The official publication of the Asian Real Estate Association of America
The best
of areaa Fall of 2019
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Volume 11, Issue 1II
L AYO U T & D E S I G N Jazz Miranda
is a publication of the Asian Real Estate Association of America (AREAA), a national nonprofit trade organization dedicated to increasing sustainable homeownership in the Asian American community. For more information visit: areaa.org Š2019 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. 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: areaa.org/a-r-e For additional web-based content, please visit: areaa.org
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FROM THE
Director As AREAA’s Executive Director, one of my favorite questions to ask is, why did you choose to serve our community?
AREAA’s objective is to see the AAPI homeownership rate, currently at 56%, become higher and closer to the 74%, of non-Hispanic Whites.
It may sound simple, yet, the answer is not necessarily one-dimensional. In many instances, I hear, “I want to give back. After all, I have been given so much.” Some serve our community because of an altruistic attitude stemming from a posture of gratitude. Others respond to the question and say they choose to serve AREAA and the AAPI community because they feel a sense of a moral obligation in addressing social injustices. Others may not feel as noble but choose to serve because of the intrinsic value of business relationships. Throughout all of these diverse motivations, one thing is clear – AREAA members are passionate about serving the Asian American and Pacific Islander community. And, there is so much to look forward to when serving our communities. The AAPI population is projected to be the largest immigrant group by 2055. AAPIs surpassed $1 trillion purchasing power at the end of last year. And, the AAPI community over-indexes on income, education, and technology. Our community has achieved high material and financial successes, despite many barriers such as language disparity. Yes, despite all that, we still lag 14% in our homeownership rates compared to NonHispanic White Americans. Why is that? Many economists are vexed with this gap. In fact, Mark Fleming, Chief Economist of First American Title Insurance, says that all things considered (income, DTI, credit), there is no known explanation for this disparity.
Here at AREAA, our primary mission is to close that gap. You’ ll see in many of our chapters, there’s renewed focus on first-time homebuyer education and programs that highlight many of our lender partners to get families into homes sooner. From homebuyer fairs to financial counseling, AREAA’s objective is to see the AAPI homeownership rate, currently at 56%, grow higher and closer to the 74% homeownership rate of NonHispanic White Americans. What is AREAA doing to close the gap? We continue to advocate in our nation’s capital and partner along with others who champion AAPI homeownership, such as; Phil Bracken, Gregg Orton, Hon. Grace Meng, Hon. Judy Chu, Hon. Al Green, Hon. Senator Tammy Duckworth and many, many others. With a strong voice in Washington DC, AREAA is now a formidable force representing the AAPI community in homeownership. AREAA members can influence and impact change. We continue to educate and highlight the importance and strength of the growing AAPI community and the challenges we face through our annual State of Asia America (SAA) Report. Now is the opportune time to join with the AREAA movement. Will you join us?
HOPE ATUEL
AREA A Executiv e Director
CONTENTS
08 03
21
Letter From The Director
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Sit down with AREAA President, Tom Truong, and 2020 President-elect, Jim Huang, to discuss their journey to leadership, their passion for the AAPI community in real estate, and their vision for AREAA’s future.
Read from Hope Atuel, AREAA Executive Director, as she previews the Fall A|R|E issue and shares our vision for greater homeownership for the AAPI community and what is next for AREAA.
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The 2019 AREAA A-List
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AREAA Goes (back) to Washington D.C Recap our annual Policy Summit and learn how AREAA met with our nation’s representatives and leaders on Capitol Hill to advocate for greater homeownership.
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Awards & Recognitions Grace Meng: AREAA Advocate Award
Meet AREAA’s Best of the Best for 2019, featuring the nation’s top individual and team real estate and mortgage producers.
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Leaders’ Q & A
Phil Bracken: AREAA Policy Champion Award Gregg Orton: AREAA Community Service Award
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The Best of AREAA Awards View the winners of our annual Best of AREAA Competition as we highlight some of our top chapters from across the country.
NEW SECTION: A-List Highlights In this issue, you’ll see five profiles featuring A-List winners that represent the AREAA community and our stories. Turn the page to learn what drives these individuals to success and how they stay motivated to stay on top.
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A-List Highlights: Linda Lee Learn how this top producer uses her success to inspire the next generation of leaders while working as a champion of AAPI homeownership and becoming an NAR Hall of Famer.
27 36
Founders Update AREAA’s founders reflect on the growth and success achieved in our 16 year history. Read as we highlight and recognize the members who have made AREAA what it is today.
38
2019 Board of Directors
07
From a refugee story that escaped the horrors of communist Vietnam, see how this Midwestern real estate leader has been able to create one of the top real estate brokerages in the Midwest, all while creating a family-centric business alongside his wife.
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National Sponsors Thank you to the generous support of our national sponsors who partner with AREAA to make homeownership a reality for AAPI families.
42
Luxury Course Learn about the annual AREAA Luxury course and the achievements of the class of 2019 luxury attendees.
A-List Highlights: Sean Phalon Where were you when you were 21? Learn how this top mortgage lender was mastering marketing lead funnels for mortgage products before turning 25 and went on to become of one New Jersey’s top mortgage brokers. Meet Sean Phalon.
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A-List Highlights: Zar Zanganeh Real estate takes patience, respect, and a little bit of luck. Read how Zar’s real estate career exploded after dealing with mysterious clients that led him to become one of Las Vegas’ top brokers.
View the current AREAA leadership team.
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A-List Highlights: Long Doan
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A-List Highlights: Jamie Tian Learn how a UCLA senior getting ready to graduate and attend law school was able to get her real estate license, close three transactions, and begin a succesful career in Beverly Hills' competitive luxury markets.
A-List Highlights
linda lee Keller Williams SD Metro When you reach the height of success, what’s next? Linda Lee exemplifies how giving back to the communities we love is the culmination of a legacy of excellence. For nearly 20 years, Linda has been a consistent top producer. However, it would be surprising to discover this former UCSD grad actually began her career as a CPA. Linda’s passion for real estate started early, watching her Taiwanese family manage and invest in properties in the U.S. while still living abroad. Coming from such a successful family and legacy did not place much value in real estate, so one can imagine the difficult transition that came when Linda Lee revealed her plans to pursue real estate full time. Real estate is a difficult business, you can only harvest what you can reap with your own hands. There is no consistency, no regular salary – just what you can make of it. And many clients have had their fair share of negative experiences. When asked why Linda still has such a vibrant passion in real estate and what motivates her to succeed, she laughed and replied, “if I can be frank, I’ve just seen so many bad real estate agents that I wanted to commit myself to making sure people redefine their perception of the real estate agent”. For Linda, real estate is not just a profession or a passion, but it’s a vital aspect of any community. For this reason, Linda has spent years with the National Associations of Realtors to support legislation and lobbying efforts protecting and promoting homeownership and private property 6
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rights. Not only is Linda a year after year top producer, but she has also been named to the NAR RPAC Hall of Fame for her work advocating for greater access to homeownership. On top of all of her accomplishments, Linda has also spent years giving back to the youth in her local communities. Linda has provided scholarships for high school students, helping students unable to find the resources to attend school to get the support needed to pursue academics. She has also provided workshops for college students, helping them get connected to professionals in her field to get a jump start on the professional world that would greet them soon after graduation. When asked why she does all of this, on top of continuing to exceed in her real estate career – Linda simply said, “This is my legacy. I want to help others in this world because I can. I want to provide the opportunity for those who are looking and allow others to pursue their dreams like I did”.
long doan Realty Group, Inc. Real estate isn’t just a business, it’s truly a lifestyle. When you look at the daily routines of the top producers – they mirror the lifestyles and routines of other supersuccessful professionals. It’s all about the craft. And for Long Doan, real estate is a lifestyle that motivates him to lead one of the top real estate firms in the country. In fact, real estate is such a lifestyle choice for Long that he even works alongside his wife, Michelle, at his real estate firm, Realty Group, in Minneapolis, Minnesota. Together, Long and Michelle have been able to create one of the leading, most productive real estate teams in the country with a heavy emphasis on work-life balance. It’s no wonder that there are over 20 husband and wife teams at his company, making up over 10% of those he oversees. Real estate is 24/7, and it can become exhausting and even consume so much that families have fallen apart as a result of the demand that it places on our lives. This is why for Long, balance is such a high priority and value. For every agent that joins Long’s business, they are trained on the importance of balance in the workplace and at home. With over 400 agents, his firm is the fastest growing real estate company in Minnesota and responsible for 1 out of every 26 closings in the state. Today, Long’s real estate practice has become the number one independent real estate firm in his home state and 118th in the entire country.
Long’s business serves a vibrant and diverse community that makes the cities of Minneapolis and St. Paul so unique. The Twin Cities are home to many different ethnic groups and minorities, that Long holds a deep conviction to pay it forward. If you’ve ever read anything about Long’s story, you’ll know the devastating hardships he witnessed as a child in communist Vietnam. He tells us that real estate is a means for him to serve his community and help people. For so many agents, a transaction is just part of the job – but for so many families that we so easily forget, helping them buy a home is one of the most important and intimidating moments in their lives. When asked about his passion for real estate and why Long still continues to give back to his community, he explained, “I never want anyone to feel the way I did when I was a refugee sitting on that beach as a kid when I was leaving Vietnam”.
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 2018 production, the 2019 "A-List" is comprised of the top 50 applicants in each of the two categories: SALES VOLUME and TRANSACTION SIDES.
TOP SALES PROFESSIONALS
TOP SALES PROFESSIONALS
BY 2018 INDIVIDUAL VOLUME
BY 2018 INDIVIDUAL SIDES
1
$176,064,666
1
225
TERE FOSTER
M I TA L A M IN
T E A M FOS T ER AT
S I LV ER A N D OA K RE A LT Y
CO M PAS S WAS H I N GTO N
Jersey City, NJ
Bellevue, WA
2
$167,456,425
T2
209
PHIL CHEN
DANIELLE MOY
SY BA RI T E
CO L DW EL L BA N K ER
Burlingame, CA
R ES I D EN T I A L B RO K ER AG E
Orland Park, IL
3
8
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$110,638,776
T2
209
M O YA SKI LL M AN
S A B R I YA SCOT T
T E A M FOS T ER AT
S COT T R E A LT Y
CO M PAS S WAS H I N GTO N
PRO FES S I O N A L S
Bellevue, WA
Savannah, GA
4
TOP SALES PROFESSIONALS
TOP SALES PROFESSIONALS
BY 2018 INDIVIDUAL VOLUME
BY 2018 INDIVIDUAL SIDES
M ITA L A M I N
4
S I LV E R A N D OA K R E A LT Y
BETTER HOMES AND GARDENS REAL ESTATE
Jersey City, NJ
Warner Robins, GA
$98,475,142
5
T R AC Y ALLEN
186
5
O C E A N I N S I D ERS L LC
Honolulu, HI
Davie, FL
Y VONNE SUM M ERFI ELD
109
6
X PA N D R E A LT Y
Kalaheo, HI
Las Vegas, NV
DANIE LLE MOY
103
7
THE GOLD STANDARD GROUP WITH EXP REALTY
Orland Park, IL
Rockville, MD
H E R M A N CHAN
94
8
P RO P E RT Y WO R KS N E W EN G L A N D
Berkeley, CA
Wethersfield, CT
DAVID D ESANTIS
92
9
LUANN SH I K ASH O
TTR SOTHEBY’S INTERNATIONAL REALTY
E X P R E A LT Y O F C A L I F O R N I A , I N C
Chevy Chase, MD
Elk Grove, CA
$44,921,575
10
MI CHA EL TR AN
GOLDEN GATE SOTHEBY’S INT’L REALTY
$45,463,227
9
TI NA CH EU N G
COLDWELL BANKER RESIDENTIAL BROKERAGE
$46,201,123
8
RANDY HATADA
R E/M A X K AUA I L I V I N G
$56,544,386
7
DONNI E PI N GARO
COLDWELL BANKER PACIFIC PROPERTIES
$88,942,100
6
BLAI R MYERS
T INA CH EU N G
75
10
YVONN E SUM M ERFI ELD
THE GOLD STANDARD GROUP WITH EXP REALTY
R E/M A X K AUA I L I V I N G
Rockville, MD
Kalaheo, HI
$41,823,604
68
c o n t i n u e d
TOP SALES PROFESSIONALS BY 2018 INDIVIDUAL VOLUME RANK
NAME
COMPANY
LOCATION
VOLUME
11
Randall Char
Char Luxury Real Estate
Las Vegas, NV
$41,818,236
12
Kenneth Er
Compass
Oakland, CA
$37,586,090
13
Leian Harosky
Coldwell Banker Pacific Properties
Kapolei, HI
$37,166,757
14
Janice Lee
Coldwell Banker
San Francisco, CA
$36,692,390
15
LuAnn Shikasho
EXP Realty of California, INC
Elk Grove, CA
$31,454,331
16
Carol Reen
Compass
San Francisco, CA
$31,370,000
17
John Messina
Daniel Gale Sotheby's International Realty
Cold Spring Harbor, NY
$30,873,450
18
Melanie Leung
Sequoia Real Estate
San Francisco, CA
$30,760,000
19
Lina Shah
Coldwell Banker Residential Brokerage
Oak Brook, IL
$30,401,750
20
Linda Lee
Keller Williams SD Metro
San Diego, CA
$29,714,475
21
Blair Myers
Better Homes and Gardens Real Estate
Warner Robins, GA
$28,829,134
22
Susan Borochov
Coldwell Banker Pacific Properties
Honolulu, HI
$28,253,064
23
Beth Chang
Coldwell Banker Pacific Properties
Honolulu, HI
$27,608,800
24
Randy Hatada
Xpand Realty
Las Vegas, NV
$27,290,684 $26,646,224
25
Amy Duong Kim
Compass
Chicago, IL
26
Iku Honda
Coldwell Banker Pacific Properties
Honolulu, HI
$25,707,900
27
Jessica Ye
Keller Williams Realty
Cambridge, MA
$25,614,699
28
Lisa Whittaker
Coldwell Banker Bain
Bellevue, WA
$24,447,000
29
Sabriya Scott
Scott Realty Professionals
Savannah, GA
$23,259,466
30
Sylvia Lee
Intero Real Estate Services
San Jose, CA
$22,689,884
TOP SALES PROFESSIONALS BY 2018 INDIVIDUAL SIDES RANK
10
NAME
COMPANY
LOCATION
SIDES
T11
Andrew Peters
Village Realty
Atlanta, Ga
63
T11
Leian Harosky
Coldwell Banker Pacific Properties
Kapolei, HI
63
T11
Tere Foster
Team Foster at Compass Washington
Bellevue, WA
63
T14
Amy Duong Kim
Compass
Chicago, IL
59
T14
Susan Kliesen
RE/MAX
Duluth, GA
59
16
Helen Nguyen
Point Honors and Associates, Realtors
Duluth, GA
58
17
Danny Leung
Century 21 Redwood Realty
Washington, DC
57
18
Judy Cuong
Portfolio Real Estate
Elk Grove, CA
56
19
Tim Hur
Point Honors and Associates, Realtors
Duluth, GA
55
20
Tram Chu
West USA Realty
Phoenix, AZ
50
21
Dana Hall-bradley
Better Homes and Gardens Real Estate
Celebration, FL
49
T22
Job Hammond
Dash Realty
Austin, TX
48
T22
Jessica Ye
Keller Williams Realty
Cambridge, MA
47
T22
Kenneth Er
Compass
Oakland, CA
47
T22
Li Huong Lanz
John L Scott
Happy Valley, OR
47
T26
Lina Shah
Coldwell Banker Residential Brokerage
Oak Brook, IL
44
T26
Bonnie Lai
RE/MAX Unlimited
Brookline, MA
44
T26
Linda Lee
Keller Williams SD Metro
San Diego, CA
44
29
Crystal Ansay
Real Living Diamond, Realtors®
Clovis, CA
43
30
David DeSantis
TTR Sotheby's International Realty
Chevy Chase, MD
43
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TOP SALES PROFESSIONALS BY 2018 INDIVIDUAL VOLUME RANK
NAME
COMPANY
LOCATION
VOLUME
31
Judy Cuong
Portfolio Real Estate
Elk Grove, CA
$21,835,667
32
Kawing Chiu
Tom Crimmins Realty
Staten Island, NY
$20,745,786
33
Annie Chang
Sequoia Real Estate
San Mateo, CA
$20,706,000
34
William Tong
Golden Land Investments & Financial, Inc.
Pasadena, CA
$20,013,000
35
Christie Xie
Keller Williams Realty, Nuage Group
Brighton, MA
$19,323,260
36
Tim Hur
Point Honors and Associates, Realtors
Duluth, GA
$18,402,911
37
Li Huong Lanz
John L Scott
Happy Valley, OR
$18,392,300
38
Susan Kliesen
RE/MAX
Duluth, GA
$18,314,982
39
Helen Nguyen
Point Honors and Associates, Realtors
Duluth, GA
$17,252,670
40
Li Xu
Areate Realty
Lake Mary, FL
$17,250,756
41
George Wang
Harvest Realtors
Manhattan Beach, CA
$17,194,000
42
Job Hammond
Dash Realty
Austin, TX
$17,165,456
43
Dana Hall-Bradley
Better Homes and Gardens Real Estate
Celebration, FL
$17,000,350 $16,748,554
44
Jamie Tian
Rodeo Realty
Los Angeles, CA
45
PJ Santiago
The Santiago Real Estate Team at KW Capital Properties
Fairfax, VA
$16,133,149
46
M Nobu Ito
Keller Williams
San Francisco, CA
$16,101,864
47
Maria Hsu
Coldwell Banker
Honolulu, HI
$14,784,500
48
Tony Ngo
Real Estate Performance Group
Clackamas, OR
$14,770,000
49
Bonnie Lai
RE/MAX Unlimited
Brookline, MA
$14,107,463
50
Julie Tran
Berkshire Hathaway Home Services
Irvine, CA
$13,877,800
TOP SALES PROFESSIONALS BY 2018 INDIVIDUAL SIDES RANK
NAME
COMPANY
LOCATION
T31
SIDES
Li Xu
Areate Realty
Lake Mary, FL
40
T31
Phil Chen
Sybarite
Burlingame, CA
40
T31
Herman Chan
Golden Gate Sotheby's Int’l Realty
Berkeley, CA
40
34
Randall Char
Char Luxury Real Estate
Las Vegas, NV
38 36
35
Moya Skillman
Team Foster at Compass Washington
Bellevue, WA
36
Kawing Chiu
Tom Crimmins Realty
Staten Island, NY
35
T37
Raquel Lavender
Keller Williams Realty Atlanta Partners
Stockbridge, GA
33
T37
Tony Ngo
Real Estate Performance Group
Clackamas, OR
33
T37
Janice Lee
Coldwell Banker
San Francisco, CA
33
T40
Susan Borochov
Coldwell Banker Pacific Properties
Honolulu, HI
32
T40
Christie Xie
Keller Williams Realty, Nuage Group
Brighton, MA
32
42
PJ Santiago
The Santiago Real Estate Team at KW Capital Properties
Fairfax, VA
29
43
Julie Tran
Berkshire Hathaway
Irvine, CA
29
T44
Elena Yu
Coldwell Banker Residential Brokerage
San Diego, CA
27
T44
Jocelyn Lomahan
Compass
San Diego, CA
27
T46
George Wang
Harvest Realtors
Manhattan Beach, CA
26
T46
Julie Chan
Coldwell Banker Residential Brokerage
Ronkonkoma, NY
26
48
M Nobu Ito
Keller Williams
San Francisco, CA
26
49
Jamie Tian
Rodeo Realty
Los Angeles, CA
25
50
Lori Goto
Realty Austin
Austin, TX
25
The Top Producers by Team category recognizes the top brokerages and firms within AREAA’s memberships. The collective leadership and team efforts of this elite list represent some of the top leading real estate firms in the country. View the winners of the top two Team categories, determined by Team Volume and Team Sides.
TOP SALES PROFESSIONALS
TOP SALES PROFESSIONALS
BY 2018 TEAM VOLUME
BY 2018 TEAM SIDES
1
2039
LONG DOAN
D EL EO N R E A LT Y
R E A LT Y G RO U P, I N C.
Palo Alto, CA
Coon Rapids, MN
$585,000,000
2
505
C A LV I N GON G
C A LV I N GON G
R E/M A X A DVA N C ED
R E/M A X A DVA N C ED
Temple City, CA
Temple City, CA
3
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1
MICHAEL REPK A
2
12
$853,540,013
$509,079,097
3
323
LONG DOAN
SAMANTHA TOV
R E A LT Y G RO U P, I N C.
P O RT FO L I O R E A L ES TAT E
Coon Rapids, MN
Elk Grove, CA
TOP SALES PROFESSIONALS BY 2018 TEAM VOLUME RANK
NAME
COMPANY
LOCATION
VOLUME
4
Ian MacLeod
LuxuryHomes.com
Honolulu, Hawaii
$174,455,643.00
5
Hudson Santana
Santana Properties
Cambridge, MA
$153,216,899.00
6
Mike Chou
The Chou Team - Keller Williams
Alhambra, CA
$146,061,080.00
7
Samantha Tov
Portfolio Real Estate
Elk Grove, CA
$120,439,636.00
8
Zar Zanganeh
Luxe Estates & Lifestyles
Las Vegas, NV
$79,951,574.00
9
Kenny Fast
Climb Real Estate
San Francisco, CA
$70,052,000.00
10
Johnny Rojas
Century 21 JR Gold Team Realty
Garfield, NJ
$69,981,860.00
TOP SALES PROFESSIONALS BY 2018 TEAM SIDES
RANK
NAME
COMPANY
LOCATION
SIDES
4
Johnny Rojas
Century 21 JR Gold Team Realty
Garfield, NJ
285
5
Michael Repka
DeLeon Realty
Palo Alto, CA
238
6
Zar Zanganeh
Luxe Estates & Lifestyles
Las Vegas, NV
219
7
Mike Chou
The Chou Team - Keller Williams
Alhambra, CA
209
8
Hudson Santana
Santana Properties
Cambridge, MA
184
9
Alexander Phan
Phan Hall Property Group
Portland, OR
103
10
Elizabeth Goodchild Berkshire Hathaway Home Services Starck Real Estate
Palatine, IL
94
A-List Highlights
sean phalon Absolute Home Mortgage/ Connected Capital Pursuing a career in the mortgage industry is not something most 19-year olds would even consider. However, for AREAA Northern New Jersey’s Sean Phalon, this was just the start. Sean Phalon is a top producing mortgage originator from AREAA Northern New Jersey where he leads a team at Absolute Home Mortgage. When Sean was introduced into the AREAA Northern New Jersey leadership, the local board was quick to notice and recognize the high level of potential in this young professional. Since the age of 19, Sean has been active in the mortgage industry and was even able to find himself in a successful leadership role by the age of 22. At 22, Sean found himself sitting across the desk of his company’s CEO, explaining what he would do with several thousands of dollars in marketing budget each month. His methods paid off. Sean quickly transitioned into a role as an independent loan officer and pursued this with risk, not knowing what his first year as an originator would look like. With two daughters and another on the way – the first year seemed daunting. But as anyone who knows Sean Phalon can quickly tell you, adversity and challenge are two of Sean’s greatest motivators. This year alone, Sean successfully funded nearly 200 units for just over $43M – and he’s not even 30 years old. When asked if he ever thought this level of success was possible, Sean was quick to respond and let us know that he doesn’t consider himself a top producer. It is apparent, Sean only competes with himself. “I know there is still so much more for me to do, that I feel like I’m just getting started. From the beginning, I knew that I loved to work hard. I was always working against 14
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guys who were 30-40 years older and I had nothing else, but I made sure that I would always outwork and outlearn everyone”. Sean’s drive and work ethic has proven time and time again, that motivation, drive, and hard work will continue to produce results and make even the wildest of goals a reality in due time. With his success and motivation, it’s no surprise that others in his field would look at Sean’s history and ask: How? But for Sean, “at the end of the day, my number one goal is to be the best that I can be. And, if I haven’t hit my potential to pursue whatever is in front of me, I want to do my best and see what can happen”. The accolades, titles, and numbers ultimately don’t mean much when it comes to your personal best. All of those things come when you are working as hard as you can and giving your full devotion to your craft. As Sean told us, having the peace of mind he has is being able to have the freedom to do what you want to do, and truly enjoy it. And for Sean, he truly enjoys and is driven in his career and has made a successful legacy by pushing himself year after year. Sometimes, your best motivation can be found in the competition you have against the person you were yesterday.
zar zanganeh Luxe Estates & Lifestyles Respect is so crucial in a people-centered profession like real estate. It’s all about the relationship that forms between the agent and the client. For Zar Zanganeh, kindness and respect for others have been virtues that have guided his nearly 20 years as a veteran luxury expert in the competitive markets of Las Vegas, Nevada. Not only is Zar one of our proud LGBT members, but he was also raised by Iranian parents in Spain. The values instilled in his youth have successfully transferred over to Zar’s illustrious career in real estate and taught a valuable lesson: kindness and respect can be surprising allies when you look at the long road of real estate. The key, Zar explained to us, is to always focus on the relationships and not on the deals. Whether the property is going for $10M or for $100K, you are still working with another human being with a story, that deserves to be treated you would hope someone would treat your parents, your friends, and yourself. This idea has resonated with Zar, especially when looking back on one instance where his willingness to accommodate his clients revealed he was working with Michael Jackson. Although this story is well known around Zar’s colleagues and friends, it isn’t the only instance where kindness and respect showed favor on Zar’s success. Years ago, Zar shared he received a referral on a billionaire from a Forbes 500 company who was going to be in Las Vegas for 24 hours and was absolutely, positively going to buy a house. The deal was simple, Zar would show the client the houses and the referring agent would take 75% of the cut. Zar would go on to spend an entire day with a very well-to-do client who eventually did not buy anything. What originally was supposed to be a day, turned into weeks, turned into months
– but nothing ever came into fruition. Years later, when the housing market crash started to devastate the real estate markets, Zar’s company found itself a premier luxury real estate firm in a time where nobody was looking to purchase real estate. As fortune would favor it, that same client returned to Zar and explained that he always enjoyed his experiences with him and wanted to buy a few small houses in the Las Vegas area. Zar and the client worked together, and as always, Zar was able to demonstrate his trademark charm and professionalism. A week later, the same client returned and informed Zar that he would be investing in over 1,000 homes in his area – all at a time where Las Vegas was one of the hardest-hit markets in the country. In the grand scheme of things, this client not only pushed Zar’s firm, Luxe Estates & Lifestyles, to thrive in a time where every other company was suffering, but the client also was able to purchase a massive listing and establish a longstanding relationship with Zar. And to think, all of this could have been missed if Zar simply didn’t agree to meet with this client the second or third time they requested viewings. Sometimes, patience and kindness can go a long way when willingness is present.
A-List Highlights
jamie tian Rodeo Realty Jamie Tian is a member of NAR’s elite 30 Under 30 list. At the age of 28, Jamie has been a luxury expert working the competitive Beverly Hills and Los Angeles luxury markets for over seven years. With so much accomplishment early on in her career, it was surprising to discover that Jamie was initially planning on pursuing a career in law during her final year at UCLA. As Jamie puts it, “I had a light course load during my last year at UCLA, and I had already submitted my applications and exams – so I decided to get my real estate license and make some money before graduating”.
Did you get that? Jamie was a senior at UCLA, one of the most rigorous universities in the nation. During her senior year, she not only completed her capstone coursework – but also studied for and passed pre-law exams, got accepted into law school, and got her real estate license. It’s at this point in the story we should mention Jamie is not like many other millennials. In fact, Jamie comes from a traditional Chinese family that worked very hard in each of their fields. Coming from a family of engineers with PhDs helps us understand the absolutely unbelievable academic success Jamie has been able to demonstrate. And, however much law school seemed like the original plan, real estate soon became the focal point of Jamie’s life. In her senior year, Jamie was able to complete and receive her real estate license, and even close a listing before her graduation. 16
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Although some look down on the profession and craft we esteem so highly, real estate is a passion for Jamie and so many other real estate professionals. But to those who are in the industry and devote so much of their time, energy, and passion to real estate, we all know this is not true. Many of us have at one point experienced others looking down on the job title of the real estate agent with less-than-kind connotations. But to those who pursue real estate with ambition, like Jamie, real estate is a passion, devotion, craft, and lifestyle that rewards so highly and is deeply satisfying. Jamie’s aspirations for herself are high. Her journey has been successful, but also challenging, competitive, and at times gut-wrenching. When we asked Jamie why she decided to leave behind so much hard work to pursue real estate – a career with absolutely zero guarantees on success, she was candid with us about the importance of following your passions. “You only have one life, so make the most of it. Do what you are passionate about because it is hard to be happy when you aren’t doing something you love!"
grow the neighborhood bankofamerica.com/homeowner
What would you like the power to do?® Equal Housing Lender. Credit and collateral are subject to approval. Restrictions apply. This is not a commitment to lend. | AR46M97B | AD-08-19-0680.A | 08/2019
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Bank of America, N.A.
As measured by residential transaction sides.
RESIDENTIAL
LUXURY
COMMERCIAL
The Top Originators category recognizes AREAA’s elite mortgage professionals. These AREAA members make up a leading group of individuals that produce both the highest total volume and number of units funded across the US mortgage industry. Based on 2018 production numbers, the top 15 applicants in the Total Volume and Total Units Funded categories make up these categories of leading mortgage and lending producers.
TOP MORTGAGE LOAN ORIGINATORS
TOP MORTGAGE LOAN ORIGINATORS
BY 2018 VOLUME
BY 2018 UNITS FUNDED
1
$180,317,584
1
365
SHASHANK SHEKHAR
KHAI N GUYEN
A RCU S L EN D I N G
A B S O LU T E M O RTGAG E &
San Jose, CA
L EN D I N G
Dallas, TX
2
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2
356
JOANNA YU
SHASHANK SHEKHAR
U S BA N K
A RCU S L EN D I N G
Campbell, CA
San Jose, CA
3
18
$147,890,948
$138,088,520
3
323
MICHELLE KI M
LY S A CATLIN
H S B C BA N K, U SA
CALIBER HOME LOANS, INC.
Los Angeles, CA
Kirkland, WA
TOP MORTGAGE LOAN ORIGINATORS
BY 2018 VOLUME
RANK
NAME
COMPANY
LOCATION
VOLUME
4
Lysa Catlin
Caliber Home Loans, Inc.
Kirkland, WA
$132,328,595.00
5
Nirmalya Modak
Wells Fargo Home Mortgage
San Jose, CA
$131,387,617.00
6
Caroline Ke Liu
U.S. Bank
San Francisco, CA
$116,968,145.00
7
Lillian Wong
PNC Bank
Seattle, WA
$106,891,896.00
8
Khue Dang
PNC Bank
Bellevue, WA
$102,513,064.00
9
Aileen Hom
Wells Fargo Private Mortgage Bank
San Francisco, CA
$100,437,037.00
10
Jenchi Chen
Citizens Bank
New York, NY
$96,293,711.00
11
Khai Nguyen
Absolute Mortgage & Lending
Dallas, TX
$80,083,430.00
12
Jasmine Cheng
US Bank
Walnut Creek, CA
$76,208,965.00
13
Choe Hung
US Bank Home Mortgage
Pasadena, CA
$72,400,135.00
14
Winnie Ho
HSBC Bank, USA
Millbrae, CA
$59,100,000.00
15
Karen Chiu
New American Funding
Pasadena, CA
$55,365,171.00
TOP MORTGAGE LOAN ORIGINATORS
BY 2018 UNITS FUNDED
RANK
20
NAME
COMPANY
LOCATION
4
Jenchi Chen
Citizens Bank
New York, NY
206
5
Sean Phalon
Absolute Home Mortgage Corp.
Hackensack, NJ
178
6
Joanna Yu
U.S. Bank
Campbell, CA
163
7
Nirmalya Modak
Wells Fargo Home Mortgage
San Jose, CA
154
8
Khue Dang
PNC Bank
Bellevue, WA
144
9
Michelle Kim
HSBC Bank
Los Angeles, CA
142
10
Choe Hung
US Bank Home Mortgage
Pasadena, CA
132
11
Caroline Ke Liu
U.S. Bank
San Francisco, CA
131
12
Karen Chiu
New American Funding
Pasadena, CA
113
13
Jasmine Cheng
US Bank
Walnut Creek, CA
109
14
Lillian Wong
PNC Bank
Seattle, WA
93
15
Aileen Hom
Wells Fargo Private Mortgage Bank
San Francisco, CA
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VOLUME
AREAA GOES (BACK) TO WASHINGTON D.C
T
he Asian Real Estate Association of America is a membership organization comprised of thousands of Asian American and Pacific Islander professionals working in the real estate and mortgage industries. Over 17,000 members have joined AREAA through our 42 chapters across the U.S and Canada. Our organizational focus is to serve our membership through professional development, education and advocacy. Every year, AREAA members from all over the country travel to Washington D.C. to meet with our nation’s Representatives and Senators to advocate for greater access to homeownership for the AAPI community. Each year, we focus on three critical policy points that aim to lower the barriers for AAPI to purchase homes and access mortgages. At our 2019 Policy Summit, AREAA took over 100 appointments with members of Congress, Senate, and government agencies like the Consumer Financial Protection Bureau, Department of Housing and Urban Development, and the Federal Housing Finance Agency, to advocate our policy initiatives on behalf of the AAPI community. The three issues that we focus on in our policy initiatives begin with recognizing the need for greater language access throughout the mortgage process. Acquiring a mortgage is a difficult, complex process that even native English
speakers struggle to fully understand. AREAA has asked for the support of FHFA to continue funding it’s Language Access Multi-Year Plan in order to produce language resources in Chinese, Japanese, Vietnamese, and Tagalog. AREAA met with the leaders of the Language Access plan at FHFA this year to learn more about the program, while providing feedback on the impact it will have for clients of AREAA members. Earlier this year, FHFA decided to pull back the Language Access MultiYear Plan until further evaluation. However, AREAA will continue to speak on and advocate for the need of language access in the housing and mortgage markets for the AAPI community. Second, access to alternative credit in the mortgage process is our next critical focus. Many Asian Americans historically hold thin credit files. Allowing the mortgage market to accept alternative forms of credit to quality recipients of mortgages allows many Asian Americans previously unable to meet the standards of a traditional mortgage to demonstrate their mortgagereadiness by proving their qualifications in new ways. Since our time on Capitol Hill, AREAA received news in August that FHFA would allow Fannie Mae and Freddie Mac, the two largest mortgage-finance firms that back nearly half of all mortgages in the US, to consider and explore alternative creditscore models.
The third and final policy point we advocate for is greater inclusion and diversity in lending institutions and the government agencies governing and regulating those industries. AREAA has supported the expansion of the role and significance of the Office of Women and Minority Inclusion. The financial regulatory entities that oversee the mortgage industries are known as some of the least diverse fields throughout the private and public sectors, and AREAA believes that greater expansion of these diversity initiatives will allow these industries to better serve and represent minorities such as the Asian American and Pacific Islander communities. These policy points will open up vast new opportunities for AAPI applicants to overcome traditional barriers to homeownership and enter into mortgage markets as effective, propserous consumers to lenders. AREAA is committed to continuing the fight for homeownership for the AAPI community and is continuing to work alongside leaders of the House, Senate, and government agencies that directly impact these policy points. Our goal for the upcoming year is to encourage AREAA members to engage with their local governments on these critical issues, alongside local issues prevalent to the communities in which AREAA members live and work. Together, we can work to serve the AAPI community and close out the homeownership gap.
With James Huang & Tom Truong
Q+ As we look to a new year for our organization, we embrace our tradition of welcoming a new president for AREAA. For over 16 years, we have been truly blessed with exceptional leadership. And, each year our organization has grown due to the exemplary leadership demonstrated before our membership in our president and executive board. It’s with thankful hearts that we say goodbye to Tom Truong, as he leaves the AREAA masthead after a year of outstanding leadership that propelled AREAA into another year of growth. As we look ahead to a new chapter, we are excited to welcome Jim Huang as our new president. We sat down with both Tom and Jim to discuss their experiences in real estate, their stories, and their vision for the AAPI community and AREAA.
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What made you so passionate about real estate and how has AREAA supported it? Tom: Up until 7 years ago, I hadn’t heard about AREAA. But the mission of homeownership and greater opportunities for Asian American families has always been near and dear to what I am passionate about. Sustainable housing is a right that I hope all Americans and all minorities in this country can experience because it is a means by which families grow and thrive. I served on the board of Boston’s Habitat for Humanity foundation and eventually joined AREAA, but since day one – I have stood up for affordable housing and AREAA has been a fantastic community that has only allowed me to continue my passion.
Jim, what led you to where you are today? While I was at my previous company, many different offers came across my desk to merge my company. I was at the crossroads of what to do. One of my ambitions was to create a top ten commercial real estate firm with a minority at the helm. I knew that any possible merger meant that I may have just been a cog in another company, so the road became clear to me. I saw a difference that I could make. I saw how technologies were changing, how large offices are gone and how commercial real estate was becoming more agentcentric. The level of collaboration was becoming more prevalent, and this aligned with who I knew myself to be as a professional in the industry. So becoming a cog wasn’t nearly as attractive a route, when comparing and considering the possibilities I knew I could pave for myself. Over time, my company was able to diversify our business and create a referral system. We were highly motivated to increase our pipeline through diversity and I eventually became one of the very few minorities in leadership amongst a very traditional industry.
Jim & Tom, even with the success that you’ve achieved today – are there instances of discrimination that still stand out to you today and shape your journey?
speak up in segments, we would be several small voices. We need to have one common voice and we can accomplish this goal by partnering with other groups and professionals to magnify our goals.
Jim: It was easy to be typecast. Despite the fact that I grew up here in the U.S. and have no accent, there were often times where I was only seen as the “Asian guy”. Back then, it was common for others to perceive that my clients were exclusively Chinese because of my name and appearance. It was difficult because my race is only part of my identity. But to so many around me, my race was the most obvious difference between us – so it was easy for them to just assume that other parts of me were different as well. One stereotype that existed back then, before the movie came out, was that because I am Asian – all of my clients must also be part of that Crazy Rich Asian segment and not a fully integrated part of the community.
Jim: Yes, I agree. I think it’s more than just real estate. Back then, it was a language barrier. But now, the challenges our communities face are different. We need to create leadership, growth, collaboration, and opportunity so that we can collectively grow. We need to come together, not just as an organization, but as a collective group of cultures and races that are trying to thrive in this country. If we go alone, we might be able to make a few strides. But, if we go together, there’s no possibility of what we can achieve.
Tom: My first career was in insurance and I was able to reach the secondhighest position in the company. I worked really hard for everything I have achieved, but I was still hungry for more. However, no matter what I tried, no matter how hard I worked – there wasn’t any more room for growth. Eventually, I discovered that because of my race and because of my last name, any visible position of leadership would not be given to me.
Jim & Tom, Why do you think it’s important for AREAA to exist? Tom: You know, Asian American is such a funny phrase. I think to so many Americans, because Asian Americans may look alike, it can be easy to forget that we all come from different countries, backgrounds, stories, cultures, languages, and experiences. The families that define the title of AAPI are unique, different, and beautiful. However, we do have similar issues as minorityAmericans. If we were only to
Tom: AREAA creates a community and a family that does all of this: it brings professionals from different backgrounds together, it helps create opportunities for professionals to become better leaders, and it allows us to amplify our voices for what our needs are. Jim. Yes, and I also just want to see people succeed. I want to see members of our communities thrive and I want to be able to have a direct impact by coming alongside other Asian Americans and providing opportunities for them to succeed and win.
As AREAA continues to grow, what has been (or will be) your personal mission? Jim: AREAA is growing, it’s a fact. But not only is AREAA growing, but our community of AAPI families is also growing too. Our State of Asia America Report and other sources are all providing data that shows one thing: Asian Americans are growing rapidly and they are becoming more and more of this country that we all love so much. So, as AREAA continues to grow, I want to continue
to see our organization be enhanced. We still have a lot of room for improvement in many areas. I want to see members give back to their community. I want to see, just like Tom always says, our organization builds up bench strength in preparing and equipping the next generation of leaders. I want to provide awesome training and develop excellent AAPI professionals that can go out there and represent who they are and where they came from. Tom: Because of AREAA’s value of building and developing leaders, we have people like Jim. Jim’s passion for our organization isn’t forced, it’s all genuine. And even for me, I love AREAA, not because I have to, but because there is so much in this organization that I believe in and there is so much opportunity that I believe this organization can bring to all of us. Moving forward, I want to continue to see us build up that bench strength. I want to see AREAA develop, train and equip more and more professionals, regardless of where they come from or where they work, to become examples for our community. It’s not about taking the spotlight. No, it’s all about building up excellence. Jim: A true sign of leadership is not worrying about who is doing what and when or who gets the credit. No, it’s about all coming together and working toward a goal and helping those around you reach their full potential. So for me, I’ve had great trust in Tom, because for so long Tom has given me his blessing to give new ideas, try new things, and try to expand our organization. We want a superstar team of outstanding MVPs, not just one person or a few people at the top. Tom: Exactly. True leaders don’t care about who is taking the credit, they just want to do things right and make sure that the train is moving at its full potential. So when I see leaders coming out of AREAA, even people like Jim, who is going to be the next president – I celebrate and feel proud. It’s all about growing these servant-leaders, not about trying to get into the spotlight.
Where do you want to see AREAA in 5, 10, or 50 years? Tom: Tom: I want AREAA to continue to specialize in housing for the AAPI community. I hope we can be the leading voice and that organizations and our local governments would know us as the experts on both housing and on the AAPI community. Jim: I hope one day we can have AREAA members present to speak up for the communities. I want our members to advocate and fight for fewer barriers to homeownership. I would love to see AREAA in front of the House or Senate one day, speaking on behalf of our community and being recognized as a leading voice that is a powerhouse for advocacy. Tom: My hope is that one day, however long it takes, AREAA becomes a household name. I hope that AREAA becomes the one-stop shop to learn how to do business with the AAPI community. If you are someone who wants to serve the AAPI community in real estate, I would hope that we grow so that we can open up doors for anyone who is interested. It also would be great to see AREAA become the voice of the AAPI community before the Senate and House, ready to fight for homeownership and all the issues that make it difficult for minorities and Americans to become homeowners. Jim: I also think it’s important to not only be optimistic, but strategic in what our organization will look like when we accomplish our goals. When the day comes when the AAPI community is no longer 12% behind non-Hispanic White Americans in homeownership, but our homeownership numbers are actually exceeding and leading – what then? One day AREAA will succeed and there will be no more gap in AAPI homeownership, and when that day comes I want our organization to still serve an important and vital purpose for the AAPI community. Tom: Yes and I think that means that not only next year but in the years to come, we must evolve and grow both domestically and globally. AREAA must evolve and grow into a connector 24
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of sorts, that becomes a pillar in the AAPI community in all areas of life. For example, we’re starting the AREAA Youth Program where we are continuing to build bench strength by investing in and educating the next generation of AAPI leaders. We’re working on developing our leaders but also looking to see how we can continue to provide practical value to our membership. All of this is in efforts to not only be a connector in real estate but to be a connector in many other areas as well.
Tom, what are some of your tips for Jim as he enters the President’s role? Tom: As the great Ivan Choi once told me: pace yourself. I would recommend taking the time to slow things down and think more methodically – which is very difficult in this position with all of the traveling and high levels of demands that need your attention. But more importantly, you don’t want to burn out. Jim and I are both drivers. But, I get tired sometimes. The road and travel life get very lonely and you gain so much, but you also miss out on time for yourself and your family. So there needs to be a balance. It’s not always going to be a perfect balance nor will it always be 50/50, but you need to pace yourself. Make friends along the way, leverage the leaders and the fantastic board we have that leads our organization. Allen Okamoto, one of AREAA’s founders, told me that there is such a strong community in our leadership team that this isn’t a job that is to be done alone, it really is a family that cares. Second, I would say it’s important to pick a few things you are passionate about and focus on them, but plant the seeds of the other issues you won’t have enough time to get to. Not everything you want to do will get done in just one year, but maybe one day something will take off. Just like a bamboo tree, something you started could suddenly spring up 10 years later. It could be AREAA Youth, it could be something else. But it’s important to realize that you must truly hone in on some issues while developing others for later.
Why is it valuable to join AREAA? Jim: Friendships and relationships. I love going to our events for education and learning opportunities. But the real thing that has provided so much value and tugged on my heartstrings is the sense of community I feel that I am a part of. AREAA has allowed me to develop strong connections with other members. Our organization is so diverse, we have so many different kinds of people from such diverse backgrounds and stories. I love that. We have the ability to not only foster friendships but valuable relationships with our networking opportunities. But, I think to get the full effect you really need to have some gumption and take the initiative. Tom: The personal growth you get is unmatched. You get an organization in AREAA that introduces you to so many people that are different than you but becomes this second family. Everyone is so friendly and eager to see one another succeed and thrive. It’s inclusive and everyone is friendly. But just being friendly doesn’t mean anything. This is a place where others will challenge you and help you to personally grow. Any AREAA member that you talk to who has been around us for a while, they’ll tell you they didn’t come back for the referrals. They renew year after year after year because of the family and culture and how AREAA helped them grow as an individual. You can’t get that anywhere else.
What are the biggest challenges facing AREAA? Tom: Tom: So we are spread across the nation. We’re a big organization. Sometimes, newsletters and emails don’t work. So I am always looking to see how we can share this culture of AREAA, this passion for the AAPI community. I’m eager to find new ways to innovate so that we can better share what AREAA is all about. Jim: I think going back to basics. We need to continue to create enthusiasm and excitement at a chapter level. Creating that infectious excitement and
passion for AREAA will cause people to want to serve, step up in leadership positions and become more involved. But it starts at the local level. We need to raise more sponsorships, train more leaders, and collaborate with our leaders more. Let’s build up the basics and build up leaders who can pioneer and blaze a new path for AREAA.
Did you ever think either of you would reach this level of success? Did you ever think AREAA would blossom into what it is today? Jim: I don’t feel successful. I still feel like there’s so much left to be done and I’m just getting started. My mid-life crisis made me grounded and I now make sure that wherever I am, I work to make my organization and those around me better. Always leave something better than the way you found it. I want to make an impact. Whether that’s through service, friendship, relationships – I am focused on making an impact and making AREAA and my company better each day. Tom: When I get to the finish line, I just push the finish line further out. I am continuing to evolve and find new things to challenge me. I resonate with Jim. I know some look at me and think that I am successful, but I am not there yet. I continue to move the finish line forward and still see bigger and better ways of doing things. Part of that looks like helping people succeed in massive ways. I want to help my agents, AREAA members, everyone around me to succeed and thrive
CONNECTING CAPITAL AND OPPORTUNITY www.areaaglobal.com AREAA Global offers an unparalleled opportunity to connect with a network of industry experts serving international clients from Asia and around the world. To learn more about contacting or becoming an AREAA Global partner, please visit www.areaaglobal.com.
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CONGRESSWOMAN
GRACE meng
Congresswoman Grace Meng represents New York’s 6th district in the borough of Queens. Today, over half a million Asian Americans live in Queens County and the Asian American population has grown by over 51% since 2000. With a high density of Chinese Americans and Korean Americans living in her district, the Congresswoman has been an exemplary leader of her diverse New York community. Congresswoman Meng has entered the House from her first day with a distinct prowess and vision for fighting for greater rights and representation of women and the Asian American community. Congresswoman Meng has devoted her illustrious career in the House advocating for the basic needs of the underserved. Congresswoman Meng has served in the House since January 3, 2013, and has been part of the AREAA community since her time campaigning for a seat in the House of Representatives. Since her time in the House, Congresswoman Meng has been fighting for the AAPI community and for equal homeownership. For her work, AREAA presented her with the AREAA Advocate Award this year at the 2019 AREAA Policy Summit in Washington D.C., where past individuals like Congressman Al Green previously won the award. Representative Meng’s advocacy for the Asian American and Pacific Islander communities is inspiring and
aligns with AREAA’s vision for equal opportunity for the AAPI demographic. In fact, many AREAA members live in her district and are represented by her outstanding leadership. Not only is the Representative a significant force for the AAPI community, but is also a rising figure within CAPAC, the Congressional Asian Pacific American Caucus.
AREAA ADVOCATE AWARD
AREAA members offered to share a few words about the Representative and have described Congresswoman Meng as demonstrating extraordinary kindness, compassion, and pride in our shared AAPI heritage. Representative’s work in the House includes introducing resolutions aimed at recognizing the Lunar New Year as a significant holiday to represent the United States’ growing AAPI population. Representative Meng also introduced a House Resolution to commemorate and honor the Chinese railroad workers that built the Transcontinental Railroad and their contribution to the growth of the United States. And, Representative Meng also introduced a resolution for the potential creation of a National Museum of Asian Pacific American History and Culture. For all of her work and continued partnership, we are proud to award Congresswoman Grace Meng of New York’s 6th District with the AREAA Advocate Award.
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Phil Bracken
P O L IC Y CHA MPI O N O F THE YE AR AWARD Phil Bracken is a longtime friend of the Asian Real Estate Association of America and a crucial ally in AREAA’s vision for greater AAPI homeownership. Throughout his illustrious career, Mr. Bracken has played and continues to play a critical role in not only influencing his organizations to familiarize and align with AREAA but to also recognize the challenges facing AAPI families in homeownership. Mr. Bracken first joined the AREAA family during his time with Wells Fargo. As an executive in one of the largest organizations in the banking industry, Mr. Bracken was one of the only professionals in his position to acknowledge the importance of organizations like AREAA. After his time with Wells Fargo, Mr. Bracken transitioned into various leadership roles within other organizations, including our friends at Quicken Loans, Radian, and VantageScore. At each stage of his career, Mr. Bracken has been known for his outstanding leadership and his willingness to develop the next generation of leaders. Kindness and guidance are two words Mr. Bracken’s colleagues will consistently use when describing him. This is especially true when examining Mr. Bracken’s genuine interest and passion for helping those around him. Mr. Bracken has been a champion of AREAA and an active supporter of our organization and the AAPI community throughout his career. Mr. Bracken has been a vital advocate for AREAA and brought about numerous strategic relationships that have helped to amplify AREAA’s voice for the AAPI community in homeownership. “When I think of Phil, with respect to the AAPI communities and AREAA, it is simple: his passion for equality and recognition of the AAPI communities is relentless and authentic. He is all about authenticity; there are no hidden agendas in his fight for equal, non-discriminatory treatment. He has extraordinary respect for AREAA, its principles and what it stands for. He is driven by AREAA’s mission for fair housing and AREAA’s high standard of ethics”. – Barrett Burns, President & CEO of VantageScore Solutions, LLC As AREAA advocated for greater access for alternative credit in recognition of the AAPI communities’ historic problem of thin credit files, there again Mr. Bracken arose as a vital ally. Through Mr. Bracken, VantageScore continued to support AREAA and our initiatives aimed at improving access to homeownership. Today, VantageScore is blazing the path as pioneers in access to alternative credit models. Understanding the importance and need for alternative credit not just for the AAPI community, but for all Americans interested in mortgages and homeownership, is a just goal to pursue in our collective efforts to increase homeownership. The goal and vision of supporting all Americans to become homeowners is a cause that has brought about so much of AREAA’s success and also our friendship with Mr. Phil Bracken. It was our honor to present Mr. Phil Bracken the Policy Champion of the Year Award for his work with VantageScore and his long-standing relationship with AREAA in policy and advocacy.
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gregg orton
AREA A CO MMU NI T Y SERV ICE AWARD
It is often difficult to group together all races, cultures and ethnicities under the banner of Asian American or AAPI. Our varied cultures and experiences can contrast, but still come together to share a common experience as immigrants, minorities, and Americans. When we come together, our collective voices speak louder and are more powerful. The National Council of Asian Pacific Americans (NCAPA) is a force that brings together a coalition of 34 Asian Pacific American organizations from across the country to create one unified voice that advocates for the Asian American and Pacific Islander communities. AREAA was proud to join this coalition in 2019. NCAPA is led by Gregg Orton, the National Director and longtime friend of AREAA who leads the coalition in developing policies and strategies to advance and address the needs of the AAPI community. Mr. Orton spent nine years working under another longtime AREAA ally, Congressman Al Green. During his tenure in Congressman Green’s office, Mr. Orton dedicated his work and passion for the AAPI community by serving as a mentor for other AAPI staffers in the House. Mr. Orton’s legacy in the House has been a fundamental foundation in AREAA’s relationship with Congressman Green’s office, where he has surely left his imprint on the office’s ongoing dedication to the needs of the AAPI community. From his first year in DC as part of the Asian Pacific American Institute for Congressional Studies (APAICS) to his final year as Congressman Green’s Chief of Staff, Mr. Orton has demonstrated excellence in policy and public service on behalf of Asian Americans everywhere. For his continued work in influencing policy with the interests of the AAPI community in mind, AREAA was proud to award Gregg Orton the AREAA Community Service Award. Mr. Orton continues to be a champion for AAPI housing issues and has been a critical voice in shaping the discussion around the upcoming 2020 Census and the proposed citizenship question. Throughout our legislative and policy efforts, AREAA continues to rely on our partnership with Gregg Orton and NCAPA to keep our organization educated, and involved in any and all matters that relate to the AAPI community and homeownership. AREAA is proud to join the ranks of other organizations that align with NCAPA’s vision, mission and values. Together, we believe that our diverse community can create a mosaic of cultures, backgrounds, and shared experiences that can act as a powerful voice speaking up and behalf of the AAPI community in the political arena.
2019 best of areaa
rising star
Rising Star The Rising Star Award recognizes the AREAA chapter with the strongest growth in chapter strength and emininence in AREAA’s largest operations. This year, AREAA has recognized LA Coastal as the Rising Star for their continued growth, outstanding events, and unhindering commitment to serving the AAPI community in their region.
Membership Drive The AREAA Membership Drive award is given to the local chapter who most effectively markets, communicates, and executes membership renewal. This chapter achieves the highest number of member growth and retention after renewals are complete. AREAA is proud to award Tri-County as the winner of the Membership Drive for its successful renewal campaign.
membership drive
Best Gala Each AREAA Chapter plans a gala for their membership and local real estate community each year, where they also install their new board members. AREAA Galas are large events and require enormous effort and organization. For their time and dedication, AREAA presents DallasFort Worth with the Award for Best Gala.
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best gala
2019 best of areaa
community outreach
Community Outreach Outreach and philanthropy are core values to AREAA. Each year, AREAA chapters gather their membership for Community Outreach Days. Members come together and give back to their community through organized acts of service. This award recognizes the AREAA chapter with the most successful community outreach campaign. AREAA is pleased to award AREAA CA Orange County with the Community Outreach Award.
policy
Policy The annual AREAA Policy Summit is one of the most important events in our organization. Each year, we encourage chapters to send their members to Capitol Hill to meet with House and Senate leaders in order to advocate for the AAPI community and AREAA’s policy points. For both the highest number of members participating and number of meetings completed, we are proud to award AREAA DC Metro with the Policy Award.
Social Media Champion Utilizing social media to communicate with membership is essential in keeping AREAA on the cutting edge. The Social Media Champion Award recognizes the chapter who most effectively utilizes all social media and digital marketing platforms to communicate with their membership. AREAA is pleased to recognize AREAA San Diego as the Social Media Champion.
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social media champion
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2019 chapter of the year The AREAA Chapter of the Year is one of our organization’s most prestigious recognitions. In order to be recognized as Chapter of the Year, the winning chapter must demonstrate not only consistent excellence in ongoing engagement with AREAA National events and initiatives, but also demonstrate the outstanding operation of their own chapter in all aspects. Because of their chapter’s outstanding participation with all AREAA events, individual excellence and dedication to their membership, we are proud to award AREAA Boston as the 2019 Chapter of the Year! Congratulations to this outstanding chapter for winning this award once more, and for hosting the 2019 AREAA National Convention!
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BOSTON
A supportive community carries unlimited possibility.
With the support of families and communities, we create brighter futures for us all. usbank.com/ourcommunity
U.S. Bank is proud to support the AREAA 2019 national convention.
Through your efforts in the No Other Campaign and your 3 Point Plan, the AAPI community has greater access to homeownership. Realogy commends AREAA on their achievements over the past 15 years and looks forward to seeing our Asian American community reach new heights. Member FDIC. ©2017 U.S. Bank. 170353C 3/17
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© 2018 Realogy Holdings Corp. All Rights Reserved. All logos and trademarks owned or licensed by subsidiaries of Realogy Holdings Corp. Each franchised office is independently owned and operated. Any affiliation by a real estate sales agent with a Realogy franchise brand is intended to be that of an independent contractor sales associate.
R E A LO G Y I S A P R O U D S U P P O R T E R O F A R E A A
FOUNDERS UPDATE As we reflect on AREAA’s 16-year history, we cannot help but be in awe of the organization’s accomplishments but most especially, the people who make it happen. In 2003, the idea of forming a group serving the AAPI market was simply that – an idea. Little did we know that this idea would give birth to an organization of now 42 chapters, over 17,000 members and three national events coast-to-coast. Many are amazed at the level of success that we have achieved which can be attributed to a singular cause – the people behind AREAA. Just look around you during any of our events and there’s no denying the infectious energy and vibe you get from leaders like Tom Truong, Randy Char, and many others. Or talk to members like Lisa Nguyen from Denver or Victoria Felix from New Jersey about their passion for serving our community and AREAA members. Spend time with great leaders like Sherry Chris and Gino Blefari and you’ll quickly realize that their time and energy are so deeply entrenched into growing organizations like us. We are deeply blessed to be surrounded by all these gifted and selfless individuals who volunteer their time, talent and resources - all to support AREAA’s core mission promoting sustainable homeownership to AAPIs. As the founders or chairmen emeritus as we are fondly called, we have the privilege of working closely with hardworking staff members at AREAA. This year, we recognized Monica LaCrue, who has tirelessly worked as the organization’s event manager for nearly seven years. While we beam with pride as we see Monica grow in her career now with Freddie Mac (and sheepishly take credit for her success), we miss her talent, her drive and her tenacity in getting things done. We cannot be more delighted to present her the Chair Emeritus Award this year in Beverly Hills. It’s 36
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Lisa Nguyen, 2019 Greater Denver Chapter Vice-President
From left to right: John Wong,
In Middle: Victoria Felix, 2019 Northern New Jersey Chapter President
Sherry Chris, Better Homes and Gardens Gino Blefari, Berkshire Hathaway
Elena Lau, 2019 AREAA Boston Chapter President
people like her that truly make AREAA a remarkably wonderful organization. Year after year, we celebrate top producers from AREAA and this year is quite impressive! With a total sales volume of $1.8B – AREAA members once again, represent a cadre of exceptional professionals in real estate. Long Doan, founding president of AREAA Twin Cities, topped the A-list Team once more at $509M. Calvin Gong, another past chapter president from Tri-County with an impressive $585M! It’s no wonder that they’ve led successful chapters! Finally, it’s the collective service of our leaders that define AREAA. And, we’re not talking about us three! It’s the leadership from people like Elena Lau, Val Wong, Dyllan Nguyen, Keith Andrews and many more who make it a point to do the right thing for AREAA, even if the stakes are high. What an honor to stand shoulder to shoulder with these individuals as we continue AREAA’s mission and vision of closing the gap of homeownership for the Asian American and Pacific Islander communities.
Wong, Monica LaCrue, Jim Park, Allen Okamoto
oston
Val Wong, 2019 AREAA Greater Los Angeles Chapter President
Dyllan Nguyen, 2019 theEDGE chair
Keith Andrews, Greater Birmingham Founding Chapter Pesident
2019 BOARD OF DIRECTORS
Tom Truong
James Huang
Randy Char
Peter Park
2019 National President
2020 National President
Immediate Past
2019 Treasurer
President
Atsuko Yube
Allen Okamoto
John Yen Wong
Jim Park
2019 Secretary
Founding Chairman,
Founding Chairman &
Chairman Emeritus
AREAA Foundation,
Emeritus
Emeritus
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Allen Chiang
Justin Kim
Dick Lee
Hope Atuel
AREAA Global Chairman
AREAA Foundation Chair
Committee Liaison
Executive Director
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Save the date The 2020 AREAA Global + Luxury Summit April 27 - 29, Chicago, IL
Opportunity. Spirit. Support. There is an opportunity that stretches across America – to help buyers achieve sustainable homeownership. Wells Fargo is invested in that spirit and invested in you. We know that successful homeownership makes individuals, families, and the community stronger. That’s why we’re working to support homebuyers by preparing them as homeowners. Plus, we’ll support you too by providing the people and programs to turn more home-lookers to homebuyers.
Lets get started today. Contact us at diversesegments@wellsfargo.com This information is for mortgage professionals only and is not intended for distribution to consumers or other third parties. Information is accurate as of the date of printing and is subject to change without notice. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. ©2018 Wells Fargo Bank, N.A. All rights reserved. NMLSR ID 399801.
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Join us in empowering the Asian American communities through housing. Visit areaafoundation.org to donate today.
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Ruby Opal
Emerald Diamond
Jade
NATIONAL SPONSORS
G R A D U AT E S
ARE AA L U X U RY C OURSE
CLASS OF 2018 Syed Sherjeel Al-Haddad Toronto Home Realty
Julia Halpin TitleVest
Don Pingaro ISG Asia
Banny Bar Excellence Broker
Joanna Hsu Intero Real Estate Services
Shawna Roongsang Century 21 Affiliated
Nikki Beauchamp Engel & Vรถlkers
Susie Suhsin Hsu Move2Boston Group, LLC
Maurel Samonte eXp Realty
Suchi Bhagat Compass
Julie Huang ACJ International Realty LLC
Grey Sehnert House of Grey International
Steven Caban Cloud Realty Intl
Steven Huang Ascend Real Estate
Christina Shaw Sotheby's
Kimberly Cacioppo Palazzo Della Luna, Fisher Island
Tim Hur Point Honors and Associates, REALTORS
Luann Shikasho eXp Realty
Robert Canberg Compass
Cathy Izumo Exclusive Listing
Herman Chan Golden Gate Sotheby's
Christina Kim Century 21 Allstars
Winson Chan Tridel
Giefaan Kim Triplemint
Randall Char Char Luxury Real Estate
Amy Kong Realty World Advance Group
Christine Chau Texas Urban Realty
Meiling Kravarik Better Homes and Gardens Real Estate
Kawing Chiu Tom Crimmins Realty Sue Chong Keller Williams Realty Elizabeth Chu Movoto Gloria Chu Shining Oak Realty Ana Cruz Select Properties of America, Inc. Tamala Daniels TLD New Home Developer Group Dennis Delisle, Jr. EQ1 Real Estate
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Elena Lau UNION Real Estate, LLC Susanna Lee Coldwell Banker Leimomi Manley Berkshire Hathaway Home Services / Starck Realty Janet Minard Toronto Home Realty Inc. Shane Nguyen 1st Priority REALTY LLC Karen Kyung Hae Park Realty7
Kewon Song Keller Williams Realty Landmark Tom Truong EXP Rodrigo Valderrama Keller Williams Commercial John Yen Wong Infero Sadie Wong Realty World Advance Group Monique Wong-Lee Paragon Real Estate Group Garrick Yan eXp Realty Atsuko Yube Global Estate Link Inc.
CLASS OF 2019 Sonny Chan Sequoia Real Estate
Tony Ngo Portland Luxe International
Shirley Chen W America Realty
Hannah Nguyen Portfolio Real Estate
Ronda Ching Day Coldwell Banker Pacific Properties
Kurt Nishimura Coldwell Banker
Susan Chiu Berkshire Hathaway Home Services Franciscan Properties Liza Fong Keller Williams Stacy Hale Town Real Estate Isabelle Harris Keller Williams Beverly Hills May Huang Portfolio Real Estate Yewon Hwang Keller Williams Cityviews Alex Lago Dudum Real Estate Group David Lee J1 Realty Group Ya Yuan Lien RE/MAX Platinum Silvia Lin Suarly Guarantee Real Estate Linda Liu Lennar Denise MaNguyen Compass Diana McIntyre CENTURY 21 Bamber Realty Ltd.
Oxana Orlova Loyalty Real Estate
Luxury Course Class of 2018 New York, New York
Dan King Professional Realty Associates Zsuzsanna Reinhard Urban Nest Realty Leeonnas Richardson Cross Country Equity, LLC Karen Smith Urban Nest Realty Nicole Solari Level Up Realty Michael Tessaro INTERO
Luxury Course Class of 2019 Sonoma, California
Samantha Tov-Weissensee Portfolio Real Estate Rachel Turner Sierra Sotheby's International Ellie Yang Keller Williams Cupertino Harvey Young Keller Williams Silicon Valley
The AREAA Luxury Designation is a staple to our organization, and celebrated its second year of offering. The Luxury Course provides AREAA members with exclusive access to luxury marketing tools and real estate resources to propel them to success in their local luxury real estate markets, all while being trained by veteran luxury real estate market experts. This year’s attendees were trained how to effectively understand luxury markets, high-net-worth individuals, and the necessary strategies needed in order to successfully close deals. At the conclusion, each student of the course was presented with a certificate from the Institute of Luxury Home Marketing and was recognized as an AREAA Luxury Specialist.
Robert McIntyre CENTURY 21 Bamber Realty Ltd.
IN PARTNERSHIP WITH
GET TO KNOW AREAA 17,000 Members and Growing 42 Chapters Across US and Canada 51 Ethnicities Represented 26 Languages Spoken 2 National Conferences Per Year National Policy Summit Each May State of Asia America Report Every Year Find Out What We’re Doing Next areaa.org
