a | r | e Fall 2016 by Asian Real Estate Association of America (AREAA)

Building a Builder Pipeline for Business / Creating Opportunities with AREAA Global / 8 Things YSK: Las Vegas Fall 2016 FA L L 2 0 1 6

Shape The Future Of Commercial Real Estate Senior Instructor Carmela Ma, CCIM, with a new CCIM designee.

Asian-American commercial real estate professionals can save more than $3,000 on CCIM Institute courses through the Cultural Diversity Education Program.

CCIM Institute partners with organizations that foster diversity in commercial real estate.

Earn the most distinguished designation in the commercial real estate industry, or simply maintain your certifications with CE credit.

To learn more or apply, contact Domonique Culpepper at dculpepper@ccim.com or (312) 321-4516.

FA L L 2 0 1 6

THE PREMIER PROVIDER OF COMMERCIAL REAL ESTATE EDUCATION

FA LL 2 0 1 6 Vo l u m e 8 , I s s u e 3 ON THE COVER (clockwise from bottom left): 2016 "A" List honorees Long Doan, Tere Foster, Raquel Quinet, Khai Nguyen, Trish Vaghani, Michelle Kim

F E AT U R E S 31

2016 AREAA A-List

10 Questions with Craig Hogan

Our annual Best of the Best, but with a new twist: for the very first time, this year we are also featuring the top teams and mortgage loan officers throughout the organization.

Craig Hogan, VP of Luxury for Coldwell Banker and AREAA’s Luxury Committee Chair, shares his views on the industry, book recommendations, and what it’s like to win a pink Cadillac in this reader favorite.

Traveling with the Bohemian Vagabond: Taiwan Jacki Ueng travels to “The Beautiful Isle” to share the mystery and beauty of Taiwan.

FA L L 2 0 1 6

o rg a sF l W l e NEom W fr y l on

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CONTENTS 12

Interview with the Allens

AREAA’s two famous Allens discuss why they believe getting your CRS designation is critical, AREAA’s explosive growth, and the future of the real estate industry

This quarter’s tech discussion revolves around how you stay connected with your sphere of influence, and how to make sure you are maximizing your potential business leads.

Creating Business Opportunities: An AREAA Global Success Story

Shared Value: Q&A with SVN’s Kevin Maggiacomo

Taking Charge: Women in Leadership 2017 AREAA National President Angie Lee interviews new ERA President and CEO Sue Yannaconne about life, work, and the ever changing landscape of real estate.

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US Business Visa Options Everyone knows about the EB-5 Visa, but there are plenty more options to choose from that may better suit your or your client’s needs. By Mary Carmen R. Madrid Crost and James M. McClintick

Building a Builder Pipeline for Business Dottie Sheppick shares insights and advice on how to create and build relationships with builders and developers to make sure you always have a steady stream of business.

AREAA Member Daniel Eng discusses how a chance meeting on a trade mission turned into one of AREAA Global’s first and most successful ventures to date – and how your idea could be the next big thing.

8 Things You Should Know – Las Vegas Sin City, the City of Lights, the Great Green Valley – Las Vegas has a lot of names, and an incredible history. Learn about the tumultuous history that led to the mega-tourist destination you see today.

SVN President and CEO Kevin Maggiacomo discusses how commercial brokers can elevate both returns and society by creating shared value.

By John Peretz

Spotlight: Proxio AREAA membership comes with many great benefits, one of which is access to Proxio – a powerful listing platform that allows you to market your business globally.

Tech Talk with Rob Mehta

Strategic Advantage: Technology in Real Estate Rich Enderlin, COO of BRC Advisors, talks about the importance of staying at the forefront of technology to give your business and your clients the edge needed to be successful.

ADVERTISERS

Contact PRAVEEN SHARMA to find out about ADVERTISING OPPORTUNITIES:

a-r-e@prveen.com | 951-514-1053

D E PA RT M E N T S 10

Letter from the Editor

Mastering Fundamentals: Staging an Open House In our recurring piece focused on getting you back to basics, we take a look at how you can put on an Open House worth visiting.

a / r / eats! Ramen may be the noodle dish du jour, but this simple recipe for Udon noodles may soon have you changing your tune.

areaa.org/austin

AREAA Global

areaaglobal.com

AREAA Greater East Bay

areaa.org/eastbay

AREAA Greater Los Angeles

areaagla.org

AREAA San Fernando Valley / Santa Clarita

areaa.org/sfvsc

Bank of America

bankofamerica.com/neighborhoodlending

Bank of America

bankofamerica.com/downpaymentcenter

BoomTown

BoomTownROI.com

CCIM Institute

dculpepper@ccim.com

Chinese Real Estate Association of America (CREAA)

CREAAUSA.org

Citibank

877-287-1433

CRES Insurance

cresinsurance.com/areaa

DFW iRealty / Engvest

dfwirealty.com

Gina Duncan, Fine Island Properties

YourMauiRealEstate.com

Victor Jin, Realty Executives

victor@ISellRE.com

Dick Lee, Luxury Mortgage

DLee@LuxuryMortgage.com

Perry Martin, Century 21 Tenace

eRealEstateAgent.net

National Association of REALTORS® Global

realtor.org/global

Phan Hall Property Group

PhanHall.com

RCN Capital

RCNCapital.com

RE/MAX

theremaxcollection.com

RISMedia

ace.rismedia.com

Kenny Truong, #FASTAGENT

kenny@climbsf.com

Tom Truong, Carrington Real Estate Services

TruongE.com

Warmington Homes

HomesByWarmington.com/realtors

Wells Fargo Funding

wellsfargofunding.com

Wells Fargo Home Mortgage

diversesegments@wellsfargo.com

Betty Sun Wong, Pacific Union

BettySunWong@gmail.com

International Real Estate 101 AREAA’s Mark Kitabayashi’s final piece in his four part series, gives you ways to build an international clientele right now

AREAA Austin

Around the Association From members who made the headlines, chapter events, and everything else, here is what’s happening across the organization.

Inside Front Cover

21 4

Back Cover 35 Inside Back Cover

9 39 3 59 FA L L 2 0 1 6

FALL 2016 Vo l u m e 8 , I s s u e 3

ED ITOR Scott Berman

C REATIVE D IRECTOR Praveen Sharma 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. ÂŠ2016 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: Praveen Sharma ADVERTISING | a-r-e@prveen.com Scott Berman EDITORIAL | 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.

FA L L 2 0 1 6

PROUD TO BE CELEBRATING 90 YEARS IN 2016

DRIFTSONG AT WALLIS RANCH

VISTAVIEW IN LAS VEGAS

Warmington has long been a broker-friendly builder and we rely upon and appreciate the partnerships we have forged with a network of real estate professionals. At all of our new home neighborhoods we welcome brokers and their agents and pay commissions. We strive to offer new homes and neighborhoods that you will be proud to present to your clients. And we make it easy! When you sign up and become a Preferred Real Estate Professional at HomesByWarmington.com/realtors, you can register your clients online before they visit.

New Warmington neighborhoods throughout Southern Nevada and California. MESQUITE, NEVADA

LAS VEGAS, NEVADA

Desert Ridge Single Family Homes Mesquite From the low $200,000s

Westbury Single Family Homes Southwest Las Vegas From the $280,000s

Ridgehaven Single Family Homes Southwest Las Vegas From the $270,000s

Rockpointe Single Family Homes Southwest Las Vegas From the $230,000s

Vistaview Single Family Homes Southwest Las Vegas From the $330,000s

Opus at Beacon Park Luxury Flats Irvine From the low $700,000’s

Canopy at Esencia Single Family Homes Rancho Mission Viejo From the low $700,000’s

the E.R.B. Mixed-Use + Single Family Homes - Los Angeles Coming Soon

the Glen LA Single Family Homes Los Angeles Coming Soon

Annie Street Single Family Homes Daly City From the low $1,000,000s

Talamore Single Family Homes Fremont From the low $1,000,000s

SOUTHERN CALIFORNIA Trellis at Esencia Single Family Homes Rancho Mission Viejo From the high $500,000’s

Tablelands* Single Family Homes Costa Mesa Coming Soon

NORTHERN CALIFORNIA Driftsong at Wallis Ranch Single Family Homes Dublin From the low $1,000,000s

Trestle at Wallis Ranch Courtyard-Style Attached Homes - Dublin Coming Soon

Realtors welcome. Warmington Residential is part of the Warmington group of companies. The first Warmington company was established in 1926.

In partnership with MWCH. Models depicted do not reflect racial preference. Prices effective date of publication and subject to change without notice. 09.09.16

HomesByWarmington.com

FROM THE

Director I read somewhere that “the idea of being

exceptional is not so much the destination, but the journey through which one has E XCE P T ION A L I S M

to travel in order to be

I S CR E AT ING A ND

exceptional.”

IMP R O V I S ING W HE N T HING S GE T T OUGH R AT HE R T H A N GI V ING UP. E XCE P T ION A L P E OP L E R I S E T O T HE T OP BE C A U S E T HE Y H AV E BE AT T HE ODD S T HR OUGH T HE IR O W N INNO VAT ION A ND CR E AT I V I T Y. T H AT I S S IMP LY T HE A ME R IC A N WAY.

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Take a look at some of the exceptional people in our lifetime – recently from the summer Olympics in Rio. For a lot of the Olympians, particularly those who have earned a medal, it’s not so much the end results, but the process of getting to the end result that is better proof of their worth. Exceptionalism is creating and improvising when things get tough rather than giving up. Exceptional people rise to the top because they have beat the odds through their own innovation and creativity. That is simply the American way. As you turn the pages of this issue, you’ll read stories and features highlighting exceptional individuals – highly successful estate agents across the country, top mortgage professionals, CEOs of real estate companies who have risen to be exceptional leaders in their own right. Many if not all of these individuals you’ll get to meet at this year’s AREAA National Convention in Las Vegas. Playing from the victorious “No Other Campaign” that AREAA’s taken on, this year’s National Convention theme is “Like No Other Convention”

and rightly so! What other convention can you find phenomenal networking, unique sessions that feature smart home technology, drones, leadership opportunities beyond AREAA, inspirational speakers and entertainment galore not to mention receptions and late-night events that can extend until the wee hours of the morning (not sure though if that’s good or bad). All that to say that AREAA’s convention is truly exceptional in the industry, bar none. And this could not have been made possible by all the planning that goes behind the scene, particularly to the work that the AREAA staff painstakingly goes over detail after detail from venue selection, AV requirements, signage, speaker selection, menus and the list goes on and on. Everything that you can ever think of that, when put together, creates a uniquely wonderful attendee experience at the AREAA National Events. The national staff are my unsung heroes -- exceptional people who have perfected the art of doing small things exceptionally well, every day over a period of time. So I am taking this very public opportunity to thank Christine, Jazz, Michelle, Monica, Paul and Scott and of course, Praveen who have been working tirelessly to put together a program that AREAA can be exceptionally proud of. May this issue serve as an inspiration to many of you who are on the brink of being exceptional and we look forward to featuring you and your story in a future issue. All my best,

HOPE ATUEL

AREAA Executive Director

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INTERVIEW WITH THE

ALLENS: CRS, AREAA, Eric Millette

Steve Anderson

AND MORE

Allen Okamoto, known as “the Godfather of AREAA” and Allen Chiang, referred to as the “Jackie Chan of AREAA,” spoke with Council of Residential Specialists President Janelle Pfleiger about the importance of the CRS Designation, AREAA’s explosive growth and the future of our industry.

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Janelle Pfleiger: Tell me how you got started in real estate.

Allen Okamoto: Well my father started the business in 1946, right after World War II. He returned to San Francisco after he was in the JapaneseAmerican internment camps. He started in insurance and he got into real estate after the Japanese population started to grow and they needed housing. In 1965, I got into the business and the rest is history.

Allen Chiang: I was really unhappy with my real estate agent when I purchased my first house and I thought, ‘I can do better.’ So

What prompted you to seek your CRS Designation and why does CRS stand out from other designations?

and that we need to bring the industry standard level higher. So, I spent my time getting 13 or 14 designations from CCIM all the way to ABR, including CRS. CRS is really the root of the real estate industry. The other designations are shining your license; everything else is a specialty. CRS can really move the majority of the industry members to a higher level of achievement and it is a standard across the board. Every time I make a referral, I look for a CRS so it’s someone I can trust.

Allen Chiang:

Allen Okamoto:

In 2001 I wanted to I wanted to show everybody how to gain better knowledge

I don’t have 13 designations but I have my GRI, SRES and CRB. I had not

I got my license and I’ve been doing real estate since. From that day [in 1986], I’ve been trying to make our industry better.

Allen Okamoto: He now currently has five offices, 400-450 agents, making him the owner of the largest ethnically-owned, independently-owned real estate office in the U.S.

Janelle Pfleiger:

Steve Anderson

Eric Millette

previously thought about getting my CRS because I got my CRB, but as I got to know the organization, I realized it was the one I probably should have gotten first, because CRS education programs are so superior. They’re just wonderful for the REALTOR® and they have this tremendous network across the country, even internationally.

Janelle Pfleiger: What obstacles do you see out there for our industry and for our organizations?

Allen Okamoto: Bill Chee, the first Asian president of the National Association of REALTORS®, gave

this famous speech and referred to ‘the lions coming over the hill.’ He was talking about Microsoft and some of the big computer companies coming in and taking over the real estate industry and almost eliminating the agent through technology. But that’s no longer the case; the internet is helping the agent. While transactions are initiated by the consumer getting on the web, the real estate agent is the actual negotiator and consummator of the transaction.

Allen Chiang: In the next five to 10 years we won’t need you to drive the car to the house. We will have a very comfortable

massaging chair in our offices and you will just go from property to property and the agent will operate a computer for you. So not only is the technology going further, but because of that, agents are criticized for making too much commission, so the consumer starts to put pressure on the commission. So now you may have to lower commission, but find a way to do less work. The younger generation will come out and do that best. They say “knowledge is power,” but now I would say trust is power, and the key factor for the next 10 years. People can do everything on the internet, but they’re

still missing that trust. They have to have that trust in real estate. An 18-yearold kid can operate a virtual tour to show a house, but are you going to a buy a million dollar house through him? Both sides of the transaction need to have that trust that you can’t just find on the internet.

but now I’ve been in the business so long, it’s the people that motivate me.

Allen Chiang: I think CRS is knowledge and AREAA is culture. Put those two together and it’s a formula for trust.

Janelle Pfleiger: What’s the most exciting thing about being a Realtor as well as a CRS or AREAA member today?

Allen Okamoto: Initially when I got into the business the money was the motivating factor, I thought it was a great profession I could make money FA L 2016 SPR I NLG

AREAA GREATER LOS ANGELES PROMOTING SUSTAINABLE HOMEOWNERSHIP in the ASIAN AMERICAN COMMUNITY www.areaagla.org | areaagla@gmail.com | 323-999-1GLA

2016 AREAA GREATER LOS ANGELES LEADERSHIP YOUNG AHN

ESTHER LEE

President

Immediate Past President

2016 Best of AREAA “Best Gala Ev ent” Award 2015 Best of AR EAA “Chapter of th e Year” Award 2015 & 2016 Los Angeles Bu siness Journal “Asian Busine ss Award” Finalist

SONNY PHAM

JAMES

Vice President

HUANG

NANCY

MELISSA KIM

STEVEN LEE

PETER PARK

OBANDO

Co-Treasurer

Project Manager

DIANA JO

MICHAEL JIN

JAMES KIM

MICHELLE

Director

KIM

Vice President / Secretary

Director

MICHELLE

STEPHEN

SARAH LIN

DAVID

KONG

SHIU

Director

SPENCER

Director

KRYSTLE

ANGIE TANG

VAL WONG

TALBOT

Director

PRESIDENTS COUNCIL Charlie Suh, Founding President 2009

Heather Chong, President 2011

Esther Lee, President 2014

Benny Kim, President 2010

Peter Park, President 2012, 2013

Young Ahn, President 2015, 2016

PARTNERS

SILVER

GOLD

With sincere gratitude, we appreciate our corporate sponsors, along with our members, for their continued partnership and support in the growth and success of AREAA Greater Los Angeles to help fulfill our mission and to reach greater heights in our achievements

RIVA luxury condo tower in Fort Lauderdale, Florida

CREATING A LUCRATIVE, BORDERLESS BUSINESS WITH PROXIO, YOUR FREE AREAA MEMBER BENEFIT By John Peretz

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As real estate becomes more global, savvy AREAA members are doing more business with international and multicultural clients. And the ability to create a borderless business and extend your brand is getting easier, thanks to AREAA and Proxio. Ms. Debbie Wong, immediate past president of AREAA’s SF Peninsula Chapter and managing broker of Better Homes and Gardens Real Estate J F Finnegan Realtors, has seen a continual uptick in the number of foreign buyers in her marketplace. “In the 30-plus years that I’ve been practicing real estate, it’s never been more important to have a support team that can market and serve international clients. It’s a big part of our business in the three offices we have.” Many AREAA members will also tell you that international business and higher price points go hand in hand. Non-resident foreign buyers purchased homes with an average cost of $491,427. That’s 84 percent higher than the average for all buyers of existing homes, according to the 2016 Profile of International Activity in U.S.

Residential Real Estate by NAR. In fact, a full 10 percent of foreign buyers bought homes valued at over $1 million. But what’s the best way to market and communicate with these lucrative buyers? The latest Proxio sales platform provides agents, brokers and builders a great way to do that. With Proxio Showcase, AREAA agents and brokers receive a free mobile-friendly website that they can use to connect with and then promote and market new developments and luxury properties locally and globally. AREAA members can easily send beautiful digital marketing materials in six different languages, all branded to them — and, of course, earn commissions and referral fees from their buyers. There are also options to add individual listings to the Proxio Showcase

I tell people all the time, they need to sign up for a Proxio account. Because with Proxio, you’re no longer limited to your own MLS or your own inventory.

– REE COLE NRT

WHAT IS PROXIO SHOWCASE™? Proxio Showcase is a real estate sales platform that creates a faster and more costeffective sales process by creating amazing digital marketing and putting it in the hands of motivated agents worldwide, while tracking activity, interest and leads. LENNAR ON PROXIO DEVELOPER SHOWCASE

platform for a small fee, creating a beautiful, mobile-friendly property website that transcends borders. Some of the most recognized real estate brands use the Proxio sales platform to maximize the exposure and sales velocity of their luxury properties and new developments. In the past several months, Proxio has added Coldwell Banker, Lennar International, Keller Williams, NRT and others to their sales platform. AREAA member Mr. Bill Hunt, who is an international franchise consultant for Keller Williams and is also a co-owner of the Keller Williams master franchise in Costa Rica along with partner Allen Lungo, was one of Proxio’s earliest adapters. “I’ve seen firsthand how Proxio’s translation platform powers cross-border transactions, especially when different languages come into play.

We’ve had instances where Russian, Spanish and English all came into play on the same transaction, and we used Proxio to facilitate that.” And Mr. Hunt should know a thing or two about international real estate, having opened the Indonesian and Chinese markets for Century 21 years ago. Ms. Marjorie (Ree) Cole, who works with NRT in Florida, is also a big fan of Proxio. “I tell people all the time, they need to sign up for a Proxio account. Because with Proxio, you’re no longer limited to your own MLS or your own inventory. The quality of the digital brochures and property information is better on Proxio than on any other digital marketing platform, in my opinion, and it all comes with your branding. “And now being able to add and market new developments without worrying that you’re going to be cut out of the picture with your buyers is really

great. You can register your leads with the developers, and they’re time-stamped within the system. It’s like you’re creating an entirely new income stream.” Mr. Craig Hogan, vice president of luxury for Coldwell Banker, knows the value of both AREAA and Proxio. “Being the 2016 National Luxury Chair for AREAA has been a real honor. This is one of the most focused and hardest-working organizations I’ve ever been associated with. “One of the advantages of being the National Luxury Chair was being able to see a lot of different sales and technology platforms for the luxury market. AREAA provides its members free access to Proxio and I encourage members to take advantage of the beautiful digital marketing materials and emails in a dynamic, multi-lingual format," Mr. Hogan explained.

So, if you’re looking to expand your business in international real estate and also into the luxury market, sign up for your free Proxio account today at www.ProxioWorld.com/AREAA.

AMAZING MARKETING

Proxio converts your text, images and videos into a dynamic digital website for every property, with e-brochures, graphical emails and social links that present your properties beautifully.

GLOBAL REACH

Proxio uses a unique collaboration model that spans the globe and connects over 800,000 agents with more than 3 million listings and thousands of new developments and luxury properties, enabling motivated agents to promote your properties to buyers.

TRANSLATIONS Proxio translates property information into six languages, including Chinese and Japanese, so brokers and agents can serve multicultural and foreign buyers. ANALYTICS

Proxio tracks the marketing activity on your properties through every channel so you have insight into what is happening and who is making it happen.

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CREATING BUSINESS OPPORTUNITIES:

AN AREAA GLOBAL SUCCESS STORY By Daniel Eng

BEING AN AREAA MEMBER HAS SO MANY BENEFITS. ONE OF THEM IS ATTENDING THE TRADE MISSIONS. HERE IS A LITTLE SUCCESS STORY FOR YOU.

It all started in March 2015 when Daniel C. Eng, a board member of the AREAA DFW Chapter, attended the AREAA Hong Kong Trade Mission. During that trade mission, Daniel met Joe Wu, VP of Business Development in Asia for A2A, an international property development and investment group. Upon learning that Daniel is from the Dallas, Fort Worth area, Joe shared with Daniel that A2A has 3 major developments in Daniel’s backyard! With the established connection from the trade mission, Joe set up a meeting between A2A’s CEO Dirk Foo, Joe Wu, EVP of Global Sales Glenn Pickard, COO Joe Attrux, EVP Allan Lind, SVP Marketing and Business Development Matthew Skerry, VP Business Development Michelle van Ruyven, and Daniel with his team, consisting of Calvin Wong, Trang DangLe and Kelley Liu. In May of 2015 both teams

FA L L 2 0 1 6

met to discuss A2A’s projects and explored opportunities where A2A and ENGVEST could partner up to market this unique Property Developer’s Program (PDP) to the entire U.S. After months of due diligence, in Oct 2015, ENGVEST became the Exclusive Master Distributor for A2A’s PDP sales in the U.S. Territory. With this fantastic opportunity, ENGVEST and A2A would like to show AREAA Global their appreciation for the connection, thus ENGVEST approached AREAA Global to collaborate and create a “Win, Win, Win” partnership. AREAA Global also performed a full due diligence on the project and on Feb 8, 2016 at the AREAA Leadership Summit, this partnership became a reality when AREAA Global announced the partnership with ENGVEST, A2A and Serene Country Homes as part of AREAA Global’s for-profit initiative. Everyone involved

are super excited about the partnership, and are working hard to share and market this exclusive opportunity to all AREAA members!

So why Dallas/Fort Worth? Dallas/Fort Worth is not only famous for Dallas Cowboys Cheerleaders, who killed J.R Ewing from the famous Dallas TV show, and delicious BBQ and steaks; it is also the 4th largest Metropolitan area in the U.S. with an average of 400 people moving into the DFW area daily. Large corporate companies are also moving their headquarters and offices to DFW, such as Toyota, State Farm, Facebook, and Amazon to name a few. Dallas/Fort Worth has been very popular in the news media with so much growth. In real

estate, where there are job growths, there are increasing housing needs! A2A, Serene Country Homes, and ENGVEST would like to invite all AREAA members to visit Dallas/Fort Worth to show you some southern hospitality as you tour the Property Developerâ&#x20AC;&#x2122;s Program (PDP) and check out the opportunities for yourself and your clients! This is a new business model, a very innovative business concept with over a billion dollars worth of real estate! Now is the time to take advantage of this hot market where investors could potentially double their investment in 5 years, and AREAA Members, AREAA Global will also earn a referral fee. So book your plane ticket for the 2-days Due Diligence Tour, then A2A and ENGVEST will take care of the rest.

Please contact ENGVEST at A2A@ENGVEST.com or call Daniel Eng at 214-926-3666 to schedule a tour. See you soon in Dallas/Fort Worth!

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Africa Studio / Shutterstock.com

Real Estate Fundamentals

1. CLEAR THE CLUTTER Clear countertops of everything, and I mean everything. You want to show off as much space as possible, and clutter can make a space seem smaller than it really is. So put away trinkets, pictures, etc. (make sure to put them back!) so the space is clean. This also allows a potential buyer to imagine their own trinkets and pictures, and therefore be imagining themselves in the home. Pro-tip: Bring a plastic bin with you to set everything in until after your buyers have left.

2. LET THERE BE LIGHT

STAGING AN OPEN HOUSE

In our continuing segment focused on getting back to basics, we are going to shift our focus now to something that is often overlooked when holding an open house – Staging. Why is it important to stage a home? Not everyone has the ability (as I’m sure most of you do!) to look past the clutter and see your listing for the gem it is. It’s all about helping the potential buyer be able to imagine it as their home as easily as possible. So take a little time to make sure potential buyers can focus on the home.

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Open all curtains and blinds, and turn on all the lights. You want the space to be as bright as possible, as a bright space seems larger and more inviting than a dark one (duh!). So before your open house, or before your client arrives, run through and make sure there’s plenty of light. Pro-tip: If there’s a patio door, open it up too to let the fresh air breeze through!

3. IT’S THE LITTLE THINGS So earlier I said clear the clutter, but that doesn’t necessarily mean everything has to be empty. You’re going for clean and functional, not desolate and uninviting. Make a splash with some colorful pillows and plants that you can put out. You want to use these items to draw eyes to nice spaces and key features. Pro-tip: Pick some scented candles for different spaces of the house – For bathrooms a scent such as lavender or green tea will help create a “clean” smelling space.

4. MAKE IT A HOME So now your home is clean, brightly lit, and has a few nice touches of color and greenery – excellent! Now for the final steps: Bake some cookies so the home smells amazing and makes people (especially kids) want to stick around. Purchase a nice beverage dispenser and make some lemonade or cucumber water for guests (provide plastic cups – nice clear ones, not red solo cups!). Pro-tip: Invest in some cocktail napkins and cups with your information on it. While most will simply toss these away, it will come across as highly professional and your attention to detail will not go unnoticed.

TECH TALK ROB MEHTA

MARKETING to your SPHERE EDITOR’S NOTE: This article is interactive! Go online to areaa.org/f16 to view all the links!

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o let's forget for a minute about all the sexy new marketing programs and tools that are out there (yes, I know. This. Is. Hard), and let's go back to the basics - where we were told to focus our marketing efforts when we first came into this business, but what many of us so easily overlook in our day-to-day business. I’m talking about your Sphere of Influence, or, SOI! Now, before you roll your eyes and flip the page, consider this: NAR has found that most agents have the opportunity to have a very successful relationship-driven business (over 80% satisfaction score at closing), but many agents just can’t seem to drive that back to the bottom line (less than 20% of consumers use the same agent again). So why the discrepancy in numbers? Could it be that many agents just are terrible at keeping in touch? Spending so much time running after clients on Snapchat that they forget about the goldmine that lives in their phone? Might re-activating and re-engaging with our sphere of influence can pay off in rewards that can add significant revenue to our bottom line? I would say, yes, it most certainly could.

A few things I’d like us to focus on when we think about our sphere:

1. Who is in your sphere and who you’re currently “missing”

2. How and Why you’re maintaining all this of this precious data and how relevant it is

3. What frequency, and by which marketing channel, you’re communicating to them.

Who is your Sphere? Maybe it's time to reevaluate who you consider part of your SOI - is your audience limited to your family members, close friends, past clients, and neighbors? If it is, then it's time to sharpen your pencil and get to work, because not having a complete and exhaustive database to market to is your biggest enemy. Have kids? Start by making a list of your children’s friends’ parents, their coaches, teachers at school, their dentists and doctors - after all, your kids are part of your SOI, so their own SOI is an extension of yours. Your stylist, your auto dealer and your board members, church members, your CPA, your attorney, your banker, etc, etc, etc. Do you see where I’m going with this? How about all your Facebook friends that I know you dosn’t consider part of your SOI? Twitter? Instagram? I know you’re using those sites, so why not make

TECH TALK them work for you? Most of us stop at the obvious connections, and often forget about those we interact with daily for other services as a potential marketing database. Remember, these are not only people that you are marketing directly to, but are potentially referring you within their SOI as well, inherently expending your SOI exponentially. Remember that you need to cultivate your sphere, as cliche as that sounds. Much like the garden that it is, if you neglect your sphere you will soon have a mess (technical term). This includes not just adding to it and nurturing it, but also pruning it by removing “dead” contacts from time to time. Do it daily so it becomes second nature and the maintenance is a lot more easier too.

The How and Why Make sure that you have accurate data on each member of your sphere and you keep it all in one place, not scattered throughout your Facebook, Twitter, phone, laptop, and yellow legal pad. Digital marketing thrives on clean, organized data. To use it in a scalable way to have the most impact, every contact needs to “live” in the same place. The more specific you get in terms of keeping your data complete and current, the more likely you are to be able to target your audience with subject matter that resonates with them. Names, numbers and email address are critical, but how about adding some additional fields - physical address, industry, how you know them, when/where you met them or had contact with them last, and other key information.

The What With any marketing activity, you need to make sure that you set a schedule and stick to it. Finding the optimal frequency is crucial to success. Sending an email every week will surely annoy your audience , but limiting marketing to just a few times a year is not good either (they’ll forget you). Strike a happy balance. And, please, make sure you are sending relevant content. Like what? How about real estate information your audience might want ? Or interesting events happening in your market area? No recipes please. Likewise, reaching some of those millennials that we know live on social media, requires a whole new level of frequency, is it once a day, once every few days?

with

ROB MEHTA

How about staying with them online, all the time? Social media tools have made reaching your SOI all the more easy, but focusing on quality content is key. By creating a posting schedule ahead of time, you are committing yourself to consistency in interacting with your sphere, whether it's via Twitter, Facebook, or yes, Snapchat. Allocating time, ahead of time, will remind you to create good content that delivers value to your SOI, and it should be packed with actionable information that solves a need and shows that you care about your audience. And don’t forget, you need to maintain a balance of content vs. self-promotion. There really is a 90/10 rule in play here. 90% of your content should be helpful/entertaining/fun. The remaining 10% can be self-promotional. Don’t cross the streams. And bear in mind, in whatever marketing you do, it is always worth taking a step back and reviewing your results. You need to ensure that you’re constantly monitoring and measuring the success of your marketing. There are a number of tools that can effectively assist you in monitoring click rates and time spent on content - use them. Want to know some of the tools we use? Have a look at our previous columns here. Take time to review the open rates of emails, what’s clicked within an email, and what type of content is producing results. It might be the case that emails and posts made on Sundays get largely ignored, while emails or posts made on Tuesday mornings produce more results. Monitoring data like this and adapting your marketing toward these results gives you the additional leverage to reach your SOI more effectively. By the way, automating these tasks is really the way to go. But that’s for a future column.

THE 90/10 RULE for

MARKETING CONTENT

90%

HELPFUL/ENTERTAINING/FUN

10%

SELF-PROMOTIONAL

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, Chair of NAR’s Young Professionals. Network and a member of AREAA’s Inaugural "A-List" www.robmehtapartners.com

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Q&A

ON MAY 21ST of this year SVN President and CEO Kevin Maggiacomo spoke on

“Creating Shared Value in Commercial Real Estate” at the AREAA Commercial Forum during ICSC RECon 2016. During his talk Maggiacomo discussed SVN’s Shared Value Network, a belief that commercial brokers can both elevate returns and society by creating value for all. This topic hit a nerve with attendees and sparked a lively Q&A session after the presentation. We thought we would catch back up with Maggiacomo to delve further into this ideal of community value creation.

For more information on SVN’s Shared Value Network and how you can be involved, visit www.svn.com.

Can you provide more color on the Shared Value Network that you implemented at SVN? The CRE industry is often self-serving. As a company, SVN wanted to rebel against this mentality. We believe that proactively cooperating and collaborating with the global commercial real estate community is the right thing to do for our clients and one that ultimately creates value for stakeholders: brokers, investors and the community. Last year, to more accurately align with our stakeholders and brand pillars — open, inclusive and innovative — we developed the concept of a Shared Value Network, a belief that together with the entire CRE ecosystem, we can both elevate returns and society by creating value for all. Traditionally, CRE brokerage has been effectively a closed network. This means that the industry is missing out on a lot of talent. It also means that women and minorities are missing out on employment opportunities that are potentially lucrative, yet also flexible and community-based. I truly believe diversity and gender balance are the engines of innovation and drivers of value, that’s why an integral part of our Shared Value Network is providing industry opportunities to women and other underrepresented professionals.

How has SVN incorporated gender balance and diversity within its own platform? From executive leadership to support staff, at SVN we place a very strong emphasis on building diverse and balanced teams. This shift was put into action many years ago in 2012 when I had a wake-up call and made it my mission to gender-balance the SVN leadership team. Today SVN has a restructured executive team with nearly equal numbers of female and male professionals. In addition, last year we updated parental leave plans to be more inclusive and this year SVN released its Millennial Report, underscoring how important diversity is to attracting CRE talent. SVN also actively participates in industry outreach programs. Promoting the advantage of gender diversity in leadership, we co-founded 5050x2020, a grass roots movement to gender-balanced leadership in all organizations worldwide by the year 2020. SVN also supports Project REAP, which provides us with access to diverse and accomplished CRE talent.

What about outside of corporate headquarters? What sort of adoption are you seeing from SVN franchisees?

FIND OUT MORE ABOUT THE 5050¬2020 AND PROJECT REAP PROGRAMS: 5050x2020.org projectreap.org

You know it has been a really amazing thing to experience. Since we launched the Shared Value Network in 2015, 40% of all new SVN franchises have been minority or women-owned. By comparison, in 2004 98% of SVN franchise owners were male. Since then SVN has increased the number of women and minority owners by over 1000% percent.

What is a way for those outside SVN to be involved? The Shared Value Network has empowered many within our platform to go after their own diversity-driven goals. Most recently a few women leaders in our organization formed the Women CRE Forum on LinkedIn. This group is open to all within the industry and serves as a dedicated platform providing education and mentorship to new and established female commercial real estate professionals with the goal of increasing and strengthening much needed female leadership in the real estate industry. FA L L 2 0 1 6

BUILDING a BUILDER PIPELINE of BUSINESS By Dottie Sheppick

ccording to the National Association of Home Builders the annual rate of new home sales in July of 2016 is 654,000, which is almost 12% of the annual rate of existing homes. In this market, real estate agents may want to develop relationships with builders to ensure a healthy pipeline of business.

One way of developing that relationship is to understand the builder’s concerns and in most high density areas, the builder is going to be subjected to inclusionary zoning. A real estate professional and a loan officer partner who can demonstrate knowledge of inclusionary zoning will be able to create a lucrative niche.

Inclusionary zoning is used by housing departments to provide home ownership for families whose income is below the median. In high cost areas, the workforce cannot afford a median priced home and it becomes difficult to attract and retain the personnel needed to work in restaurants, hotels and hospitals. For example, with a salary of $60,000 in San Francisco, a buyer would not qualify for the median priced two bedroom home at almost $1.25 million.* To buy an affordable home, it will be an excruciating commuting distance from where they work. To support local business, reduce traffic and increase home ownership, many housing agencies require the builder set aside a percentage of homes to sell at a price below market. The percentage can vary, but commonly 10% - 30%. If a builder wants to build 200 homes and the inclusionary

zoning requirement is 20%, the builder will have to sell 40 of the 200 homes at a below market price. In the example above, while most of this builder’s homes sell at $1.25 million, there will be 40 homes for sale at a much lower price. The buyer of those lower priced homes will have to meet certain income limits. For example, the housing department could determine the eligible income for the buyer should be at 60% of median. Per Freddie Mac, the median income for San Francisco County is $98,800 and 60% is $60,000 a year in salary, allowing our example home buyer to buy a $350,000 home in the $1.25 million development The homes are not substantially different from others in the development in look and design. However, the lower priced homes will be subjected to a deed restriction. The deed restriction will set the sales price for the first home buyer and each subsequent buyer to keep the home in the affordable inventory. In addition, the home owner of the lower priced home will not be able to take advantage of market equity growth. The deed restriction will set a future sales price based on a set equity gain, not the market gain. There are lots of views on inclusionary zoning, but once mandated, the builder must abide by the restrictions that are imposed. Learn about inclusionary zoning in your area. Meet with builders and let them know you and your lending partner can sell the market rate units AND the deed restricted units. You will have made a great partner and ensured a pipeline of business.

*Source: Trulia 8/25/16

Dottie Sheppick is a founding partner of Specialty Mortgage Product Solutions, LLC (SMPS.) SMPS serves lenders and others focused on affordable, builder, first time homebuyer, CRA and other niche products. Dottie spent 27 years in the niche lending business with her last corporate position as Bank of America’s Senior Vice President, Affordable Housing Executive. Prior to that she was Director of Housing Impact in Fannie Mae’s Western Regional Office. Dottie is well known for her entrepreneurial approach to develop products and programs that meet client’s needs.

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Jorge Gera

CRAIG HOGAN 28

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10 QUESTIONS

with

CRAIG HOGAN

1. When and why did you get involved with AREAA?

6. Do you have any funny or odd stories from your time as a luxury agent?

My company is a major sponsor and my interest began when I attended my first event. The Global and Luxury Summit held in Chicago was the clincher for me.

After 20 years I’ve seen quite a bit. A buyer who went over budget $1M for a terrace was my most recent experience, but I’ve also seen “improvements” (or so they thought) added to homes that were just so flawed. Let’s just say it’s always best to ask a pro first.

2. As the VP of Luxury for Coldwell Banker, you have your finger on the pulse of the nation’s luxury market, what are some of the biggest trends you are seeing? No doubt that Smart Home technology is the new normal. Buyers expect it and builders are delivering. The secondary market is now stepping up as well. In luxury you should be able to turn your home on and off with an app. Excellence in design and finish is also the new norm. Low end finishes and poor design are all but gone and it’s about time.

3. What is some advice you could give to an agent who is trying to break into the luxury sector of their market? Stay the student, do the work and become an expert. It does not come easy and it’s a tough field to excel in. It’s uber competitive and you must have highly honed skills and deliver every time. And don’t expect to dominate the luxury market without a plan and a budget to fund it.

4. What is a common misconception about serving the luxury market? That they are totally different from the rest of us is a common one. 80% of the wealthy consider themselves middle class at heart. They do however expect more and demand service at a much higher level - but this that shouldn’t be an issue if you’re a professional. I always think of it as a Ritz-Carlton level of service with FedEx efficiency.

5. What is something that no one is talking about right now in real estate, but should be?

7. What is something you absolutely cannot leave the house without and why? I collect watches and writing pens and always love to have them with me. I never look at my watch but it’s so very important to me to have on. And I love to pull my own cartridge pen to sign anything.

8. What’s something that most people probably don’t know about you? That I was the first man in the history of the Mary Kay company to win a pink Cadillac. What an experience.

9. Read any good books lately? Have a recommendation? Indeed. Four Seasons The Story of a Business Philosophy by Isadore Sharp is an exceptional read.

10. Favorites time – Who/What is your favorite: 1) Movie/TV Show; 2) Sports team; 3) Influential Person I’m not a huge fan of TV, just a bit of a news junkie and movie buff. Anything Start Trek, X-Men or Transformers (don’t laugh) I love. But also anything foreign. And I’m a complete Anglophile so anything British especially comedy. No sports for me as I’m more the fine antiques auction circuit.

I WAS THE FIRST MAN IN THE HISTORY OF THE MARY KAY COMPANY TO WIN A PINK CADILLAC. WHAT AN EXPERIENCE.

The cooling of the luxury market in many sectors is unavoidable and that’s alright. We have market resets from time to time and the professionals stay out front.

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Grow Your Business Into An A-List Business

More Connections. More Closings. See the Results at BoomTownROI.com

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 2015 production, the 2016 "A" List is comprised of the top 50 applicants in each of the two categories: SALES VOLUME and TRANSACTION SIDES. This year, for the very first time, we are also including a separate Team category.

TOP SALES PROFESSIONALS

BY 2015 INDIVIDUAL VOLUME

BY 2015 INDIVIDUAL SIDES

TERE FOSTER

AV EN U E PRO PERT I ES T E A M FOS T ER

$188,055,749

ESSEX- HARVEY

CO L DW EL L BA N K ER T H E H A RV E Y G RO U P, I N C.

$129,171,578

K EL L ER W I L L I A M S R E A LT Y

$116,121,211

Encino, California

RYA N H I L L RE A LT Y, L LC

Naperville, Illinois 296 sides

CLIFFORD ROE

Beverly Hills, California

STEPHANIE VITACCO

Bellevue, Washington

JOYCE

TERESA RYAN

RO E R E A LT Y

Seminole, Florida 279 sides

DON PIN GARO

O C E A N I N S I D ERS L LC

Davie, Florida 259 sides

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TOP SALES PROFESSIONALS

BY 2015 INDIVIDUAL VOLUME

BY 2015 INDIVIDUAL SIDES

P H IL CH EN

SY BA R I T E I N V ES TM EN T S

Burlingame, California

$105,758,116

C L I M B R E A L ES TAT E G RO U P

San Francisco, California

C H A R LUXU RY R E A L ES TAT E

Las Vegas, Nevada

CO L DW E L L BA N K E R I S L A N D P RO P E RT I ES | M AU I

$59,594,500

K EL L ER W I L L I A M S R E A LT Y

Cupertino, California

C E RV E R A R E A L ES TAT E

Miami, Florida

C H R I S T I E'S I N T ER N AT I O N A L R E A L ES TAT E | S T R A N D H I L L P RO P E RT I ES

$56,398,400

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K EL L ER W I L L I A M S R E A LT Y

Rancho Palos Verdes, California

Encino, California

CLI FFORD PONTE

C EN T U RY 21 A S S O C I AT ES

144 sides

LILY LIAN G

Rochester, New York

STEPHANI E VITACCO

$56,432,300

ES TAT E | P RO S P ER I T Y

183 sides

J OH N R E ZA PARSIAN I

B E T T E R H O M ES A N D GA R D EN S R E A L

190 sides

$58,035,262

Oklahoma City, Oklahoma

DANI ELLE RI LEY

Maui, Hawaii

C OC O TAN

S T R ATO S R E A LT Y G RO U P L LC

198 sides

DAM IE N Z ANO LI NI

Wethersfield, Connecticut

KATRI NA WASH I N GTON

$61,193,000

N U TM E G P RO P ERT I ES

226 sides

R ANDALL CHAR

Bloomingdale, Illinois

JONATHAN GI N EO

$76,864,000

P U B L I X R E A LT Y

248 sides

M A RC US LEE

SUNDEEP " SUN N Y " L A M BA

Fall River, Massachusetts

COYA SM ITH

S M I T H PA RT N E RS & A S S O C I AT ES

144 sides

Downers Grove, Illinois

c o n t i n u e d

TOP SALES PROFESSIONALS BY 2015 INDIVIDUAL VOLUME RANK

NAME

COMPANY

LOCATION

2015 VOLUME

Susan Greenfield

Christie's International Real Estate | Brown Harris Stevens

New York, New York

$50,440,000

Tracy Allen

Coldwell Banker | Pacific Properties

Honolulu, Hawaii

$44,856,680

James Bineau

Coldwell Banker | Mason Morse

Aspen, Colorado

$42,714,229

Joel Schemmel

Sotheby's International Realty | Premiere

Sarasota, Florida

$42,554,975

Rama Mehra

Keller Williams Realty

Danville, California

$40,523,120

Carol Reen

Coldwell Banker

San Francisco, California

$39,536,750

Stephen Haw

RE/MAX Estate Properties

Palos Verdes Peninsula, California

$39,150,875

David DeSantis

Sotheby's International Realty | TTR

Washington, DC

$39,018,139

Ryan Hill Realty, LLC

Naperville, Illinois

$37,999,526

Teresa Ryan

Sundeep "Sunny" Lamba Publix Realty

Bloomingdale, Illinois

$36,111,801

Nathan Nunes

Better Homes and Gardens Real Estate | JF Finnegan

San Mateo, California

$34,548,888

Cliff Roe

Roe Realty

Seminole, Florida

$34,164,582

Johnny Wong

Century 21 Masters

Walnut, California

$33,607,827

Joe Liu

Keller Willams Realty | The Liu Group

Portland, Oregon

$33,145,902

Dawn Thomas

Sotheby's International Realty

Palo Alto, California

$32,552,000

Janice Lee

Coldwell Banker

San Francisco, California

$30,515,750

George Chao

Coldwell Banker Commercial NRT

San Francisco, California

$30,052,500

Peter Wardhana

RE/MAX Accord

Castro Valley, California

$28,950,300

Jessica Ye

Keller Williams Realty

Cambridge, Massachusetts

$28,537,250

Randi Brazen

Sotheby's International Realty | Brazen

Bellevue, Washington

$27,257,500

TOP SALES PROFESSIONALS BY 2015 INDIVIDUAL SIDES RANK

NAME

COMPANY

LOCATION

James Starwalt

Better Homes and Gardens Real Estate | Star Homes

Grayslake, Illinois

2015 SIDES 136

Joyce Essex-Harvey

Coldwell Banker | The Harvey Group, Inc

Beverly Hills, California

130

13t

Jillian Batchelor

Realty One Group

Las Vegas, Nevada

104

13t

Joe Liu

Keller Williams Realty | The Liu Group

Portland, Oregon

104

Victoria Silvano

Century21 SGR

Chicago, Illinois

100

Sabriya Scott

Scott Realty Professionals

Savannah, Georgia

Tuan Nguyen

AMX Realty

Plano, Texas

Susan Kliesen

RE/MAX Center

Grayson, Georgia

Gregorio Cirone

Interdome Realty

Elmwood Park, Illinois

82 80

Jennifer Fredericks

Better Homes and Gardens Real Estate | Preferred Living

Houston, Texas

21t

Brandy Nelson

Point Home Realty/PHR Commercial

Palm Desert, California

21t

John Reza Parsiani

Cervera Real Estate

Miami, Florida

Tere Foster

Avenue Properties | Team Foster

Bellevue, Washington

Stephany Oliveros

Keller Williams Preferred Realty

Chicago, Illinois

25t

Josie Lin

RE/MAX United

Houston, Texas

25t

Jessica Ye

Keller Williams Realty

Cambridge, Massachusetts

Donna Reid

Coldwell Banker

Miami, Florida

LuAnn Shikasho

Keller Williams Realty

Elk Grove, California

Huong "Hanna" Dam Coldwell Banker Premier Realty

Las Vegas, Nevada

Marcus Lee

San Francisco, California

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Climb Real Estate Group

c o n t i n u e d

PORTLAND, OR HAS SOMETHING FOR EVERYONE • Abundant job opportunities, especially in

• Location, Location, Location

Rapidly growing city with easy access to rivers, the Oregon coast, mountains, waterfalls, and forests

tech, medical, financial, and hospitality industries

• Great school options

• Highly developed food culture

from preschool to graduate school

A plethora of craft foods and beverages

• Abundant city amenities

• Arts culture

parks, public transportation, etc

visual, performing, and music

• Mild weather

• Bikeable city • Tons of community events and festivals

• No sales tax

Alexander Phan formed the Phan Hall Property Group in 2010 with the mission to become the Portland area’s most valuable real estate resource. With over 41 years of cumulative real estate experience, our team has closed over 134.5 million in sales. We have resources to serve clients who speak Vietnamese, Mandarin, Korean, Japanese, and Hindi. Alexander Phan, Licensed Principal Broker in OR, AREAA Chapter Founding Board Member and two-time Chapter President. 503-336-6152 info@phanhall.com www.PhanHall.com We will honor a 25% referral fee for any of your clients who are buying, selling, or investing in Oregon and Washington.

Each office is independently owned and operated.

TOP SALES PROFESSIONALS BY 2015 INDIVIDUAL VOLUME RANK

NAME

COMPANY

LOCATION

Steve Hayashi

Coldwell Banker

Arcadia, California

2014 VOLUME $25,736,500

Tina Mak

Coldwell Banker

Burnaby, British Columbia

$25,688,000

Clifford Ponte

Century 21 Real Estate

Fall River, Massachusetts

$25,205,714

Christi Clark

Coldwell Banker | Bain

Bellevue, Washington

$24,032,223

Jillian Batchelor

Realty One Group

Las Vegas, Nevada

$24,000,000

Bob Hansen

Island Sotheby's Realty | Maui Luxury Real Estate LLC

Kihei, Hawaii

$23,463,150

Jack Tyrrell

Jack Tyrrell & Company Inc.

Honolulu, Hawaii

$23,359,000

Moira Holden

Better Homes and Gardens Real Estate | Gary Green

Spring, Texas

$23,204,426

Coya Smith

Smith Partners & Associates

Downers Grove, Illinois

$23,121,302

Lina Shah

Coldwell Banker Residential Brokerage

Oak Brook, Illinois

$22,819,500

Vinny MaNguyen

ERA | Michael James Real Estate

Oakland, California

$22,686,097

Lota de Castro

Paragon Real Estate Group

San Francisco, California

$22,572,500

John Eric

Sotheby's International Realty | TTR

Washington, DC

$22,123,750

James Starwalt

Better Homes and Gardens Real Estate | Star Homes

Grayslake, Illinois

$22,000,000

Jonathan Gineo

Nutmeg Property Group

Wethersfield, Connecticut

$21,847,146 $21,261,000

LuAnn Shikasho

Keller Williams Realty

Elk Grove, California

Becky Gray

Sotheby's International Realty | Realogics

Medina, Washington

$20,750,713

Lynda Gann

Berkshire Hathaway HomeServices | Drysdale Properties

Danville, California

$20,444,940

Kenny Truong

Climb Real Estate

Oakland, California

$20,442,000

Gregorio Cirone

Interdome Realty

Elmwood Park, Illinois

$20,002,931

TOP SALES PROFESSIONALS BY 2015 INDIVIDUAL SIDES RANK 31

NAME

COMPANY

LOCATION

Tony Ngo

Real Estate Performance Group

Clackamas, Oregon

2014 SIDES 54

Tasha Soundara

RE/MAX Results

Minneapolis, Minnesota

33t

Tram Chu

West USA Realty

Peoria, Arizona

33t

Li Huong Lanz

John L Scott Real Estate

West Linn, Oregon

33t

Vinny MaNguyen

ERA | Michael James Real Estate

Oakland, California

33t

Kenny Truong

Climb Real Estate

Oakland, California

37t

Will Freeman

Better Homes and Gardens Real Estate | The Beach Company Mount Pleasant, South Carolina

37t

Moira Holden

Better Homes and Gardens Real Estate | Gary Greene

Spring, Texas

Brad Carlson

Better Homes and Gardens Real Estate | Gary Greene

Spring, Texas

Danny Leung

Century 21 Redwood Realty

Alexandria, Virginia

41t

Christi Borden

Better Homes and Gardens Real Estate | Gary Greene

Spring, Texas

41t

Linda Lee

Keller Williams San Diego Metro

San Diego, California

43t

Joseph Carvalho

VICTORIA Realty

New Bedford, Massachusetts

43t

Fran Reali

Better Homes and Gardens Real Estate | Safari

Staten Island, New York

43t

Joel Schemmel

Sotheby's International Realty - Premiere

Sarasota, Florida

45t

Randall Char

Char Luxury Real Estate

Las Vegas, Nevada

45t

Barbara Han

RE/MAX Distinguished Homes and Properties

Bronxville, New York

45t

Lina Shah

Coldwell Banker Residential Brokerage

Oak Brook, Illinois

45t

Kathy Xu

RE/MAX Realty Group

North Potomac, Maryland

Christina Shaw

Berkshire Hathaway HomeServices

Newport Beach, California

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TOP SALES PROFESSIONALS

BY 2015 TEAM VOLUME

BY 2015 TEAM SIDES

RAQUEL QU INET

K EL L ER W I L L I A M S R E A LT Y T H E FI V E D O O RS T E A M

$219,440,872

DOAN

R E A LT Y G RO U P, I N C.

$114,861,572

Minneapolis, Minnesota

TONY J OE

R E/M A X C A M OSU N OA K BAY

$83,934,800

Goodyear, Arizona

LONG

Victoria, British Columbia

RAQUEL QU INET K EL L ER W I L L I A M S R E A LT Y T H E FI V E D O O RS T E A M

792 sides

Goodyear, Arizona

LONG DOAN

R E A LT Y G RO U P, I N C.

607 sides

Minneapolis, Minnesota

AMY KITE

KELLER WI LLIA MS RE ALT Y I N FI N IT Y | TH E KITE TE A M

478 sides

Naperville, Illinois

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TOP SALES PROFESSIONALS

BY 2015 TEAM VOLUME

BY 2015 TEAM SIDES

KAR E N BALDWI N

B E R KS H I R E H AT H AWAY H O M E S E RV I C ES | A R I ZO N A P RO P E RT I ES

$78,187,525

R E/M A X P R ES T I G E H O U S TO N N E W H O M E T E A M

$76,613,720

K E L L E R W I L L I A M S R E A LT Y I N FI N I T Y THE KITE TEAM

$75,000,000

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

$73,222,699

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

$65,741,219

Las Vegas, Nevada

DANO SAYLES

R E/M A X L I FES T Y L E

$63,452,570

Kihei, Hawaii

AM Y LI PPI N COT T

B E T T E R H O M ES A N D GA R D EN S R E A L ES TAT E | GA RY G R E EN E

$51,020,413

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Spring, Texas

AMY LI PPI N COT T B E T T E R H O M ES A N D GA R D EN S R E A L ES TAT E | GA RY G R EEN E

172 sides

Spring, Texas

JOE SAUTER

J O E SAU T E R R E A LT Y

141 sides

Lake Worth, Florida

Z AR Z AN GAN EH

La Jolla, California

ZA R Z AN GAN EH

Houston, Texas

Naperville, Illinois

P E T E M I D D LETON

R E/M A X P R ES T I G E H O U S TO N N E W H O M E T E A M

441 sides

Houston, Texas

AM Y KITE

Carefree, Arizona

LIS A VO

LI SA VO

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

135 sides

Las Vegas, Nevada

NORMA N FREN K

B E T T E R H O M ES A N D GA R D EN S R E A L ES TAT E | GA RY G R EEN E

118 sides

Spring, Texas

TOMMY CH O I

W E I N B E RG C H O I R E A LT Y

111 sides

Chicago, Illinois

LAURA SO RI D E

R E/M A X A FFI L I AT ES

93 sides

Coralville, Iowa

Wells Fargo Funding

A relationship

focused on

YOU

You can feel confident working with

With over 25 years of leadership in the correspondent lending business, you can rely on us to provide:

a dedicated team

• Collaborative support from some of the most experienced and highly respected professionals in the industry

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Go to: wellsfargofunding.com or call: 1-800-328-5074 (option 4)

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. © 2016 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801. AS2584779 Expires 11/2016

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 2015 production, the 2016 "A" List is comprised of the top 20 applicants in each of the two categories: VOLUME and UNITS FUNDED.

TOP MORTGAGE LOAN ORIGINATORS

BY 2015 VOLUME

BY 2015 UNITS FUNDED

HSBC

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

Los Angeles, California

Dallas, Texas

$105 MILLION

324 UNITS

PROS PEC T M O RTGAG E

B LU ES TA R M O RTGAG E, I N C

Bayside, New York

Chicago, Illinois

$86 MILLION

285 UNITS

LUXU RY M O RTGAG E

G UA R D I A N M O RTGAG E CO M PA NY

NEWTON, MASSACHUSETTS

R I C H A R DS O N, TE X A S

$63.3 MILLION

235 UNITS

M I C H E L L E KI M

K E N CHEUN G

D I C K LEE

FA L L 2 0 1 6

K H A I N GUYEN

TRISHUL VAGHANI

G R A C E MORROW

TOP MORTGAGE LOAN ORIGINATORS

BY 2015 VOLUME Rank

2015 Volume

Name

Company

Location

KHUE DANG

Union Bank

Bellevue, Washington

$ 61.5

ACE WATANASUPARP

Citizens Bank

New York, New York

$ 59

GRACIE MORROW

Guardian Mortgage Company

Richardson, Texas

KAREN CHIU

New American Funding

Pasadena, California

in Millions

$ 57.2

$ 52

TOP MORTGAGE LOAN ORIGINATORS

BY 2015 UNITS FUNDED Rank

2015 Units Funded

Name

Company

Location

KEN CHEUNG

Prospect Mortgage

Bayside, New York

234

DICK LEE

Luxury Mortgage

Newton, Massachusetts

187

MIKE PARK

Wells Fargo

Blaine, Minnesota

176

JOSHUA NIEVES

Residential Mortgage Services

Las Vegas, Nevada

154

c o n t i n u e d FA L L 2 0 1 6

TOP MORTGAGE LOAN ORIGINATORS

BY 2015 VOLUME Rank

2015 Volume

Name

Company

Location

KHAI NGUYEN

Absolute Mortgage & Lending

Dallas, Texas

$ 51.4

TRISH VAGHANI

Bluestar Mortgage, Inc

Chicago, Illinois

$ 41.0

GEOFFREY NGUYEN

HomeStreet Bank

Brea, California

$ 40.2

NIKITAS KOUIMANIS

United Northern Mortgage Bankers

Levittown, New York

$ 40.1

RICHARD WANG

The Loan Story

Santa Clara, California

$ 39.3

LOANN LE

Bank of America

Mercer Island, Washington

$ 39.0

GRACE BYUN

Flagstar

Columbia, Maryland

$ 35.7

AMY LEE

HomeStreet Bank

Pasadena, California

$ 33.7

EDWARD HAN

Wells Fargo

McLean, Virginia

$ 33.3

JOSHUA NIEVES

Residential Mortgage Services

Las Vegas, Nevada

$ 32.0

NIRMALYA MODAK

Wells Fargo

San Jose, California

$ 31.8

JOICE CHANG

Chase

Irvine, California

$ 30.7

ADAM SKLAR

Chase

Torrance, California

$ 30.0

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in Millions

TOP MORTGAGE LOAN ORIGINATORS

BY 2015 UNITS FUNDED Rank

Name

Company

Location

2015 Units Funded

LOANN LE

Bank of America

Mercer Island, Washington

140

KAREN CHIU

New American Funding

Pasadena, California

139

MICHELLE KIM

HSBC

Los Angeles, California

111

JAMES CHEN

Citizen's Bank

New York, New York

110

NIKITAS KOUIMANIS

United Northern Mortgage Bankers

Levittown, New York

109

GRACE BYUN

Flagstar

Columbia, Maryland

109

CHIEN MONTERO

Wells Fargo

Clackamas, Oregon

109

KHUE DANG

Union Bank

Bellevue, Washington

108

GEOFFREY NGUYEN

HomeStreet

Brea, California

108

JAIME WAMBACH

American Mortgage & Equity Consultants

Coon Rapids, Minnesota

JOICE CHANG

Chase

Irvine, California

PATRICK LY

Flagstar

Reston, Virginia

RICHARD WANG

The Loan Story

Santa Clara, California

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REACHING

NEW HEIGHTS www.areaaglobal.com

With the right set of tools, preparation, and dedication, anything is possible. Whether you are looking to promote your listings or projects to investors across the world, or you are seeking to find a potential home for your investment capital – AREAA Global can help. Our global network of real estate professionals and advisors ensures that we have someone with the local market knowledge you need to find the right investment opportunity. Don’t leave your investment goals hanging off the edge of a cliff – leverage our assets and take your business to new heights.

Wholly Owned by the Asian Real Estate Association of America (AREAA) 100% of Profits are Reinvested in AREAA National CA BRE 01938588

Team Tom Truong Serving Boston's BEST SCHOOLS Certified Residential Specialist

Tom Truong | CRS, SRES, Realtor 617.312.0838 tom.truong@carringtonres.com www.TruongE.com Kevin Harris

Marissa Truong Jason Zhang

Experienced Real Estate Advisers

2016 LEADERSHIP

2017 LEADERSHIP

MONY NOP 2016 President Keller Wlliams

VINNY MANGUYEN Founder, 2012 & 2013 President Michael James Real Estate

DENISE MANGUYEN 2015 President Michael James Real Estate ELLEN OSMUNDSON 2014 President KENNETH ER 2016 Vice President Sotheby’s Venture

L A U R A TA N G 2017 President Formality Real Estate

2017 ARE AA GRE ATE R E A S T B AY

I N S TA LLATION

L A U R A TA N G 2016 Treasurer Formality Real Estate

J A N I L L E C H AV E Z 2017 Event Chair Stearns

PA U L W O N G 2016 Event Chair Urban One Realty

A N A PA C H E C O 2016 Membership Chair Keller Williams BOB HENRY 2016 Technology Chair Diversified Mortgage PIA BURTON 2016 Marketing Chair Michael James Real Estate

A R E A A G R E AT E R E A S T B AY A N N U A L S P O NS O R S

G A R R I C K YA N 2017 Treasurer California Pacific Brokers

ELENA WU OLZMANN 2017 Secretar y Celestrial Investment, Inc.

DINH TRUONG 2016 Secretar y Tru Realty

PA U L W O N G 2016 Event Co-Chair First American

PA U L W O N G 2017 Vice President Urban One Realty

F R I D AY DE C.

9 ,

2 0 1 6

S C O T T ’ S S E A F O O D J A C K L O N D O N S Q U A R E 2 B R O A D WAY O A K L A N D , C A 9 4 6 0 7

R E GI ST E R T O D AY areaa.org/eastbay

JUSTIN WONG 2017 Event Co-Chair SVN Commercial Real Estate Advisors A N A PA C H E C O 2017 Membership Chair Keller Williams

PIA BURTON 2017 Marketing Chair Michael James Real Estate

DINH TRUONG 2017 Director Tru Realty

San Fernando Valley / Santa Clarita Chapter AREAA has experienced unparalleled growth to become the Preeminent Real Estate force in the Asian American Community in the United States and beyond.

___________________________________________ AREAA SFVSC Chapter Board of Directors ~ Connect with us!

Winnie Davis President

Em Roberts Vice President/Secretary

Liliana Alfonso Vice President

Jojo De Guia Treasurer

Buddie Krugh Membership Chair

Mario U Velarde Director

Scott Akerley Director

Ike Barcarse Director

Judy Ann Von Arb Director

Thank you to our Generous Annual Sponsors

Q&A

Sue Yannaccone and Angie Lee

TAKING CHARGE – WOMEN in LEADERSHIP

2016 AREAA National President Angie Lee sits down with the new President and CEO of ERA Franchise Systems LLC Sue Yannaconne in an exclusive a | r | e interview. Angie: Congratulations on your new role at ERA Real Estate. It’s great to see a woman at the helm – can you tell me about your career path? Sue: Interestingly, I can trace my career path back to my childhood: we moved five times before I turned 10 and that really fostered an interest in real estate and the impact it had on families. After a brief stint in commercial real estate, I found my passion on the residential side. I’ve held a number of different positions with many different brands so I have a broad and deep knowledge of real estate industry. I also have a strong background in service which aligns perfectly with ERA’s customer-first philosophy. Angie: We very much appreciate your sup48

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port of the EDGE over the years. Why is that important to you? Sue:

We are very aware that shifting demographics are having a profound impact on the shaping of our industry. The average age of a real estate agent is 58 and as people start to retire and leave the industry, we could be faced with a leadership vacuum. That’s why at ERA Real Estate, we are also very focused on building our leadership bench and it’s part of the reason why we support AREAA’s young leaders through our sponsorship of the EDGE. We have a Young Leaders Network, a formalized networking and idea-sharing group that focuses on preparing the next generation of leaders. One of our professional development offerings is a year-long “Master Class” on running a real estate brokerage that is focused on new and emerging broker/owners to help them

take their business to the next level. At a strategic level, our focus on leadership development means we will be leading the transformation of the industry.

Angie: Looking ahead, what other forces do you see shaping our industry? Sue: Clearly technology is playing a major role in how we connect with consumers today. At ERA Real Estate, we have a relentless focus on innovation and we are always scanning the horizon for ways to keep our brokers and agents competitive and aligned with emerging technology.

Angie: A lot of my experience has been working with companies to

Be authentic. Be fearless. Be accountable. bring them to the next level and helping them compete in a broader market, something I know you have a lot of experience with. What are your plans for ERA?

the way we connect with consumers to fuel business. And with our customer first approach and strong focus on leadership development, we will take the brand to the next level and be positioned for the next generation of this industry.

Sue: We’re going to capitalize on our brand’s incredible momentum and increase ERA’s visibility across the country by adding companies, agents and yard signs. We will leverage our best in class learning development platform to fuel productivity. As I mentioned earlier, we will continue our relentless focus on innovation and transform

Angie: What advice would you offer to today’s real estate professionals? Sue: Be authentic. Be fearless. Be accountable. And in the words of Mia Hamm, “Celebrate success, but raise the bar a little higher each time.”

Angie: On a personal note, if you could live anywhere, where would it be and why? Sue: Believe it or not I would likely stay in New Jersey (boring I know). All my family is here and I wouldn’t want to be far from them. That being said, it would be in a magnificent place ‘down the shore’ as we say, on the water! Now….if it weren’t for that family, you would likely find me in Turks & Caicos also in a magnificent place on the water.

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Red Rock Canyon National Conservation Area, located just west of Las Vegas

8 Things You Should Know

one

two

The Great Green Valley

Wagons, West!

Las Vegas got its name in 1829, by the Mexican scout Raphael Rivera, who was part of a large trading party traveling to Los Angeles. “Las Vegas” translates to “The Meadows” in Spanish, and was named for the lush green landscape that formed around the numerous artesian wells in the valley.

Sunset over the Strip 50

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In 1844, John C. Fremont was appointed by President John Tyler to head Westward in preparation for a war with Mexico. Upon entering the Las Vegas Valley, Fremont established a fort that would later be used by frontiersmen and travelers heading west though it was never permanently settled.

three

four

Let's Make it Official

If You Build It, They Will Come

Las Vegas officially became a city in May 15th, 1905, shortly after the completion of the San Pedro, Los Angeles, & Salt Lake City Railroad. The city’s creation was the driving force behind the formation of Clark County, NV (which was named for US Senator Williams Andrews Clark – who was the majority owner of the railroad).

In 1930, work on what would become the Hoover Dam (originally named the Boulder Dam) began construction. The area’s population swelled from roughly 5,000 to well over 25,000 – mostly young males who had come from all over the country in search of work on the dam. Las Vegas officials saw an opportunity for large scale entertainment and legalized gambling on a local level in 1931. In an ultimately futile move, the government officials attempted to curb this by creating Boulder City to house workers, and placed restrictions on travel into Las Vegas.

five

SNEHIT / Shutterstock.com

Who Says Crime Doesn’t Pay? In 1946 the famous mobsters Bugsy Siegel and Meyer Lansky opened what would be the first of many mafia controlled casino hotels – The Flamingo. Siegel was gunned down the following year in Beverly Hills, CA, but by that point the rush was on. Vegas quickly became a destination for millions of tourists, Hollywood elite, and notorious crime figures. By 1954, the city was hosting over 8 million visitors a year and raking in hundreds of millions of dollars in gambling revenue. Several high profile attempts were made by the government to curb the stronghold the mafia had gained, however this media attention only served to fuel explosive growth of the city – and even cemented the fates of other would-be gambling destinations such as Hot Springs, Arkansas, and Galveston, Texas.

1990

bur

Rio and Excali

Kobby Dagan / Shutterstock.com

Megaresort Timeline

Wynn and Encore

1993

reasure MGM Grand,LTuxor Island, and 1996 wer and o T e r e h p s to a Str Monte Carlo 1997

w York

New York - Ne

1998

Bellagio

six

The Rat Pack

nito / Shutterstock.com

Perhaps the most famous of all Las Vegas personalities were the bigger-thanlife members of what’s called ‘The Rat Pack’. Frank Sinatra, Dean Martin, Sammy Davis Jr., Peter Lawford, and Joey Bishop became the biggest draw and were soon rubbing shoulders with mafia bosses and other crime figures. The group became the face of the city and actually played a unique role in the de segregation of many area hotels and casinos as they would refuse to play any venue so long as Sammy Davis Jr., who was African American, was not allowed to stay and play with them.

seven

Rise of the Megaresorts Today, Las Vegas has a much cleaner image thanks in part to people such as Howard Hughes, who spent more than $300 million purchasing hotels and casinos from crime organizations. As the city’s reputation improved, its population exploded. From 1970 until the housing crash, the city never experienced less than 60% growth in a decade, more often than not actually doubling in size. The construction of the Mirage in 1989 by real estate magnate Steve Wynn set off a period of tearing down the “Old Vegas” landmarks and building new “Megaresorts” in their place.

1999

eight

tian,

, Vene Mandalay Bay and Paris

2000

ood PlanerltyHAlaodlldyinw) (Forme

2001

Palms

2005

Wynn

2007

Palazzo

2008

Encore

2009

The Comeback Kid Perhaps more than any other single market, Las Vegas was devastated by the housing crash of 2007, and the global financial crisis of 2008. However, Vegas’ wild at heart spirit was not deterred, and by 2012 the city was named the US’ Top Turnaround Market by real estate data company Trulia. In particular, the luxury home market in the city has continued to fuel new growth with opulent custom homes and massive new high rises being constructed at breakneck speed.

CityCeinnclutedres Aria) (which

2010

tan The Cosmopoli FA L L 2 0 1 6

ILHA FORMOSA:

n a w i a T The Beautiful Island of

PHOTOGRAPHY COURTESY OF TOURISM BUREAU OF TAIWAN

T BY JACKI UENG

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aiwan, known as Beautiful Isle, 美麗島; Měilìdǎo, is the leading tech and foodie capital in the world. In the heart of Asia, Taiwan’s green island is filled with natural formations, tropical forests, Buddhist temples and a culture that could not be more hospitable. For the outdoor adventurer, there are miles of mountainous and ocean landscape to cycle or hike through which would be just as fitting for the avid photographer. For the foodie, you could virtually eat your way around the country for a whole year on every corner.

TR AVELING

BEITOU HOT SPRING IS A POPULAR DESTINATION FOR REST AND RELAXATION JUST MINUTES FROM THE VIBRANT, BUSTLING CITY OF TAIPEI

Located on the southeastern coast of Asia, with China to the west, Japan to the northeast, Philippines to the south. Only a population of 23 million and petite in size, Taiwan’s GDP (PPP) in 2016 was estimated at 1,147 trillion dollars with a $48,703 GDP per capita. Taiwan ranks as the 21st largest economy in the world with continued stable industrial economy and high tech industry which plays a crucial role in the global economy. This has made Taiwan one of the “Four Asian Tigers” alongside Hong Kong, Korea, and Singapore.

THE BOHEMIAN VAGABOND

A SEASONED TRAVELER'S SECRET

TOPS ON ANY TOURIST CHECKLIST IS TAIPEI 101, THE FORMER TALLEST BUILDING IN THE WORLD STANDING 1671 FEET TALL BEHIND BURJ KHALIFA IN DUBAI. THERE IS A 5-STORY SHOPPING CENTER WITH CAFÉS AND BARS TO ENJOY. THIS IS THE BEST PLACE TO SEE FIREWORKS ON NEW YEAR’S EVE AND EVERY MAJOR EVENT.

AT A GLANCE

with

STREET MARKET AT THE RED HOUSE, XIMENDING, TAIPEI

While Taiwan may not have been on everyone’s radar yet, it has been many seasoned travelers’ hidden secret spot of Asia. Many come for business and then stay for leisure, while other’s visit as a layover and then find themselves coming back time and time again. In recent years, dozens of travel magazines have featured the beauty of Taiwan, which has lead to travelers moving it up to an instantaneous ‘must’ on their bucket list. My parents were born there and I have been a dozen times since I was a toddler; it’s a country truly comfortable, clean, and easy to travel through. And why wouldn’t it be? It is one of Asia’s most liberal and democratic governments, even having recently elected its first female president. Politics aside, females traveling in Taiwan have always reported it to be incredibly safe. Taiwan prides itself in the advancement of human rights, freedom of the press, public education, gender equality, nature preservation, animal rights and an amazing healthcare system.

WHEN TO GO This small island lies on the Tropic of Cancer and is mainly Marine Tropical. The south is more tropical while the mountainous areas are a bit chillier. Pack light, cotton clothing, walking shoes and some dancing heels for your trip to Taiwan!

CONTINUED

With United States being one of Taiwan’s main allies, travel to Taiwan is cheap and easy, with no visas needed and non-stop flights available several times a day.

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ILHA FORMOSA:

n a w i a T The Beautiful Island of

CULTURE

FOOD

The country was conquered in the 17th century by the Dutch and then the Spanish, and in the past century by the Japanese from 1895 to 1945 (China and Japan fought over the land from 1912-1945). The culture and mannerisms are a fusion of all these influences with some of the cultural customs and culinary influence still present today. In 1949, the Communist party lead by Mao Ze Dong took over China, establishing People Republic of China. During this time, the former ROC leader Chiang Kai-shek took his party, now 2 million refugees consisting of soldiers, intellectual and business elitists, and fled to Taiwan to avoid persecution.

The top reason to come to Taiwan is for the food. Taiwan has a long and complex history with it’s cuisine with a combination of Chinese, aboriginal, and Polynesian base. The Taiwanese palate is quite exotic and daring as you could find virtually every ‘Bizarre food’ out there. Seafood, pork, chicken, and beef are found in many dishes along with carbs such as noodles, dumplings, buns and pancakes. There are a wide variety of vegetable and mushroom dishes for the vegetarians. They are huge on desserts, juices, shaved ice, coffee and tea.

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FEATURED BIZARRE FOOD

Stinky Tofu MANGO SHAVED ICE FROM ICE MONSTER IN TAIPEI

A quintessential Taiwan Dish that is tofu fermented up to a few months by milk, vegetables and meat, served with pickled cabbage, soy sauce, garlic, spicy sauce. Every shop has their own version of it: cold, hot, deep fried and in hot pot. It is an acquired taste and horrendous to the smell sense, it is a must try and who knows, you might find yourself loving it! The Taiwanese say that the worse it smells, the better it tastes!

DIN TAI FUNG RESTAURANT IN TAIPEI

TR AVELING

with

THE BOHEMIAN VAGABOND

Explore! BEAUTY OF THE QUEEN'S HEAD ROCK, YELIU, NEW TAIPEI CITY

YOUBIKE, A PUBLIC BICYCLE RENTAL SYSTEM, IS A CONVENIENT AND POPULAR WAY TO GET AROUND TAIPEI

XIMENDING SHOPPING DISTRICT IN THE WANHUA DISTRICT OF TAIPEI

TAIPEI For a capital city so advanced in technology and business innovations, the people still exhibit a laid back island vibe. While the skyline displays high rises, the space in Taipei is still more spread out and not as crowded as most big cities you imagine: Tokyo, Shanghai, New York, Singapore. In essence, you get the best of both worlds.

HUALIEN COUNTY

YUSHAN NATIONAL PARK

Located on the mountainous east coast of Taiwan, this is a small town where you get away for a few days to be at one with nature. Whether you want to exercise via bicycling, rent a motorcycle, hike, jog, swim, climb, you could find it all. This is the place for natural hot springs, massages, spas, museums, temples and a theme park. You get the best of both worlds – the mountain and the ocean.

One of the 9 national parks in Taiwan, it’s a great place to hike through cliffs, canyons and valleys. The park is home to a large variety of birds, mammals, reptiles, amphibians, and butterflies. Between the months of March and May, you may have the opportunity to see processions of butterflies fluttering through mountain valleys.

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

Connect with Jacki:

AREAAnewsNetwork

@JackiUeng

FA L L 2 0 1 6

International Real Estate 101 with Mark Kitabayashi

LET'S TRAVEL and ENJOY Now that you built your network and gained knowledge, let’s travel! Domestically, attend real estate conferences that have international flair to them! AREAA’s Annual Convention, AREAA’s Global & Luxury Summit, NAR’s Annual Convention (this year in Orlando!) to network with Real Estate Agents from other parts of the US, and also with international guests. For example, NAR’s Convention attracts over 20,000 REALTORS, and 2,000 international visitors; AREAA’s Global & Luxury Summit attracts over 500 attendees. Another opportunity is to join a trade mission to the country of your choice. AREAA & NAR offer multiple trips throughout the year. And also check with you local or state REALTOR associations, chambers of commerce or other business organizations. By visiting other countries, you will have a chance to not only learn about their real estate market and practices, but you will learn to appreciate what we have in here in United States. At the end of the day, local or global, real estate is all about the relationships! International real estate can be challenging but it can be very rewarding and enjoyable!

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MARK KITABAYASHI is long time member of AREAA and CIPS instructor for NAR. He lives and works in the Seattle, Washington area for Windermere Real Estate. You can reach Mark at 360-888-2210 or Mark@windermere.com.

Howdy

from

Austin, TX is…

#1 America’s Next Boom Towns – Forbes, Jan 14, 2016 #2 Most Stable Housing Market – Freddie Mac Mimi, Dec 5, 2015 #7 Best Buy Cities: Where to Invest in Housing– Forbes, Jan 27, 2016 Contact the 2015 – 2016 AREAA Austin Board of Directors!

RELA MANIGSACA 512.694.4183 relarealtor @gmail.com

CHRISTINE CHAU 512. 293.2700 cchautur @gmail.com

LILY LYNN 512. 771.5865 lilylynn @realtyaustin.com

PRIYA RAM 512.576.8017 priyaramrealtor @gmail.com

HELENA KWEE 512.705.5578 helenakwee @gmail.com

HONG LEE 512.293.4663 hlee@bridgepoint investmentgroup.com

MICHAEL SCHWARTZ 512.731.4626 mschwartz @ctot.com

ALKA SHAH 512.925.1982 s98.shah @gmail.com

MARLEY KETCHUM 512.627.0850 mketchum @trinitytitletx.com

HEM RAMACHANDRAN 512-970-6336 hem@indusrealty.com

a /r/eats! Image and recipe courtesy of: jocooks.com

INGREDIENTS: ++ 2 servings of fresh udon noodles or 8 oz of dry udon noodles cooked according to package instructions ++ 2 chicken breasts, boneless and skinless, cut into small pieces ++ 1 tbsp sesame seed oil ++ 1 tbsp olive oil ++ 1 ⁄ 3 cup soy sauce, low sodium ++ 1 tbsp sriracha sauce ++ 1 ⁄ 4 cup hoisin sauce ++ 2 cloves garlic, minced ++ 1 tsp freshly grated ginger ++ 4 white mushrooms, sliced ++ 1 ⁄ 2 cup chicken broth ++ 3 green onions, chopped ++ Black pepper to taste

EASY HOISIN CHICKEN UDON NOODLES

DIRECTIONS: 1.

Blanch udon noodles in boiling water for about 1 to 2 minutes or if using dry noodles cook according to package instructions. Drain well and immediately rinse with cold water. Set aside.

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Heat the olive oil and sesame seed oil in a large skillet or a pot and add chicken pieces and cook until chicken is no longer pink and starts to brown slightly. Add ginger, garlic and mushrooms and cook for a couple more minutes until mushroom are starting to brown.

Add soy sauce, hoisin sauce, sriracha and chicken broth, stir and bring to a boil. Add noodles to the pot and cook until noodles are heated through. Garnish with green onions and serve hot.

BET T Y SUN WONG CIPS, CRS, PMN, CDPE

Luxury Property Specialist

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E-2

TREATY INVESTOR

U.S. BUSINESS VISA OPTIONS: WHICH ONE IS BEST FOR YOU?

DESCRIPTION/ TYPE OF VISA

STRATEGIC CONSIDERATIONS

By Mary Carmen R. Madrid Crost and James M. McClintick Picking the Right Visa program for you or your client can be an intimidating and daunting process. Fear not, for we here at a | r | e have just the answer – use our chart to see the differences between these common visa types and help narrow down which option works best for you.

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PROCESSING TIME and PROCEDURE

»» »»

Non-immigrant visa

»»

The E-2 business must be at least 50% owned by citizens of the same country

»»

Smaller amount of investment, as long as substantial enough and sufficient to operate the business (thus, business plan is crucial)

»»

Much quicker to process compared to EB-5 and premium processing is available.

»»

Maximized use of funds (since E-2 may be granted for an investment as low as $50,000; use the rest of the funds to invest in a Targeted Employment Area or Regional Center for green card purposes)

»»

Gives the investor a chance to test the waters before investing the amount required by the EB-5program.

»» »»

No annual quota

»»

An applicant who resides abroad may apply directly to the Consulate by submitting the E-2 packet several weeks before the visa interview; no need for a petition to be previously filed and approved.

»»

An applicant who is presently in the U.S., may apply for a change of status

»»

Normal processing time is 3-4 months; premium processing reduces the processing time to 15 days; note that USCIS may issue a request for evidence (RFE) which grants the applicant 84 days within which to respond; after submission of the RFE response, USCIS will issue its final decision.

Substantial sum of money put at risk to operate a business that is more than marginal, and the foreign national is here to direct the E-2 business

Some options available to process the green card.

EB-5

L-1A

JOB CREATOR

INTRA-COMPANY TRANSFEREE

»»

Immigrant Visa

»»

Non-immigrant visa

»»

Intended to create jobs by investing at least $500K in a targeted employment area (TEA) or a regional center (RC) or $1M in a locality that does not qualify for TEA

»»

Intra-company transfer of executives or managers to work in the same capacity in a U.S. branch, affiliate, subsidiary

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U.S. business need not be the same business as the foreign entity as long as the relationship exists

»»

Direct investment or Regional Center?

»»

Invest in a Targeted Employment Area (TEA) for $500,000, or a non-TEA for $1,000,000?

Unlike EB-5, there is no need for the qualifying employee, or employer, to create 10 jobs.

»»

Can you prove that your investment funds came from a legal and legitimate source?

The L-2 spouse with an approved EAD may work anywhere; there are no limitations on location.

»»

There is NO annual quota on the L-1A visa granted, and no wage minimums for the L-1A employee.

»» »»

Which part of the country/industry to invest in?

»»

Is the project legitimate, and does the developer have a good reputation and track record?

»»

Green card process is possible through the EB(1)(c) program, after one year in

»»

Does the project developer himself/herself have some “skin in the game” (i.e., developer has invested in it too?).

»»

L-1A status.

»»

Make sure there is no danger of kids “aging out” by turning 21 before being admitted to the U.S. as a conditional permanent resident. (The Child Status Protection Act prevent most, but not all, of these situations.)

»»

Consider requesting an expedited review of the I-526 if the child is already close to 21.

»»

A successful applicant will be granted conditional residency initially.

»»

The petitioning U.S. entity files a an L-1 petition

»»

The processing time for this type of I-129 is roughly 1 month.

»»

This entails:

»»

Note that approval of the blanket L-1 petition does not guarantee that an employee will be granted L-1A classification.

(a) filing the EB-5 petition (processing time is 16-18 months; unlike the E-2 visa, there is no 15-day premium processing here; expedited processing is available in extremely rare situations); and (b) immigrant visa processing at the US Consulate abroad or adjustment of status if the applicant is in the US; »»

To receive permanent residency, file an application to remove the condition within 90 days prior to the expiration of the 2-year conditional resident status; removal of condition entails proving the creation of 10 full-time jobs as a result of this new commercial enterprise.

»»

Only after approval of the EB-5 petition will the applicant and derivative beneficiaries become eligible to apply for an immigrant visa at the US Consulate or apply for adjustment of status if they are physically present with a valid immigration status in the US or otherwise eligible to adjust status.

Continued: Eligibility, Requirements & Benefits FA L L 2 0 1 6

ELIGIBILITY and REQUIREMENTS

E-2

EB-5

L-1A

Treaty Investor

JOB CREATOR

INTRA-COMPANY TRANSFEREE

»»

Existence of a treaty is not required.

»»

Affiliation between the U.S. company and the foreign business is required.

»»

The petitioning employer must: (a) have a “qualifying relationship” with a foreign company; and (b) currently or will be doing business in the U.S. and at least one other country.

»»

The employee must: (a) have been working for a qualifying foreign organization for at least one year during the 3 years preceding admission to the U.S.; and (b) be an executive or manager for a branch of the same employer.

»»

The maximum initial stay for the qualified employee establishing a new office is 1 year.

»»

The maximum initial stay for all other employees is 3 years.

»»

The petitioning U.S. entity must have a qualifying relationship (parent, subsidiary) with the entity abroad.

»»

Sufficient physical space must be secured for a new office.

»»

A new office must be up and running within 1 year after the L-1’s admission to the U.S. if requesting an extension of stay.

»»

After 1 year the new office must support a manageror executive-level position if you are requesting an extension of stay in the L-1A classification.

»»

The transferring executive or manager may work as soon as L-1 visa or change of status is approved.

»»

The derivative beneficiaries enter on an L-2 to join the L-1A principal.

»»

The L-2 spouse qualifies for an EAD.

»»

Unmarried children under age 21 may enter and study.

»»

Visa applicant must be a citizen of a treaty country. See: www.uscis.gov/ working-unitedstates/temporaryworkers/e-2treaty-investors Consider L-1A option if the applicant’s country of citizenship is not a treaty country

»»

BENEFITS

About the Authors

FA L L 2 0 1 6

»»

PRINCIPAL BENEFICIARY The principal beneficiary may operate the business upon approval

»»

DERIVATIVE BENEFICIARIES

»»

The spouse is eligible to apply for an employment authorization document (EAD)

»»

Children below 21 may study in the US

»»

No requirement for a treaty between the US and the investor’s country of citizenship. Must create at least 10 full-time jobs for qualifying U.S. workers (citizens or LPRs) within two years of admission to the U.S. as a conditional green-card holder. The investment must be in a New Commercial Enterprise (NCE), which is a for-profit entity established after Nov. 29, 1990 or before that date which was significantly restructured or expanded by 40% of employee size or net worth. As an investor, you must prove that your funds were “obtained through lawful means.” The money you invest must be “at risk” – i.e., the funds must be committed, with no guarantee of return or redemption. The principal, spouse and unmarried children under 21 may apply for an immigrant visa or adjust status within the US.

Mary Carmen R. Madrid Crost Ms. Madrid Crost is Founder and Managing Attorney of the Madrid Crost Law Group. She is admitted to the State New York bar.

James M. McClintick Mr. McClintick is an Attorney at law with the Madrid Crost Law Group. He is licensed to practice law in the State of Illinois and admitted before the U.S. District Court for the Northern District of Illinois.

To Stay Current and access exclusive discounts, follow AREAA!

@areaa www.areaa.org /areaa.national

AREAA National is now accepting applications for the 2016 AREAA “A” List. The 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 only. Application must be submitted by July 31. To get more information and fill out the required application, please visit www.AREAAalist.org

a-r-e@prveen.com | 951-514-1053

MIAMI GLOBAL + LUXURY SUMMIT 2017

APRIL 21th - 23rd, FOUR SEASONS HOTEL

STRATEGIC ADVANTAGE: TECHNOLOGY IN REAL ESTATE BY RICH ENDERLIN

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hen Rand Sperry launched Sperry Commercial Global Affiliates, LLC, the objective was to create a highly-collaborative brokerage platform that benefits the broker and client. One of the tenets of Sperry Commercial is its commitment to state-ofthe-art technology to further facilitate deal flow and cooperation. Consider the industry impact of cloudbased solutions. Brokers can gain access to company information, research, documents and forms, and their own transactions from almost anywhere, at any time. Specifically cloud based-transaction management allow brokers to communicate with their clients and organize, manage, and track their transactions in real-time, allowing for faster response times for their clients and more time efficient closings. Sperry Commercial’s technology platforms further facilitate the ability of the agent, brokerage and franchisor to communicate and gain information at the speed of light, thus increasing collaboration be-

tween the individual office, affiliates and with the brokerage community. Tools such as Sperry Link, powered by BuildOut, and Sperry Central, powered by BackAgent, are part of a company-wide system that is easy to use, ensuring that even the least technology-savvy broker can access the right tools. Collaboration is further encouraged because brokers can communicate with an entire network of affiliates where they are able to view and post listings, announce closings, and contact other agents in outlying offices. Monthly and yearly sales reporting on both the individual Broker and for the office as a whole is accessible and this information can be critical when tracking active transactions and sales, and analyzing trends. Sperry’s technology play is what intrigued James Huang of BRC Advisors to join as the first franchisee for the new global platform. According to Huang, the firms are working together to create new paradigm shift in the industry focused on technology and globalization. “These are the trends that are affecting CRE in a bigger way than ever before,” add Huang.

RICH ENDERLIN is the chief operating officer for BRC Advisors Commercial Real Estate, A Sperry Commercial Global Affiliate

AREAA N AT I O N A L P O L I C Y D AY MAY 8-10, 2017

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AROUND

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A S S O C I AT I O N

AREAA GREATER CHICAGO CELEBRATES AT CAR HALL OF FAME We here at AREAA National would like to congratulate our own Vicky Silvano and Nancy Suvarnamani for their recognition at the Chicago Association of REALTORS® Hall of Fame Induction! Mrs. Suvarnamani was inducted into the Association’s Hall of Fame, while Mrs. Silvano was given the Realtor® Achievement Award.

JAMES HUANG NAMED PRESIDENT OF NEW COMMERCIAL BROKERAGE PLATFORM JAMES HUANG Los Angeles, California

James Huang’s, Founder and CEO of BRC Advisors based out of Los Angeles, signed on as the first firm on the new Sperry Global Commercial Affiliates brokerage platform, and will serve as President in the new partnership. James will focus on expanding the brand’s presence across the country and in the Pacific Rim.

Nancy Suvarnamani (left) and Vicky Silvano (right)

CHAR, PHAM ELECTED TO NATIONAL LEADERSHIP POSITIONS

RANDY CHAR Las Vegas, Nevada

NICK PHAM San Jose, California

Randy Char of AREAA Greater Las Vegas and 2015 Luxury Chair, has been named 2017 Vice President-Elect. Randy was the former President of the Greater Las Vegas Chapter, 2015 National Luxury Chair, the top agent by volume on the 2014 A-List, and has a proven track record of organizational and brand development having successfully launched Char Luxury Real Estate, one of the most prominent and successful real estate brands in Las Vegas. Former Silicon Valley Chapter President Nick Pham was elected 2017 Treasurer. Born in Vietnam, Nick immigrated to the US after the war, reuniting with his parents in Mountain View, CA. Nick brings a wealth of experience to the position from his duties as the Vice Chair on the Planning Commission of the City of San Jose, CA. Nick has also previously served as the 2015 AREAA Policy Committee Vice Chair, and the 2016 AREAA Community Outreach Chair.

Esther Lee (far left) supports Young Ahn (2nd from right) as she is recognized at the Asian Business Awards

AREAA GREATER LOS ANGELES’ YOUNG AHN RECOGNIZED AREAA GLA President Young Ahn was recognized by the Los Angeles Business Journal as a Finalist for the Asian Business Awards for her outstanding work in the Los Angeles community and her continued commitment to excellence in real estate.

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AR E A A VAN COU VE R H OSTS GLO BAL CO N N ECT M EGA SUM M IT

AROUND

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A S S O C I AT I O N

The red carpet was laid out at the Sutton Place Hotel in Vancouver Canada for the fourth annual Global Summit, Global Connect. Guest speakers flew in from around the world to share their expertise in Asian Investment and Asian Culture. Attendees received a value packed day which started with Vancouver president Tony Joe welcoming our guests, speakers and media. We were very lucky to have AREAA's very own chairwoman Vicky Silvano give an AREAA update and big smiles with her outgoing personality and charm! Vancouver’s summit took a deep dive into the effects of Asian Investment in Canada and how the the real estate industry can benefit through organizations such as AREAA through educational summits such as this sold out event. This particular day also had a twist of philanthropic sharing as our guest speaker Peter Dupius founder and CEO of S & P Real Estate Corporation wooed us with their charitable foundation and the phenomenal effects a few dollars from every real estate transaction from Canadian realtors has made on third world countries. Xiaofang Zhou Grandniece to China Premier / Co-founder Zhou Enlai Peace Institute with her husband, Michael North, co-founded America-China Bridge which is active in citizen diplomacy, creating business, cultural and education programs in the United States and China. Its purpose is to build international understanding and respect, the foundation for peace. There were numerous breakout sessions, Panels which included Vancouver real estate and global impacts to Luxury real estate across North America and how today’s dollar is fueling historic sales records across the globe. Technology, Interior design, and social media guru Jerry King from White Dragon Consulting gave us some valuable tips on Feng Shui…an incredible educational, action packed day was had by all, and it didn’t stop after all the presentations, a lively cocktail party allowed for even more networking and laughter. The AREAA Vancouver Chapter would like to extend a further thank you to our magnificent sponsors Lennar International, Century 21 Fine Homes and Estates and RE/MAX for which we are truly thankful.

AR E A A SAN D I EG O LE ADS BY E X A M PLE WITH COM MU N IT Y SE RVI C E E FFO RTS On its third consecutive year, AREAA San Diego Chapter garnered the AREAA Community Spirit Award 2016 again! The chapter is not only growing in membership but has significantly expanded its presence in San Diego Real Estate; building strong partnerships with everyone in the Housing Industry; and most of all, making a real difference in the Community. 2016 is not over and the organization has accomplished quite a few educational and community outreach events. This year, AREAA San Diego continues to provide valuable education and networking opportunities to its members. There is at least two events per 68

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month. Over twenty real estate education, mixers, and community outreach opportunities year-to-date have been completed. You may ask, how is that even possible? The leadership believes in making a difference in the community that you serve; that beyond our busy business lives, the chapter has an even better purpose by connecting with real people who truly needs help. In turn, each initiative gives every board member an opportunity to lead. The preparation process becomes a team building opportunity. Hence, AREAA San Diego Chapter is molding well-equipped leaders for a better outreach programs in the future.

S U E RIT

We want to hear from you!

To have your news, awards, good work and accomplishments considered for publication in future editions of a | r | e Magazine, contact Scott Berman at:

sberman@areaa.org

Last year, foreign buyers purchased $103 billion in U.S. residential real estate. $27 billion came from China alone. NAR’s resources can help you capture this lucrative clientele: NETWORK

EDUCATION

RESOURCES

3,000 Certified International Property Specialist designees

Certified International Property Specialist designation

NAR Research on international buyes and sellers

5,000 International REALTORS®

At Home With Diversity certification

Realtor.com/international translates listings

Cooperating Associations in 66 countries President’s Liaisons to each country

Stay connected! realtor.org/global narglobe@realtors.org 1.800.874.6500