackie Speier, but as you will learn, we needed a few more. For three years, including more than a dozen hearings, and countless meetings, our advocacy team kept pushing our request – even on deaf ears. We had other successes, but as policy advocates know, change takes time. Advocacy is a tireless world of hearing no, until you hear yes.

That can be both tiring and deflating. Which is why keeping interest high is critical. So let me address enthusiasm in our world: it’s amazing the energy that is generated when women get together to solve problems, whether in their own business or solving national problems for women business owners.

“Advocacy is a tireless world of hearing no, until you hear yes.”

Earlier this year, WIPP’s conference in Washington, D.C., generated enthusiasm in a historic hearing chaired

by Senator Maria Cantwell (D-WA) on women’s busiNAWRB MAGAZINE |

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Government

ad it. e r , t r e ale u s s i e to t B i R v n i W “The next time you see a NA your e v i e rec acy.” u That ’s edu c o y o v n e d c ation. And wh at ’s a h T . the annual conference, attend

ness issues held on Capitol Hill. You had to be there to feel it. Hundreds of women business owners packed the largest hearing room in the Senate, and in turn the Senate showed up in force. Hearings, usually pretty dry and orderly, were nothing like this one. In the words of one Senator, this was “more like a rally.”

But a hearing is not enough. Our members fanned out in typical “fly-in” fashion to push the message to their legislators. Immediately following the conference, senators introduced legislation designed to remove a barrier to federal contracting for women business owners. House members rallied behind it. Right before our eyes, we could see the impact of our advocacy.

Make an Impact

Although School House Rock’s “I’m Just a Bill” is how law making is supposed to happen, nothing is further from how Capitol Hill currently works. This year, the Congress is on track to pass the fewest number of laws in modern history. Of the more than 10,000 bills and resolutions introduced this Congress, a meager five percent will become actual law. The truth is, getting a good bill with bi-partisan support is just the beginning.

or the annual defense authorization bill that keeps our military functioning.

And that’s exactly what we did. We made new friends on the Armed Services Committees and tried to get our issue included in one of the few bills that will actually be enacted. We appealed (in reality, pestered) to every lawmaker involved with the legislation, expanding our reach to include many others (like the obscure, but powerful “Rules Committee”), and redoubled our outreach efforts. Most importantly, we activated our army of women business owners nationwide alongside more than a dozen of our partner organizations. Every step of the way, however, was more education. We had to keep WIPP members apprised not only of the issue, but also of the process, so they could effectively advocate.

Change

And so, against all odds, Section 825 of the FY2015 National Defense Authorization Act provides for an important change to the WOSB program. It grants sole source authority, allowing women-owned small businesses to be directly awarded contracts up to $6.5 million. A critical tool for breaking into the market, sole source authority was available to all the other small business contracting programs – except the women’s program. Simply put, it will allow more women to win federal contracts and open the market to the growing number of women entrepreneurs.

It took years – literally years – of education and ongoing advocacy efforts to get the issue on Congress’ radar, get legislation introduced, and then get it enacted. This is the magic formula for actually making change on a national stage.

If you want to make an impact—not simply raise awareness—you have to take your strategy much further. You have to be creative. The bill you support needs to get added to one of the “must-pass” bills Congress takes up each year, either funding (appropriations) bills

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So the next time you see a NAWRB issue alert, read it.

That’s education. And when you receive your invite to the annual conference, attend. That’s advocacy. If you do both, you are well on your way to making an impact.

Ann Sullivan

WIPP Government Relations

Women-Owned Business Certification Four fundamental categories taking the mystery out of being certified.

1. Benefits of being certified:

• Access to contracting opportunities specifically for Women-Owned Businesses • Connection to professional community of women and women business owners • Highlights your technical expertise and experience while providing exposure to the Industry and validating your business • Certified businesses can tap into a multitude of public and private sector contracts and support client initiatives

2. Requirements for Certification:

3. Process of Certification:

1. Application available online at NAWRB.com 2. Submit completed hard copy application with supporting documentation, sworn affidavit and application processing fee in a 3-ring binder 3. Review of application packet by certification staff 4. Follow up with applicant to obtain any additional materials necessary 5. Committee and Board Review 6. Certification can take up to 45 days with complete application

4. Why Certify with NAWRB:

NAWRB is the only third-party, industry-specific certifier of Women-Owned Business (WOB) and Minority Women-Owned Business (MWOB) certifications specializing in the housing economy.

Advance your company to the next plateau.

Take advantage of the benefits of being certified as a Women-Owned Business.

To obtain your application: visit www.NAWRB.com | (949) 559-9800 | certification@NAWRB.com

NAWRB

• The business must be 51 percent or more women-owned, managed and operated • The women business owner must be a U.S. citizen or legal resident alien • Technical expertise in the housing economy

Women-Owned Business Certification Specializing in the Housing Economy

NAWRB

e t a c di a r o E eurs T n e lps r e p H re t l l n i E B e n s e en f om e D W r al o n F o i s Nat Barrier Women-owned small businesses (WOSB) are mak-

ing history as they await the certain passage of the Women’s Small Business Procurement Parity Act. This bill can be found in the FY 2015 National Defense Authorization Act (NDAA). It was a strategic move to insert the Women’s Small Business Procurement Parity Act into the NDAA since the bill is likely to pass. As of 2013, the NDAA has been passed for 53 consecutive years. Although it has been a struggle for WOSB, the insertion of the women’s legislation in the NDAA will bring massive improvements.

across the board in addition to improving the program.

Nearly every small business contracting program is already afforded this right.

In terms of the DoD, women-owned small businesses are receiving assistance through military services and some defense agencies. Small business professionals are available at each of their procurement and contract management offices to help women-owned small businesses market their products and services to DoD. These specialists also provide information and assistance as to how to be placed on solicitation mailing lists, defense The Women’s Small Business Procurement Parity Act, procurement procedures and find the best contract and a bill that will increase access for women business own- subcontract opportunities. ers pursuing contracts with the federal government through the WOSB procurement program, was formally DoD also has employment opportunities for women launched in 2011 and only had a 17 percent chance of in housing. Women can visit usajobs.gov and browse being enacted in its introduction. Now the bill will pass through different career industries including a Construcwith a high degree of certainty, a dramatic difference tion Control Representative and Realty Specialist. from its introduction.

Interestingly, in 2013, the Department of Defense’s goal The bill is critically important to launch women-entre- for prime contracting achievement for women-owned preneurs into government contracting. Obstacles that face businesses was five percent. However, women-owned women-owned small businesses at the moment include businesses only reached 3.57 percent. In contrast, the subrestrictions on the type and size of contracts awarded. This contracting achievement goal was also five percent but bill will help remove these hindrances by eradicating the women-owned small businesses exceeded that percentage sole source authority restriction to allow for equal rights and reached 5.7 percent. It is the hopes of women-owned

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Women Entrepreneurs small businesses and its supporters that these statistics will improve with passage of the Women’s Small Business Procurement Parity Act. With its passage by the House and Senate, President Obama must sign the bill to complete the process.

Women-owned small businesses are becoming more diverse, increasing their ability to make money, and expanding in to other industries. In addition, they are adding more growth to our national economy as their companies gain momentum and diversify. Needless to say, 2014 has been an exciting year for women-owned Year to date, the DoD has given almost $2 billion in small businesses. prime contracts and $2.4 billion in subcontracts to WOSB concerns.

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what WOMEN WANT

Have you read or watched something lately that impacted you?

Share your thoughts with NAWRB Magazine’s editorial staff and readers. Send reviews to media@nawrb.com

BOOKS Fluency

By Jennifer Foehner Wells In the 1960s, NASA discovers an alien ship that’s hidden in an asteroid belt. NASA heavily monitors the ship for decades, working hard to create suitable technology for space travel. Dr. Jane Holloway, a confident researcher of nearly-extinct languages, plays a strong female lead as she is recruited to team up with military scientists sent to finally explore the ship. This thriller follows Dr. Holloway as she investigates the ship while trying to fight for ultimate survival. She surpasses the traditional “damsel in distress” role as she operates with confidence and control.

The Book of Joe

By Jonathan Tropper After high school, Joe Goffman left his hometown of Bush Falls with no regrets. He writes a book about Bush Falls that exposes its secrets which becomes a hit novel and movie.

As Joe struggles with producing another novel, disaster strikes: his father suffers a stroke.

Joe must return to the very hometown he disparaged. His brother ignores him, books are thrown at his house, and he gets harassed by former classmates. But Joe also reconnects with old friends that maintained their loyalty and learns that even the worst offenders can have second chances.

Us

By David Nicholls

Douglas Peterson won the heart of his wife, Connie, when they met in London. Decades later, they live a seemingly happy life with their son. But Douglas’ life is disrupted when Connie asks for a divorce. This announcement coincides with the European trip they planned for their son, a budding artist who could benefit from its famed museums. Determined to rekindle the marital flame and connect with his son, Douglas embarks on the trip. The romance and history of Europe comes to life in this novel that explores the complex bonds of marriage and family.

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FILMS The Hunger Games: MockingJay - Part I

Starring Jennifer Lawrence, Josh Hutcherson, Liam Hemsworth

After the wildly popular release of the first “The Hunger Games” movie, the second edition is finally coming out to a massive eager audience. This saga continues with Katniss Everdeen making a difficult decision that could alter the fate of the nation. After ending up in District 13, Katniss fights to save Peeta and ultimately moves the nation with her bravery. However, disaster looms as her alliance with President Coin becomes more fragile.

Big Hero 6

Starring Ryan Potter, Scott Adsit, Jamie Chung

Take the family to see this action-packed comedy-adventure brought to you by Walt Disney Animation Studios. “Big Hero 6” is about a young boy, Hiro Hamada, who is intelligent and technology savvy. When a devastating event occurs in the city of San Fransokyo, Hiro and his group of friends, including a gigantic, inflatable robot named Baymax, transform into to heroes and try to save the day. The film will fill your heart with joy and make you laugh out loud as the “Big Hero 6” team goes on an exciting journey together.

Interstellar

Starring Matthew McConaughey, Anne Hathaway, Jessica Chastain The Earth’s future is extremely grim in this sci-fi film. Not only has the planet been overcome by drought and food shortage, but climate changes are making matters worse for remaining people on Earth. With humans becoming close to extinction, it is up to a group of explorers to investigate other planets in the solar system to see which ones can sustain life. As the crew of the Endurance embark on an interstellar voyage, they must face the challenge of time in order to get back to Earth before more people die. For the captain, he has a difficult decision ahead of him that involves leaving his children behind forever.

what WOMEN WANT

: d l o s y a B r t g e t n sof ed Y

M u t e a statement i mak

rs e t t a m Gray

n o s a e s this

Part 3:

Women’s Cancers:

New treatments depend on innovation

In this series – this part explores the search for innovative new therapies – we explore crucial strides made against women’s cancers by City of Hope researchers during the past year. The projects are many and varied, involving the basics of fighting cancer, analyses of who’s at greatest risk, the search for surprising new therapies, the testing of new treatments and the follow-up with survivors and their partners.

DEVELOPING INNOVATIVE THERAPEUTICS

By Elizabeth Stewart

Reprinted with permission from City of Hope

Sophisticated technology for targeted treatment This year, John C. Williams, Ph.D., associate professor of molecular medicine, published research in the Proceedings of the National Academy of Sciences on his advances in developing meditope technology.

These engineered peptides “fit” into antibodies, much like a lock and key, making it possible to selectively deliver material to cancer cells. This research also earned prestigious funding from the W.M. Keck Foundation, which will help Williams and his team advance its applications. This includes the recent development of several new meditopes that have the ability to attach to therapeutic antibodies for several different forms of cancer, including breast cancer.

Williams also continues to work with Jinha Park, M.D., Ph.D., assistant professor of diagnostic radiology, to design meditopes to bind specifically to novel HER2 antibodies that attack HER2 breast cancer. Their work is critical, since it provides a new, more targeted treatment for this aggressive, hard-to-treat form of breast cancer.

In another study, City of Hope investigators have developed a new PET imaging agent.

They placed a radioactive particle on Herceptin, a common treatment for women with HER2 positive breast cancer.

Joanne Mortimer, M.D., director of the Women’s Cancers Program; along with Andrew Raubitschek, M.D., chief of radioimmunotherapy; David Colcher, Ph.D., deputy director of radioimmunotherapy; and James Bading, Ph.D., research professor of cancer immunotherapeutics and tumor immunology, were able to show that the particle “lit up” HER2 in a very sensitive and clear way, helping them to identify the cancer.

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In Part 1: We explained ways in which researchers are seeking to fight cancer through basic science.

In Part 2: We showed how researchers are trying to better understand risks and prevention.

Each study plays a role. Each adds to what we know about cancer. Each brings us closer to cures.

Photo: City of Hope researchers recently received a $1 million Keck Foundation grant to study meditopes. Researchers here discovered a site in the middle of a monoclonal antibody where a peptide can easily attach, acting as a hitch that allows them to easily attach drugs to the antibodies. In this way, there’s potential to harness the immune system to fight cancer and other diseases.

The researchers even detected HER2 positive tumors in patients who were defined as HER2 negative by pathologists. Mortimer and the team of researchers are now using this technology to identify women who will benefit from trastuzumab emtansine (T-DMI), a new type of treatment for HER2 positive breast cancer. Using this approach may provide better results than the current detection methods and could better predict which patients will benefit from receiving T-DMI.

Looking to clues, and cures, in nature John H. Yim, M.D., associate professor of surgery, made strides in an effort to bring a naturally-derived treatment to women who are battling breast and ovarian cancers.

Baicalein, which is derived from a Chinese herb, enhances the activity of a tumor-suppressing protein and causes cancer cells to die. In recent mouse studies, Yim found that baicalein taken in oral form was as effective as intravenous administration. This discovery is a major benefit for patients, because it could make the compound even less expensive and more convenient to access and take. He also identified a gene that has increased activity in tumors when baicalein is present, and plans to use measurements of this gene’s activity to understand whether baicalein is working in patients.

Yim aims to open a phase I clinical trial to test baicalein in women with breast cancer in the next year.

Next: Part 4: Clinical Trials Play Rivotal Role

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Roasted Brussels Sprouts with Honey-Balsamic Glaze Ingredients: 1 ½ pounds Brussels sprouts, ends trimmed and halved lengthwise 2 Tbsp olive oil, divided in half ¾ tsp kosher salt

½ tsp freshly ground black pepper 1 Tbsp honey 1 Tbsp balsamic vinegar

Directions: 1. Preheat oven to 425°F. 2. Place Brussels sprouts on a parchment-lined baking sheet and drizzle with 1 tablespoon olive oil. Sprinkle kosher salt and pepper; toss to coat.

3. Bake for 10 minutes, remove from oven and stir gently.

Bake for an additional 10 minutes or until sprouts are tender and caramelized.

4. Place roasted Brussels sprouts in a bowl and add remaining olive oil, honey and balsamic vinegar. Gently toss to coat and season with salt and pepper, if necessary.

* Recipe Sources located in index

Mixed Berry Pie with Orange Marmalade Ingredients: 2 frozen pie crusts, thawed 1 cup plus 1 Tbsp sugar ¼ cup orange marmalade ¼ cup cornstarch ¼ tsp ground allspice 1 ¾ cups frozen unsweetened raspberries, thawed & drained

1 ½ cups frozen unsweetened blueberries, thawed & drained 1 ¼ cups fresh cranberries 1 egg, beaten

Directions: 1. Position rack in bottom third of oven and preheat to 375°F. 2. Combine 1 cup sugar, orange marmalade, cornstarch, allspice, and all berries in a large bowl. Toss gently.

3. Transfer one pie crust to a 9-inch diameter glass pie dish. Cut second pie crust into fourteen ½-inch-wide strips for lattice top.

Set aside.

4. Mound berry mixture into pie dish. Arrange 7 dough strips atop filling, spacing evenly. Create lattice by placing remaining

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strips on top and at a right angle to the first 7 strips. Trim ends of strips to be even with the crust overhang. Fold strip ends and overhang under, pressing to seal and form a rim.

5. Brush lattice with beaten egg and sprinkle with remaining 1 tablespoon of sugar.

6. Place pie on a baking sheet lined with aluminum foil. Bake until golden brown and filling bubbles thickly, about 1 hour 15 minutes. *Cover crust edge with aluminum foil if browning too quickly.

: s s Fitne nsions te

x Hip E

As cold weather settles in, it’s time to bring your workouts indoors. An exercise ball is an inexpensive and handy tool to amplify your everyday fitness routine whether at the gym or in the comfort of your own home. Use them for adding stability to your exercises or for stretching. Although the uses for exercise balls are endless, we found the perfect exercise to strengthen your hips, glutes, and lower back.

1. Lie face-down on your exercise ball with your pelvis centered. Firmly plant your hands shoulder-width apart on the ground for balance.

2. Your feet should also be shoulder-length apart with toes touching the ground.

3. Squeeze your glutes and raise your legs so that they are parallel to the ground.

Hold this position for 1-2 seconds before lowering back to your starting position.

This is one rep.

Complete 10 to 12 reps

*For an added challenge, lift and extend your arms straight out while you lift your legs so that your body forms a straight line. Hold this position for 1-2 seconds.

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k a e p S

Kay Simon, FDIC OMWI; Aissa Gomez, NAWRB member; Tina Marie Estrada, NAWRB member; Linda Washington-Douglas, Minority and Women Outreach Program Specialist of OMWI, FDIC.; Desirée Patno, NAWRB CEO; Mashell Stith; Irma Delgado-Trikas; Velita Burnett, FDIC OMWI; and Rhonda Trent, OCC-OMWI Business Procurement Analyst, snap a great picture outside of the FDIC Conference Room for the FDIC Technical Assistance Day.

Pamela Valenciano and NAWRB member Tina Marie Estrada smile for the camera at the FDIC Technical Assistance Day prior to the NAWRB member meeting.

Members Irma Delgado-Trikas and her husband Tony Trikas; Tina Marie Estrada; Mashell Stith; Aissa Gomez; and Desirée Patno take turns sharing best practices while enjoying a nice meal at the NAWRB meeting held at the FDIC Technical Assistance Day.

e t i r W

Speak/Write/Attend

NAWRB Member Renee Marie Smith had her article, “’The Big 3’ Issues Impacting Women as 2014 Winds Down: Awareness, Opportunities and Access” published in the Huffington Post, which highlighted the issues covered at the NAWRB Inaugural Conference.

NAWRB Member Joyce Essex was featured as the cover of Beverly Hills Weekly. The magazine wrote a cover story on her support and participation in the organization Operation: Children.

NAWRB Member Brigitte Respaut Clément of Of Course Miami real estate featured a blog regarding the Roaring Twenty Awards Gala at the NAWRB Inaugural Conference. Clément was the recipient of The Gatsby Award.

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Speak/Write/Attend

d n e t At NAWRB Member Renee Marie Smith moderated a session with Congresswoman Judy Chu at the NAWRB Inaugural Conference.

NAWRB Members Renee Marie Smith, Elizabeth Goodchild, Cameron DeAngelo, and Brigitte Respaut-Clement attended the Roaring Twenties-themed gala at the NAWRB Inaugural Conference.

NAWRB Member Donna Nazir featured with Congresswoman Maxine Waters at the NAWRB Inaugural Conference.

NAWRB Member Carlotta Diaz attended the 2014 NAHREP National Convention in Los Angeles, CA.

NAWRB Member Angelica Suarez (top far right) attended the Latina Brunch at the 2014 NAHREP National Convention in Los Angeles, CA. The photo also features Desolina Avila (bottom left) and Ileane Gaxiola.

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NAWRB Member Brandy Nelson (far right) attended the Keller Williams Agent Leadership Council (ALC) which is a monthly event where the top 20% of associates in the market center meet to make major decisions. From left: Laura Taylor, Kristen Kalepp, Mo Anderson, Donna Eide, Signe Beck.

NAWRB Member Heather Boren attended the Southland Regional Association of Realtors (SRAR) Legislative & Community Reception in Granada Hills, CA. The event brought legislative representatives and community leaders together for a meet-andgreet with attendees.

NAWRB Member Valarie Kennedy, Ivy Melton, and Mashell Stith wear their Roaring Twenties attire for the Roaring Twenty Awards Gala at the NAWRB Inaugural Conference.

Network

upcoming

EVENTS December 2 FDIC Technical Assistance Day (Arlington, Virginia) The Federal Deposit Insurance Corporation (FDIC) Technical Assistance Day forum is hosted by the FDIC, in partnership with the Minority Business Development Agency, and other federal financial regulatory agencies. This event will provide networking opportunities, and firms will be able to talk with representatives from different agencies about contracting possibilities. Ideal guest include facilities, investigations and other receivership assistance, as well as businesses that can provide financial services, such as auditing, and accounting.

December 8 CMBA Legal Issues Conference 2014 (Costa Mesa, CA) The CMBA Legal Issues Conference 2014, hosted by the California Mortgage Bankers Association (CMBA), will give attendees the latest information on what is going on in the mortgage industry. It is important to be up to date come 2015. The CMBA is an organization that seeks to be the voice of the resident and commercial/multi-family real estate finance industry before regulators, the California Legislature, and more. This event is sponsored by Wells Fargo, Bankers Insurance Services, CMG Financial, and others

December 23

SBA Workshop: Financing Your Small Business (Boise, ID) The Financing Your Small Business workshop, hosted solely by the U.S. Small Business Administration (SBA), a company that works to help Americans start, construct and grow small businesses, will be held at the SBA’s District Office and will help attendees communicate with lenders more effectively. Guests will learn how to assemble loan applications, what a lender is looking for, credit criteria, finding your financial need, and alternative financing.

January 7

CRE Finance Council January Conference 2015 (Miami Beach, Florida) The CRE Finance Council January Conference 2015 is hosted by the Commercial Real Estate (CRE) Financial Council, a company that helps finance buildings, industrial and warehouse properties, and more. Those with an interest or background in commercial real estate will especially benefit from the Finance Council January Conference 2015, as it which will feature esteemed speakers, networking events and sessions on crowd funding, GSE multifamily housing and portfolios for lenders. The state of the CRE finance sector will also be discussed at this two-and-a-half day event.

January 22

Women, Capital, and Real Estate: Pathways to Financial Success (Everywhere, Webinar) The Irvine Chamber of Commerce presents the “Women, Capital, and Real Estate: Pathways to Financial Success” webinar with NAWRB CEO and Founder Desirée Patno. Catering to the vast housing continuum, this webinar will explore the many opportunities for women and certified women-owned businesses in the housing economy in addition to available finance support programs. Gain the proper awareness, opportunities, and access to improve your finances and boost your business acumen by attending this webinar.

January 23

New England Mortgage Expo (Uncasville, Conn.)

The New England Mortgage Expo. is presented by The Warren Group and is a wonderful opportunity for those in the mortgage sector; commercial and residential. There will be noted mortgage speakers and distinguished event partners in attendance, such as Connecticut Mortgage Bankers Association, INC. (CMBA), Fannie Mae, and many others. Attendees will be able to network, view live podcasts and participate in fun raffles. This event is sponsored by Carrington Mortgage Services, CATIC, Ellie Mae, and many other esteemed companies.

January 25-28 ABA Insurance Risk Management Annual Forum (New Orleans, Louisiana) American Bankers Association (ABA) is hosting the ABA Insurance Risk Management Forum, a four-day event that will educate guests on advanced and cost-effective ways to use insurance to lessen risks in fast changing markets. Attendees will accompany insurance management professionals that will bring forth reasonable solutions and new approaches to business demand . Some sponsors for the forum include CNA, Great American Insurance Group, and Starr Companies.

January 29-30 California Association of Mortgage Professionals Sales & Marketing Conference (University City, CA) The 2015 Sales & Marketing Conference is hosted by The California Association of Mortgage Professionals (CAMP) and will exhibit the businesses, products, networking and marketing that is vital to succeed in the mortgage industry. There will be many speakers and panels training attendees in compliance issues, and much more. CAMP is a professional trade organization of salespersons, real estate brokers, and affiliated lenders who help consumers obtain commercial and personal real estate.

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index ADVERTISERS C Chrimata, Inc......................................51 City of Hope................. 5, 18, 48, 49, 60 D Desirée Patno Enterprises, Inc............45 H Harmony Escrow, Inc.........................36 L Landy Insurance Agency....................19 N NAWRB....................... 3, 13, 20, 22, 43 NMP Magazine.................................58 P Prospect Mortgage.............................35

COMPANIES A All Vegas Valley Realty.......................11 Allure Realty Group LLC..................12 Alterra................................................12 Alvarez Lincoln and Jaguar................16 American Bankers Association...........55 American Express...............................41 Annie-Mac.........................................55 Arista National Title..........................10 Avatar Property Services, Inc..............10 B Ballard Spahr........................................3 Bank of America................................55 Bankers Insurance Services.................55 Beckles Collective, The........... 16, 17, 18 Beverly Hills Weekly..........................53 Blue Turf LLC...................................11 Brazen Sotheby’s International Realty..........................3 C California Association of Mortgage Professionals, The...........55 California Mortgage Bankers Association.......................55 Capital Real Estate.............................11 Carrington Mortgage Services...........55 CATIC...............................................55 Chase.................................13, 16, 17, 55 City of Hope.......................... 18, 48, 49 CMG Financial..................................55 CNA...................................................55 Coldwell Banker Jane Henry Realtors.......................10

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Coldwell Banker........................... 31, 35 Collingwood Group, The......................3 Consumer Financial Protection Bureau.... 14, 15, 16, 18, 21, 22, 23, 24 Corefact..............................................39 E Ellie Mae............................................55 Emerald Management........................11 Exit Realty.............................. 14, 18, 50 F Fannie Mae.........................7, 15, 16, 55 Federal Deposit Insurance Corporation.......... 14, 18, 21, 22, 23, 24, 53, 55 Freddie Mac............ 7, 13, 15, 16, 35, 55 G Genesis Auctions................................11 Goodchild Homes..............................10 Great American Insurance Group......55 H Hello Agent........................................39 Houzz.................................................38 Huffington Post..................................53

Omni Group, The...............................16 Option First Realty Inc......................11 P PNC Financial Services Group..........21 Premium Realty Group......................12 R RE/MAX Estate Properties...............11 RE/MAX...........................................11 Realty World Westcamp Realty.........11 Reesio.................................................38 Ryan Hill Realty.................................10 S Safeguard Properties.............................3 Sag Corporation.................................21 Sellstate Island Properties...................10 Sky Group, Inc, The............................10 SBA......... 7,13,14,15,16,17,18,20,41,55 Southland, Regional Association of Realtors...................54 Starr Companies.................................55 T TeamCFO..........................................18 Thunderbird Real Estate.....................11

I Innovar Environmental, Inc......... 12, 18

V Veterans Preference............................11

K Keller Williams Realty Metropolitan................. 10, 54

W Warren Group, The.............................55 Wells Fargo.......................13, 14, 16, 55 Women Impacting Public Policy.................18, 40 , 41, 55 W.P. Carey..........................................55 Wufoo................................................39

M Marples & Associates Realtors...........11 Morgan Stanley...................7, 13, 15, 16 MUFG Union Bank............... 13, 15, 16 myFirstAM........................................38 N NAHREP..........................................54 National Association of Realtors.................................. 8, 55 NAWRB....................7, 9, 13, 14, 15, 16, 17, 18, 20, 21, 23, 36, 40, 41, 53, 54, 55 National Association of Women Business Owners...............55 National Women’s Business Council....... 7,9,13,14,16,17,18,20,21 Netco Title and Settlement Services........................10 New American Funding....10, 12, 16, 17 O Of Course Miami...............................53

Z Z Realty..............................................10

PEOPLE A Anderson, Mo................................... 54 Andrew, Erin.................... 14, 15, 16, 17 Anspach, Zoe.................................... 10 Arndorfer, Amy................................. 12 Arvielo, Patty................................10, 17 Avila, Desolina.................................. 54 B Bading, James.................................... 48 Baker, Gloria..................................... 11 Barber, Leslie..................................... 55 Barlow, Melissa................................. 11

index Beck, Signe........................................ 54 Beckles, Ingrid..............................16, 18 Bonnell, Tami.................................... 17 Booker, Ashante............................... 18 Boren, Heather.................................. 54 Brooks, Melodee..........14, 15, 18, 21, 23 Brown, Amanda................ 16, 17, 18, 20 Burnett, Velita................................... 53 Burns, Meg.......................................... 3

Hertzberg, Jill........ 30, 31, 32, 33, 34, 35 Holly, Krisztina.................................. 21

C Cantwell, Maria................................. 41 Chavez, Jennifer Fair......................... 17 Christensen, Victor.......................14, 23 Chu, Judy......................................17, 54 Clement, Brigitte Respaut............53, 54 Colcher, David................................... 48 Coleman, Susan................................. 20 Cordray, Richard...........................23, 24 Curry, Thomas J............................23, 24

K Kalayil, Ann....................................... 55 Kalepp, Kristen.................................. 54 Kasoff, Barbara.............................17, 18 Kennedy, Valarie...........................11, 54

D Deangelo, Cameron......................11, 54 Delgado-Trikas, Irma....................10, 53 Diaz, Carlotta...............................11, 54 Dweck, Carl S................................... 21 E Eber, Jill................. 30, 31, 32, 33, 34, 35 Eide, Donna...................................... 54 Escardo, Irene.................................... 16 Essex, Joyce........................................ 53 Estrada, Tina Marie................ 16, 17, 53 F Fairwather, Brittney........................... 11 G Gaxiola, Ileana................................... 54 Gomez, Aissa................................12, 53 Goodchild, Liz.............................10, 54 Graham, Katharine.............................. 9 Gruenberg, Martin J.....................23, 24 H Henry-Weaver, Lisa........................... 10

INFOGRAPHIC SOURCES

I Inouye, Jay....................................15, 18 Ishimaru, Stuart...........14, 15, 16, 21, 23 J Jones, Marianne................................... 7

M Macias, Cayce.................................... 10 Mangogna, Debra.............................. 11 Manning, Amy.................................. 18 Marcello, Beth................................... 21 Marples, Cathie................................. 11 Matz, Debbie................................23, 24 Mceuen, Elwanna.............................. 11 Mclymont, Rosalind.......................... 21 Meeks, Gregory........................ 6, 23, 25 Melton, Ivy...................................10, 54 Mitton, Linda.................................... 10 Mortimer, Joanne.............................. 48 Moss, Michelle.................................. 11 N Nazir, Donna ...............................10, 54 Nelson, Brandy.................................. 54 Nevarez, Lori................................12, 18 Nichols, Gina.................................... 11 O O’Connor, Sandra Day........................ 9 O’Hara, Kathleen.............................. 10 P Park, Jinha......................................... 48 Patno, Desirée........... 6, 7, 14, 15, 16, 17, 18, 39, 53, 55 Porche, Deidra................................... 16 Pridgen, Shendora............................. 15

• www.history.com/topics/womens-history/19th-amendment • www.wcr.org/about-us/our-history/ • www.wcr.org/about-us/our-history/ • en.wikipedia.org/wiki/Fannie_Mae • sparkcharts.sparknotes.com/womens/womens/section2.php • en.wikipedia.org/wiki/Equal_Rights_Amendment • www.nbcnews.com/id/41871339/ns/nbc_nightly_news_with_brian_ williams/t/history-making-moments-womens-history/#.VHOf4IvF_uM • www.bls.gov/mlr/1990/09/art1full.pdf

R Rao, Amitha........................................ 3 Raubitschek, Andrew........................ 48 Rice, Condoleezza............................... 9 Robb, Alicia....................................... 20 Roberts, Joshua.................................. 17 Robinson, Frank..................... 15, 16, 18 Robinson, Heidi................................ 11 Ryan, Teresa....................................... 10 S Sanchez, Linda....................... 16, 17, 18 Sato, Judith........................................ 18 Shaheen, Jeanne................................. 41 Simon, Kay........................................ 53 Slice, Kristin...................................... 55 Smith, Renee Marie.................. 4, 6, 17, 20, 21,22, 53, 54 Speier, Jackie...................................... 41 Stewart, Elizabeth..........................5, 48 Stith, Mashell...............................53, 54 Suarez, Angelica................................ 54 Sullivan, Ann............. 4, 6, 40, 41, 42, 55 Sutherland, Anne................................ 3 T Taylor, Laura..................................... 54 Thompson, Zoritha............................ 50 Trent, Rhonda................................... 53 V Valenciano, Pamela............................ 53 Velasco, Maria................................... 12 W Wagner, Melva................................... 10 Washington-Douglas, Linda............. 53 Waters, Maxine.....................6, 7, 14, 15, 16, 21, 23, 40, 41, 54 White, Mary Jo.............................23, 24 Williams, John C............................... 48 Williams, Marleitha.... 14,15, 18, 19, 23 Wilson, Roxanne............................... 15 Wisehart, Nicole................................ 12 Y Yamanaka, Laura..........................17, 18 Yellen, Janet L...............................23, 24 Yim, John.......................................... 45 Yu, Grace............................................. 3

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