a|r|e Fall 2018

The official publication of the Asian Real Estate Association of America

THE SPECIAL 15 YEAR EDITION

Proud supporter of AREAA Let’s work together to give your clients the home loan resources they need

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Connect clients to our $200 bonus offer For a limited time, when your clients get a Freddie Mac® Home Possible®, Affordable Loan Solution®, VA or FHA mortgage from Bank of America, they'll receive a $200 bonus. Must apply by November 30, 2018.

• Homebuyer education may be required for first-time buyers from a HUD-approved counseling agency, including Connect to Own® providers, or by completing Freddie Mac’s CreditSmart® program.

• Income and loan amount limits apply and vary by location.

• Up to 97% loan-to-value/103% combined loan-to-value. (CLTV > 95% requires secondary financing to be a Community Second.)

In addition, with the Home Possible mortgage program: • Two months PITIA (Principal, Interest, Taxes, Insurance, Assessments) reserves may be required.

• Mortgage insurance is required, but at a lower percentage than most conventional loans.

• Available in select markets only.3

Contact a Bank of America lending specialist, or visit bankofamerica.com/neighborhoodlending today.

You are invited to apply. Your receipt of this material does not mean you have been pre-qualified or pre-approved for any product or service. This is not a commitment to lend. $200 bonus is valid for eligible loans (Freddie Mac® Home Possible®, Affordable Loan Solution®, VA or FHA) on completed first-lien purchase mortgage or refinance applications received between April 16, 2018 and November 30, 2018 that fund with Bank of America. Bank of America offers FHA and VA refinance loans to existing Bank of America home loan customers only. Bank of America may modify or terminate this offer at any time without notice. Bonus is non-transferrable, is limited to one bonus per loan, and does not apply to home equity lines of credit, business or second mortgages. Bonus can be combined with other mortgage benefits. A check will be issued to the primary borrower on the loan within 60 days after the mortgage funds. The value of this bonus you receive may constitute taxable income. In addition, Bank of America may issue an Internal Revenue Service Form 1099 (or other appropriate form) to you that reflects the value of such bonus. Please consult your tax advisor, as neither Bank of America, its affiliates, nor their employees provide tax advice.

2 Available for fixed-rate purchase loans with terms of 25 or 30 years and on primary residences only. Certain property types are ineligible. Borrower(s) must not have an individual or joint ownership interest in any other residential property at time of closing. Maximum purchase loan-to-value is 97% and maximum combined purchase loan-to-value is 103%. For loan-to-values > 95%, any secondary financing must be from an approved Community Second Program; ask for details. Homebuyer education may be required. Restrictions apply regarding co-borrowers. Maximum income and loan amount limits may apply.

3 Home Possible mortgage is available in 37 select markets, including Albuquerque, NM; Anaheim, CA; Baltimore, MD; Boston, MA; Charleston, SC; Charlotte, NC/SC; Chicago, IL; Dallas, TX; Denver, CO; Detroit, MI; Durham, NC; Elgin, IL; Fort Lauderdale, FL; Jacksonville, FL; Las Vegas, NV; Los Angeles, CA; Miami, FL; Minneapolis, MN; Nassau, NY; New York City, NY/NJ; Newark, NJ; Oakland, CA; Orlando, FL; Oxnard, CA; Philadelphia, PA; Phoenix, AZ; Richmond, VA; San Antonio, TX; San Francisco, CA; San Jose, CA; Seattle, WA; St. Louis, MO/IL; Tampa, FL; Virginia Beach, VA; Waco, TX; Washington DC/VA/MD; West Palm Beach, FL. Freddie Mac, Home Possible and CreditSmart are registered trademarks of Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Affordable Loan Solution, Connect to Own, Life/Better Connected, Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation Bank of America, N.A., Member FDIC. Equal Housing Lender. ©2018 Bank of America Corporation AD-06-18-0273 | ARFKJPBQ | 09-2018 THIS INFORMATION IS NOT INTENDED OR AUTHORIZED FOR CONSUMER DISTRIBUTION. 1

7005 Chase Oaks Blvd #200, Plano, Texas 75025 (O) 469.916.8811 | (F) 469.916.8889 erairealty.com | info@erairealty.com

Daniel C. Eng

Trang Dang-Le

Stephanie Eng

Vasilios Vetter

CCIM, CPM, GRI, Broker ✆ 214.926.3666 ✉ daniel@erairealty.com

Partner | Assoc. Broker,GRI,CIPS Partner | Assoc. Broker,ABR,ALHS Realtor | Assoc. Broker,NHSAC ✆ 214.563.2438 ✆ 469.569.3631 ✆ 469.235.7236 ✉ trang@erairealty.com ✉ KelleyLiu@erairealty.com ✉ judithckim@gmail.com

Kelley Liu

Judith Kim Cheng

Controller | CPA ✆ 469.916.8811 x 701 ✉ stephanie@engvest.com

Staff Accountant Administrative Assistant ✆ 469.916.8811 x 250 ✆ 469.916.8811 x 200 ✉ accounting@erairealty.com ✉ admin@erairealty.com

Shiyun Sun

Adi Kattari

Amanda Chin

Andrew Gillett

Angela Bao

Anselm Ng

James Ju

Celia Cheng

REALTOR® ✆ 972.861.2025 ✉ adikrealty@gmail.com

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Gabriel Ho

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FOR PHOTOS & INFO

TEXT To

iRealty 35620

Samantha Chatman-Saul

Each ERA office is independently owned and operated.

REALTOR® ✆ 682.465.0747 ✉ chatmansaul.sam@gmail.com

SUMMER 2018 Vo l u m e 1 0 , I s s u e 1 I I ON THE COVER: Graphics by Jazz Miranda

F E AT U R E S 12

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Letter from the Director AREAA Executive Director Hope Atuel previews the issue and discusses the 50th anniversary of the Fair Housing Act of 1968.

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Kiss, Bow, or Shake Hands ÂŽ: Courtrooms to Corporate Counsels Best-selling author Terri Morrison explains how having accurate intercultural information can help you make more deals.

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The Commercial Brief Raising the Level of Commercial Real Estate Professionals at AREAA – Ann Trandai examines the growing demand for real estate professionals with advanced designations such as the Certified Commercial Investment Member (CCIM).

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Let’s create more homeownership opportunities We are committed to helping your clients find the home financing that fits their needs by: Supporting more buyers With home financing options that open doors for all types of buyers.

Meeting expectations With start-to-finish support, we’ll take care of your buyers, so they can make well-informed decisions.

Staying on track With ongoing communications, we’ll keep everything moving along smoothly toward closing.

Let’s work together

To connect with your local team, contact: diversesegments@wellsfargo.com Visit us Stop by a Wells Fargo Home Mortgage branch, or a Wells Fargo bank branch wellsfargo.com/mortgage Research home financing options and contact us online This information is for real estate and building professionals only and is not intended for distribution to consumers.

Information is accurate as of date of printing and is subject to change without notice.

Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2018 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801. 4632779 REV 02/2019

WE’LL GIVE YOUR CLIENTS’ PLANS ROOM TO GROW.

UP TO .25% RATE DISCOUNT FOR CHASE PRIVATE CLIENTS • FINANCING UP TO 85% OF HOME VALUE • LOANS UP TO $3 MILLION We finance big dreams, but we also pay attention to the finest details along the way. From priority processing to relationship pricing, our home lending experts offer personalized help every step of the way.

Contact me today about working together to help your clients:

Edgar David Region Manager Phone: 714-671-9985 edgar.s.david@chase.com Mortgage rate discount of 0.125% for total deposits and investments of $500,000 – $999,999.99 or 0.25% for $1,000,000.00. For purchase and refinance transactions, these discounts apply to the full spectrum of residential mortgage types, including fixed- and adjustable-rate products for jumbo and conforming mortgages. For fixed-rate mortgages the Mortgage Rate Program discount is for the life of the loan, and until the first adjustment on adjustable-rate mortgages.

For real estate and lending professionals only and not for distribution to consumers. This document is not an advertisement for consumer credit as defined in 12 CFR 1026.2(a)(2). Loans up to 85% of a primary home’s value are available on a purchase or refinance with no cash back. Subject to property type, a minimum credit score of 680 and a minimum of 18-24 months of reserves, depending on loan size. (i.e. customer must have at least enough money in reserve in a bank account to make 18-24 monthly mortgage payments [principal, interest, taxes and insurance] after the loan closes). All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply. Home lending and deposit products offered by JPMorgan Chase Bank, N.A. Member FDIC ©2017 JPMorgan Chase & Co. 36472-0517

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32

CONTENTS 18

AREats!

Thai Larb – A Thai staple, larb is healthy, delicious, and super easy to make.

27

The Reading Nook with Patricia Victa The Untold History of Ramen – Think you know ramen? Think again. Patricia Victa reviews George S. Solt’s 2014 book that takes a deep dive into how a political crisis in Japan led to the emergence of ramen as the world’s go to noodle soup.

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By Mary Vigal

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Bohemian Vagabond: A Day in Delta de Tigre, Argentina

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The 2017-2018 AREAA A-List Over $2 billion sold in real estate and $2 billion in mortgage originations – meet AREAA’s Best of the Best for 2017-2018.

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AREAA Global’s Journey to the International Stage AREAA’s Jim Park reflects on the origins of AREAA Global, and how it’s become a profitable investment vehicle for its members while benefitting AREAA.

By Jim Park

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Celebrating 15 years of AREAA Take a quick look back at what AREAA has accomplished over the last 15 years. From the creation of increased valuable entities to increase member business and leadership opportunities, policy victories, and the secret ingredient that makes it all possible (hint: it’s you!)

Our resident globetrotter Jacki Ueng explores the famed Delta de Tigre in Argentina, in search of adventure, food, and human connection.

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Not every culture treats the elderly with the reverence and support they deserve.

A new trend in retirement developments caters to an aging foreign born population, bringing a taste of their native culture to them here in America.

By Vanessa Shields

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Aging in America: Choices in Real Estate

Spotlight On: Wealth Creation in Las Vegas Brian McMahon, SEVP and CFO of Radian Group, shows that when you understand the numbers, you can find valuable investment opportunity in any market.

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The House Always Wins: Vegas is Back As one of the hardest hit markets after the global financial crisis, Las Vegas was on the brink of collapse for some time. Today, its real estate and economy are once again thriving, proving once again that the House always wins.

By Sherwin Escanuela

ADVERTISERS

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Immigrant Success Story: Tom Truong Originally ran in our 2018 Summer Issue, Marissa Truong, wife of incoming AREAA President Tom Truong, takes a look at what makes her husband tick, and why he’s the perfect person to lead AREAA right now.

By Marissa Truong

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Ask Mehta Is it really worth joining professional organizations such as AREAA? Absolutely, but you only get out as much as you put in. Real estate and tech guru Rob Mehta explains how to make the most of your professional associations and why they are more important now than ever before.

Around the Association/Making Headlines Find out what AREAA chapters from around the country have been up to lately – from headline making business moves, jawdropping events, to giving back to their communities, our chapters have been very busy.

Amy Kong, Realty World

amykong.com

4

AREAA Global

areaaglobal.com

Bank of America

bankofamerica.com/neighborhoodlending

BERKSHIRE HATHAWAY/RealLiving

berkshirehathawayhs.com

58

Better Homes and Gardens

bhgrecareer.com

39

CARRINGTON

carringtonhomeloans.com

15

CENTURY 21

century21.com

63

CHASE

714.671.9985

5

Citi

877.287.1433

58

Coldwell Banker

coldwellbanker.com/join

65

ENGEL & VOLKERS

evfranchise.com

19

ERA

ERA.com

29

ERA iRealty

ERAiRealty.com

Fannie Mae

HomeReadyMortgage.com

58

Gina Duncan, Fine Island Properties

FineIslandProperties.com

66

GLVAR

LasVegasRealtor.com

54

HSBC

us.hsbc.com/home

13

Jenny Cui, HomeLuxe USA

www.homeluxe-usa.com

10

Kenny Truong, #FASTAGENT

climbsf.com

National Association of Realtors

nar.realtor/cips

Northwestern Mutual

nm.com

15

PrimeLending

PrimeLending.com

47

QuickenLoans

RealEstate.QuickenLoans.com

21

RADIAN

radian.biz

36

RCN Capital

RCNCapital.com

11

RE/MAX

remax.com

47

REALOGY

realogy.com

50

RISMedia

ace.rismedia.com

51

Ronda W. Ching Day, Coldwell Banker

HawaiiProperties.co

66

Sterling Bank

sterlingbank.com

39

SunTrust

suntrust.com/mortgage

54

U.S Bank

888.291.2334

59

UnionBank

unionbank.com

26

Wells Fargo Home Mortgage

wellsfargo.com/mortgage

Zillow

premieragent.zillow.com

Inside Back Cover

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9 Back Cover

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S U M M E R

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Volume 10, Issue 1II

EDITOR Scott Berman

DESIGNER Jazz Miranda

is a publication of the Asian Real Estate Association of America (AREAA), a national nonprofit trade organization dedicated to increasing sustainable homeownership in the Asian American community. For more information visit: http://areaa.org. Š2018 by the Asian Real Estate Association of America.

Reproduction in whole or part without permission is prohibited. Opinions expressed by individual authors are not necessarily the opinions held by AREAA. Interested in advertising or contributing? Contact us: Scott Berman | sberman@areaa.org Office: Asian Real Estate Association of America 3990 Old Town Avenue #C304 San Diego, California 92110 619.795.7873 Phone contact@areaa.org Previous issues available online at: http://areaa.org/a-r-e For additional web-based content, please visit: www.areaa.org.

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KENNY TRUONG | #FASTAGENT

Jenny Cui 崔倩琳 President of Home Luxe USA

鸿豪地产总裁

2018 AREAA International Chair AREAA Austin Founding President

美国亚裔房地产协会国际委员会主席 奥斯汀分会创会主席

China Director of Great Texas Regional Center CIPS 美国国际房地产专家认证

中美德州基金中国区总监

CLHMS 豪宅营销专家认证

德克萨斯州首府Austin 学区房 豪宅 商业地产

Your Professional Global Real Estate Investment Consultant and Partner

➢Residential

& Commercial Real Estate Service in Austin, Texas

➢

资深房地产投资，开发，EB移民项目咨询专家

➢

Global Vision Experience and Connections

美国电话 512-788-2967 微信 jenny13041281113 电子邮箱 jennycuihomes@ gmail.com 公司网站 www.homeluxe-usa.com

FROM THE

Director

In the last seven years, AREAA has managed to evolve as a formidable voice for AAPI real estate issues. Case in point, we managed to affect a change with the U.S. Census Bureau on separating AAPIs as our own category on their Quarterly Report on Homeownership.

In 2003, I was first introduced to Allen Okamoto

back to my roots of serving the community that is

and John Wong as the founders of then a newly

closest and dearest to my heart – Asian Americans

started organization called the Asian Real Estate

and our quest for the ultimate American Dream

Association of America. Around that time, I

of homeownership. I’ve now been the Executive

already had my encounter with Jim Park, then

Director of AREAA for nearly seven years and there

with Freddie Mac, who by his involvement and

is not one single day that goes by that I don’t feel as

belief in the mission, propelled AREAA into what

passionate as I did the first day I walked into this

it is now - a world-class membership organization

position.

that has stayed true to its mission of promoting

In the last seven years, AREAA has managed to

homeownership within the Asian American and

evolve as a formidable voice for AAPI real estate

Pacific Islander community. Fifteen years ago,

issues. Case in point, we managed to affect a change

my involvement with AREAA was primarily to

with the U.S. Census Bureau on separating AAPIs

grow the industry I was with (appraisers) on the

as our own category on their Quarterly Report

multicultural front. Communications and meetings

on Homeownership. Immediately following that

with John, Allen and Jim were fairly limited to

year, we were able to get Fannie Mae to change

sponsorship discussions and possible partnerships.

underwriting guidelines on the “1% rule” on student

I remember being distinctly impressed with how

loans when it comes to analyzing credit for mortgage

a group of Asian Americans were able to band

borrowers. Last year, with the help of organizations

together to create a voice in the real estate industry.

like National CAPCD and alike, Congresswoman

“How noble, how grand the task was,” I thought,

Judy Chu, Congresswoman Grace Meng and

“that these men are passionate in making changes

Senator Tammy Duckworth, FHFA issued a ruling

to the industry to benefit our community.”

on the revised URLA (Uniform Residential Loan

Almost a decade later, my path intersected again

Application or Form 1003) that will now feature a

with the triumvirate – this time, to join them in their

check-box on preferred language beyond English.

mission of growing AREAA, thereby moving the

As we speak, AREAA sits on the table with FHFA and

needle of homeownership in the AAPI community

other agencies to work on the glossary of terms that

closer to the national average.

will be translated into the four top Asian languages In 2012, I found

– Chinese, Tagalog, Korean and Vietnamese. These

myself moving back to

translations will help our community understand

my roots – figuratively

the mortgage forms required to complete the home

and literally. When

buying process. But the work does not stop here.

I joined AREAA that

There’s always more to do – more policies and more

year, it was a literal

legislation to impact.

homecoming to San

And just like my encounter with John, Allen and

Diego after 20 years

Jim fifteen years ago, AREAA continues to fulfill the

of living in Chicago.

noble and grand task of being the voice of Asian

But more poignantly, I

Americans in real estate.

found myself moving

From left to right: John Wong, Allen Okamoto, Jim Park

HOPE ATUEL

AREA A Executiv e Director 12

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Mortgages for every place called home.

HSBC offers a variety of mortgage options that measure up to your clients’ needs.

Our jumbo mortgage options offer the following benefits: • • • • • •

Pricing incentives and discounts1 on a variety of fixed and adjustable rate mortgages (ARM)2 Up to $3 million in financing Mortgage solutions for international buyers Title vesting for U.S. corporations and U.S. limited liability companies3 Extended rate lock option available up to 360 days4 Favorable rates on cash-out refinancing

HSBC also offers conforming mortgage options that provide the stability of a fixed-rate mortgage or the flexibility of an adjustable rate mortgage.

To learn more, visit us.hsbc.com/home or contact: West Coast Rhonda Munoz Mortgage Sales Manager NMLS#: 410103 408.904.8611 rhonda.munoz@us.hsbc.com

East Coast Brian Franke Mortgage Sales Manager, VP NMLS#: 431912 347.931.5005 brian.x.franke@us.hsbc.com

Together we thrive 1 Interest rate may increase per the terms stated in your adjustable rate note. 2 Interest rate may increase per the terms stated in your adjustable rate note.

3 The LLC or Corporation must be formed as a single purpose entity solely for the purpose of owning the subject property. Additional restrictions apply.

4 Available for Premier Deluxe and Advance Deluxe mortgages only. The minimum extended rate lock period is 90 days; extended rate lock is available in 30-day segments, up to 360 days (e.g. 90, 120, 150 days). Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

Equal Housing Lender • ©2018 HSBC Bank USA, N.A.

KISS, BOW, OR SHAKE HANDS®:

COURTROOMS TO CORPORATE COUNSELS

by Terry Morrison

Communicating successfully with our own families and friends can be a challenge. But communicating across cultures with diverse languages, belief systems, and business practices can be extraordinarily complex.

For example, do you believe you can tell if an important client is lying to you? Perhaps you invite them to a gala event, or you swing tickets for a PGA playoff you think they would enjoy. They smile and say “That sounds wonderful, thank you so much, we’ll try to make it!” When you follow up again, you receive what you think is another gracious – if nebulous - acceptance.

Business proceeds as usual, but on the day of the event, you receive a quick apology - or even worse - you end up sitting alone at a table you reserved for your giant client. Embarrassed, you leave early, and resolve never to invite them out again. But what really went wrong here?

The relationships you build with valuable Indian, Japanese, or Cambodian clients are so important to them, they would be very reluctant to turn you down flat. Saying “No, sorry, we can’t make it” may be perfectly acceptable in San Diego – but would sound dismissive along much of the Silk Road.

We all know that words matter, but quite often even the most brilliant content gets lost in translation. Imagine the following scenarios:

Your Asian client inadvertently blurts out a grotesque insult in front of a diverse group of investors Hispanic buyers start laughing at your body language.

A Russian negotiator seems to be lying right to your face.

A Japanese executive prefers jail time rather than tell the truth.

A new French client questions your reasoning, rejects your advice, and debates your decisions.

A prospective client will not shake your hand.

Sometimes, negotiations can break down over something as innocuous as whether you should interrupt someone, or sit silently and listen, or wait until you’ve had a meal together to discuss business at all. The good thing is, if you have accurate intercultural data, you are prepared to succeed with these diverse clients – both domestically and internationally.

So, they may give you subtle hints like “Hm…that is a very busy week; let’s see if we can work that out.” Or “We will really try to make it!” Or they may evade your question completely. Get smart. Those are all polite ways to say “No.” These diplomatic refusals can also be accompanied by body language “tells” that are crystal clear in one country, but can be missed entirely in another.

Analyzing how different cultures communicate and negotiate are just two of the topics covered in the new book Kiss, Bow, or Shake Hands®: Courtrooms to Corporate Counsels. There are twelve chapters on topics ranging from verbal and non-verbal communications to how diversity on a jury may impact a case, or how crimes may be perceived differently across the world… along with over 50 Country Briefs and Tips.

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2018 AREAA Luxury Designation Class

The field of real estate is increasingly competitive. Kiss, Bow, or Shake Hands®: Courtrooms to Corporate Counsels is here to help – written by Terri Morrison, whose books have sold over 450,000 copies, and INC Magazine placed on its “7 Best Books on Negotiation” list.

IF YOU LIVE FOR IT, WE’LL HELP YOU PLAN FOR IT. We’re here to help you do the things that matter most, with the people who matter most—now and years from now. Because when you’re in control of your money and start realizing your financial goals, planning looks less like planning and more like living.

Get started with an advisor at nm.com.

SPEND YOUR LIFE LIVING Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI and its subsidiaries.

Help more clients buy homes with our wide variety of loan programs

Government loans for first-time buyers, buyers with less-than-perfect credit or low cash on hand Low down payment programs 100% financing programs Carrington Flexible AdvantageSM loan programs for those with credit scores to 500 and amounts to $2 million Conventional loans with 5% down to get started Same-day prequalification at our local and national centers for your clients

Contact us today and start prequalifying more clients with our wide variety of loans!

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CarringtonHomeLoans.com/ AREAA

The Commercial Brief

RAISING THE LEVEL OF COMMERCIAL REAL ESTATE PROFESSIONALS AT AREAA

By Ann Trandai, CCIM, CIPS/President of Trandai Realty in Chicago

T

imes have changed since I first became a member of AREAA in 2011, when we only had a handful of commercial brokers coming to the National Convention. Over the years, I have seen more and more sessions dedicated for commercial real estate practitioners. In 2012, with the leadership of Kathy Tsao, we established the first Commercial Committee with the chairperson – Kevin Chin, CCIM of SVN of San Francisco and two vice chairpersons: Ann Trandai, CCIM (me) from Chicago and Paul Wong from New York. From those first few years to 2013, I have gotten to know several AREAA colleagues with CCIM designations such as Allen Chiang, Kenneth Li, Daniel Eng, Calvin Wong, and Peter Park and CCIM candidates: Vicky Silvano, Tuyen Nguyen, and other commercial brokers such as James Huang, Jim Park of LA. What is CCIM? – Certified Commercial Investment Member – It provides commercial education to those who are interested in learning about Commercial real estate. It has over 13,000 members in 58 chapters globally with members from 30 countries and has provided classes in USA, Canada, Mexico China, Taiwan, Japan, South Korea, Poland, and Mexico. It requires to take 4 core classes, 2 electives (Ethics and Negotiation),

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submit the portfolio of production and take the final exam at either the midyear meeting or the annual conference. CCIM headquarter is in Chicago.

I have earned my CCIM designation in 2007 at the CCIM Chicago chapter from chairing the Designation Committee to secretary of the Chapter. Later, I got involved in the National level and have been an unofficial liaison between CCIM and AREAA in helping to promote more AREAA members to get CCIM education. Every year, I have come to the CCIM Annual conference to help with volunteers at some committees such as International Activities Committee and Networking committees and promote the CCIM education at the CCIM booth at RECON – ICSC convention in Las Vegas in May. Last year, I was the first AREAA member who graduated from CCIM JWL Leadership Academy. My final project of the class focused on the raising the awareness of more cultural diversity and helping minorities to get CCIM education.

For the last 3 years, I have written over 10 recommendation letter for CCIM CDEP – Cultural Diversity Education Program scholarship for minorities so that they can get a discount tuition price of 4 core courses. In 2018, I have written four recommendation letters for 4 minority women (Mindy Luong, Teressa

Canton, Jennie Ching, and Sondra Jones to get the CCIM CDPC (Cultural Diversity Program Scholarship)scholarship), They just passed the CI101 Class with our best CCIM Instructor of the year – Camella Ma, CCIM, CIPS. I have been honor to be friend and served on the same International committee with her at the CCIM National level. She has inspired me with her leadership, professionalism and mentorship.

Over the years, the AREAA Commercial Committee has grown under the leadership of : 2012-13 chairman Kevin Chin, CCIM. 2014-15 chairman - James Huang , 2015 chairman John Lim, 2017 chairman -Eugene Wang, CCIM and, 2018 chairman - Kurt Nishimura. The AREAA Commercial Committee has increased more commercial sessions and network event at national session instead of one

session; we have a whole day with 2 education sessions and one networking event.

The AREAA commercial committee has created the Commercial directory; social media network on Facebook for AREAA commercial and continue to provide more benefits to AREAA Commercial members. This year, I have helped to implement the deal maker event at global summit in Seattle and at annual conference in Las Vegas that we can share listings and buyer’s requests at the networking event and weChat group to network within AREAA commercial and CCIM Asia Network. We need your energy and help to grow our Commercial Committee stronger.

Currently, there are at least 20 AREAA members who are CCIM designees and at least 15 candidates. If you are thinking of serving your clients on Commercial

real estate, I strongly encourage you to take CCIM classes (www.ccim.com) because CCIM designees are able to help their clients: to minimize risk, enhance creditability, make informed decisions and close more deals, and network with a trust circle of professional commercial practitioners. I have formed several weChat groups to connect with CCIM colleagues from Asia, USA and Canada so that we can exchange information, refer business and understand other countries real estate practices and network at several conventions in US and Asia every year. If you are interested in the CCIM education, I will be glad to help you with a recommendation letter, please email me at trandairealty@gmail. com or call +1-847-219-9707.

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17

a/r/eats!

With Vanessa Shields

Shutterstock/ successo images

THAI LARB Larb should be more common than it currently is.

Pronounced “lap,” and also spelled larp, laap, lahb, or laab, It has all of the things people want right now; It is light, healthy and full of flavor.

A combination of ground chicken, some of the freshest and most common Thai herbs and spices, and lemon juice and fish sauce as dressing, larp is something you should have for lunch at least every other week. Also, the way it is eaten is fantastic. Using lettuce as a shell, it reminds me of a taco. Larp is a Thai dish, and also eaten in Laos, it’s so popular there it’s even known as the national dish.

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INGREDIENTS

(for 2 servings): 1 lb ground chicken

1 lemongrass stalk, root removed and finely chopped 3 kaffir lime leaves, finely chopped 4 fresh red chilies, seeded and chopped 4 tbsp lime juice 2 tbsp fish sauce 1 tbsp roasted ground rice* 2 scallions, chopped 2 tbsp cilantro, chopped thinly sliced kaffir lime leaves and mint leaves to garnish

DIRECTIONS: 1. Heat a large non-stick frying pan. Add the minced chicken and moisten with a tablespoon of water. Stir constantly over medium heat around 10 minutes until cooked through.

2. Transfer the cooked chicken to a bowl and add the lemongrass, lime leaves, chilies, lime juice, fish sauce, ground rice, scallions and cilantro. Mix thoroughly.

3. Spoon the chicken mixture into a salad bowl. Sprinkle sliced kaffir lime leaves over the top and garnish with salad leaves and sprigs of mint.

*To make roasted ground rice, use sticky (glutinous) rice. Put a quarter cup of rice in a frying pan and dry roast it until golden brown, about 8 minutes. Remove and grind to a powder, using a mortar and pestle. When the rice is cold, store it in a glass jar in a cool and dry place.

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g din a e e R ook h T N

THE UNTOLD HISTORY OF

RAMEN :HOW POLITICAL CRISIS IN JAPAN SPAWNED A GLOBAL FOOD CRAZE

by Patricia Victa Behind a salty, steaming bowl of ramen is a turbulent history driven by the geopolitical forces that shaped our world. If you’ve ever wondered about that history, say no more— ramen researcher and professor George Solt’s The Untold History of Ramen: How Political Crisis in Japan Spawned a Global Food Craze has you covered.

In five chapters replete with wellresearched anecdotes, Solt takes us on an academic tour through ramen’s humble origins and how:

“[o]ver the last course of the century, what started as an exotic food from China famed for its affordability, quickness, and nourishing qualities developed into a staple of Japanese working-class cuisine, and eventually a slow food symbolizing the value of hand-crafted, old-fashioned, and small-scale production representing national tradition.”

Readers will get smarter about ramen’s beginnings right from the introduction. In it, we learn that Chinese chefs brought the noodle soup through port cities such as Yokohama in the 1800s, where it became a dish associated with soldiers and the working class. Ramen virtually disappeared when the war came—at a time of widespread

hunger, no less—until U.S. occupation of Japan gave rise to the import of wheat and stimulated the production of wheat noodles.

As the country and the rest of the world rapidly shifted into industrialization post-war, so did food production and changing labor patterns. In light of that change, Solt uses a variety of sources to chart how ramen found its way to the West, into Styrofoam cups, and into the international food scene.

The second half of the book goes into how ramen further entwined itself with Japan’s national identity. Solt covers Japan’s economic boom within 20 years post-war until the “McDonaldization” of the world, and the “changing symbolic associations of new foods.” As American fast-food culture took flight in the 1990s and transformed global consumer patterns as we know it, the Japanese elevated ramen as a national symbol to counter the dominance of Western cuisine (and with it, Western ideals).

“In the present, where connections to history have been severed, ramen is a tool to rearticulate the charm of Japan’s traditions.”

–Hayamizu Kenro trade have transformed the meaning of a simple noodle dish. The Untold History of Ramen delivers on its promise of exploring ramen’s evolution through larger global trends in history. It may not be for everyone, but it is sure to satisfy the curiosities of noodle enthusiasts, history buffs, or any student of Japanese culture.

4/5 Stars Author George S. Solt, 2014 University of California Press paperback, 240 pp

Readers looking for a more entertaining take on ramen may be disappointed. While the book’s writing style is accessible, it is geared towards more academically-minded readers who wish to know more about how state policies, labor conditions, and international

Patricia Victa serves as the Project Assistant for the AREAA Education Foundation, the 501(c)(3) non-profit arm of AREAA. She is a recent Southern California transplant from the Philippines. In her spare time, she enjoys consuming copious amounts of caffeine, watching films with her husband, and exploring San Diego (while petting as many dogs as possible).

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Your client’s participation in the Verified Approval program is based on an underwriter’s comprehensive analysis of their credit, income, employment status, debt, property, insurance, appraisal and a satisfactory title report/search. If new information materially changes the underwriting decision resulting in a denial of the credit request, if the loan fails to close for a reason outside of Quicken Loans’ control, or if the client no longer wants to proceed with the loan, their participation in the program will be discontinued. If the client’s eligibility in the program does not change and their mortgage loan does not close, they will receive $1,000. This offer does not apply to new purchase loans submitted to Quicken Loans through a mortgage broker. Additional conditions or exclusions may apply. Verified Approval within 24 hours of receipt of all requested documentation. §

Quicken Loans Inc.; NMLS #3030; www.NMLSConsumerAccess.org. Equal Housing Lender. Licensed in 50 states. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by Dept. of Business Oversight, under the CA Residential Mortgage Lending Act and Finance Lenders Law; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Quicken Loans Inc., 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Licensed Mortgage Banker – NYS Banking Dept.; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply. ©2000 – 2018 Quicken Loans Inc. All rights reserved. Lending services provided by Quicken Loans Inc., a subsidiary of Rock Holdings Inc. “Quicken Loans” is a registered service mark of Intuit Inc., used under license.

Shutterstock.com/ Diego Grandi

by Jacki Ueng

JACKI UENG is the VP in Business Development for Ticor Title in Los Angeles. When she’s not issuing Title Policies, she is traveling the globe in search of her next exotic food dish and cultural encounter. As the Bohemian Vagabond, she's a travel blogger who inspires others to travel and experience the customs, cultures and foods of destinations across the world. Follow Jacki's travels at: JackiUeng.com 22

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Argentina is a country with so much to explore from mountain to beaches to countryside. Buenos Aires boasts some of the best nightlife in the world and not a single person I’ve met who has been has not enjoyed all it has to offer. We took a day trip 17 kilometers (45 minute drive) outside of Buenos Aires for some nature to the Delta de Tigre and enjoyed a beautiful day of serenity in nature.

The Tigre tour is hosted by a lovely couple named Ana and Ralph, known in the small community as “The Swiss Couple”.

They live in a rustic house along the river, only accessible by a 15 minute private water taxi from the city station or by public boat 45 minutes away.

T R A V E L I N G with T H E BOHEMIAN VAGABOND

Homemade Breakfast Served Just the short distance on the taxi boat from the station to their home takes your breath away and you begin to imagine a life disconnected from the general civilization.

Upon arrival, the friendly couple welcomes you to their home with a tour and history of the Delta.

Breakfast is then served with their own homemade bread, true-to-local recipe jams, coffee or tea. Once our bellies were filled, 7 of us visitors set sail with Ana and Ralph in their unique hand-built wooden boat towards the serene river “Paraná de las Palmas”.

Ralph, who’s originally from Switzerland has had decades of experience as a Chef on various Cargo ships. Ana grew up in the Patagonia region of Argentina. They have an adorable son named Octavio who is 3 years old with a bundle of energy, that is absolutely adorable.

Photograph by Jacki Ueng

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23

Cruising Down the Tigre Delicious Lunch on the Boat

If you are a vegetarian, they will prepare special sides for you enough to eat, just let them know ahead of time when you book the trip via email. Ana & Ralph are incredibly hospitable hosts and very knowledgeable in the history of the area, environment, and it’s natural inhabitants.

After an enjoyable boat ride through the sub tropical landscape on the narrow streams and wide rivers of the Delta’s second section, we anchored by a willow tree for lunch. We cleared the back of the boat to set up their mini kitchen and stove as Ralph, our on board Chef, cooked a whole feast. In the mean time, we tasted a variety of appetizers prepared earlier by Ralph.

Argentinians Love their Wine & Beer The verbal consensus seems to show that Stella Artois beer is the most common preference for Argentines. The wine preference though, almost always stays local within the country. I would have a few glasses of wine every night and not feel a headache, which we believe is because the local wines do not contain sulfites (a food preservative / enhancer). Ana & Ralph are always experimenting with small wineries and certainly have a nose and taste for it.

Honestly I did not have high expectations for a lunch served on our mid-size wooden boat and would have been delighted with anything. To all of our surprise, Ralph began grilling meat: fresh Argentine beef, juicy locally grown chicken breasts and pork. Ana brought out a spread of appetizers including empanadas, salad, fruits and copious amounts of wine and beer.

Photograph by Jacki Ueng

Unplugging into the Delta Traditional Mate Tasting We arrived back to their home around 4pm and were once again served with homemade snacks, ice creams, cookies and jams. It is certainly an acquired taste not preferred by all, but certainly worth a try when you are in Argentina.

Ana shared with us the history of Mate, a traditional Argentine pastime favorite. People in the big city as well as the country enjoy mate. There are a certain technique on how to sip the mate properly which Ana will share.

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We each passed around the Mate and enjoyed some sips which brought me to a special kind of tea-high I have not experienced before.

It was truly an unique experience, visiting Ana & Ralph at their beautiful rustic home on the delta river, and learning about the history of the area, and the progress they have taken to where they are today: as a community, as a family, as a respected business.

TRAVELING The red wine we had on board is from near by in the Delta, the small city of Diamante which is 7700 sq. miles long, province of Entre Rios, which is a bit more south than Santa Fe and north of Rosario.

In Argentina, the 2 main grapes are Torrontes and Malbec. Torrontes is a white Argentinean grape that grows in the north west of the country (Salta region as the grape thrives in cold dry, windswept conditions), which produces fresh, aromatic wines with moderate acidity, smooth texture and a mouthfeel. It has a soothing distinctive peach and apricot aroma on the nose.

Malbec is a thin-skinned purple grape grown in warmer climates throughout Argentina but a good amount in Mendoza region (west Argentina).

All foods, breads, deserts are prepared by Ralph, while Ana will give you an insight into the Tigre Delta and the lifestyle of its inhabitants, and answer any questions you may have. The afternoon sail back becomes a blur as you are gluttonously drowned in so

with

THE BOHEMIAN VAGABOND

much food and wine. Some of us took a nap on the hood of the boat as we sailed another route back to their house.

In the small community, there are public education and island rural schools. We learn about the unique, non-conventional, artistic school system they have in their community where their 3 year old son attends. Considered a public school, which is a civil association between parents and teachers. The parents support the school by working there. They produce breads, cookies, cakes, origami, various handicrafts to sell to tourists and to each other to raise funds for the school: salary for the teacher, painting, repairs, new bathrooms or anything they need. What impressed me the most was their focus on mindfulness. An example being the school’s “Tea Time”, half an hour after the mid-morning break where all students and teachers sit in silence as they drink their tea. Even the small children have mastered it!

Contact Ana and Ralph Delta Unplugged / www.delta-unplugged.com.ar Once you book the reservation, they will provide you exact directions to their home. If lost, just ask the locals to direct you to “Lo del Suizo” (which means “The Swiss’s)

Photograph by Jacki Ueng FA L L 2 0 1 8

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Homeownership— the backbone of community Union Bank® and AREAA understand this. Working in partnership, we support the opportunity for more people in more places to own their homes. And together we all grow stronger, one community at a time.

Proud to be a sponsor of the 2018 Asian Real Estate Association of America National Convention.

Talk to one of our experts today:

Lillian Wong Private Mortgage Producing Sales Manager 650-388-2799 lillian.wong@unionbank.com NMLS ID #289606

Khue Dang Private Mortgage Producing Sales Manager 206-854-5115 khue.dang@unionbank.com NMLS ID #244232

Matthew Townsend Private Mortgage Producing Sales Manager 925-588-6267 matthew.townsend@unionbank.com NMLS ID #482743

Simon Yu Private Mortgage Consultant 206-351-4018 simon.yu@unionbank.com NMLS ID #745341

Sonny Pham Private Mortgage Consultant 714-335-3966 sonny.pham@unionbank.com NMLS ID #488461

Sumir Desai Consumer Mortgage Consultant 714-473-4247 sumir.desai@unionbank.com NMLS ID #457651

unionbank.com

©2018 MUFG Union Bank, N.A. All rights reserved. Member FDIC. Union Bank is a registered trademark and brand name of MUFG Union Bank, N.A. unionbank.com

AGING IN AMERICA – CHOICES IN REAL ESTATE

by Mary Vigal

Many foreigners coming to live in the United States are from a culture that is more caring and respectful of elders than the United States. It is not something that is taken into the equation when most foreign investors choose a place to live for their family, but it is one way that real estate professionals can help foreign families investing in the US. Beginning now, as the population ages, we need to educate foreigners about the US and where their aging family members will reside if they cannot live with the core family.

In the United States, your value as a human being decreases with age.

Your experience and wisdom does not count to enhance your value. The legal system can calculate the declining

value of your life on a computer.

Most retirement and assisted living programs have English speaking only staff and provide activities based on local culture only. Skilled nursing and home care services, a huge new industry in the US, primary have low skilled, low paid and uneducated staff.

Likely there will be no one that speaks the foreign language of your elder family member.

New developments are being built as retirement or nursing homes for people from various countries, such as China, Korea, and Japan. In them the staff, food, and activities are based on the values and tastes of the cultures they predominantly serve. The problem is the staff members in many of these

developments are likely unfamiliar with US laws for estate planning, advance directives, and medical orders that need to be in place and kept up to date as a person ages.

The bottom line is we are all getting older. Real estate professionals are often the first and most reliable contact for a foreigner coming to the US to live. AAREA members can step forward and be leaders – and have more business than ever – by caring about their clients and their aging family members. A very good resource that will educate you to this reality can be found in the new bestselling book: Aging in America – a Cautionary Tale, by Karol Charles on Amazon.

Mary Vigal, is a US tax & elder law lawyer and consultant. You can reach Mary at mary@condado-group.com, www.condado-group.com

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ADVERTORIAL

CONSUMERS FEEL MORE COMFORTABLE APPLYING FOR MORTGAGE DIGITALLY THAN DATING ONLINE

By Keith Bickel, Bank of America

At Bank of America, we recognized several years ago that in an increasingly digital world, Americans have come to see homebuying and technology as inseparable. In researching attitudes for our 2018 Homebuyer Insights Report, nearly all first-time buyers stated that technology will play a role during every stage of home buying, including researching (98 percent), getting a mortgage (94 percent), and negotiating and buying (92 percent).

Homebuyers already have a great deal of comfort using digital tools during their homebuying journey. Consumers told us they would prefer using mobile and emerging technology when buying a home: for example, a real estate app or website (71 percent), a video tour of a home (48 percent) or an open house using virtual or augmented reality (36 percent). And, the mortgage process is no exception; 52 percent of consumers surveyed said they would apply or have already applied for a mortgage digitally. They have been longing for more digital solutions in the mortgage space, as more Americans would be comfortable applying for a mortgage digitally (32 percent) than dating online (20 percent).

To put it simply: Digital tools are not just accepted, but expected, during the homebuying journey. To make life easier for our customers, Bank of America has been carefully looking at their needs, and I am very pleased that this spring we launched our Digital Mortgage Experience™ -- a simple, guided solution through which customers can apply for a mortgage through the bank’s mobile banking or online banking. We designed the Digital Mortgage Experience by listening to our

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customers, understanding their needs, and delivering the full experience to them right in an award-winning mobile app.

The tool blends on-demand digital access with live lending specialists, making it one of the few solutions in the industry with this feature. Our digital solution mirrors all aspects of our high tech, high touch philosophy. For us, it’s an “and” in our world. We have digital capabilities and we have the human touch. Your prospective buyers can use the Digital Mortgage Experience to walk through their home loan choices. This guided mortgage experience includes the opportunity to discuss loan choices with a lending specialist at every step of the journey.

Clients can securely log in to the bank’s mobile banking app, enter the Digital Mortgage Experience, and immediately have many aspects of their mortgage

application auto-populated with contact information and banking/investment data from the accounts they hold with the bank. They can also request that account information from other institutions be drawn into their online application.

Be assured that the Digital Mortgage Experience is fully transactional. In many cases, clients will receive a same-day conditional loan approval, while others may need to supply additional information to complete the process.

The Digital Mortgage Experience is about making things easy, intuitive, simple and fast – for your clients and for you! Your homebuying clients should enjoy an expert’s personal touch and the do-it-at-your-ownpace ease and simplicity of technology.

y a w r u o y

s s e n i s u b r u o y w o Gr

Collaborative approach, focusing on driving productivity Actionable leads for agents with innovative Zap® platform Top ranked learning program focuses on tech resources and consumer engagement

WWW.ERA.COM © 2018 ERA Franchise Systems LLC. All rights reserved. ERA® and the ERA Logo are registered service marks owned

by ERA Franchise Systems LLC. ERA Franchise Systems LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each franchise is independently owned and operated.

I

n 2003, a group of visionary real estate professionals met in Houston, Texas, to discuss the need for a pan-Asian real estate association to help advance policies to benefit the community and empower those who chose to serve the market. Led by John Wong, Allen Okamoto, Allen Chiang, Kenneth Li, and Jim Park, among others, the Asian Real Estate Association of America was born.

At least on paper.

What followed was several years of coalescing the other existing Asian real estate groups, which typically only focused on one Asian ethnicity or one market, and growing the name recognition of AREAA through corporate partnerships and national events.

“I believe that one of the strengths of AREAA is that it crosses all Asian communities. As they say, “all ships rise with the tide,” said AREAA co-founder and 2005 National Chairman Allen Okamoto.

“When Asians unite they become a tremendous force not only economically but politically as well. These are some of the reasons that AREAA has been so well accepted across the country.”

“I believe that one of the strengths of AREAA is that it crosses all Asian communities. As they say, 'all ships rise with the tide,' " said AREAA cofounder and 2005 National Chairman Allen Okamoto.

“When Asians unite they become a tremendous force not only economically but politically as well. These are some of the reasons that AREAA has been so well accepted across the country.”

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Of these relationships, AREAA Chairman Emeritus Jim Park says, “The true power of AREAA is the connection of business partnerships and long term friendships that would have never materialized without it.”

Celebr

In 2007, the first AREAA chapters were formed in Chicago and Las Vegas.

In 2008, after just 5 short years, membership was already 8,000 strong and the ball was rolling.

During the global financial crisis of 2009, AREAA’s leadership kept the momentum going by establishing theEDGE, AREAA’s YPN, which aimed to identify and groom future generations of Asian business leaders and professionals.

By 2012, AREAA had cemented itself as a major player on the international stage, leading several trade missions abroad each year to foster new relationships with real estate associations and bureaucracies in places such as China, Japan, Korea, the Philippines, Singapore and more, and was set to host the first multi-city North America – China Real Estate Summit in partnership with the Chinese Real Estate Association. Of these relationships, AREAA Chairman Emeritus Jim Park says, “The true power of AREAA is the connection of business partnerships and long term friendships that would have never materialized without it.”

AREAA then launched two exciting new initiatives AREAA Global, a for-profit investment incubator that gives AREAA members access to exclusive, and vetted, investment opportunities all over the world, and The AREAA Education Foundation, to both raise funds for disaster-stricken areas around the world and create a more comprehensive leadership training program.

Ye

of AR These entities, as well as AREAA’s overall scope and direction, have matured and accomplished a great deal in the last several years. AREAA Global now has a pipeline of revenue-generating investments for members to take advantage of, and with the creation of the new AREAA Global Exchange website, it is now easier than ever for members to research these investments as well as promote their own. The AREAA Education Foundation has expanded to include a housing assistance grant program for

rating

“AREAA is the ‘Head, Heart and Hands’ of the Asian real estate industry,” says former National Chair and co-founder John Wong.

“Head: cutting edge ideas; Heart: community focus; Hands: action oriented, results driven.”

In 2017, AREAA’s advocacy was crucial in the addition of a Preferred Language Data Field on the rare redesign of the Uniform Residential Loan Application, which will allow for the collection of data on what languages are being spoken by loan applicants, which will help with the creation of language access services and products for Limited English Proficient speakers.

ears

REAA wounded veterans called “Welcome Home for Heroes”, and has given out over $200,000 since 2015.

AREAA has notched several major victories in its political advocacy. In 2016, led by Chairwoman Vicky Silvano, the “No Other” campaign successfully fought for the creation of a standalone AAPI category in the US Census Bureau’s quarterly homeownership report, which is widely used among academic and business circles.

AREAA once again scored a major victory in May of this year when a bill addressing alternative credit scoring, something for which AREAA has advocated for over a decade, was included in a larger bill that became law. This will give hundreds of thousands of AAPI who have thin or no credit files access to affordable credit without sacrificing the safeguards that were rightfully put in place following the housing market crash years ago.

The need for an organization like AREAA has only grown in the last 15 years.

Since 2010, AAPI are the fastest growing demographic in the United States, are the largest minority participant in the purchase money mortgage market, and have recently topped $1 Trillion in purchasing power. AAPI have the highest rates of education and income of any demographic in the US, typically high credit scores, low loan-to-value and debt-to-income ratios, yet still lag behind the national homeownership rate by 6% and behind non-Hispanic whites by 15%. Whatever the cultural or economic reasons for this may be, this highlights the importance of having an association with the credibility and ability to help affect positive change in business and politics for the AAPI community.

AREAA now has over 17,000 members on its roster in 39 chapters across the United States and Canada, making it one of the largest AAPI trade associations in North America. As the organization continues to evolve one thing has remained constant – the contagious enthusiasm of its members and the remarkable vision of its leaders. “AREAA is the ‘Head, Heart and Hands’ of the Asian real estate industry,” says former National Chair and cofounder John Wong. “Head: cutting edge ideas; Heart: community focus; Hands: action oriented, results driven.” This has been the secret to AREAA’s success over the last 15 years, and while many things may change in the next 15, it will always be based upon this combination.

“AREAA’s policy efforts have been tremendously successful in promoting legislation or policies that positively affect our community in homeownership,” AREAA Executive Director Hope Atuel says. “As AREAA continues to grow and nurture the relationships we’ve formed at both the state and federal levels of government, our voice is becoming stronger every year. It used to be when we showed up on Capitol Hill that no one knew who we were – that’s not the case anymore.”

The Asian Real Estate Association of America's annual “A” List is a reflection of the organization’s diverse and talented membership. The list recognizes top producers serving Asian American homeowners and communities.

The award program is open to all active AREAA members. Based on 2017 production, the 2018 "A" List is comprised of the top 50 applicants in each of the two categories: SALES VOLUME and TRANSACTION SIDES. This year, we are also including a separate Team category.

TOP SALES PROFESSIONALS

TOP SALES PROFESSIONALS

BY 2017 INDIVIDUAL VOLUME

BY 2017 INDIVIDUAL SIDES

TERE FOSTER

1

AV EN U E PRO PERT I ES

M I TA L A M IN

1

S I LV ER A N D OA K

T E A M FOS T ER

$318,077,836

Bellevue, Washington

PHIL

2

CHEN

PH I L C H EN SY BA RI T E

274 sides

DONNIE PIN GARO

2

I S G AS I A

R E A LT Y

$114,555,000

Burlingame, California

DOUGLAS SHANEFI ELD

3

CO L DW EL L BA N K ER

247 sides

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Honolulu, Hawaii

Davie, Florida

TRISH NASH

3

S I G N AT U R E GA L L ERY

PAC I FI C PRO PERT I ES

$107,268,522

Jersey City, New Jersey

O F H O M ES

174 sides

Henderson, Nevada

TOP SALES PROFESSIONALS

TOP SALES PROFESSIONALS

BY 2017 INDIVIDUAL VOLUME

BY 2017 INDIVIDUAL SIDES

M A RC US LEE

4

CO M PA S S

San Francisco, California

4

$104,758,300

CO L DW E L L BA N K E R PAC I FI C P RO P ERT I ES

$86,804,737

C H A R LUXU RY

Las Vegas, Nevada

G O L D EN GAT E S OT H E BY ’S I N T ER N AT I O N A L R E A LT Y

R E/M A X 888

Walnut, California

S I LV E R A N D OA K

Jersey City, New Jersey

Bellevue, Washington

RANDY HATADA X PA N D R E A LT Y

Las Vegas, Nevada 99 sides

ALEXAN D ER PHAN

8

K EL L ER W I L L I A M S R E A LT Y P RO FES S I O N A L S

Portland, Oregon

HANNA DA M

9

CO L DW E L L BA N K ER P R E M I ER R E A LT Y

Las Vegas, Nevada 86 sides

$58,578,488

T R IS H NASH S I G N AT U R E GA L L E RY O F H O M ES

Henderson, Nevada $50,733,875

AV EN U E P RO P ERT I ES

98.5 sides

M ITA L A M I N

10

Orland Park, Illinois

TERE FOSTER

7

$60,933,070

9

B RO K AG E

6

San Francisco, California

SH IRLE Y TAN G

8

CO L DW E L L BA N K ER R ES I D EN T I A L

104 sides

H E R M A N CHAN

$62,048,046

DANI ELL E MOY

155 sides

$65,584,720

7

Savannah, Georgia

5

Honolulu, Hawaii

R ANDY CHAR

6

S COT T R E A LT Y P RO FES S I O N A L S

161 sides

T R AC Y ALLEN

5

SABRI YA SCOT T

DOUGLA S SHAN EFI ELD

10

CO L DW E L L BA N K ER PAC I FI C P RO P ERT I ES

83.62 sides

Honolulu, Hawaii

c o n t i n u e d

TOP SALES PROFESSIONALS BY 2017 INDIVIDUAL VOLUME RANK

NAME

COMPANY

LOCATION

11

Kyle Sakoda

Coldwell Banker Pacific Properties

Honolulu, HI

2015 VOLUME $49,955,669

12

Yvonne Summerfield RE/MAX Kauai Living

Kalaheo, HI

$46,383,334

13

Leian Harosky

Coldwell Banker Pacific Properties

Kapolei, HI

$45,855,000

14

Dano Sayles

RE/MAX Lifestyles

Kihei, HI

$45,341,400

15

Janice Lee

Coldwell Banker

San Francisco, CA

$44,630,103

16

Alexander Phan

Keller Williams Professionals

Portland, OR

$39,065,333

17

Danielle Moy

Coldwell Banker Residential Brokerage

Orland Park, IL

$38,961,132

18

Amy Duong Kim

Compass

Chicago, IL

$35,485,500

19

Julia Hawkins

Douglas Elliman Real Estate

New York, NY

$33,299,728

20

Janie Lee

John L. Scott

Retron, WA

$33,275,015

21

Lisa Whittaker

Coldwell Banker Bain

Bellevue, WA

$33,167,708

22

Linda Lee

Keller Williams Realty

San Diego, CA

$32,765,996

23

Carol Reen

Coldwell Banker Global Luxury

San Francisco, CA

$32,710,000

24

Jessica Ye

Keller Williams Realty

Boston, MA

$30,217,483

25

Kenneth Er

Climb Real Estate

Oakland, CA

$30,191,706

26

Luann Shikasho

eXp Realty of California

Elk Grove, CA

$28,241,713

27

Susan Borochov

Coldwell Banker Pacific Properties

Honolulu, HI

$27, 798,900

28

Beth Chang

Coldwell Banker Pacific Properties

Honolulu, HI

$27,297,600

29

Iku Honda

Coldwell Banker Pacific Properties

Honolulu, HI

$26,886,500

30

M Nobu Ito

Keller Williams Realty

San Francisco, CA

$25,840,365

TOP SALES PROFESSIONALS BY 2017 INDIVIDUAL SIDES RANK

34

NAME

COMPANY

LOCATION

2015 SIDES

11

Leian Harosky

Coldwell Banker Pacific Properties

Kapolei, HI

77.5

12

Marcus Lee

Compass

San Francisco, CA

13

Kathy Xu

RE/MAX Realty Group

North Potomac, MD

75

14

Shirley Tang

RE/MAX 888

Walnut, CA

72

76

15

Luann Shikasho

eXp Realty of California Inc

Elk Grove, CA

68

16

Helen Nguyen

Point Honors & Associates

Duluth, GA

64

17

Judy Cuong

RE/MAX Gold

Elk Grove, CA

T18

Jessica Ye

Keller Williams Realty

Boston, MA

58

T18

Jill Rand

Heritage Estate Properties

Doylestown, PA

58

T18

59.28

Herman Chan

Golden Gate Sotheby's International Realty

San Francisco, CA

58

21

Tram Chu

West USA Realty

Peoria, AZ

56

22

Randy Char

Char Luxury

Las Vegas, NV

55

23

Li Huong Lanz

John L. Scott

Clackamas, OR

54

24

Yvonne Summerfield RE/MAX Living

Kalaheo, HI

53

25

Linda Lee

Keller Williams Realty

San Diego, CA

51

26

Janice Lee

Coldwell Banker

San Francisco, CA

50

27

Tony Ngo

Portland Luxe International

Clackamas, OR

48

28

Andrew Peters

Village Realty

Cumming, GA

44

T29

Ellen Gomez

RE/MAX Premier Group

Dallas, TX

44

T29

Julian Yang

Easy Street Realty

Las Vegas, NV

44

FA L L 2 0 1 8

TOP SALES PROFESSIONALS BY 2017 INDIVIDUAL VOLUME RANK

NAME

COMPANY

LOCATION

2014 VOLUME

31

Steve Hayashi

Coldwell Banker George

Arcadia, CA

$25,755,000

32

Bob Hansen

Maui Luxury Real Estate

Kihei, HI

$24,960,550

33

David Desantis

TTR Sotheby's International Realty

Washington, D.C

$24,922,850

34

Hanna Dam

Coldwell Banker Premier Realty

Las Vegas, NV

$24,891,093

35

Randy Hatada

Xpand Realty

Las Vegas, NV

$24,267,724

36

Lily Cai Do

Century 21 Marquis

Castro Valley, CA

$24,192,600

37

John Messina

Daniel Gale Sotheby's International

Cold Spring Harbor, NY

$23,955,500

38

Victoria Lim

Repoint Realty

Fullerton, CA

$23,702,450

39

Judy Cuong

RE/MAX Gold

Elk Grove, CA

$21,762,662

40

Helen Nguyen

Point Honors & Associates

Duluth, GA

$20,333,544 $19,284,516

41

Kawing Chiu

Tom Crimmins Realty

Staten Island, NY

42

Linda Heinrichs

RE/MAX Equity Group

Lake Oswego, OR

$19,210,186

43

Sabriya Scott

Scott Realty Professionals

Savannah, GA

$19,082,340

44

Li Huong Lanz

John L. Scott

Clackamas, OR

$18,374,466

45

Diane Polland

Coldwell Banker Residential Brokage

Great Neck, NY

$17,740,800

46

Tony Ngo

Portland Luxe International

Clackamas, OR

$17,685,370

47

Jamie Tian

Rodeo Realty

West Hollywood, CA

$17,620,590

48

Kyung Hae Park

REALTY7 LLC

Fort Lee, NJ

$17,600,000

49

George Wang

Harvest Realtors

Manhattan Beach, CA

$17,547,000

50

Maria Hsu

Coldwell Banker Pacific Properties

Honolulu, HI

$16,960,888

TOP SALES PROFESSIONALS BY 2017 INDIVIDUAL SIDES RANK

NAME

COMPANY

LOCATION

2014 SIDES

31

Tracy Allen

Coldwell Banker Pacific Properties

Honolulu, HI

43

32

Amy Duong Kim

Compass

Chicago, IL

42

33

Cindy Castillo

Empire Network Realty

Kissimmee, FL

41

34

Mike Olson

Go Colorado Realty

Lakewood, CO

39 38

35

Linda Heinrichs

RE/MAX Equity Group

Lake Oswego, OR

36

Li Xu

Areate Realty

Lake Mary, FL

37

T37

Paul Trakarn

Rock Creek Realty Group

Clackamas, OR

36

T37

Phil Chen

Phil Chen Sybarite Realty

Burlingame, CA

36

T39

Dano Sayles

RE/MAX Lifestyles

Kihei, HI

35

T39

Lavida Samtani

RE/MAX Realty Centre

Clacksburg, MD

35

T41

Kawing Chiu

Tom Crimmins Realty

Staten Island, NY

34

T41

Pj Santiago

Keller Williams Capital Properties

Fairfax, VA

34

T41

Peiween Zhu

Keller Williams Sunset Corridor

Beaverton, OR

34

T41

M Nobu Ito

Keller Williams Realty

San Francisco, CA

34

T45

Raquel Lavender

Keller Williams Realty Atlanta Partners

Stockbridge, GA

33

T45

Kenneth Er

Climb Real Estate

Oakland, CA

33

T45

Bill Raine

Coldwell Banker Horizon Realty

Kelowana, BC

33

48

Victoria Lim

Redpoint Realty

Fullerton, CA

31

49

Ann Nguyen

eXp Realty of California Inc

Truckee, CA

30.5

50

Lily Cai Do

Century 21 Marquis

Castro Valley, CA

30 FA L L 2 0 1 8

35

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The Asian Real Estate Association of America's annual “A” List is a reflection of the organization’s diverse and talented membership. The list recognizes top producers serving Asian American homeowners and communities.

The award program is open to all active AREAA members. Based on 2017 production, the 2018 "A" List is comprised of the top 50 applicants in each of the two categories: SALES VOLUME and TRANSACTION SIDES. This year, we are also including a separate Team category.

TOP SALES PROFESSIONALS

TOP SALES PROFESSIONALS

BY 2017 TEAM VOLUME

BY 2017 TEAM SIDES

MICHAEL REPK A

1

D EL EO N R E A LT Y

$705,438,551

2

1

Palo Alto, California

C A LV I N GONG

R E/M A X A DVA N C E

LONG DOAN R E A LT Y G RO U P I N C

1306 sides

C A LV I N

2

GONG

R E/M A X A DVA N C E

R E A LT Y

$320,000,000

3

RE A LT Y G RO U P I N C

$303,370,380

R E A LT Y

Temple City, California

LONG DOAN Minneapolis, Minnesota

Minneapolis, Minnesota

452 sides

Temple City, California

SAMANTHA

3

TOV-WEISSENSEE RE/M A X G O LD

237 sides

Elk Grove, California

c o n t i n u e d

TOP SALES PROFESSIONALS

TOP SALES PROFESSIONALS

BY 2017 TEAM VOLUME

BY 2017 TEAM SIDES

ZA R Z AN GAN EH

4

LUX E ES TAT E & L I FES T Y L ES

$136,306,780

45

Y ING H UE I CH OU THE CHOU TEAM

$131,291,890

Alhambra, Califonia

M A RK D ER BU RG

6

V D B LUXU RY/CO L DW E L L BA N K E R BA I N

$127,551,032

S OT H E BY'S I N T E R N AT I O N A L R E A LT Y C A N A DA

$94,233,000

R E/M A X T I M E R E A LT Y

$93,906,872

Rancho Cucamonga, California

H UDSON SANTANA

9

SA N TA N A P RO P ERT I ES I N C .

$92,321,686

Cambridge, Massachussetts

SAM A NT H A TOVWEISSENSEE

10

R E/M A X G O L D

$85,632,999

FA L L 2 0 1 8

Elk Grove, California

LUX E ES TAT E & L I FES T Y L ES

227 sides

Las Vegas, Nevada

MI CHAEL REPK A

5

D E L EO N R E A LT Y

215 sides

Palo Alto, California

JOEL VAL MONTE

6

R E/M A X T I M E R E A LT Y

210 sides

Rancho Cucamonga, California

YI NG HUEI CH OU

7

Toronto, Canada

J OE L VAL MONTE

8

4

Bellevue, Washington

R IC H A RD SI LVER

7

38

Las Vegas, Nevada

Z AR Z AN GAN EH

THE CHOU TEAM

205 sides

Alhambra, California

HUDSON SANTANA

8

SA N TA N A P RO P ERT I ES I N C .

144 sides

Cambridge, Massachussetts

TOM CARRO LL

9

R E/M A X PA RT N ERS

141 sides

Andover, Massachusetts

MI CHAE L H ERN

10

P RO M I N EN T P RO P ERT I ES S OT H EBY'S I N T ER N AT I O N A L R E A LT Y

140 sides

Hoboken, New Jersey

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®

©2018 Better Homes and Gardens Real Estate LLC. Better Homes and Gardens® is a registered trademark of Meredith Corporation and licensed to Better Homes and Gardens Real Estate LLC. Equal Housing Opportunity. Each Better Homes and Gardens® Real Estate Franchise is Independently Owned and Operated.

The Asian Real Estate Association of America's annual “A” List is a reflection of the organization’s diverse and talented membership. The list recognizes top producers serving Asian American homeowners and communities.

The award program is open to all active AREAA members. Based on 2016 production, the 2017 "A" List is comprised of the top 20 applicants in each of the two categories: VOLUME and UNITS FUNDED.

TOP MORTGAGE LOAN ORIGINATORS

TOP MORTGAGE LOAN ORIGINATORS

BY 2017 VOLUME

BY 2017 UNITS FUNDED

#1

#1

S T ER L I N G BA N K & T RU S T

A B S O LU T E M O RTGAG E & L EN D I N G

San Francisco, California

Dallas, Texas

$201 MILLION

407 UNITS

#2

#2

U N I O N BA N K

S T ER L I N G BA N K & T RU S T

Bellevue, Washington

San Francisco, CA

$195 MILLION

358 UNITS

#3

#3

A RCU S L EN D I N G I N C

A RCUS L EN D I N G I N C

San Jose, California

S an J ose, Cal i f o rni a

$151 MILLION

293 UNITS

Y I H O U HAN

S I M O N YU

S H A S H A N K SH EKHAR

40

FA L L 2 0 1 8

K H A I N GUYEN

YIHOU HAN

S HAS HA N K SH EKHAR

TOP MORTGAGE LOAN ORIGINATORS

BY 2017 VOLUME Rank

2017 Volume

Name

Company

Location

4

LILLIAN WONG

Union Bank

Palo Alto, California

$ 142.1

5

MICHELLE KIM

HSBC Bank USA N.A

Los Angeles, California

$ 125.5

6

HAO LIANG (FRANK) HU

Sterling Bank & Trust

Rowland Heights, California

$ 123.2

7

LYSA CATLIN

Caliber Home Loans, Inc.

Kirkland, Washington

$ 118.0

8

KHUE DANG

Union Bank

Bellevue, Washington

$ 103.3

in Millions

TOP MORTGAGE LOAN ORIGINATORS

BY 2017 UNITS FUNDED Rank

2017 Units Funded

Name

Company

Location

4

SIMON YU

Union Bank

Bellevue, Washington

277

5

HAO LIANG (FRANK) HU

Sterling Bank & Trust

Rowland Heights, California

219

T6

LYSA CATLIN

Caliber Home Loans, Inc.

Kirkland, Washington

212

T6

JAMES CHEN

Citizens Bank

New York, New York

212

8

AN LE

Primelending, Inc.

Arlington, Texas

198

c o n t i n u e d FA L L 2 0 1 8

41

TOP MORTGAGE LOAN ORIGINATORS

BY 2017 VOLUME Rank

42

2017 Volume

Name

Company

Location

9

JAMES CHEN

Citizens Bank

New York, New York

$ 97.8

10

CHIH-LIN LIU

HSBC Bank USA, N.A.

San Marino, California

$ 86.2

11

KHAI NGUYEN

Absolute Mortgage & Lending

Dallas, Texas

$ 85.2

12

BIKI (HEI YEE) KWOK

Sterling Bank & Trust

Alhambra, California

$ 82.1

13

CHAU HUYNH

Bank of America

New York, New York

$ 79.3

14

AILEEN HOM

Wells Fargo Private Mortgage Bank

San Francisco, California

$ 77.3

15

CHOE HUNG

U.S. Bank

Pasadena, California

$ 74.8

16

TINA JING CHEN

Sterling Bank & Trust

Alhambra, California

$ 67.6

17

RICKY LAM

Sterling Bank & Trust

San Francisco, California

$ 59.7

18

TAMIE PHAM

Union Bank

Palo Alto, California

$ 59.6

19

WINNIE HO

HSBC Bank USA N.A

Millbrae, California

$ 56.2

20

QIAN HU

Sterling Bank & Trust

Burlingame, California

$ 54.4

FA L L 2 0 1 8

in Millions

TOP MORTGAGE LOAN ORIGINATORS

BY 2017 UNITS FUNDED Rank

Name

Company

Location

2017 Units Funded

9

RANDY WATKINS

Academy Mortgage

Dallas, Texas

156

10

MICHAEL PARK

Wells Fargo

Blaine, Minnesota

144

11

BIKI (HEI YEE) KWOK

Sterling Bank & Trust

Alhambra, California

143

12

LILLIAN WONG

Union Bank

Palo Alto, California

140

13

TINA JING CHEN

Sterling Bank & Trust

Alhambra, California

133

T14

JED ANANTASOMBOON

Academy Mortgage

Dallas, Texas

132

T14

MICHELLE KIM

HSBC Bank USA N.A

Los Angeles, California

132

16

CHOE HUNG

U.S. Bank

Pasadena, California

127

17

KHUE DANG

Union Bank

Bellevue, Washington

120

18

KAREN CHIU

New American Funding

Pasadena, California

115

19

CHIH-LIN LIU

HSBC Bank USA, N.A

San Marino, California

105

T20

QIAN HU

Sterling Bank & Trust

Burlingame, California

102

T20

CHAU HUYNH

Bank of America

New York, New York

102

FA L L 2 0 1 8

43

AREAA GLOBAL’S JOURNEY TO THE INTERNATIONAL STAGE

by Jim Park

In early 2013, Allen Chiang approached me with an idea after an AREAA board meeting. He said “wouldn’t it be great if AREAA can be financially independent so we can pursue our mission without the worries of fluctuating sponsorship dollars and the ups and downs of the real estate business’ or something to that effect.

The following week, I wrote up a draft business plan and a mission statement of sorts based on Allen’s goals. In that initial draft, I wrote “With AREAA Global’s platform, you can cultivate new international clients and turn your real estate investment ideas into long-term, wealth-building opportunities for your business.”

With that basic concept in hand, Allen and I hit the road and started to talk to our members and partners about our new business plan for this new for-profit entity under AREAA National. Few months later, AREAA Global was officially launched as a California corporation with the small capital investment from AREAA National. And with that, we were in business. Sort of… As someone once said to me, if you aren’t transacting business then you are not in business. To create that first business transaction, Allen and I pursued many ideas such as a property management deals for our members, explored investments into China to develop a China-based “HomeDepot”, EB-5 investments, relocation business, global referral business out of France and many more. We tossed many ideas around build that momentum, but we were getting minimal traction.

44

FA L L 2 0 1 8

way we support developers and help our members. That idea ultimately evolved into AREAA Global Exchange – a powerful marketing and technology platform that helps showcase some of the top new developments in the US and abroad while we give our members the benefit of top tiered commission structure.

We quickly realized that Allen and I could not execute any of these plans on our own without the support of additional AREAA volunteers. So that following year, we started to talk to a number of AREAA leaders to form the first AREAA Global board. The board was instrumental in guiding our initiatives, focusing our energy and extending our reach into new markets and partners.

We decided we needed a staff person so brought on Scott Berman on as a part-time AREAA Global employee. His job was to help create the collateral and website for AREAA Global, and anything else we needed to launch this “start-up”.

Unfortunately, AREAA National found Scott’s talent in writing and policy to be so critical to the association, we saw less and less of him. Nevertheless, Scott was always there to help out when needed.

In the past year, three things happened that really propelled the organization forward and moved us to another level.

First, we hired Michelle Van Ruyven as a Managing Director to ensure that there was a day-to-day oversight and management of our key initiatives. She continues to be critical to ensure that no partnership or timeline falls through the cracks! Second, nearly simultaneously to Michelle’s hiring, we convinced Carmen Chong to step up as AREAA Global CEO. Allen told her that AREAA Global CEO’s salary is zero but that we would gladly pay her with additional love and admiration from AREAA members.

Thankfully, she accepted! Finally, Nina Fabbri approached me late last year with an idea for a builder marketing platform and she was absolutely convinced that it could fundamentally change the

The combination of these three ladies reenergized the organization and pushed our ideas into a real business platform.

Looking back, we’ve learned a lot about what truly creates value to AREAA members and our development partners.

And I can’t wait for our members to see first-hand some of the new initiatives and international partnerships we are bringing on for AREAA. You will truly be amazed at what AREAA Global has become.

That original mission document ended with the following sentence, “With direct access to the largest network of real estate experts focused on the Asian market within the United States and around the globe, AREAA Global will make your real estate and business transactions more profitable and successful.” Those words are now becoming a reality for AREAA Global and our members – thanks to our outstanding team and world class board. And, of course, I have to thank Allen Chiang for telling me to “Make Money” for AREAA. As they say, great companies always start with that lazer focused vision of where you want to be!

FA L L 2 0 1 8

45

SPOTLIGHT ON: WEALTH CREATION IN LAS VEGAS State of the Rental Market in 2018 Asian American and Pacific Islander (AAPI) 2018 AAPI Purchasing Power

$1 Trillion

That’s a 256% increase in purchasing power since 2000

AAPI represented $18 billion in non-occupant mortgage loans

The AAPI population in Nevada grew 123% between 2000 and 2012 Average Single Family Home in Las Vegas May 2007 | $390,817 (market peak) August 2018 | $335,930

Vancouver, WA 2.9%

HOT RENTAL MARKETS Year-over-Year Growth in % Rochester, NY 3.0%

Riverside, CA 3.5%

Knoxville, TN 3.5%

Las Vegas 3.4% Houston, TX 3.6%

Tampa, FL 4.4%

Orlando, FL 5.9%

Overall Rate of Inflation | 2.9% Year-over-Year National Growth | 1.2% Sources: Apartment List National Rent Report: https://www.apartmentlist.com/rentonomics/national-rent-data/ AREAA State of Asia America report: http://www.areaa.org/2017-state-of-asia-america/

Brien McMahon, Senior Executive Vice President and Chief Franchise Officer for Radian Group Inc., is responsible for leading Radian’s enterprise, mortgage insurance, services and enhanced sales teams as well as marketing and customer experience strategies. Brien has more than 25 years of experience in the financial services and real estate industries.

By Brien McMahon

With the 2018 AREAA National Convention finding its home in Las Vegas, Nevada this October, it’s a good time to take a look at the unique real estate market dynamics in Las Vegas.

A number of circumstances are aligning in the Las Vegas market that make purchasing an investment property a strong strategy for personal wealth creation. With home prices remaining moderate, potential buyers are skittish and inventory remains low, pushing more potential homebuyers into rental properties and creating a competitive rental market. While national rental rate growth is lagging behind inflation rates, in some individual markets the reverse is true. For example, according to a recent Apartment List National Rent Report, yearover-year growth in the Las Vegas rental market stands at 4.3%, well above the national inflation rate. Similarly, cities in Florida, California, Texas and Tennessee are also seeing growth rates higher than 3%.

With these market dynamics, agents and brokers serving the Asian American and Pacific Islander (AAPI) market in Las Vegas and other select cities have a strong selling opportunity.

Real estate professionals can use data from past and present market conditions to help educate homebuyers on their prospects for wealth creation.

According to the AREAA 2017-18 State of Asia America Report, the AAPI population has enormous and growing purchasing power and, as a community, is active in

46

FA L L 2 0 1 8

the non-occupant housing market, purchasing investment properties in higher numbers than any other minority group.

Analytics from Red Bell Real Estate, LLC, a Radian company with extensive real estate data on every market across the country and proprietary technology, shows that the average price of a single family home in Las Vegas is currently $55,000 below 2007 prices. This convergence of rising rental rates, a competitive rental market and moderate home prices, combined with the availability of strong financing options, creates an opportunity to purchase investment properties at a favorable price, or convert existing homes into rental properties. These properties have the potential to generate positive cash flow immediately, build equity that provides leverage for additional funding, create tax advantages, and appreciate in value over time.

As an agent or originator, understanding what makes a property a strong investment opportunity can provide an advantage and create strong repeat business as these investors return to acquire additional properties. In whatever market you may be serving, it is essential to arm yourself with a robust amount of knowledge and data to assist clients in identifying and pursuing these favorable market conditions.

As measured by residential transaction sides.

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All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company. Equal Housing Lender. © 2018 PrimeLending, a PlainsCapital Company. PrimeLending, a PlainsCapital Company (NMLS: 13649) is a wholly owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, CO, CT, DE, FL, GA, IA, ID, KS, KY, LA, MN, MO, MS, MT, NC, NE, NV, OH, OK, PA, SC, SD, TN, TX, UT, VA, WI, WY. Licensed by: AL Lic. No. 21004; PrimeLending, a PlainsCapital Company, 18111 Preston Rd, #900, Dallas, TX 75252, Phone: 888-812-2711, Ark. Lic. No. 105190; AZ Lic. No. BK 0907334; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act - Lic. No. 4130996; D.C. Lic. No. MLB13649; HI Lic. No. HI-13649; Illinois Residential Mortgage Licensee MB.6760635; IN Dept. of Fin. Inst.–Sub. Lien Lender Lic. No. 11169, IN Secy. of State-Securities Div. – Loan Broker Lic. No. 13649; ME Lic. No. SLM8285; MD Lic. No. 11058; PrimeLending, a PlainsCapital Company, MA Lender License No. MC13649; MI Lic. Nos. FR 0018489 and SR 0012527; ND Lic. No. MB101786; Licensed by the New Hampshire Banking Department – Lender Lic. No. 14553-MB; NJ Lic. No. 0803658; NM Lic. No. 01890; PrimeLending, a PlainsCapital Company, 2000 Winton Road Bldg. 1 #102 Rochester, NY 14618, Licensed Mortgage Banker - NYS Department of Financial Services Lic. No. B500999; PrimeLending, a PlainsCapital Company, Oregon Lic. No. ML-5260; Rhode Island Licensed Lender, Mortgage Banker Lic. No. 20102678LL and Broker Lic No. 20102677LB; VT Lender Lic. No. 6127 and Broker Lic. No. 0964MB; PrimeLending, a PlainsCapital Company, WA Lic. No. CL-13649; WV Lender Lic. No. ML31704 and Broker Lic. No. MB-31703.

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47

THE HOUSE ALWAYS WINS:

by Sherwin Escanuela

A decade has since passed since the Global Financial Crisis hit. Living in Las Vegas during those times seemed surreal and so long ago. We were the foreclosure capital of the United States, a title we didn’t want. How bad was it? An analysis done in 2012 by the Southern Nevada Home Builders Association and Applied Analysis stated that it would take 46 years for Las Vegas to return to it’s peak price levels.

THAT’S RIGHT: 46 YEARS. HERE ARE SOME STATS: Over 60% of homes listed on the MLS in Q4 2008 were Vacant; for the first time in two decades, Clark County experienced a decrease in population; by 2011, home values dropped to levels not seen since Q2 1995; Over 72% of homes in 2009 were under water; two years later and 1 out of 76 homes would be owned by the bank.

IT WAS THAT BAD. 48

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By the end of 2010, most of us here didn’t see a light at the end of the tunnel; we saw a train coming at us full speed. No data or stat can truly show what the casinos looked like in 2010 as I walked through the desolate and empty halls on my way to meet another investor or Asset Manager.

The looks on the faces of homeowners who had lost their jobs, the equity they had in their homes, their 401K’s, their life savings - everything they’ve worked for their entire lives – was painful to see. And all the while, we watched CEOs and bank executives receive golden parachutes and bailouts while many on main street were on the brink of being homeless. This was the reality myself and hundreds and thousands faced here in my city.

"An analysis done in 2012 by the Southern Nevada Home Builders Association and Applied Analysis stated that it would take 46 years for Las Vegas to return to it’s peak price levels.

That’s right: 46 YEARS."

"The looks on the faces of homeowners who had lost their jobs, the equity they had in their homes, their 401K’s, their life savings - everything they’ve worked for their entire lives – was painful to see."

I know millions of Americans faced this as well, a thought not lost upon me as I write this. Let’s not all forget the ARM’s resetting in the coming years. I could have left, given up my license like half the Realtors did.

Go back to the previous life of Computer Administration, move to a city less impacted, where ever that may have been.

BUT I DIDN’T. I am a numbers junkie, a stat cruncher.

The data showed me what every gaming table and casino already knew: the House always wins. If you play the long game and not what’s in front of you, then you will always come out ahead. A decade has since passed and where Las Vegas is now is even bigger, better and stronger than where we were.

The Las Vegas Golden Knights went to the Stanley Cup finals in their inaugural season. We have a WNBA team and the Raiders are coming to town. The casinos are in full swing. The gaming tables might not be collecting like they used to, but that is all part of our reinvention. Night clubs, day clubs, pools, spas and world class restaurants are lining the strip.

The housing data shows that as of the end 2017, over 86% of homes have positive equity. Our population is now over 2.2 million, well over the peak levels before the great recession. We have the 3rd fastest employment growth at 3.3%, double the national average of 1.6%. In 2017 Forbes ranked Nevada as #1 in Best Economic Health Ranking in the US. Zillow listed $289,000 as the average sales price of a home in Southern Nevada as of August 2018. A stark difference from the $127,000 it once was. No state income tax, a lower cost of living, bustling economy outside of gaming, and a very favorable tax and business climate all play into the overall growth of Las Vegas. A city that has reinvented itself several times.

A small 405 acre town founded in May 5th 1905 still has a lot of growing and even more change on the horizon. But one thing is for sure, we aren’t afraid of change and when it comes to Las Vegas, the House always wins.

"The housing data shows that as of the end 2017, over 86% of homes have positive equity"

Sherwin Escanuela is Real Estate Advisor who's been practicing Real Estate full time for the better part of 15 years. A father first and foremost and a donut enthusiast.

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49

Through your efforts in the No Other Campaign and your 3 Point Plan, the AAPI community has greater access to homeownership. Realogy commends AREAA on their achievements over the past 15 years and looks forward to seeing our Asian American community reach new heights.

AT REALOGY WE OPEN DOORS AROUND THE WORLD TO: • HOMEOWNERSHIP • BUILDING COMMUNITIES

• ENTREPRENEURSHIP • GLOBAL AND LUXURY MARKETS

A global leader in residential real estate franchising and brokerage with many of the best-known industry brands, opening doors to growth opportunities for all brokers, agents and employees.

© 2018 Realogy Holdings Corp. All Rights Reserved. All logos and trademarks owned or licensed by subsidiaries of Realogy Holdings Corp. Each franchised office is independently owned and operated. Any affiliation by a real estate sales agent with a Realogy franchise brand is intended to be that of an independent contractor sales associate.

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Special Feature

IMMIGR ANT SUCCESS STORIES Tom’s story starts like so many immigration stories we’ve heard before. In 1975 when Saigon fell, his mother got on a boat with 6 of her 8 children to seek a new life - one that didn’t

involve being afraid for your life, one that meant you weren’t fearful of that fated knock on the door telling you you had to go with the authorities and be “RE-educated”, one of freedom and independence. He was 7.

Upon arriving in the US by way of a sponsoring church in Ohio, his mother heard from friends that Massachusetts had the best schools. So, she packed up her family again and moved east. Speaking very little English, she worked two full time jobs and made sure each and every one of her children finished college.

Most of his siblings went on to earn advanced degrees as well.

Housing was expensive, so his whole family lived in two bedrooms and a dining room in a friends apartment until the friends were able to move into a place of their own. Tom remembers the struggles of those times. He remembers his family not having enough money so he could have a birthday party where his friends could be invited. And yet, they pursued.

It was that time his mom wanted to buy a home. Driven out of a discriminatory neighborhood, his family moved into one of the most depressed of areas in Massachusetts. His family

Tom Truong

bought their first 3 family home - for a whopping $34,000 where Tom first was exposed to the power of real estate investments. He remembers

By: Marissa Truong

52

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his brother and sister having to cosign for the mortgage and he having to translate the documents before their Mom signed the papers. He was 11 years old. He remembers being “jumped” in the neighborhood a few times, losing his watch on one of those occasions, his jade Buddha necklace on another. And yet, he pressed on.

Many understand the struggles of a refugee story, the feeling of displacement and wanting to fit into the community and yet also the desire to maintain your cultural identity-and all the while the underlying prejudices which come with it.

But this is where Tom’s story differs.

As soon as he was old enough, Tom’s objective was to make money in the true spirit of entrepreneurship. He did everything from getting a paper route by lying about his age, to selling hot dogs without a permit outside of Fenway Park so he could earn money and help provide for his family-this was all before he was even a teenager.

Becoming financially independent was something that was ingrained in him. And yet, there’s even more to the story than just that.

When asked when was the first time he became interested in Real Estate, he remembers going to a Robert Kyosaki presentation in the early 90’s about creating passive income streams and from that point on he was hooked. He

realized that the American Dream of home ownership was not just a desire, but a vehicle which could propel him into the financial independence he was looking for. Once he was able to do this for himself, he looked to serve his community by helping others realize their American Dream.

So now his story has brought him to where he is today. When he first talked about starting an AREAA chapter in Boston, the road inevitably would bring him to the place he is now. That’s who Tom is. He believes in serving, he believes in giving back, and he believes strong leadership will propel the organization closer towards the objective of creating affordable housing for the AAPI community for which he serves.

"Thank you for allowing me to ser ve our organization, to be your voice, to act in AREAA's best interests and to enhance and elevate you, our members, in order to give back to our communities.”

- Tom Truong

After all, he gets it from his Mom...

Immigration has been a fundamental part of American history since its conception. As the country continues to grapple with this complex issue, we want to highlight some of the amazing contributions immigrants have made. If you know someone who you think we should profile, email the Editor at editor@areaa.org .

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53

You’re not just selling homes, you’re building relationships.

We can help.

When your clients have a positive, productive experience, they’ll recommend you to others.

A quality experience is a priority here at SunTrust Mortgage. We specialize in educating your clients about their financing options, offering competitive rates, and building relationships that will help you prosper.

Have your clients contact one of our mortgage professionals at 877.891.7696 or visit suntrust.com/mortgage.

The information contained herein is intended as informational material for the sole and exclusive use of the business entities to which it was distributed and is subject to change without written notice.

Equal Housing Lender. SunTrust Bank - NMLS #93471. SunTrust Mortgage is a tradename of SunTrust Bank and loans are made by SunTrust Bank. ©2018. SunTrust Banks, Inc. SUNTRUST MORTGAGE and the SunTrust Mortgage logo are trademarks of SunTrust Banks, Inc. All rights reserved.

Rev: 6.28.18

Connect with the largest audience of home shoppers premieragent.zillow.com

By Rob Mehta Throughout my many years of involvement with AREAA, NAR and other organizations, a quite common question always comes up, and it’s usually posed by an individual either in the real estate industry our even outside of it, and that question is “What do you get out of your involvement with these organizations?”.

Usually this is followed up by something like “Is this really worth your time?”

When I’m asked these types of questions I generally have an enthusiastic response, and this leads to sometimes a rather lengthy observation as to why I choose to spend my time and 56

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money to work within these organizations as a volunteer and attend the many conventions and events. Of course there are many reasons to be involved in your industry and it’s respective organizations, but I’ll focus on our question in particular here: building your brand and making more money.

Now, for the average practitioner on the street that has never been involved with say AREAA or NAR in any capacity outside of paying their dues and maybe attending a meeting or two, this “brandbuilding” and creating dollars from it might feel like a very foreign concept. Why on earth would you spend your time volunteering in committees, attending conventions, etc and how can this possibly lead to more revenue for your business?

The answer is simple, and not-so-simple; all at the same time. The simple answer is, you will build relationships that will lead to business opportunities.

The not-so-simple answer is, this will not happen overnight, nor will it happen on it’s own by just attending conventions or serving in a volunteer capacity. I can tell you from personal experience, having attended countless conferences and having served on committees, executive boards, etc that your success in cultivating relationships and business - or lack of it - will stem directly from your ability to continue the relationship-building well beyond that first meeting. Think about it; how often has business simply come your way through a one-time, chance meeting?

If you have had this happen to you, it’s possible that it was a “one-off” experience.

Remember, the real estate business is a “longgame”. Over time, as you continue to strengthen your involvement with the organization and the industry through your efforts, your relationships will continue to grow, which in turn means that your brand will continue it’s upward trajectory and awareness among this audience of your peers.

See you at the next convention.

So how do you actually do this? Here’s my simple punchlist: 1. Take time to reach out pre-convention to key individuals you want to meet with. Realize coordinating meetings can be a challenge; if you cannot meet in person set a calendar to meet via videoconference 2 weeks or so post-convention.

By the way; Zoom.us works great for this, and the basic account is free.

2. Use your convention time wisely, and focus on quality, not quantity of meetings for best results.

Have a gameplan as to what you want to discuss and what are next steps after your meeting. Bring marketing materials to distribute, but realize that much of the collateral material at conventions will probably end up in the recycle bin.

3. Post-Convention: Follow-up, follow-up, follow-up.

Realize that even if your proposal is a good one, timing might not be good for your prospect. In that case it is on you to continue to cultivate the relationship by staying in touch.

Rob Mehta is the owner of Rob Mehta+Partners, and specializes in education and consulting with a focus on business development, brokerage operations, marketing, agent recruiting and retention, and international development.

He has served as President of the Minnesota Association of REALTORS, Director for both AREAA and NAR's Young Professionals Network and a member of AREAA's inaugural "A-List." www.robmehtapartners.com

4. If your focus is to simply build a bigger referral business into your market, let your contact know what is happening and why there is an opportunity to refer on a regular basis. What does “regular” mean? In my book, this is monthly. An email, a video, something going out to remind your referral partners that you are available for their business.

Our best referrals have come to us years after an initial meeting, simply because we have kept in touch and our contact knows that we are reliable and have the proper market knowledge to help their customer.

5. Wash, Rinse, Repeat.

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57

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Supporting homeownership in the AAPI community is extremely important to our family of brokerage networks.

We are honored to be associated with the dedicated leaders at AREAA who are devoted to achieving this goal.

Proud to be a part of the 2018 AREAA Convention.

– Gino Blefari CEO, HSF Affiliates LLC NAHREP Silver Partner

– Teresa Palacios Smith VP, Diversity and Inclusion, HSF Affiliates LLC

Congratulations AREAA on 15 years of outstanding service.

To learn more, call 877-287-1433.

Congratulations to Randy Char for an outstanding year of leadership and service!

Kudos to Tom Truong as the incoming 2019 President.

Terms, conditions and fees of accounts, programs, products and services are subject to change. This is not a commitment to lend. All loans are subject to credit and property approval. Certain restrictions may apply on all programs. Offer cannot be combined with any other mortgage offer.

This offer contains information about U.S. domestic financial services provided by Citibank, N.A. and is intended for use domestically in the U.S. 58

© 2018 Citibank, N.A. NMLS# 412915. Member FDIC and Equal Housing Lender. Citi, Citi and Arc Design and other marks used herein FA L L 2 0 1 8 are service marks of Citigroup Inc. or its affiliates, used and registered throughout the world.

© 2018 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® ©2018 Real Living Real Estate, LLC. Real Living is a registered service mark. Equal Opportunity Housing Provider.

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Beginning with the 13th mortgage payment through the end of the loan term, the interest rate reverts to the original interest rate when the loan originally closed. Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Visit usbank.com to learn more about U.S. Bank products and services. Mortgage, Home Equity and Credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC ©2018 U.S. Bank. 171760c 9/18

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Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Visit usbank.com to learn more about U.S. Bank products and services. Mortgage and Home Equity Products are offered through U.S. Bank National Association. Deposit Products are offered through U.S. Bank National Association. Member FDIC. ©2018 U.S. Bank 180422C 9/18

Proud sponsor of the AREAA National Convention

AREAA ATLANTA AREAA Atlanta Chapter hosted their 10th Anniversary Gala on Saturday, August 25 at the Delta Fight Museum and Hangars in Atlanta, GA. Special guests included Hope Atuel (AREAA National), Carmen Chong (AREAA Global), Donnie Pingaro (AREAA A-Listers), Jed Anantasomboon (AREAA Dallas), Yihou Han (AREAA New York), Henry Choi (AREAA Boston), Miriam Crispin (AREAA Tampa), Ann Trangdai (AREAA Chicago), and a virtual appearance by President Randy Char.

AREAA Atlanta celebrated the night with a networking tour of the Delta museum, music, drinks, and entertainment by local acrobatic company Liquid Sky. Honored on stage were all of the chapter's Past Presidents since 2008, from Yangsook Ku, to Gary Yip, Tim Le, Dao Malaythong, Tim Hur, Glenn Park, Jack Bai, and current President Helen Pham Nguyen. Deepest gratitude to all of the event's sponsors, including Kham Law (www.closing.legal), Point Honors & Associates, Realtors (www.pointhonors.com), Century Communities (www.centurycommunities.com), Zdrilich Law Group (www.tzlawgroup.com), Campbell & Brannon (www. campbellandbrannon.com), Hi-Resmotion Real Estate Photography (www.hi-resmotion.com), Wells Fargo (www.wellsfargo.com), Bridgeway Financial (www.bridgewayfinancial.com), SunTrust (www.suntrust.com), Bank of America (www.bankofamerica.com), Farmers Insurance (www.farmers.com), Franklin America (www. franklinamerican.com).

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AREAA SAN FRANCISCO PENINSULA

AREAA Builds Community Day AREAA San Francisco Peninsula partnered with Habitat for Humanity Building Blocks in East Palo. A total of fifteen volunteers helped revitalize neighborhoods block by block. Members include, in the photo from left, Simon Lo, Lyman Chao, Alan Louie, Liza Fong, Jackie Kim, Kimberly Wong, Jenna Zhong, Jean Lu, Monique Wong-Lee and Emma Bigge.

We want to give a big thank you to all of our sponsors who help make everything we do possible: Bank of America, Sterling Bank and Trust, Union Bank, HSBC, Citibank, Wells Fargo, Bank of the Orient, Chase, US Bank and BBVA.

AREAA San Francisco Peninsula and Greater East Bay chapters are part of the HSBC corporate team for the Norther California International Dragon Boat Festival.

AREAA San Francisco Peninsula hosted a private showing of the movie Crazy Rich Asians. We proudly watched the movie the day after its release date. In its opening weekend it took No. 1 at the box office.

We supported this all Asian cast and director of a major Hollywood film for the first time in 25 years. This sold out event helped benefit Olymic Gold Medalist Kristi Yamaguchi’s Always Dream foundation.

As in real estate, timing is everything. AREAA San Francisco Peninsula is excited to extend our team spirit to this race and as a chapter strong! Members include Gavin Lam, Sonny Chan, Lyman Chao, Kimberly Wong and Michelle Rayo.

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AREAA SAN DIEGO AREAA Builds Community Day Gary Kawano, Past President of AREAA SD, was approached by local realtor Michi Suzuki who was reaching out to the San Diego Real Estate Community on behalf of the Yang Family who experienced a devastating loss during the Lilac Fire last year.

At our January AREAA SD Board Meeting Gary brought this item to the table and the chapter approved donating the proceeds from our December Gala which was just under $1500. Current President Anne Wiker next aimed for a goal of at least $2000. To get to that goal hosted opportunity drawings during our annual Lunar New Year Event.

At our April AREAA SD Board Meeting The San Diego Chapter presented Mr. & Mrs. Yang with a check to acknowledge the donation we would be providing them. AREAA San Diego Past President Ric Manalo shared a special story on his Facebook page from the day we presented the check: I wanted to give a shout out to #AREAASD not only for executing their mission of providing sustainable home ownership to the AAPI and their communities, but also doing their part in giving back. Today we helped a family that lost their house, all of their belongings and their business in the Lilac fires last year. It may seem they had lost everything but the husband whispered in my ear that today was their 46 year wedding anniversary and was grateful that even though he lost everything, he had something so special that money cannot buy his wife and their sons.

AREAA GREATER ORLANDO AREAA Greater Orlando is pleased to announce some exciting leadership changes and new sponsorship support as the growing chapter heads into the new year. Among the chapter’s leadership news is the return of co-founder Ken Pierce as the organization’s President, while board member Scott Kauffman assumes the duties of Vice President.

Pierce, independent broker/owner of Orlando-based Pierce Florida Realty LLC, was gracious enough to take over the vacant president’s position when board member Gloria Chu had to step down for personal reasons. Kauffman, broker/owner of full-service Orlandobased Aloha Realty Group LLC, is one of the organization’s newly elected board members.

The entire AREAA GO membership is grateful for all of Chu’s strong leadership in the past year thrilled she is able to remain on the board. Meanwhile, AREAA GO would like to express its gratitude for the following two organizations to become new 2018-19 sponsors: Carrington Mortgage and SunTrust Mortgage.

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If challenging the status quo is your status quo, you’ll fit in just fine around here.

JOIN THE RELENTLESS ©2018 Century 21 Real Estate LLC. All Rights Reserved. CENTURY 21® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.

Century21.com

Recognizing extraordinary efforts

Achieving great things in any community takes courage, vision, and tremendous effort. What each of us does can make life better for everyone.

Congratulations to the AREEA Members who received Realty Community Service Award, provided by the Wells Fargo Housing Foundation.

Randall Hom – Rebuilding Together Sacramento

Rosemary Tran Lauer - Devotion to Children

Victor Kee - Clatsop Community Action Regional Food Bank

Mony Nop – Mony Nop Foundation

Alex Phan – Portland Rescue Mission The Realty Community Service Award, provided by the Wells Fargo Housing Foundation, recognizes real estate agents who are members of a diverse real estate trade organization and who give back to their communities through philanthropic means.

This award is part of a suite of five programs, RealtyWINSSM that extend Wells Fargo’s philanthropic support of communities through partnerships with Real Estate Agents and Brokers. For more information about these awards visit www.cybergrants.com/wellsfargo/communitygrants or email, RealtyWINS@WellsFargo.com.

wellsfargo.com © 2017 Wells Fargo Bank, N.A. All rights reserved.

Member FDIC. 4632779 REV 09/2018

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SPRING 2018

35

Introducing The AREAA GLOBAL EXCHANGE

BUILD YOUR SECONDARY INCOME AND REFERRAL NETWORK THROUGH THE AREAA GLOBAL EXCHANGE AND CONNECT YOUR NETWORK OF CLIENTS TO TOP REAL ESTATE OPPORTUNITIES BOTH DOMESTICALLY AND ABROAD! AREAA Global presents the AREAA Global Exchange .. an exclusive marketing platform for AREAA members that hosts all approved real estate offerings and development projects from our strategic partners.

As an AREAA member you have exclusive access to the AREAA Global Exchange. AREAA members are granted instant listings and real estate investment opportunities to build your portfolio and client offerings. Members can access partner-run webinars to learn more about select development projects, engage with development representatives & access customizable marketing templates and e-blasts.

Do you have development connections or a project you would like to see included on the Global Exchange?

We encourage members to submit proposals for AREAA Global’s review and approval to contact@areaaglobal.com.

www.areaaglobal.com

EXCHANGE

(From left to right): Jazmyn Rushing, REALTOR®; Nicole D. Woods, REALTOR®; Albert Allen, REALTOR®; Brian M. Paris, REALTOR®; Ashley Rathburn, Texas Association of REALTORS®; Andrei Lubomudrov, Austin Board of REALTORS®; in front of the LBJ Presidential Library, Austin, TX

We can’t change history. The future is

our story to write.

Be a catalyst for change.

2018 marks the 50th anniversary of the Fair Housing Act. While progress

has been made, there’s more work to be done. What can you do? Redouble your efforts to understand fair housing laws and how your actions, words and understanding of the issues impact housing choice. And when you see discrimination, challenge it. Report it. Engage in community dialogue about the issues tied to housing choices, like schools, healthy communities, residential displacement and economic opportunity. Be informed, and take action to expand protections to groups who continue to experience discrimination, such as the LGBTQ community.

By protecting the rights to housing — free from discrimination for ALL people, the Fair Housing Act preserves and advances opportunities for everyone. As the REALTOR® community, let’s take ownership of fair housing rights and uphold the promise of the Fair Housing Act. Visit www.FairHousing.realtor to read more about what you can do and to join the commemoration.

Save the date

Global Luxury Summit April 2019 , Berverly Hills, California

Last year, international buyers spent over

$200 BILLION on U.S. properties

Working with global clients can be profitable, if you know what you’re doing.

Become a Certified International Property Specialist (CIPS) and: • Get specialized training to assist international clients • Join a network of nearly 4,000 designees in 48 countries Earn your CIPS designation today. nar.realtor/earn-cips Refer to a CIPS designee. nar.realtor/cips-search

Stay connected! nar.realtor/cips cips@realtors.org