Vol 2, Issue 3

ELIZABETH GOODCHILD CEO CENTER(FOLD)

A Strong Force in a Fierce Market

28

Dear Desirée UNDERSTANDING POLICY HAS A DIRECT LINK TO BUSINESS SUCCESS

SHE Means Business

24

20

NATIONAL WOMEN’S BUSINESS COUNCIL

Equator’s Visionary Evolution

30

26

NAWRB

ANNOUNCES NAME CHANGE 36

43

VOL. 2 / ISSUE 3

NAWRB.com

N Magazine | 1

GET SOMEONE IN THE KNOW. REFER A FRIEND. GET 10% CREDIT. For more information, visit NAWRB.com

2 | N Magazine

Within the mortgage and real estate industries is a community of remarkable women.

This year, the Five Star Conference and Expo’s first-ever Women in Housing Leadership Luncheon will celebrate the strength and success of these professionals.

Featuring honorary keynote speaker Mrs. Laura Bush, the Luncheon will provide a platform for enlightening dialogue on professional success and personal achievement.

OF BERS M E M OR VED F RESER

Members of NAWRB will receive a $100 scholarship toward registration.

Join NAWRB and get your instant support today. Email info@nawrb.com to claim your code and get involved in this exclusive community.

0 P.M. 2013 .M.–1:3 0, 11:30 A TEMBER 1 P E S S , EXA DAY TUES DALLAS, T HOSTED BY

HOSTED BY

CO-HOSTED BY HOSTED BY

CO-HOSTED BY

CONTRIBUTORS CO-HOSTED BY

CONTRIBUTORS

CONTRIBUTORS

GROWING FORWARD | THE TENTH ANNIVERSARY FIVE STAR CONFERENCE AND EXPO | DALLAS, TEXAS N Magazine | 3

features 20 She Means Business Women have higher rankings of education than ever and reported to be the breadwinner in a majority of U.S. households, yet as women continue to claim coveted CEO roles at big companies like IBM and Yahoo – what about real estate?

By Lauren Felechner 24 Understanding Policy Has a Direct Link to Business Success The results are in and there is plenty to advocate for by women entrepreneurs.

By Barbara Kassoff 26 Equator’s Visionary Evolution Ten years ago, Equator had an idea of how to advance their business with the employment of technology – what kept the company going was their love for the industry.

By Ashley Bean

4 | N Magazine

28 A Strong Force in a Fierce Market Elizabeth Goodchild, Broker/Owner of Chicago-based Weichert Realtors Goodchild Homes, is not afraid to take risks for her business and go for her goals on her personal path to success.

By Carina Calhoun 30 National Women’s Business Council National Women’s Business Council (NWBC) releases provocative piece on the economic impact of women-led businesses.

Compiled by NWBC 36 National Association of Women in Real Estate Businesses NAWRB declares a developed approach to business with a new name, but remains rooted in their original mission of advancing women.

By Lauren Felechner

44

What Women Want Health, fashion, recipe and review: The go-to guide into a woman’s world.

departments 10 SHE IS CHANGING REAL ESTATE The real estate round-up: NAWRB’s newest members, subscribers, renewals and certifications.

12 Infographic: Grow Your Business The figures and facts of building your business through online avenues.

14 App Mapp Don’t miss a beat by taking advantage of these handy industry apps for the on-the-go professional.

By NAWRB Staff 15 Property Tours Selling homes in today’s real estate market can be tough, but green features add extra incentive.

Compiled by NAWRB Staff

16 The Green House Effect As the market moves forward, energysaving elements have become a conventional component to every new home or remodel, making it number one on homebuyers’ list of needs.

By Carina Calhoun 18 The Market is Moving The imbalance act between supply and demand.

By Daren Blomquist 38 Tech Tools of the Trade Technological advances have transformed the way we do business in the real estate industry.

By Carina Calhoun

40 Framing the Debate of Real Estate Finance Reform Reform efforts now underway will dramatically change the real estate market for generations to come.

By Debra W. Still, CMB 42 N Crowd Join the conversation: “What steps do you take to be more eco-friendly both personally and professionally?”

43 Dear Desirée The CEO of NAWRB and 20-plus year real estate veteran with a wealth of information, experiences and committment, answers your questions.

48 SWAN Out of their offices and into the field, where NAWRB members can be seen and heard.

N Magazine | 5

NAWRB STAFF & BOARD

N

MAGAZINE Publisher/CEO Desirée Patno Desiree.Patno@NAWRB.com Editor-in-Chief Carina Calhoun Carina.Calhoun@NAWRB.com

PRESENTED BY nawrb

Q&A: SA M

Do I have a SAM acc to create ount? 25

UPDATE

:

Blue White & Americ House In Politicsan Women 13

BLONDE BRUNET S, TES, & RE Exception DHEADS al Bea

Business VOL. 1 / ISSUE

uty & Policy 11in

6

NAWRB.com

Graphic Designer Samantha Cauguiran Samantha.Cauguiran@NAWRB.com Director of Membership Lauren Felechner Lauren.Felechner@NAWRB.com CONTRIBUTORS Ashley Bean Daren Blomquist Barbara Kasoff Debra W. Still

15

COPYRIGHT

2012 BY NAWRB

LISATOWLD) RIOSCENTanERof(FPrOoperty CE er Wom Pow MELV 28 WAGNAE R Member of The Roaring the Year Twenty 17

• 949-559-9800

• NAWRB.COM

• REPRINTED

BY PERMI

SSION

S ON TAL REN RISE THE

18

OF ART G THE AGIN E ST HOM 32 SY U B FOR MEN TIPS S WO INES BUS

41

UE 1 2 / ISS

om RB.c NAW

VOL.

JOYCE ESSEX

gazine

| 1

N Ma

CEO CENTER(FOLD) A Leading Lady of Luxury Real Estate

26

A SELLER’S MARKET FROM COAST-TO-COAST

16

VISIT OUR WEBSITE AT WWW.NAWRB.COM N Magazine,the official publication of NAWRB, a bi-monthly magazine featuring unique content for women business owners in real estate, exclusive interviews with industry professionals, business development tools, book reviews, feature stories and more. N Magazine welcomes comments from all readers. All materials submitted to N Magazine are subject to editing. www.NAWRB.com • (949) 559-9800 • NMag@NAWRB.com 34 Executive Park, Suite 260, Irvine, CA 92614

6 | N Magazine

WOMEN BUSINESS OWNERS FACE OBSTACLES, BUT CONTINUE TO THRIVE

18

RESERVATION PRICES, RESTRICTED SUPPLY AND DEFLATING BUBBLE RISK

24

THE HIGH-END HOUSING MARKET

32

N Magazine | 1

SUBSCRIBE NOW Call (949) 559-9800 or email info@nawrb.com today!

"Thank you so very much for jumping through the hoops to get this closed.

You have been a joy to work with. Your extra distance is appreciated.�

-Victoria Davis California Professional Real Estate

Full Service Escrow Company Where Customer Service is Priority

SIMPLIFYING & EXPEDITING ESCROW SINCE 2004 Harmony Title Agency providing services in AZ, NV, WA, & OR

Call (866) 714-0966 Today

N Magazine | 7

economy. The trend of higher rates has only been with us for a short time so it may be premature to predict how home prices will react with numerous outside factors. At present, most of the real estate world will continue to take advantage of the positive market conditions.

letter from the publisher Dear Readers, With the summer months coming to an end, the housing market continues its hot streak, as evidence in the recent Case-Schiller housing numbers which showed home prices rising on an average 12.1 percent. Interest rates are on the rise as well, and for some market analysts, this could signal a spoil in the housing market recovery.

However, many would argue that rising rates indicate an improving

8 | N N Magazine Magazine

This issue is a special edition as it is NAWRB’s first issue since our official name change last month. We are thrilled to be expanding our audience as the National Association of Women in Real Estate Businesses. It reflects the association’s emerging business model to expand opportunities for women beyond REO brokerages to include all women specializing in the housing economy.

The decision to change the name of the NAWRB acronym was a product of the evolution of the real estate industry,

starting over two years ago with our trademark tag line, SHE (Specializing in the Housing Economy) is Changing Real Estate™. Read more about our name change on page 36 with an article by our Director of Membership, Lauren Felechner.

If there’s anything real estate professionals have become accustomed to, it’s adapting to the uncertainty of the housing market and the changes it goes through. In this issue, we address those changes by covering the thriving topic of technology. We have included tips on how to expand your real estate business electronically with new gadgets, website and social media use, the growth of the green housing market and how technology has transformed the real estate industry as a whole. Technology has reinvented the way we do business in real estate and as women being connected we strive to maintain that competitive edge in today’s market.

NAWRB is taking on these new advancements by integrating weekly videos to our marketing toolbox.

From learning about the benefits of women-owned business certification to our name change

announcement, check out NAWRB’s YouTube channel for the latest news and events happening within the industry and NAWRB. We have several government and housing meetings NAWRB is participating in and hosting until the end of the year. Stay tuned and up-to-date as we bring you the latest updates in the women’s empowerment movement within the housing economy through our videos, magazine, Newsroom and website.

We are proud to bring the “Dear Desirée” column to the magazine. It has been a passion of mine for several years to create a Q&A forum to help real estate professionals with all types of questions and helpful tips. If a question is outside of my expertise, I will seek advice from an expert and cite the source. We want to create an open forum to help our readers — from the real estate profession to a personal level. Submit your questions to Dear.Desiree@nawrb.com and I look forward to hearing from you.

As a women’s association, it is imperative we are always striving to voice the needs of women in business and women empowerment. N Magazine will now include a government section

dedicated to keeping women “N” the know about the economic impact of women in business. Women Impacting Public Policy’s (WIPP) President and CoFounder, Barbara Kasoff, touches on the benefits of understanding policy as a direct link to business success. This section will expand in the next coming issues and we could not be more invested in the idea of sharing this forum with you.

Also featured in this issue, the National Women’s Business Council (NWBC) shares their provocative piece and infographic on the economic impact of women-led businesses. According to the report, women have a greater economic impact than most realize — 36 percent of employer firms are either womenowned or women-led; and 18.8 percent of employer firms are at least 30 percent owned by women and have a woman in a leadership role. When those two numbers are added together, women’s economic impact is much clearer. That makes 36 percent of employer firms that are either women-owned or women-led. This is a significant acknowledgement for women in business in all industries.

will be attending the Five Star Conference & Expo’s first-ever Women in Housing Leadership Luncheon on Sept. 10, 2013 in Dallas, Texas. This is an exciting event for NAWRB being on the advisory board, featuring the honorary keynote speaker, Mrs. Laura Bush.

As the official publication for NAWRB, N Magazine continues to expand and will soon be featured in the international market.

Thank you to our advertisers, sponsors and loyal members of NAWRB. We appreciate your continued support!

Desirée Patno Publisher/CEO Desiree.Patno@NAWRB.com

This month, NAWRB board members and I

Magazine | 99 N Magazine

SHE IS CHANGING REAL ES “My membership in the NAWRB has been extremely rewarding. The regular updates I receive concerning events and news relevant to my business keeps me informed and up-to-date on my industry. This puts me on the competitive edge! Thank you NAWRB!�

-Barbara Gardner

certified "I decided to certify my business to ensure my role as a certified minority woman-owned business across the real estate plateau."

-Tina Estrada 10 | N N Magazine Magazine

STATE

KATRINA WASHINGTON Broker Stratos Realty Group www.stratosrealty.com stratosproperty@aol.com 405-848-2925

renewals

Yuri Blanco

RE/MAX Executives www.ExecutivesIdaho.com Yuri@IdahoHomeShop.com 208-938-9099

Tina Harbin

Managing Broker/Owner Real Estate West, Inc. www.realestatewestonline.com realtortina1@gmail.com 970-243-7100

Ivery Summers

Director of REO sales division The REODIVA www.thereodiva.com ivery.sells@verizon.net 310-649-2711

Sharon Sigman

Sharon Sigman Realtors www.kansas-city-real-estate.com sharon@kchomes.net 913-381-6794

Nola Collins Century21 Collins www.century21.com nola1929@att.net 586-992-9914

Terry Rasner

Broker-Owner Dreams Realty http://dreamsrealty.net terryrasner@msn.com 775-473-8901

Roberta Chatfield

Broker/Owner Phoenix One Realty phoenixonerealty@aol.com 602-882-0603

Brandy Nelson

Owner Red Top Realty www.brandynelson.com nelsonreoteam@gmail.com 760-272-9791

justine jimenez-garcia Nancy Allee

Broker/Owner Indiana Central Homes www.IndianaCentralHomes.com nallee@mibor.net 317-722-0913

Owner/Broker Countywide Properties, Inc ctywide@bellsouth.net 305-264-6660

IVY MELTON

Netco Title www.netcotitle.com ivyntaz@aol.com 949-598-1855

N Magazine Magazine | 11

INFOGRAPHIC

GROW YOUR BUSINESS

The figures and facts of building your business through online avenues.

4 WAYS TO ATTRACT ONLINE BUSINESS 1. Website

Create a quality website is the first step.

51 percent of small businesses stilldon’t have Websites.

$ $$ $$$

2. PPC

Get your digital footprint started with Pay-Per-Click. Spending on PPC in the U.S. rose 24 percent in Q1 of 2013.

4. Social Media

Broaden client base with social media tools. And the award for the fastest growing social network in the world goes to…

Twitter, with the fastest growing age demographic of 55 to 64 year olds, registering an increase in active users of 79 percent.

Self-host a Wordpress by using Volusion for e-commerce.

Custom Wordpress with HTML or a third-party to create your website.

Front-and-Center Contact Info

Web surfers have the attention spans of drunken gnats. Give them the information they’re searching for before they move on to find it more easily at a competitor. One easy step: Make sure your company’s contact information (address, phone number, even a link to a Google map) is conspicuous and ubiquitous throughout the site.

Speed

It's 2013, not 1997, and there is no need for the dial-up experience any longer. According to Forbes, the old eight-second rule–the maximum time consumers generally wait while a site loads–has collapsed to the three-second rule, according to Compuware , which has benchmarked website performance for more than a decade. If you’re going past three seconds, de-gunk your home page, simplify your code or upgrade your servers.

*Keep benchmarking performance of Site, PPC, SEO and social media against your overall business objectives.

(Revise as needed) 12 || N N Magazine Magazine

An instant site such as Yahoo, Inuit or Ultracart.

IS THIS SITE EFFECTIVE?

3. SEO

Search Engine Optimization will widen an online presence. 93 percent of online experiences begin with a search engine.

SITES & BUDGETS

Tools

Utility reigns on the Web. Nothing snares more press, blog posts and chat room banter than a site that actually does something for users, says Rick Mathieson, author of The On-Demand Brand.

Focus

As websites provide both static and dynamic content, some aspects of the user interface attract attention more than others do. Obviously, images are more eye-catching than the text — just as the sentences marked as bold are more attractive than plain text. The human eye is a highly non-linear device, and web-users can instantly recognize edges, patterns and motions.

INFOGRAPHIC

TIP: MORE LEADS AT LOWER COST OVER TIME

A blog on your site ups your digital footprint.

65-70 %

GOOGLE owns of the search engine market share.

43%

Companies that blog get more indexed pages. More pages means more leads.

70%

of the links search users click on are ORGANIC.

TIP:

GOOGLE ALERTS IS FREE!

93%

of marketers use social media for business

80%

75%

OF SHOPPERS IN THE SOCIAL SPACE CHANGE PURCHASE DECISIONS BASED ON NEGATIvE REVIEWS

of users NEVER scroll past the first page of search results.

Study Keywords - Build a quality landing page for each major set of keywords.

SET UP PROFILES

1. Place 2. Where are your customers?

Spend time on those platforms the most 3. How 4. build trust and be authentic. Include helpful tips.

18-43

U.S. adult age RANGE that youtube reaches over any other cable network

189

PAID SEARCH

< 2K - Self or Google Express > 2K - Getting pro help

17% of PPC campaigns considered profitable by advertisers.

32% of PPC agencies report that their clients primarily use PPC to sell products or services directly.

35 percent use it to generate leads.

MILLION OF FACEBOOKâ&#x20AC;&#x2122;S USERS ARE MOBILE-ONLY

2% of agencies said their clients had decreased spending on Google AdWords, whereas 19 percent reduced their spending on Bing and Yahoo campagins.

9%

of U.S. MARKETING COMPANIES EMPLOY A FULL-TIME BLOGGER EVEN THOUGH 62% OF MARKETERES BLOG OR PLAN TO BLOG IN 2013.

N Magazine Magazine || 13 N 13

APP MAPP real esTate on-the-go

By NAWRB Staff

Technology is taking over real eastate and can be accessible from your pocket or purse

Trulia Trulia recently updated its Real Estate by Trulia App with a sleek design. It has separate sections for rentals and homes to own. Users can use the location-based app to find listings nearby. Searches can be narrowed down by lot size, year built, and square footage. Or you can use the “open house” tab to find out what’s available to view today. Still need help? The app helps you find an agent. Real Estate

by Trulia makes looking for a home almost fun — almost.

The app comes with a heat-map feature that shows crimeridden neighborhoods or areas that are prone to floods.

Lovely The location-based app makes it easy to find places nearby. Store your preferences and set alerts so you know the minute something new hits the market. Once you’ve identified some places to live, users can save them to their “favorites,” for future reference. Lovely is also available via the web, so you can set up an account and you can access them from your computer. View those kitchen photos on a larger screen.

Homesnap Homesnap’s unique technology was built to do one thing: instantly tell you all about any home you snap. How much is it worth? When did it last sell? For how much? Beds?

Baths? Lot size? Schools? TheHomesnap app for iPhone and iPad answers all these questions with a single tap for over 90 million homes across the U.S. Zillow Search and filter tools including GPS locator, draw your own area, and keyword search help you find the perfect home. See homes for sale and for rent, recently sold homes and pre-market properties (pre-foreclosure, foreclosed and Make Me Move® price homes). Receive notifications when new listings hit the market, drop in price, show an open house date, or are sold so that you are always in the know.

Contact a local agent to tour a home directly from the app and share homes via email, Facebook and Twitter.

Houzz Interior Ideas Called the “Wikipedia of interior and exterior design” by CNN, Houzz has the largest database of home design ideas on the net, with more than 1.5 million high resolution photos. Browse photos by style, room and location and save them to your virtual idea book — it’s the equivalent of clipping design magazines to a scrapbook — making ideas easier to search, save, and share. Experience Houzz.com as an iPad app and save your photos locally for offline access.

Join the discussion and get the community to help with your design dilemmas.

14 | N Magazine 14 | N Magazine

PROPERTYTOURS

Selling homes in todayâ&#x20AC;&#x2122;s real estate market can be tough, but green features add extra incentive.

BY NAWRB STAFF

CERILLOS, NEW MEXICO

Off Grid Compound on 80 acres (two separately deeded lots) is comprised of a modern pueblo home with huge mountain and canyon views from a commanding hilltop location. In 4 Bedrooms addition to the main house, there are two charming guest casitas and a 4 Bathrooms workshop. Situated 40 minutes 2,370 Square ft to the amenities of Santa Fe and $499,000 minutes to the old mining towns of Cerrillos and Madrid, this property provides a viable choice for intentional living. The current owners have created a well-done, special enclave only 2.8 miles from the highway providing a unique opportunity for a sustainable lifestyle. www.greenhomsforsale.com

BURLESON, TEXAS

This three-level home features a large, open concept gourmet kitchen, dining area, and living area on the main floor with expansive views of the wooded lot and attached deck. The downstairs level contains a large entertainment center with projector and a guest suite, opening to a covered patio and access to the saltwalter pool. The middle level houses the living room, kitchen, study and master suite! Upstairs features three oversized bedrooms, two baths and a study. The kitchen has gas appliances, double-oven, 48-inch cooktop, custom cabinetry, built-in refrigerator and two separate work areas with sinks. Green features include: Insulated Concrete Form (ICF) construction; spray foam insulation; low-flow commodes; drought tolerant plants; low-E double pane windows; Energy Star appliances and high5 Bedrooms efficiency water heater.

4 1/2 Bathrooms 5,796 Square ft $455,000

4 Bedrooms 3.1 Bathrooms 3,460 Square ft $258,999

WYLIE, TEXAS

A hard-wood entry features a large, open kitchen and huge master suite. The kitchen features Corian counters, an island and plenty of cabinets that opens to a living area with corner stone fireplace. Oversize master suite down with sitting area and bay window. Game room plus media room. Formal dining with plenty of room for entertaining along with private study; 100 percent organic yard and home â&#x20AC;&#x201D; no chemicals included. Three-car garage, full gutters with extra storage throughout and floored attic. Submitted by: Lisa Henry-Weaver, Broker/Owner, Coldwell Banker, Jane Henry Realtors N Magazine | 15

State of the Industry The green house effect

A

ccording to a survey conducted by the National Association of Home Builders (NAHB) this spring, homebuyers are first and foremost looking for energy-efficiency in a home. An astounding 91 percent of surveyed individuals said they want an Energy Star rating for the entire home. The growing trend of including eco-friendly elements to a home is now becoming a mainstream movement. From architects and builders to appraisers and realtors, no party in the housing industry is untouched by the effect of energy-efficient homes in the market.

An energy-efficient home, or a green home, is a vague term loosely used by home sellers and buyers in today's market.

So, what is a green home exactly? And why is it so popular in today's market?

Energy-efficient homes reduce unnecessary energy consumption, greenhouse gas emissions and demands for non-renewable resources. They simultaneously provide healthier living conditions and offer homeowners significant money savings over conventional homes. Many factors can comprise residential energy-efficiency, and both new and existing homes can be improved with energy-efficient strategies and products.

Using green technology in homes can be accomplished in a number of ways. The heating and cooling of a home, cooking, using the washing machine, use energy resources and even the air homeowners breathe needs to be looked into. The sooner we adopt an eco-friendly lifestyle, the better it would be for the coming generations. There are several ways to bring the green technology in homes which will help reduce our carbon footprint and still enjoy life.

In today's market, homebuyers want the benefits of owning a green home, without paying much more for it. However, in

16 | N N Magazine Magazine

California, a report said that green-certified homes sell for 9 percent more than regular homes. Single-family homes with green certifications sold for an average of $34,800 more than comparable homes from 2007 to 2012 when the average California home was priced at $400,000, according to the University of California research. The premium varied significantly within the state, showing spikes in areas with the most electric vehicles. "We observed a phenomenon we've termed the 'Prius effect' â&#x20AC;&#x201D; a positive correlation between the value of green home labels and environmental ideology, as measured by the rate of hybrid registrations," said co-author Nils Kok, visiting professor at the University of California, Berkeley.

In these areas, he said residents may see green homes as "a point of pride or status symbol."

The study finds the premium is also highest in the hottest places, suggesting buyers value green labels for the pragmatic reason of lower utility bills. It looked at 1.6 million home sales, including 4,300 that earned certifications from Energy Star, GreenPoint Rated or the U.S. Green Building Council's LEED for Homes program.

Similarly, two smaller studies found green-certified homes sell for more than regular ones. In Seattle, they sold for 8.5 percent more per square foot and were on the market 22 percent less time from September 2007 to December 2009, according to Seattle-based GreenWorks Realty.

In the Portland, Ore., metro area, they sold for 12 percent more from May 2008

to April 2009, reports the Portland-based non-profit Earth Advantage Institute.

One of the main ways in which technology is changing the world is how it is helping to slowly repair the damage that we have done to the environment. It is doing

this by making it easier to conserve energy on a daily basis, in a slick and efficient way in homes. In the real estate industry today, agents and brokers must know the lingo in selling these high-performance homes to their prospective buyers. With a green home, marketing needs to be different than what one would do for a typical home. Typical homes compete on price and features, such as granite countertops.

Green homes compete on value such as lower utility bills and less toxins. There are more options available and more opportunities to build value above and beyond a conventional competing home.

The most exciting green gadget to have been released in the last few years is the smart thermostat. Having one of these gadgets in a home will help the owner to save an incredible amount of wasted energy, by allowing them to program their habits, so that they are not heating and cooling a house that they are not living in.

Sell the real-world green benefits of the home, not the pie-in-the-sky stuff. Buyers/renters care more about lowering their utility bills and keeping their families safe than they do about the polar bears. They may agree with the environmental reasons, but they need to see the real-world utility bill savings.

Appliances Plug into today's energy-efficient appliances and enjoy long-term savings.

Getting rid of that old refrigerator in the garage could save as much as $150 a year, according to the Environmental Protection Agency (EPA). Appliance use comprises about 18 percent of a typical homeâ&#x20AC;&#x2122;s total energy bill, with the fridge being one of the biggest energy hogs. If any of your appliances is more than 10 years old, the EPA suggests replacing them with energy-efficient models that bear their "Energy Star" logo. Energy Star-qualified appliances use 10 percent to 50 percent less energy and water than standard models. According to the Energy Star site, if just one in 10 homes used energy-efficient appliances, it would be

State of the Industry equivalent to planting 1.7 million new acres of trees.

Insulation Energy-efficient homes are well insulated and sealed against air leaks. Hidden cracks, particularly those in attics and crawlspaces, can permit as much airflow as an open window. They cause heating and cooling systems to work harder and increase utility bills. Sealing and adding extra insulation to the outer walls and attic can be the most cost-effective way to improve energy-efficiency.

Heating and Cooling Heating and cooling systems can be responsible for as much as half the energy consumed in your home To maximize the efficiency of your home's heating and cooling system, use it only when necessary. Change the air filters regularly and have the unit serviced as recommended by the manufacturer. Approximately 20 percent of the air that travels through the duct work in a conventional home is lost due to leaks and improper sealing. Seal ducts and insulate them for increased efficiency and lower utility bills.

Lighting The electricity used over the lifetime of a single incandescent bulb costs 5 to 10 times the original purchase price of the bulb itself. CFLs are simply miniature versions of full-sized fluorescents. They screw into standard lamp sockets, and give off light that looks similar to the common incandescent bulbs â&#x20AC;&#x201D; not like the fluorescent lighting we associate with factories and schools. LEDs are small, very efficient solid bulbs. New LED bulbs are grouped in clusters with diffuser lenses which have broadened the applications for LED use in the home. LED technology is advancing rapidly, with many new bulb styles available. Initially more expensive than CFLs, LEDs bring more value since they last longer. Also, the price of LED bulbs is going down each year as the manufacturing technology continues to improve.

ries that reduce water use in the home and help preserve the nation's water resources.

Maintenance and daily practices tie into reducing water consumption overall. The installation of low-flow plumbing fixtures can save up to 30 percent of indoor water use. Outdoor water use accounts for about 55 percent of the residential water use in the Front Range urban area, most of which is used on turf. During drought or times of restricted landscape watering, most lawns, including bluegrass, will withstand reduced watering regimes by going dormant.

Solar Dramatically lower electricity bills â&#x20AC;&#x201D; many homeowners experience at least a 50 percent decrease, up to the complete elimination of their electrical expenses.

With solar, you effectively lock in electrical costs and avoid escalating utility expenses.

By harnessing the sun, we can reduce our reliance on foreign and non-renewable energy sources. Studies show that solar systems can increase a home's value by 20 times the annual electricity savings. In addition, homes with solar systems tend to sell faster than homes without solar â&#x20AC;&#x201D; 15 percent faster by some studies. Tax incentives and rebates can reduce the cost of going solar by up to 50 percent depending on state and local programs.

Water WaterSense and Energy Star programs sponsored by EPA, have identified high-performance, water-efficient appliances, fixtures, water systems, and accessoBy Carina Calhoun

N Magazine | 17

HOUSING MARKET

nd

d dema

S I T E K R A G N I M V O M HE

balance

The im

an supply n e e w t act be

T

By Daren Blomquist

W

hat happens when the damsel in distress no longer needs the knight in shining armor to save her? Maybe she gets a job or even starts her own business. She takes some MMA classes so she can defend herself — and has the means to hire bodyguards if necessary. Does that leave the poor knight out of a job and worse yet, a purpose in life?

Many real estate professionals could identify with the knight in this scenario (many might also identify with the reformed damsel in distress, but that’s for another column). Over the past seven years they have been that knight in shining armor for countless homeowners in distress, and many have even built a large portion of their business on the foundation of a distressed market.

But now the market is shifting away from distress and back toward health. To transition from distress to health, the market is going through a recovery period that is uneven and 18 | N Magazine

unbalanced to say the least.

Setting the stage for recovery On the one hand, if one just looked at home price appreciation, one might assume the market is back in bubble territory, with home prices increasing at an unsustainable pace. This is particularly true in markets where the socalled shadow inventory has quickly fled in the bright light of a fast foreclosure process. Places like Sacramento, Calif., where home prices appreciated 35 percent in June compared to a year ago; Las Vegas, where home prices were up 26 percent; and Phoenix, where home prices were up 25 percent. And there are numerous other markets where home prices are bouncing off the bottom by 10, 15 or 20 percent.

These rapidly rising home prices are driven by strong demand from both owner-occupant homebuyers and investors — many of them willing to pay cash. Institutional investors who purchased at least 10 properties in the last 12 months represented 9 percent of all residential

sales in June, more than 15 percent in Georgia, Nevada and Arizona. Meanwhile all-cash purchases represented 30 percent of all sales nationwide in June, more than 50 percent in markets like Miami, Las Vegas and Detroit.

Distress still lurking in the wings But on the other hand there is still ample distress in this market — much of it below the surface — if one takes the time to look.

In housing markets with a slower foreclosure process that allowed for the dreaded shadow inventory to build, foreclosure starts surged last year following the finalization of the national mortgage settlement — which gave lenders a clear set of guidelines to follow to foreclose. Foreclosure starts in states using the more lengthy judicial foreclosure process increased on a year-over-year basis for 11 consecutive months between February 2012 and December 2012, hitting a 32-month high of nearly 44,000 in August 2012.

Now those foreclosure starts are making

HOUSING MARKET their way through the process and are being scheduled for the public foreclosure auction.

Scheduled foreclosure auctions in judicial states — which include Florida, Illinois, New York, New Jersey, Ohio and Pennsylvania — have increased on a year-over-year basis for 12 consecutive months from July 2012 through June of 2013, hitting a 32-month high in April 2013. These scheduled foreclosure auctions represent homeowners who are in distress and have a limited amount of time to stop the foreclosure before they lose their home. Typically, a foreclosure auction is scheduled just about a month before the actual auction occurs.

what may be a short sale listing today could easily be an equity sale tomorrow thanks to skyrocketing home prices in the Bay Area market where she operates.

Soliemani was unable to negotiate a successful short sale with one of these distressed homeowners she contacted last year. But the homeowner had still not been foreclosed this year and had gained enough equity to sell the home normally — without having to get short sale approval from the lender.

“To transition from distress to health, the market is going through a recovery period that is uneven and unbalanced to say the least.”

Behind this backlog of foreclosures hitting in some markets, there is still a massive pool of homeowners with negative equity — or underwater — who can’t participate in the move-up market unless they are able to sell via short sale or strategically default. Nationwide, RealtyTrac data shows 11.3 million homes with a combined loan-to-value ratio of at least 125 percent — meaning they are underwater by at least 25 percent. Many of the markets with the most rapidly appreciating home prices still have the highest percentage of homeowners underwater: Nevada, with 52 percent underwater; Florida, with 41 percent underwater; Arizona, with 32 percent underwater; California, with 25 percent underwater.

Knights with a new mission So how are real estate knights in shining armor shifting market? Here are a couple real-life examples.

Lilian Soliemani, owner of Los Gatos, Calif.-based Synoptic Real Estate Group, has landed several short sale listings in the past year by mining RealtyTrac pre-foreclosure data. She contacts the distressed homeowners to see if they want to sell, and recognizes that

Meanwhile, Kathy Walls, a real estate professional with RE/ Max Platinum in Livingston County, Mich., said she is “just really focusing on my sphere of influence: past buyers whom I have been so blessed with through RealtyTrac,” referring to buyer leads she got through RealtyTrac over the past few years who are now in a position to move up.

Wall said many of those buyers took advantage of the first-time buyer tax credit when they originally purchased, but now are past the three-year limit to live in that home without losing the tax credit. She told the story of one such couple who was surprised when she showed them how much equity they had gained after purchasing a home via short sale about three years ago. “They have gained so much money they were shocked when I brought them the comps,” she said. “That will turn into a listing.”

• There are numerous other markets where home prices are bouncing off the bottom by 10, 15 or 20 percent.

• These rapidly rising home prices are driven by strong demand from both owner-occupant homebuyers and investors — many of them willing to pay cash.

• All-cash purchases represented 30 percent of all sales nationwide in June, more than 50 percent in markets like Miami, Las Vegas and Detroit.

• Behind this backlog of foreclosures hitting in some markets, there is still a massive pool of homeowners with negative equity — or underwater — who can’t participate in the move-up market.

Daren Blomquist Vice President, RealtyTrac Daren@realtytrac.com.

N Magazine | 19

WOMEN IN BUSINESS

SHE MEANS

BUSINESS

By Lauren Felechner

20 | N Magazine

WOMEN IN BUSINESS

W

omen have higher rankings in education than ever and reported to be the breadwinner in a majority of U.S. households, yet as women continue to claim coveted CEO roles at big companies like IBM and Yahoo — what about real estate?

There is no question that in today’s real estate industry, there is an insufficient amount of female leaders, and we are in dire need of more. Women’s success in this industry is selective. For example, female real estate agents outnumber their male counterparts, sell more real estate than men and the antiquated wage-gap does not apply. However, as a whole, the women leaders are lacking industry-wide.

Historically, women have been involved in real estate almost since its inception in 1794 and its establishment as a legitimate business in the 1840s. In real estate's early days, women filled office and clerical roles, but by the 1880s, women were already moving into the roles of agents and brokers, though at a relatively slow rate. Nationwide, women brokers dominate the residential real estate market, but have yet to make a major entrance into the more lucrative commercial market.

According to Ada Healey, head of the real estate arm of Vulcan, Inc., women are widely under-represented in commercial property firm leadership roles. However, according to a survey by CREW Network, there was growth from 2005 to 2010 seen in the amount of female commercial real estate professionals that increased from 36 to 43 percent. Although only 9 percent of female respondents said they held the positions of president, chief executive, chief financial officer or chief operating officer — while 22 percent of male respondents had those jobs.

Brandy Nelson has been the owner of Red Top Realty for two years but has been selling real estate for nine. Nelson’s dedication, passion and resiliency has helped see her through

the ups and downs in her career, encouraging her to change her business model to better coincide with the market and the direction it is heading. “With the changes in the market place, I felt it was important to add full services to all my clients, which included property management,” Nelson explained.

Being honest with yourself in regards to your business strengths and weaknesses can help further your career — even if it means completely starting all over again.

“Remember to always change with the market so you are not left behind … Also, do not listen to all the negative feedback that you can hear when you start a new career,” Nelson continued. “I was told that I could not be successful in the commercial field if I handled residential properties as well. I successfully sell and lease commercial properties in my market as well as sell and lease residential properties.”

Heidi Robinson’s transition into real estate was a thing of opportunity. She has been a realtor for Thunderbird Real Estate for the past decade, but came from a background of business management, education, customer service and event management. However, Heidi had to grapple the worlds of finance, contracts, real estate law and local ordinances in order to fully prepare for her new position.

“I believe I have been able to achieve and maintain my success because I have an extreme drive to succeed … I regularly attend community and national conferences and events. I strive to educate myself on a continued basis … I constantly try to reinvent myself to stay ahead of the curve in an ever-changing market,” Robinson explained.

According to Catalyst, a nonprofit researcher studying women and business among Fortune 500 companies, females held 14 percent of executive officer positions in 2012. “At its core, real estate is a construction business,” Healey said. “Construction has traditionally been more male-dominated.” At New York University’s Schack Institute of Real Estate, the gender gap is shrinking, suggesting that more women will be in position to not only enter the field, but make advancements as well. Compared to 10 years ago, the school’s female graduate students grew from barely 10 percent to 30 percent today. “This is an industry that’s growing up,” Rosemary Scanlon, dean of Schack, said. “They feel now they can carve out a good role for themselves in the future.”

Ingrid Beckles, Founder and CEO of The Beckles Collective, LLC, has been in her current role for the past two-and-one-half years after more than 30 years in corporate banking — more specifically as the Senior Vice President and Head of Default Asset Management for Freddie Mac — but Beckles did not want her decades-worth of experience and relevance to go to waste.

“I felt that my career had granted me a unique vantage point complete with valuable handson experience at a spectacular time in our industry. So I decided to launch my own practice to guide other executives, institutions, legislators, non- profits and government agencies navigate through the aftermath of the crises,” Beckles explained.

With Beckles' extensive career, her advice and work experience are honest and straightforward. Among Ingrid’s tips for others is to, N Magazine | 21

WOMEN IN BUSINESS

takes practice and constant refinement.”

Having been the founder for both of her companies, Renee Marie Smith, Esq., of Smith & Associates Title Services, Inc., (seven years,) and My Guru Publishing, Inc., (two-and-one-half years) has also been an attorney for 17 years. Since 2007, Renee made the executive decision to leave the statewide law firm she was employed by to start her own company.

“I wanted more control over who I worked with and wanted more inspiration than how many billable hours I racked up,” Smith stated.

Smith has been able to reach her level of success and notoriety due to her positive outlook, remaining proactive and her mindset that, “Never succeeding wasn’t an option.” She would advise women coming up in the workforce to, “Never stop learning and expand the sources you look to for knowledge. Wisdom comes from un-

who started with the company in 1977, never thought of herself as a female executive. She left the company in 1983 to return in 2002 as CEO. Marguerite Nader, took over as CEO of Equity Lifestyle Properties, Inc., earlier this year, who’s ascent is seen as a positive thing for the real estate industry by Kathleen Carey, an executive vice president at the Urban Land Institute.

In 2011, CREW Network and brokerage, Cassidy Turley, started an initiative that matches women pursuing leadership roles with others currently enrolled in those types of jobs – meeting for two hours each month and creating an executive-development plan. Growth of the industry will also open up more opportunities where about half of the students in enrolled in real estate classes at the Lusk Center are women, up from about one in 25 a decade ago.

Rather than focusing on the lack of female leadership in this industry, perhaps we should value those that have taken the steps

“… the gender gap is shrinking, suggesting that more women will be in position to not only enter the field, but make advancements as well.”

“Be aware and conscious in your decisions to avoid being a victim or having that ‘how did I end up here’ conversation with yourself.” Beckles continued, “You may not like the outcome of your decision, it may not have been made carefully, but know that it is yours or that you allowed someone else to make it for you, and live with that. It 22 | N N Magazine Magazine

usual places,” and, “Don’t limit what you can do by ‘what’ you are. I am a lawyer by training, but now, I’m a business owner, author and motivational speaker as well.

Wisdom transcends job titles.”

Constance Moore, chief executive officer of apartment owner BRE Properties, Inc.,

and remain dedicated to give this industry life and esteem. There are prominent women that hold significant positions, so rather than focusing on what is non-existent, we should be paying attention to what is being accomplished industry-wide.

ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNEDOF BUSINESSWOMEN OWNED BU NATIONAL ASSOCIATION ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WO N OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWN USINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINES OMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM IN REAL ESTATE BUSINESSES WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESSWOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM CHR BUSINESS MATA WNED BUSINESS WOMEN OWNED WOMEN OWNED BUSINESSWOMEN OWNED BU NC. ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESSWOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU JustOWNED closed Sundance Be theBUSINESS investorWOMEN in yourOWNED real estate ESS WOMEN OWNED BUSINESS WOMEN BUSINESS WO over 21%WOMEN profit. OWN I FORMING WOMEN SPECIALIZING N OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED with BUSINESS market IN THEBUSINESS HOUSING WOMEN ECONOMY USINESS WOMEN OWNED OWNED BUSINESS WOMEN OWNED BUSINES OMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM Chrimata, Inc. is a real estate investment and WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU management corporation with more thanonly 12 years NAWRB is the provider of Before Women-Owned After ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM of experience in buying, selling, rehabbing, Business (WOB) and Minority Women-Owned WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESSWOMEN OWNED BU maintaining and managing single-family Business (MWOB) specific to realBUSINESS estate. WO ESS WOMEN OWNED BUSINESS WOMEN OWNED certifications BUSINESS WOMEN OWNED residential properties in multiple states.

N OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWN USINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINES OMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS LEGAL DISCLAIMER: Chrimata, Inc. nor its employees can predict the actual WOMEN OWNED BUSINESS WOM profit on a future transaction. Past history does not guarantee future performance.

WNED BUSINESS WOMEN OWNED BUSINESS BUSINESS OWNED BU 34 ExEcutivE Park, SuitE 260,WOMEN irvinE,OWNED ca 92614 • (949)WOMEN 559-9800 ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM WNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM Website: www.chrimatainc.com (714) 396-6622 • Email: investor@chrimatainc.com N Magazine | 23 WNED BUSINESS WOMEN OWNED• Phone: BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BU ESSWOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOMEN OWNED BUSINESS WOM

WOMEN

Are you a woman in the housing economy?

I

There’s no Tool more effecTive Invest andempowermenT Find REAL profit withof a woman Than The

CHRIMATA, INC.

EL A B GOOIZ DC ETH CEo CE HILD ntEr(Fo ng For

a stro

Dear D

ce in

esirée

sHE ME BusinE ans ss

unDE rst PoliCanDinG y Ha Dir BusinE ECt linK s a ss suC to CEss

20

Equa Visiontor’s EVolutary ion

24

natio WoMEnal BusinEn’s Coun ss Cil

NAW

ANNO RB NAME UNCES CHAN GE

30

36

43

/

ISSUE 3 NAWRB. com

N Magaz

ine | 1

CERTIFY YOUR BUSINESS AS WOMEN-OWNED TODAY

lD)

Marke

t

28

26

VOL. 2

a Fierce

POLICY

UNDERSTANDING POLICY HAS A DIRECT LINK TO BUSINESS SUCCESS The results are in and there is plenty to advocate for by women entrepreneurs.

A

pleasant surprise came in the form of Women Impacting Public Policy’s (WIPP) 2013 Annual Issues Survey. The question posed was the level of engagement in advocacy by WIPP members and women entrepreneurs. The profile that emerges speaks to the progress since the passage of HR 5050 — landmark legislation affecting women business owners. These women actively follow legislative actions, visit their elected officials and find value in continuing their engagement. Just take a look at the statistics: •71 percent follow WIPP’s activities on Capitol Hill through weekly policy newsletter, social media and issue committee calls.

•40 percent have visited their Senator or Representative in DC or in local office. Of those 40 percent, 77 percent will continue to engage with their elected officials.

•53 percent have responded to a WIPP Ac24 | N Magazine

tion Alert which involves writing or calling their Congressional delegation.

•46 percent are interested in advocacy training.

•Two-thirds have contributed to a PAC. The word is out — policy has a direct link to the success of your business. And, due to WIPP’s decade-long advocacy, women business owners have a seat at all the policy tables.

No longer are we on the sidelines looking in — we are shaping policy decisions, testifying and communicating with our legislators on a daily basis.

The challenge is to continue to harness this advocacy all over the country. This should include a team of WIPP advocates in every Congressional District who can pick up the phone or communicate with Congress at the drop of a hat. Just think of the megaphone women business owners could have if we ex-

By Barbara Kasoff

panded the above results to many more members nationwide.

The survey results also show us that there is plenty to advocate for. The annual survey of WIPP members provides insights into the current economic environment and the issues important to women-owned firms that should be addressed by Congress and the Administration. The top seven issues ranked by survey participants are: the economy, healthcare, procurement, access to capital, energy, telecommunications and export and trade.

Cautious optimism about the economic outlook was at top of mind for the respondents.

Three-quarters of the businesses interviewed assigned the highest possible importance rating to the economy, making it the single most important category investigated.

POLICY Respondents reported that employee headcount per company is up to an average of 20 full-time and 10 part-time employees with 64 percent expecting to increase the size of their company in 2013. Twenty-seven percent of the membership report revenues up to $5 million (up 21 percent in 2012) and 19 percent report revenues from $5 to $20 million (up 11 percent from 2012).

Other highlights from survey include: 25 percent of respondents are federal contractors and the Department of Defense is their biggest buyer. Twenty-nine percent of businesses are currently certified WOSB/ EDWOSB, and the largest NAICS Codes qualifying under the WOSB program was management, scientific and technical consulting services.

to 58 percent in 2013. Ninety-four percent of companies with revenues above $5 million offer health coverage. Staying competitive is the reason most often cited for offering health insurance. Tax credits for providing employee health insurance are not well understood and one-third feel they need more information.

Exporting represents a huge opportunity for growth. Fewer than 18 percent currently export a product or a service to another country.

However, more than 29 percent have considered or will consider exporting as an additional part of their company goal. Thirty-three percent are very interested in WIPP’s new EXPORTNOW program.

“Women business owners are very engaged with new developments Concern over fuel in technology, with 90 prices as an impediment to busipercent reporting that ness growth rose from 2012.

Additional educa- they try to stay abreast of tion on the WomWomen business en-Owned Small owners are very Business (WOSB) innovations that could be engaged with new procurement prodevelopments in incorporated into their technology, with gram is important.

More than half of 90 percent reportthose not currently ing that they try companies.” registered as WOSB or EDWOSB said they are not aware of the program or of the registration process.

Government regulations are seen to have significant impact on 88 percent of the companies interviewed. Tax code revisions treating business deductions and credits equally regardless of legal structure are now supported by over half of the respondents, consistent with 2012 results.

Access to capital continues to plague women business owners. The perception of tightening of bank credit keeps better than one in four from seeking outside funding. Sixty percent report they were successful in seeking funding after an average of two attempts and only 32 percent of minority-owned companies successfully obtained capital.

Companies offering health insurance have rebounded from a low of 48 percent in 2012

to stay abreast of innovations that could be incorporated into their companies.

Seventy percent use social media, 80 percent mobile devices and website management tools, and use of cloud computing has significantly increased.

All in all, this has been a successful year for WIPP and its government relations efforts.

WIPP membership is incredibly involved and engaged in the process, and is interesting in tackling the important issues of today and tomorrow. We are honored to count WIPP members among our strongest advocates. Our work is only as strong as the women business owners we represent.

• Due to WIPP’s decade-long advocacy, women business owners have a seat at all the policy tables.

• The annual survey of WIPP members provides insights into the current economic environment and the issues important to women-owned firms that should be addressed by Congress and the Administration.

• Three-quarters of the businesses interviewed assigned the highest possible importance rating to the economy, making it the single most important category investigated.

• Women business owners are very engaged with new developments in technology, with 90 percent reporting that they try to stay abreast of innovations that could be incorporated into their companies.

Barbara Kasoff President & Co-Founder of Women Impacting Public Policy, Inc. (WIPP). bkasoff@wipp.org.

N Magazine | 25

INDUSTRY OBSERVATIONS

visionary EQUATOR’S EVOLUTION Ten years ago, Equator had an idea of how to advance their business with the employment of technology – what kept the company going was their love for the industry.

BY ASHLEY BEAN Vice President Real Estate Equator, LLC

26 | N Magazine

INDUSTRY OBSERVATIONS

M

any years ago, around the time of the Y2K scare, the work life of a person in a default shop was very different than it is today. Imagine – or remember if you will – walls of files filled with paperwork; another wall filled with fax machines; runners who’s responsibility it was to distribute stacks of faxes and mail without losing pages; written approval sheets for each offer, repair, or change in a transaction; logs with phone conversations where terms of the deals were documented; a never-ending blinking light which indicated a yet unheard message from an agent; each person handling the entire file from beginning to end; and each asset manager handled a staggering 50 to 80 properties at any given time. This exciting and active world was heavily supported by highlighters, colored tabs, Post-it notes and file cabinets for those “most active” files. It was fast-moving, exciting and companies were changing, consolidating and relocating almost as much as they are today.

Around this time, I was employed by a large financial institution and was approached by Equator Chairman Mark McKinley, and Chris Saitta, president, regarding a company with a vision of how the ever-expanding Web could be used broadly in real estate. They wanted to be able to automate our processes to make our lives and business run smoother without the need to abandon our main servicing systems. Most specifically, it had the potential to revolutionize working relationships in REO sale transactions. As you might expect – with any new venture — it was examined with excitement, enthusiasm, trepidation and in some ways, hesitation. The need was great but the question, “Is it necessary at this time?” weighed heavily on our minds. When Equator launched in 2003, the housing market had little REO volume and residential real estate was fairly strong. The nation had 132,521 REO sales in 2003. That increased to a whopping 892,849 sales at the peak of REO transactions in 2009, according to data from CoreLogic.

A new and exciting era began almost then and there. The passion and excitement of the team was contagious. Equator — then under its previous name REOTrans — was entering an untapped market where anything was possible to those willing to take the ride. Saitta has been quoted as saying, “I’d love to tell you

that I was smart enough to see what was coming, but that just was not the case. We certainly vetted the concept knowing that 100 percent loans were being made and HELOC’s were being put on top of them so there might be an issue down the road.”

For our team, a mantra of “what if ” was born and nothing was outside of due consideration.

A calculated approach was taken, adding properties an area at a time with the least tech-savvy members on the team to verify that a new age approach was possible. Within weeks, the learning curve was behind them and their productivity was expanding at a lightning-speed pace. Those with an adventurous spirit were quick to join the “what if ” call and the system enhancements have been coming ever since.

cally, in the right time and with the right requirements. What has changed with oversight is the need to make all of that transparent with reportable validation, confirmation and uniformity. This is certainly a challenge for an industry where each and every transaction has a unique nature. Technology has made this possible even with the multitude of possibilities each deal brings. Documentation is tied to every transaction along with a clear picture of who, what, where, when and how. This was far more difficult in the years of the stapled-on check list and colored tabbies.

“The past decade has dramatically changed how we do business. What has not changed is why we do business.”

“What if ” terms were negotiated ahead of the full contract sign-offs without faxing pages back and forth; values arrived electronically; messages were tied to properties; property preservation was automatically ordered immediately upon confirmation of vacancy; you were flagged when your property might need to be reviewed for pricing or term changes; agents could manage all this from their cell phone while out in the field.

Since then, Equator has changed the face of the default industry making it possible for real estate agents to keep everything documented and stored in one place. Equator also made it possible for default shops to scale up and down, transfer properties without missing a beat and provide a level of accuracy and transparency never even considered in 1999. Equator also provided the ability to share work based on capabilities, place orders based on conditions, enable asset managers to handle 300 to 400 properties with ease and have the ability to communicate quickly and efficiently.

What should not be lost in this story is that real estate and the industries that service it have seen a whirlwind of oversight. The old adage that “the more things change the more they stay the same” is as true today as when it was first penned. From my very early days in this industry, it was clear that the only way to succeed was to do things well, do them ethi-

The future is yet unwritten and inventing the future through “what if ” ideation continues to drive the creative minds of the technology industry to the highest heights. The past decade has dramatically changed how we do business.

What has not changed is why we do business.

It is the love of industry, the ever-changing face of how it is done, the satisfaction of the completed transaction and the knowledge that the fascination with it will never end.

With nostalgia, I look at the dried-out highlighters that are still held with esteem in my top desk drawer. Equator changed the face of REO and default in just a decade. I was very fortunate to have been along for the ride not as an employee but as a client. I’m so excited to see what technology has in store for us next.

• Equator Chairman Mark McKinley, and Chris Saitta, president, had a vision of how the ever-expanding Web could be used broadly in real estate.

• When Equator launched in 2003, the housing market had 132,521 REO sales that increased to a 892,849 sales at the peak of REO transactions in 2009.

• Equator provided the ability to share work based on capabilities, place orders based on conditions, enable asset managers to handle 300 to 400 properties with ease and have the ability to communicate efficiently.

N Magazine | 27

ceo cENTER(fold) 28 | N Magazine

“I also use the latest technology to understand the current market and to make the connections necessary for our success.”

ELIZABETH GOODCHILD Broker/Owner WEICHERT, REALTORS - GOODCHILD HOMES 1440 Hicks Rd., Suite 200 Rolling Meadows, IL 60008 www.goodchildhomes.com (847) 670-1500

A Strong Force in a Fierce Market Elizabeth Goodchild, Broker/Owner of Chicago-based Weichert Realtors Goodchild Homes, is not afraid to take risks for her business and go for her goals on her personal path to success.

A

mother, a wife and one of Chicago’s most successful real estate agents and entrepreneurs, Elizabeth Goodchild has it all. However, she did not accomplish this without her dedication to education and her strong will to work hard — but play harder.

As Broker and Owner of Chicago-based Wiechert Realtors Goodchild Homes, Goodchild has been a dominating force in real estate for more than 20 years. From her humble beginnings of coming to the U.S. from the Philippines in 1978, Goodchild lived in a twobedroom, one-bathroom bungalow in Chicago with about 24 of her family members. An over-achiever from the start, she graduated high school at only 15 years old and went on to get her Masters in Business Administration (MBA) and Certified Public Accountant (CPA) certification. From there, Goodchild went on to a position as the Chief Financial Officer of Chicago magazine and senior financial executive for several successful corporations.

When looking to move from the city to the suburbs, after engaging with her realtor, Goodchild discovered her interest in real estate. “I decided to capitalize on getting a real estate license. When you have kids you want a career that offers flexibility and at that time I had twins and a three-year-old,” Goodchild stated. “I needed to start a business. My real estate company was born in the basement of my home in 2002 where I attracted 17 agents to come work for me in my basement,” she explained.

When 2008 came around and the housing market took a major hit, Goodchild was not going to let that slow down her success. She said, “With my background in finance, I was able to look for forwardthinking strategies. I knew that being an independent company, we were not going to survive the tsunami in 2008 and I needed to get into a bigger ship.” And if building a business is about taking risks, she was about to take a big giant leap of faith. “In 2008, I made the bold move and bought a franchise. When everything was closing down, there I was moving from a house basement to a 4,300-squarefoot office building and creating salaries and jobs for employees,” Goodchild said. She added, “I know how to run a company and I was determined to run this company like no other.” That she did.

Wiechert Realtors Goodchild Homes sold approximately 430 homes in 2012 grossing $67 million in revenue.

Goodchild attributes her success to education and has a strong conviction of the power of education and what one can accomplish.

By Carina Calhoun

“I firmly believe in education. You have to grow yourself in every which way possible in order to expand your business. You can sit there as a realtor and think that you know it all after 25 years but not if you don’t continue to learn,” she stated. “I teach REO classes, HUD training and coaching classes to my 40 agents in my brokerage right now. It is hands-on coaching with my agents and weekly sales meetings with my own curriculum. Education is truly a big part of my success.”

As one of NAWRB’s first members, when the association was only about four months old, Goodchild made it her mission to maintain a competitive edge in the real estate industry. “Thanks to NAWRB, I was able to get into Freddie Mac just last October. And as Illinois is the number one foreclosure state in the nation, we’re still going to deal with foreclosures and short sales in my area for the next three to four years. In the Chicago market overall, the market is looking good and the competition is looking fierce.” With a primary focus in firsttime home buyers, mover-uppers and the luxury housing market, Goodchild has developed easy-to-use financial tools that benefit both buyers and sellers — helping them make better decisions and improve their return on investment. She added, “I also use the latest technology to understand the current market and to make the connections necessary for our success.”

Voted as one of the “Top Realtors in the Chicagoland Area” by Chicago magazine three years in a row — 2011, 2012 and 2013 — she holds a CPA degree, MBA, and a number of real estate designations: ABR, CDPE, CRP, CRB, CRS, GRI, and SRES. Goodchild is a mother to Grace and twin boys Darien and Daniel, and wife to Broker Associate David at Weichert. When it comes to balancing her professional and personal life, to Goodchild, there is no separation.

“The key to managing and balance is you have to involve your family in your business. Our vacations involve bringing our kids when we go to conventions or business conferences. Spending time in the evening are the kind of things me and my husband do to spend quality time with our kids. They love it. You’ll see [my kids] at open houses and they are very much intertwined in my business life.”

Turning the big 5-0 this year and not afraid to shout it from the rooftops, Goodchild energizes herself by staying physically active.

She will be participating in the Chicago marathon — a challenge she approaches with motivation and dedication which is the core of her career in real estate.

N Magazine Magazine | 29

National Women’s Business Council

W

hile many use the term “women-owned” to quantify women’s economic activities in accordance with federal procurement standards, the National Women’s Business Council (NWBC) believes women-led is a more accurate measure. Through NWBC’s new research, we have identified that successful women-led businesses have a variety of trajectories and strategies for growth. In many cases, successful women entrepreneurs running high-growth companies have chosen to give up equity in order to raise capital. While women-led businesses are less than 51 percent owned by women, women still have a significant leadership position and ownership within the company, and this matters because many of these women-led businesses are driving economic growth and disrupting the industries they are entering.

Important highlights from the infographic include: • Women have a greater economic impact than most think — 36 percent of employer firms are either women-owned or women-led. Seventeen-and-a-half percent of employer businesses are 51 percent owned by one or more women. Yet, 18.8 percent of employer firms are at least 30 percent owned by women and have a woman in a leadership role. When those two numbers are added together, women’s economic impact is much clearer. That makes 36 percent of employer

30 | N Magazine

firms that are either women-owned or women-led. When not focusing on women’s leadership role within a company, the numbers look even better. 42.4 percent of businesses are at least 30 percent owned by women. These firms capture 26.1 percent or $2.6 trillion in receipts.

• Successful women-led businesses have a variety of trajectories and strategies for growth. There is no one right way to grow.

NWBC’s new research shows that firms with more owners make more money based on median receipts. Additionally, women and men-owned firms that have owners of the other gender perform better when looking at median receipts than firms owned just by men or women. Despite this, women do not take on partners as much as men do; 89 percent of firms entirely owned by women have just one owner.

The infographic profiles NWBC Council Member Lisa Price, Founder and President of Carol’s Daughter, and her path to growth from her shop set up in her home to a global brand with $40 million in annual revenue. Price’s growth trajectory demonstrates that there is no one right way to grow, and women should be empowered to seek partnerships when it makes sense for them and their business.

o Consider your personal goals – Where do you see your business going? o Consider your brand and role – Are you, your vision, and your brand integral to the continued growth of the business? If not, giving up equity may be risky. o Consider your network – Have you fully tapped your personal connections and resources? o Consider your pitch – Are you speaking to the investor?

• The private sector needs to focus on women-led businesses.

Procurement practices in the public sector often require that women have 51 percent ownership of a company to compete as a woman-owned business. Initiatives in the private sector, such as increasing supply chain diversity, should not require women to have 51 percent ownership. Enforcing this public sector requirement in the private sector may be limiting women's access to equity capital and curtailing the growth of their businesses and participation in private sector opportunities.

“While women-led businesses are less than 51 percent owned by women, women stil have a significant leadership position and ownership within the company...”

• A broader definition of women in business better captures their true economic impact. There are a growing number of women who have founded and grown multi-million and even billion dollar businesses. More often than not, these women have partnered with investors and no longer own 51 percent of their company. The success and economic impact of these women is discounted when we focus on 51 percent ownership.

In NWBC’s new infographic, we have offered a model for conceiving of the continuum of growth as women transition from women-owned businesses to women-led business through growth and partnerships. We have also highlighted a handful of the highly successful women running public companies, as well as a selection of female founders who now own and manage global brands.

• Women need to start thinking seriously about growth through partnerships. There are a number of things to consider when exploring equity: o Consider the health of your business – Is this the right time? o Consider your industry — Are investors interested and active?

The infographic is the second in a series that NWBC is producing utilizing its original research and new data sources from the Census Bureau.

NWBC launched the infographic during its public Council meeting in San Francisco, Calif., on August 14, and we were excited to see that our research was well received, indicating a strong desire to broaden the conversation around women’s role in the economy. The meeting was open to the public and included guest speakers on women in technology and access to capital from key organizations, including Astia, Women 2.0, Kiva, Hummer Winblad Venture Partners, and BranchOut. Sharon Vosmek, CEO of Astia, noted the term ‘women-led’ better captures the businesses Astia partners with in the high-growth, technology sector spaces, where relationships with investors are essential for growth. Additionally, Ann Winblad commented that her firm had never funded an individual, because ‘individuals don’t scale,’ reinforcing the need to form teams and partner for growth. The dynamic discussions were moderated by NWBC’s newly appointed Chair, Carla Harris, Vice Chairman of Wealth Management at Morgan Stanley and newly appointed Council member Shelly Kapoor Collins, CEO of Enscient Corporation.

N Magazine Magazine | 31

WOMEN-LED BUSINESSES: GROWTH & IMPACT FIRMS WITH MORE OWNERS MAKE MORE MONEY. 1 owner

WOB

% OF EMPLOYER FIRMS OWNED

65.3%

3.1% 2.5% 3.0% 2.6% 2.4% 0%

<10% <20% <30% <40% <49%

10.9% 50%

2.2% 1.0% 1.5% 0.4% 0.3% 4.8% <60% <70% <80% <90% <99% 100%

% OF RECEIPTS

17.5%

0%

290 630 1000 1600

<10%

330 850 1300

<20%

370 940 1300

<30%

360 630 1200

<40%

390 620 1100

<49%

390 730 1100

50%

290 460 530

<60%

380 720 890

<70%

440 460 920

<80%

290 470 700

<90%

260 650 620

<99%

260 640 680

100%

170 240 350 380

% OF FIRM THAT IS OWNED BY WOMEN

42.4% OF BUSINESSES ARE AT LEAST 30% OWNED BY WOMEN. THESE FIRMS CAPTURE 26.1% OR $2.6 TRILLION IN RECEIPTS.

90% of equally owned firms are jointly owned/operated by a husband and wife.

WOMEN AND MEN-OWNED FIRMS THAT HAVE OWNERS OF THE OTHER GENDER PERFORM BETTER. EQUALLY-OWNED

WOB

780 640 470

580 460

360

420

500

420

290

340

300 180

0%

32 | N N Magazine Magazine

<10%

<20%

<30% <40% <49%

50%

<60%

<70%

% OF FIRM THAT IS OWNED BY WOMEN

<80%

<90%

<99%

100%

MEDIAN RECEIPTS PER FIRM ($1000)

MOB

3 owners

4 owners

MEDIAN RECEIPTS PER FIRM ($1000)

62.7%

20%

2 owners

% OF FIRM THAT IS OWNED BY WOMEN

17.5% OF BUSINESSES ARE 51% OWNED BY ONE OR MORE WOMEN. WOMEN-LED BUSINESSES ARE LESS THAN 51% OWNED BY WOMEN, BUT WOMEN STILL HAVE A SIGNIFICANT LEADERSHIP POSITION AND OWNERSHIP WITHIN THE COMPANY. MOB EQUALLY-OWNED

89% OF FIRMS ENTIRELY OWNED

BY WOMEN HAVE JUST ONE OWNER.

Data obtained from Census Bureau Survey of Business Owners Public Use Microdata Set, 2007. All data refers to employer firms.

Successful women-led businesses have a variety of trajectories and strategies for growth. There is no one right way to grow.

Here’s how Carol’s Daughter founder, Lisa Price, did it.

PRESENT ADVICE:

Allocate your time & expertise efficiently.

Focus on the market and customers and where they are going.

a $40M

Continued to develop leadership skills as the business grew larger.

Evolved brand to focus on lifestyle, texture, style.

$30M

Continued to grow business and expand into hair salon and new products.

Began selling on HSN.

2008

REVENUE

Realized she had grown company as much as possible on own. Needed outside partners.

ADVICE:

Do everything you can on your own to grow.

Align yourself with the brand before giving up equity or you’ll give up more than just equity.

Two business loans, including one backed by the SBA, enabled expansion.

2003

Partnered with Steve Stoute and split equity stake evenly. Became a beauty brand.

Needed significant infrastructure investments in company.

Had more money to grow company aggressively.

Celebrity investors joined company for support and brand elevation.

ADVICE: DVICE:

Become comfortable with th rapid growth, exposure andd risk.

Appeared on Oprah in 2002 by doing her own PR.

$50 EARNED AT FIRST FLEA MARKET

Learn as your business grows and get as much experience as possible to understand the customer.

Invested money from sales to open flagship store in Brooklyn.

$1M $iM EARNED WHEN TR ANSITIONED INTO STORE

1993

START

Pegasus Capital invested in company.

Rented a warehouse to house storage, shipment, and customer service.

Moved production to location in 2002.

1999

Invested $100 into making and selling productsat a flea market and later out of her home.

Recognize your unique role and strengths in the organization.

Capital allowed for more sophisticated look for the brand, which changed their exposure and customer base.

Don’t n’t sweat small ll stuff!

Creation of showroom in home.

Made goal of always being profitable.

Grew organically and connected with customer through identification of their needs.

Conducted market research on HSN. ADVICE:

Partnered with

2005

REVENUE

ADVICE:

Make use of lessons learned from previous experiences to make smart investments & improvements over time.

Keep costs minimal

Invested in as long as possible. building client base through word of mouth.

N Magazine Magazine | 33

Women Leading the Way Women with less than 51% ownership are leading extremely successful public and privately held businesses.

LEADERSHIP ROLE IN COMPANY

MORE

LEVEL OF OWNERSHIP

LEADERSHIP ROLE IN COMPANY

LEVEL OF OWNERSHIP

Women Employees with Some Equity or Minor Women Investors

Women’s ownership and leadership of companies takes many forms, from a sole proprietor to a CEO of a public firm.

Whether she is an angel investor who owns 20% of a startup or a company president who owns 35% of a business she founded and grew through external equity partnerships, no matter where a woman business owner sits on this scale, she’s on the same continuum of growth and investment.

Women-Owned & Led Company MORE

LESS

Women-Led Company

Major Women Investors

LESS

Irene Rosenfeld MONDELEZ INC. (KRAFT), CHAIRMAN, CEO REVENUE: $35B

'12

WOMEN LEADERSHIP IN PUBLIC COMPANIES Sheryl Sandberg Meg Whitman FACEBOOK, COO Ursula Burns HP, PRESIDENT, CEO Marissa Mayer Carol Meyrowitz REVENUE: $5B '12 REVENUE: $120.4B '12 TJX COS., CEO

REVENUE: $25.9B

2004

YEAR ENTERED POSITION

XEROX, CHAIRMAN, CEO REVENUE: $22.4B

'12

2005

2006

2007

Patricia Woertz REVENUE:

$90.6B '12

REVENUE:

REVENUE:

$34.8B '12

PEPSI, CHAIRMAN, CEO

$37.2B '12

2010

2011

REVENUE:

2012

'12

2013

Phebe Novakovic

GENERAL DYNAMICS, CEO, CHAIRMAN

DUPONT, CHAIRMAN, CEO

Indra Nooyi

ORACLE, CFO, PRESIDENT

2009

REVENUE: $4.5B

Ellen Kullman

ADM, CHAIRMAN, CEO

Safra Catz

2008

YAHOO, CEO, PRESIDENT

'12

REVENUE: $31.5B

Ginni Rometty

'12

IBM, PRESIDENT, CEO

$65.5B '12

REVENUE:

$104.5B '12

WOMEN LEADERSHIP IN PRIVATE COMPANIES Sara Blakely Robin Chase SPANX, CEO

REVENUE:

$250M annually

Lisa Price

CAROL’S DAUGHTER, PRESIDENT REVENUE:

$40M annually

F O U N D AT I O N Y E A R

ZIPCAR, CEO

REVENUE:

$186.1M '11

Cella Irvine VIBRANT MEDIA, CEO

REVENUE: $100M-$200M

Sophia Amoruso Shazi Visram Kim Nelson '11

NASTY GAL, CEO

REVENUE:

expected $128M '12

Laura Johnson Rebecca Rescate Lani Lazzari COTON COLORS, CEO

REVENUE:

$5M annually

CITIKITTY, FOUNDER REVENUE:

SIMPLE SUGARS, CEO

>$1M '11

REVENUE:

PRIVATE COMPANIES

Jessica Herrin

Tory Burch

TORY BURCH, CEO

34 | | N N Magazine Magazine

$37M $175M '11

$40M annually

DAISY CAKES, CEO

REVENUE:

$605,000 '11

Julie Ison Haley EDGE SOLUTIONS, CEO

$40,000 '11

REVENUE:

$21.8M '11

1993 1994 1995 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

PRIVATE COMPANIES

STELLA & DOT, CEO

HAPPY FAMILY, CEO

REVENUE:

C O M PA N Y

I N V E S TM E N T TO D AT E REVENUE

C O M PA N Y

$2M fromI Nfamily I T I A L I N V E S TM E N T $800M '12 REVENUE

PRIVATE COMPANIES PRIVATE COMPANIES

Julia Hartz

EVENTBRITE, PRESIDENT

C O M PA N Y

$250,000 I N I T I A L I N V E S TM E N T $140M I N V E S TM E N T TO D AT E $50M REVENUE

Jennifer Hyman

PRIVATE COMPANIES

Hayley Barna & Katie Beauchamp

RENT THE RUNWAY, CEO

$55.4M $20M '11

C O M PA N Y

I N V E S TM E N T TO D AT E REVENUE

BIRCHBOX, CO-FOUNDERS

$55.4M $20M '11

C O M PA N Y

I N V E S TM E N T TO D AT E REVENUE

FACTORS TO CONSIDER WHEN EXPLORING EQUITY WHEN CONSIDERING PERSONAL GOALS:

WHEN CONSIDERING HEALTH OF MY BUSINESS:

Where do you see your business going?

WHEN CONSIDERING THE INDUSTRY:

Is this the right time?

Are investors interested and active?

WHEN CONSIDERING YOUR BRAND AND ROLE:

WHEN CONSIDERING YOUR NETWORK:

WHEN CONSIDERING YOUR PITCH:

Are you, your vision, and your brand integral to the continued growth of the business?

Have you fully tapped your personal connections and resources within your community?

Are you speaking to the investor?

IF NOT, GIVING UP EQUITY MAY BE RISKY.

HIGHLY CONNECTED PEOPLE HAVE AN EASIER TIME RAISING MONEY.

WHILE ENTREPRENEURS LOVE THEIR PRODUCTS AND SERVICES AND WANT TO SHARE THIS ENTHUSIASM, INVESTORS NEED A RETURN ON THEIR INVESTMENT AND WANT TO HEAR ABOUT THIS.

CONSIDERATIONS Increasingly, investors are focusing investments on women-owned or -led businesses. Yet, women do not take advantage of equity financing as much as men.

Procurement practices in the public sector often require that women have 51% ownership of a company to compete as a woman-owned business, which may be discouraging women running growing businesses from bringing on investors.

Initiatives in the private sector, such as increasing supply chain diversity, should not require women to have 51% ownership. Enforcing this public sector requirement in the private sector may be limiting women's access to equity capital and curtailing the growth of their businesses and participation in private sector opportunities.

There are a growing number of women who have founded and grown multi-million and even billion dollar businesses. More often than not, these women have partnered with investors and no longer own 51% of their company. The success and economic impact of these women is discounted when we focus only on 51% ownership.

For complete description of the data source and methodology, please see the infographic in NWBCâ&#x20AC;&#x2122;s 2012 Annual Report at N Magazine | www.nwbc.gov/research/nwbc-2012-annual-report.

35

BUSINESS MODEL

NAWRB declares a developed approach to business with a new name, but remains rooted in their original mission of empowering women.

L

ast month, NAWRB was excited to announce the official change in the company’s acronym from the National Association of Women REO Brokerages to the National Association of Women in Real Estate Businesses.

This adjustment was made to better reflect the association’s emerging business model that will broaden opportunities beyond REO brokerages to include all women specializing in the housing economy.

By Lauren Felechner

alyst Real Estate Professionals, president of San Jose Association of Realtists, Inc. and CEO at 360 Minds Marketing Guru agreed with NAWRB’s evolution. “It is important to be flexible with the direction of the real estate market,” Badger stated. The Five Star Institute – who NAWRB stayed in close contact with leading up to the 2013 Five Star Conference & Expo — said, “It’s perfect! We love the new name!”

members, non-members, advocates and associates,” Carina Calhoun, Director of Communications, NAWRB stated. She continued, “Companies constantly have to re-invent themselves to stay afloat in today’s economy, and NAWRB has expanded its realm to better represent and be a voice for the women of real estate.”

For NAWRB members, the National Association of Women in Real Estate Businesses is NAWRB advocates for federal initiatives an exclusive source of women-owned business to increase the utilization of women-owned certification unique to real estate. The asso“The decision to change the name of the businesses and works with financial institu- ciation remains in the public’s eye by staying N AW R B active in conacronym ferences, meet“The decision to change the name of the NAWRB acronym was a was a prodings, frequentuct of the ly hosting product of the evolution of the real estate industry, starting over evolution of and attending the real esnationwide intwo years ago with our trademark tag line, ‘SHE (Specializing in tate indusdustry events the Housing Economy) is Changing Real Estate.’” try, starting and working over two as a resource years ago with our trademark tag line, ‘SHE tions to encourage greater visibility of certified for members seeking guidance on government (Specializing in the Housing Economy) is women-owned businesses to vendor networks. contracting, new business opportunities, social Changing Real Estate™,’” said Desirée Pat- Additionally, NAWRB provides its members media, marketing and broker training. no, CEO of NAWRB. She continued, “The with information and guidance for obtaining new name encompasses all women that government contracts, new business opportu- Although the acronym was changed to diverwork within the housing economy.” nities, social media support, branding, educa- sify and stay current with the evolving real estion and Women-Owned Business (WOB) tate industries, NAWRB itself has remained As the market progresses, NAWRB has and Minority Women-Owned Business intact with the same provisions, goals and outmore ways to serve members, advocate on (MWOB) certifications. NAWRB also part- look. NAWRB maintains its position as the their behalf and expand their business op- ners with members to foster a stronger, en- most visible women’s trade association speportunities. The company’s amplified focus riched and deeply interconnected community cializing in the housing economy. As the only is already yielding impressive results with of women business owners and entrepreneurs. provider of WOB and MWOB certifications specific to real estate, NAWRB is dedicated additional members, sponsors, advocates, marketing, media exposure and advertisers NAWRB’s name change quickly made its to the promotion of underrepresented womvoicing the tremendous strengths, capabili- rounds to news outlets — gaining exposure en and the businesses they own, manage and ties, contributions and accomplishments of and support from fellow organizations. Hous- operate — SHE is Changing Real Estate™. women in the housing economy. Through a ingWire and DSNews both featured the new variety of media platforms, advisory boards, National Association of Women in Real Es- For more information on NAWRB and how advocacy programs and its own recently ex- tate Businesses — congratulating NAWRB the association could best service your company and business, please visit www.NAWRB. panded international N Magazine, NAW- on the establishment’s brand renewal. com. Also, connect on social media to stay RB continues to work hard to be part of “The Collective Voice” to empower women. “I believe the change in NAWRB’s acronym up-to-date and in-the-know with the latest was a step in the right direction to be able to announcements via Facebook, Instagram and Shawneequa Badger, sales manager of Cat- properly relate and communicate with our Twitter at @NAWRB.

36 | N Magazine

are YOU GettInG 30% roIs? Chrimata, Inc. is a real estate investment corporation with more than 12 years of experience in buying, selling, remodeling and managing single-family properties in Southern California. Its team of office and field resources specializes in niche areas to provide maximum acquisition opportunities and returns on investments.

Invest for real profIt Contact

I

CHR MATA NC.

CHRIMATA, INC. Phone: (714) 396-6622 Email: chrimatainc@gmail.com N Magazine | 37

TECHNOLOGY

TECH TOOLS OF THE TRADE Technological advances have transformed the way we do business in the real estate industry.

BY CARINA CALHOUN As the real estate continues to evolve, new gadgets, applications and technologies are being introduced to the industry. New and innovative ways for agents, underwriters, and the like to engage and increase productivity. It has changed the mobility of the industry from the moment the first computer hummed in an office and has made it possible to do just about anything, anywhere, at anytime. Which, in the real estate realm, is a vital factor to conducting business. However, is the new wave of technological advancements in real estate taking away from the very component in which the industry is formed upon? Building personal, one-on-one, relationships with clients, customers or colleagues may be taking a hit from technology.

“The Internet has reshaped how real estate is delivered to the consumer and how we as consumers manage our daily lives,” said Kathy Connelly, SCRP, senior vice president of corporate services for Prudential Georgia Realty. “The next iteration of use of online technology will be in mobile access and utilization of mobile devices. It may be as impactful as the Internet itself.” For instance, the Xerox Mobile Scanner is a small scanner which allows one to scan and send documents on the go. Just insert the document into the portable, lightweight scanner, and it’ll turn multipage paper documents and images into PDFs or JPG files that you can then send wirelessly to a computer, Smartphone, tablet, or the web. It’s being hyped as the first battery-powered Wi-Fi scanner that doesn’t require a computer or a USB port and the scanner comes with rechargeable batteries. This device will make getting documents signed and sent in a click of a key.

president and CEO of Leading Real Estate Companies of the World®, “At the minimum, most brokerages have developed mobile versions of their websites, and now many are creating specific mobile apps.”

“Mobile devices like Smartphones, tablets and other new technologies help agents to access information at anytime, anywhere,” Dustin Moore, president of real estate solutions at A La Mode, Inc., a real estate technology company. “Because real estate agents are constantly on the road, these tools help to drive sales faster. Consumers are also using mobile tools to search for new homes at increasing rates.”

Another important type of technology changing the game are tools for collaboration and sharing information quickly, like enterprise software. This technology leads to faster, cleaner transactions between real estate agent and buyer.

He continued, “Whenever these two aspects line up in one product, that's when things get really powerful.

Mobile is the way of the future, and it’s helping agents to track and access important documents and information on the road, leading to cleaner transactions with consumers,” Moore explained. “And they've got a lot to track: thousands of contacts, changing schedules, contracts and closing documents, information on listings.

At any given time, an agent’s plate is clouded with a big, complicated lump of information.”

The problem that real estate professionals cite most frequently today is losing touch with their customers — a real struggle in a people-centered business. Tom Cryer, According to an article from the WorldWide Work- SCRP, broker associate and realtor for Kentwood Real force Mobility Association, the move toward mobile Estate, commented, “Technology has made it easy to technology is one that has affected most real estate pro- forget the importance of face-to-face meetings.” fessionals. As a result, no longer is business just working to adapt to it. Instead, said Pam O’Connor, SCRP, With technologies like the DeLorme inReach users can 38 | N N Magazine Magazine

TECHNOLOGY

“This expansion into mobile technology is just the latest in the ever-growing real estate toolbox.” that trend and get ahead of the curve was Brad Charnas, SCRP, SRA, president and owner of Charnas Appraisal.

In 1996, Charnas saw that conducting business via hard copy, including print photography, was costing him — and the client — a lot of time and money. To remedy the situation, he decided that since technology had come far enough and the costs were low enough, he would give up paper. “Yes, some clients didn’t want to upgrade their technology and clung to their paper process,” he recalled.

“After giving my clients fair notice that I was transitionAnother issue facing companies transitioning their busi- ing to a paperless business, I simply stopped accepting ness to be more technologically adept is cost. “There are assignments that didn’t fit my new business model.” extreme expenses to develop the proper technology,” said Jay Delich, SRA, SCRP, IFA, president of Arizona Ap- Connelly added, " It has become clear that consumers are praisal Team, LLC. An additional problem that can be using mobile devices and tablets to search properties and overlooked by customers and younger colleagues is the get real estate information. Our mobile traffic has grown difficulty that more mature professionals have in learn- from 10 percent last year to over 30 percent in 2012. As a ing new technology. “It’s hard for the older generation to company, we have made significant financial investment adapt their business to how the younger generation com- in tools and technology to support our agents with their municates,” noted Marc Krebs, CRP, relocation manager online marketing efforts. Since many consumers start for Coldwell Banker Residential Brokerage. their search for real estate online, we have to leverage technology for maximum exposure of our listings to the Technologies such as the EXODesk, which can run up- market." wards of $1,200 to $1,500, can give a worker's desk a high-tech facelift by adding a 40-inch touch-screen dis- What’s been great for relocation appraisers is the time play to it. The EXODesk has a mammoth tablet screen saved by technology. They can measure a home with the that can lie flat on the surface of a desk, allowing you to electronic Disto, a laser measuring device, speeding up a connect, view, and operate your Windows or Mac com- usually lengthy process. There’s also the ability to review puter on it. You can use the EXODesk to view what’s on and inspect comparable and comparison properties. And your computer monitor or use the virtual keyboard to use with programs that auto-fill the appraisal form, even it as a standalone device. There is also the option to use more time is saved. The human aspect of arriving at an apps on the device, such as a gigantic pop-up calendar opinion of value is still imperative, yet the process has and planner for staying organized. This high-tech tool been refined. will cost companies a pretty penny.

Although there are many benefits of the move toward This expansion into mobile technology is just the latest in more technology in the mobility arena, there are some the ever-growing real estate toolbox. It wasn’t that long drawbacks. ago that the mobility business was almost exclusively paper-based. One of the first people in the industry to buck still keep in touch with clients or customers which allows Android phones to be transformed into satellite devices.

You can then use the device for two-way text messaging, remote tracking, and SOS emergencies from anywhere in the world. It also can be used as a standalone device so if you’re ever traveling to a remote area with clients, you’ll always be in touch and can call for help if needed.

No service? No problem. Users of this device can literally reach a client anywhere when necessary.

N Magazine | 39

FINANCE REFORM

Framing the Debate of Real Estate Finance Reform ange the ch y ll a c ti a m a r d underway will w o n ts r o eff m r Refo to come. generations for real estate market

By Debra W. Still, CMB

T

he secondary mortgage market has evolved into a sophisticated and complex system over the past 75 years. Five years after the height of the housing crisis, the debate over housing finance reform has begun, and we are now entering a pivotal time of change in the history of real estate finance in America.

There are many proposals across a wide spectrum of options that will ultimately be considered, and the government’s role in housing will be at the center of the debate. It will take years to rebuild the current model, and regardless of what that final structure may be, it must be based on a strong foundation of principals and infrastructure. As the debate ensues, there are key elements that must be included in every possible outcome. Developing and implementing them now will help move the industry out of limbo and will ensure a smooth transition to the final end state.

When the housing crisis began, the Federal

40 | N Magazine

Government took sound measures to ensure ongoing liquidity, stabilize the real estate finance markets and prevent further losses.

Fannie Mae and Freddie Mac were put into conservatorship; Congress passed the DoddFrank Act; the Administration developed programs to help modify loans for at-risk homeowners; and the Federal Reserve instituted Quantitative Easing (QE3) so that borrowers could refinance or finance a home purchase at lower interest rates.

So what does the real estate finance landscape look like today? Nearly five years later, the Dodd-Frank rules are soon to be implemented. Lower interest rates have helped boost refinancing, and a modest housing market recovery has begun. Recent Federal Reserve announcements include backing off of QE3, the administration’s concerns about overly tight credit restrictions, and Congress is calling for Federal Housing Administration (FHA) safety and soundness measures. As it relates to the secondary mortgage markets, the

Government-Sponsored Enterprises (GSE) remain in conservatorship. Lawsuits from GSE shareholders, guarantee fee increases to pay for unrelated government spending, and non-transparent policy changes all serve to create ongoing uncertainty, limiting the return of private capital and hampering efforts to reduce the government’s role in the market.

This landscape provides a backdrop for new housing legislation recently introduced in Congress. The Corker-Warner GSE bill in the Senate and Financial Services Committee Chairman Hensarling’s reform bill in the House offer two very different options for the role of the federal government in the housing finance system and for long-term, sustainable real estate finance reform. The debate has begun.

To help lay the foundation for sustainable housing finance reform, Mortgage Banker’s Association (MBA) has proposed a series of transitional steps that can be implement-

FINANCE REFORM ed now. Each one of these steps advances healthy reforms to the secondary mortgage market and are compatible with most, if not all, proposals for an eventual end state. These enhancements should be put in place while the reform debate is ongoing so as to help pave the way for a smoother transition with the least amount of disruption to the marketplace and to consumers: 1. Fannie Mae and Freddie Mac securities should be made fungible for delivery to the TBA market.

2. The GSEs should implement up-front risk sharing options that restore private capital to the market and deliver the benefits of competition to consumers.

3. FHFA should take steps to ensure Fannie Mae and Freddie Mac offer viable secondary market options that work for lenders of all sizes and business models.

4. FHFA should continue to develop a transparent outer credit boundary for the GSEs and a common framework for reps and warrants that give lenders the certainty and confidence to lend to the full extent of the allowable credit box.

5. Stakeholders should be allowed greater input to the development of the Common Securitization Platform (CSP) to ensure the CSP’s maximum utility for the entire market.

homebuyer’s product of choice, the 30-year fixed-rate mortgage, and for the multifamily rental housing market; FHA single-family program reforms must strike the right balance between strengthening the agency’s fiscal solvency and maintaining its traditional role as a critical source of affordable credit for firsttime buyers and working families; and Provisions of the Dodd-Frank Act must be amended to improve credit availability by ensuring that more borrowers can qualify for Qualified Mortgage/ Ability to Repay loans, and that the private securitization markets can once again serve middle-class mortgage borrowers while continuing to support the commercial/multifamily real estate market.

“There are many proposals across a wide spectrum of options that will ultimately be considered, and the government’s role in housing will be at the center of the debate.”

This is the beginning of a lengthy and complex process to develop long-term real estate finance reform. Already the playing field is crowded with many proposals from policymakers, academics, industry stakeholders and consumer groups. It is our responsibility as industry experts, educate policymakers and step forward with an informed, pragmatic approach to reform that mitigates the impact of change on the marketplace.

As an industry, we’re committed to certain key principles, including: The U.S. secondary mortgage market should rely primarily on private capital, but also requires a limited but explicit federal backstop to maintain stable liquidity through all market cycles for the American

Enactment of any comprehensive real estate finance reform legislation is still years down the road. The “right” legislation will take time to develop as it will have considerable impact on the marketplace and on consumers. In the interim, to soften the impact of change, it is imperative we immediately begin to build critical core functions for any future system to assure a successful outcome.

Too much is at risk for our industry to sit back and wait for a final outcome.

• When the housing crisis began, the federal government took sound measures to ensure ongoing liquidity, stabilize the real estate finance markets and prevent further losses.

• Recent Federal Reserve announcements include backing off of QE3, the administration’s concerns about overly tight credit restrictions, and Congress is calling for FHA safety and soundness measures.

• To help lay the foundation for sustainable housing finance reform, MBA has proposed a series of transitional steps that can be implemented now.

Significant change in real estate finance is underway and it will dramatically affect our nation, our economy, our businesses, and most of all, consumers. There are many players and many voices with plenty of opinions in this debate, but our ultimate goal should be the same — a safe, sound, competitive real estate finance market where consumers are confident, taxpayers are protected, and businesses of all sizes can compete and thrive.

Debra W. Still, CMB President/CEO of Pulte Mortgage and Chairman, Mortgage Bankers Association. www.mortgagebankers.org.

N Magazine | 41

CROWD

N

What steps do you take to be more eco-friendly both personally and professionally?

HELEN LIU DESVEAUX

NANCY BRAUN

Co-Owner/President/Realtor The Colorado Real Estate Co.

Owner & Broker Showcase Realty LLC

“I decided to buy a hybrid vehicle for work and for persona use. We invest in energy-efficient appliances and we put in a tankless water heater several years ago. We also installed high-efficiency AC units for our home. And then just making a conscious effort daily to do the little things that matter such as turning off lights and electronics when not in use.”

“At home and at the office we have taken many steps to become more eco-friendly. We recycle, have programmable thermostats and have gone paperless at the office. At home we do most of our family shopping at farmers markets to support local farmers which reduces transportation pollution. We also eat 90 percent organic and avoid processed foods.”

LATIFE TATI GABRIE Realtor Cobalt Realty Group

BETTY HALL Agent Harcourts Prestige Properties

“Personally, I have a garden of all fresh fruits and vegetables and do not use water bottles. I also have my own bags made of cloth to grocery shop. Professionally, I use scrap paper and have my own ceramic cup for coffee. Once a week I carpool as well.”

Personally, I have made some pretty dramatic changes in the interest of sustainable living. I traded my Range Rover for a Prius, moved my office from 15 miles away to two miles. My children now go to school locally and participate in local extra-curricular activities. We support our local businesses. Making these changes was a risk that resulted in a better quality of life.”

DEBORAH BACARELLA Broker/Owner Elite Florida Real Estate “I just returned from the Florida Realtors convention where becoming paperless is still a hot topic. Personally I am using more cloud-based apps and storage. I save all my important papers to Dropbox and Google Drive. is also a great way to take 42 Evernote | N Magazine notes wherever you are.”

Karey Brown Realtor Keller Williams Legacy Partners, Inc. “We control our print marketing and try to do the bulk of it via E-mail. Rather than have a small documentary size file when a home closes we now have a checklist and everything else is uploaded to our secure Keller Williams E-edge site. We always request agents email rather than feel they need to trek across town with paperwork. On a personal level, we recycle and buy energy-efficient items for our home whenever possible.”

To be considered for publication in the N Crowd, please respond with creative solutions you’ve used to better manage your businesses, families, and selves. To find out the next issue’s question, E-mail info@ NAWRB.com.

Q+A

Dear Desirée CEO of NAWRB 20-plus year real estate veteran, investor, interior designer and successful entrepreneur

“Don’t take your friends for granted.

Value their time, business knowledge and support.”

Questions from our readers Ivy (Mission Viejo, CA): With loyal friends and family who list and sell their properties and agents control their title and escrow — why would people not want to give back to their connections and fight to do so?

Questions were submitted by individuals working in the industry.

You can submit your questions to Dear.Desiree@nawrb.com Ivy (Mission Viejo, CA): How do you get friends and members to respect you as a member and refer business to you? I have tried attending the seminars and networks and seem to get zero business!

Desirée Patno: Business has become very competitive with limited supply. Several agents have allowed themselves to “do whatever it takes” to get an offer accepted in addition to sending their buyers directly to the listing agent in hopes of getting the property for their client. With that being said, friends and members of organizations need to really communicate on a personal to business level — really dig into how you can support each other. You might be surprised! Don’t take your friends for granted. Value their time, business knowledge and support. Members within an organization really need to get involved to showcase who and what they have to offer to fellow members and staffing in a focused environment. It is a win-win business opportunity.

DP: Dealing with friends and family can sometimes be problematic due to sensitive issues. If you keep it strictly business, you should be able to maintain a professional relationship since you're dealing with one of the most important transactions of their life. With limited inventory, agents are hesitant to fight for what they believe is going to be the right connection. By showing how knowledgeable you are and making sure you are looking out for the best interest of the client, or for the seller, and that you're there to minimize any confusion, should be something that you should be able to fight for. The problem is a lot of people are fearful to engage. So how do you get around that? You have to sit down and answer some of their questions and concerns before they happen. Citing those complex issues can definitely help you utilize the people you trust and protect you in the long run.

Laurie (Newport Beach, CA): How can I assure my supervisor/boss that I am dedicated to my job and willing to spend some extra time at work as needed; but without shortchanging my home life and family's needs?

DP: Excellent question! With all of the changes in compliance and overhead issues that require more manpower today, appreciation toward employees and contributions they give is sometimes overlooked in our industry.

A definite compromise has to be played out to

where open dialogue must be evident to help balance the home life and work environment.

By involving family more into the work environment, the understanding on both sides will go a long way. Sharing thoughts and simple gestures will also contribute to the constant pressures and demands that are placed upon the supervisor.

Chris (Irvine, CA): Why do agent’s always seem so confused by the process of purchasing an REO home? What advice could you give to an agent that would help them prep prior to allow for a seamless transaction prior to submitting an offer and/or entering escrow?

DP: The most important thing an agent can do is to look at all information that is available. Research who is the client and communicate with the brokers office if they have any pre-packaged information on the process.

Successful selling agents will gain understanding on the process on how to submit an offer that will greatly improve their buyer's chances of securing the property.

Amanda (Temecula, CA): I’ve been trying for years, but is it even worth it to try to get an REO account at this point?

DP: As the market improves, the number of households underwater will continue to diminish yet there will continue to be a need for good REO agents. Several long time REO brokers are leaving the business for to retirement or business changes so the opportunity is still there. You have to work hard and networking with the right organizations always helps.

N Magazine | 43

what women want: HEALTH

GREEN IS THE NEW GORGEOUS The foundation to a healthy and gorgeous face is organic makeup — appear glamorous and live green.

Did you know that 80 percent of what you put on your skin is absorbed into your body? Vapour Organic Beauty products are created from certified organic, minimallyprocessed, food-grad ingredients. For a smooth — and not to mention safe — makeup product to protect your face from harmful chemicals that clog your pores, Vapour's most revolutionary offering is the original organic BB Cream, Stratus is a 3–in–1 moisturizer, primer and no-color foundation. Stratus Instant Skin Perfector is made with 70 percent certified organic ingredients and 30 percent natural mineral pigments and vitamins. Like organic food is healthier to eat, organic cosmetics is healthier to wear. Vapour strives to set an example for a sustainable purpose while excelling at creating fabulous products.

Vapour raises the bar for performance and purity with Stratus Soft Focus Instant Skin Perfector, a velvety variation of Vapour’s revolutionary original organic BB Cream. Stratus is a 3–in–1 moisturizer, primer, and no-color foundation. Stratus Soft Focus balances all skin types, including combination and oily skin, and leaves a smooth base for color makeup application while achieving a natural satin finish.

Vapour’s Light Reflective Technology immediately perfects the appearance of your skin — you immediately appear younger and refreshed. For a flawless finish use Stratus Instant Skin Perfector alone or under Atmosphere Foundation.

44 | N Magazine

Bring a touch of seductive light to your eyes with Mesmerize Eye Shimmer. Mesmerize defines and enhances while delivering hydrating antioxidants to the delicate eye area. Mesmerize contains no chemical adhesives. Chemical adhesives are designed to achieve longer wear time, but can irritate and prematurely age the delicate eye area.

Mesmerize may be worn alone or as a nourishing base-coat topped with a powdered mineral shadow for more dramatic effects and extended wear.

For more information, visit: www.vapourbeauty.com

By NAWRB Staff

FASHION: what women want

FERAL APPAREL

By NAWRB Staff Looking ahead to fall fashion trends, N Magazine is predicting animal print is the way to go. Adding a dash of print is a bold statement that fits perfectly for today’s female professionals. Whether it is a leopard-print clutch or jewelry, or a zebra-striped pencil skirt or scarf, animal print is a declaration of confidence and leaves a lasting impression.

Just because you are a working professional does not mean you can’t have fun with your work attire.

With animal print, a little goes a long way. Pairing a print with a solid color is a perfect combination of being assertive yet approachable. Something as little as a printed watch, ring or a pair of highheels can speak volumes. Prints aren’t limited to just leopard or zebra any more either. These days, snake skin, cheetah, giraffe and tiger are amongst the growing trend of animal prints that can be incorporated into fashionable pieces and accessories.

The great thing about animal print is that it doesn’t have an age limit or workplace reservations. There are ways to modestly wear prints without sacrificing your fashion needs. If you want your print to act as the centerpiece, combine a printed blouse or workpants with a sleek bun and soft makeup to avoid a sensory-overload.

Whatever level your animal-print indulgence may be, there is always something available for those who are looking to get their toes wet or just dive right in.

N Magazine | 45

What women want: Recipe

Oatmeal Lemon Crème Bars Networking is an important ingredient of any industry and what better way to spend time getting to know someone in your business than over a tasty treat? A great dessert might lead you in the right direction.

Ingredients: 1 1/3 cups all-purpose flour 1/2 tsp salt 1 tsp baking powder 1/2 cup butter, slightly softened 1 cup brown sugar, lightly packed 1 cup oats 1 can sweetened condensed milk 1/2 cup lemon juice zest of 1 lemon

Directions 1 Preheat oven to 350 degrees and lightly grease a 8x11 pan.

2 3 4 5 6

In a large bowl mix the butter and brown sugar until they are well combined.

In a separate bowl sift together flour, salt, and baking powder.

Add oats and dry ingredients to the butter mixture and mix to combine.

Press half of the oat mixture into pan. In a small bowl mix together sweetened condensed milk, lemon juice, and lemon zest. Spread evenly on top of the oat mixture in the pan. Top with the remaining oat mixture.

Bake for 20 to 25 minutes or until the top is golden brown. Let cool and refrigerate for 30 minutes or until set. Cut into bars and store in the refrigerator.

Recipe by www.justcallmemaria.com Please submit your favorite recipe to carina.calhoun@nawrb.com.

46 | N N Magazine Magazine

REVIEWS: what women want

READ IT & WATCH IT BOOKS Happy Money: The Science of Smarter Spending

By Elizabeth Dunn & Michael Norton Review by Lauren Felechner

Happy Money explores how people can achieve more happiness for their money by following five principles. These principles aren’t confined to only individuals, but also by companies seeking to create happier employees and products. These principles range from choosing experiences over materialistic belongings to spending money on others. New research illustrates unfounded views and enjoyment for readers – causing readers to ask themselves if they are getting the most out of their purchases.

The Bankers’ New Clothes

By Anat Admati & Martin Hellwig Review by Carina Calhoun

The Bankers’ New Clothes examines the concept of safer banking systems that would require the sacrifice of lending and economic growth. Admati and Hellwig argue we can have a safer and healthier banking system without any sacrifices at no cost to society. Weak regulation and ineffective enforcement allowed the buildup of risks that led to the financial crisis. Admanti and Hellwig seek to connect the broader public in the debate by clearing any confusion and presenting the issues in simple terms.

Knowing Your Value: Women, Money, and Getting What You’re Worth

By Mika Brzezinski Review by Alex Hernandez

Best-selling author Mika Brzezinski takes an in-depth look at how women today achieve their deserved recognition and financial worth, narrated in her self-deprecating but humorous tone. Mika interviews a number of prominent women throughout an array of industries discussing their experiences moving up in their fields. Mika also uncovers what men think about the approach women take in the workplace, blending personal stories and opinions with the latest research and polling.

Have you read or watched something lately that impacted you? Share your thoughts with N Magazine’s editorial staff and readers.

Send reviews to info@nawrb.com

films Despicable Me 2 Starring Steve Carrell & Kristen Wiig Review by Lauren Felechner

Despicable Me 2 is the sequel to the 2010 hit, Despicable Me, picking up with both new and returning characters. Gru (voice of Steve Carrell) is a single, adoptive father of three girls looking to manufacture a new line of jams with the help of his minions and friend. Gru is divided between assisting the Anti-Villain League in capturing a culprit who stole a top-secret serum and saving his oldest daughter from total heartbreak.

Grown Ups 2 Starring Adam Sandler & Chris Rock Review by Lauren Felechner

The all-star comedy cast from the 2010 hit, Grown Ups, returns with some exciting new additions for another round of laughs. Lenny (Adam Sandler) has relocated his family back to the small town where he and his friends grew up. In this sequel, the adults are the ones taking lessons from their kids on what happens to be the last day of school and experience the taunting of a group of cocky frat boys.

The Lone Ranger Starring Johnny Depp Review by Carina Calhoun

In this film, Johnny Depp is cast as Tonto, the Native American companion to the film’s hero, John Reid (Armie Hammer.)

Depp and Hammer develop a bromance and revitalize the adventures of a pair from a 1930s American radio show and a subsequent TV series. Hammer and Depp take on the villains in an exciting plot to avenge Hammer’s brother’s brutal murder with thrilling sequences that involve loving banter and speeding trains.

N Magazine | 47

SPEAK WRITE, ATTEND NETWORK

The Power Is Now Radio Show // Eric Frazier Features Guest Desirée Patno

CALL

August 29, 2013

NAWRB Call4All Kelly Mitchell & Lauren Felechner Host a Live Social media Q&A Session AUGUST 16, 2013 Felechner and Mitchell, CEO and Founder for AgentCaffeine.com, hosted NAWRB’s Call4All for the month of August. Mitchell took live calls from listeners, answering questions regarding social media and its vital role today.

HUD Home Sales Seminar // July 26, 2013 Hesperia, CA

Eric Lawrence Frazier and Desirée Patno discuss NAWRB’s collective voice, educating homebuyers, news for women-owned small business and women in the real estate industries. serving as a both a resourceful and informative meeting.

CMBA Regional Networking Series Presents “Santa Ana After Hours” // August 15, 2013

WCR Fraud Panel & 2014 Elections // August 21, 2013 Riverside, CA

Santa Ana, CA

Carolyn McNamara and Kari Leon provided a two-hour course for lenders and realtors on HUD home sales that focused on how to successfully close and avoid fall outs.

NAWRB’s Director of Communications, Carina Calhoun, attended this networking event right in our backyard of Santa Ana. This free event for Orange County-area residential real estate professionals was a breeding ground to make connections with other professionals.

NAWRB CEO and Founder, Desirée Patno, attended a Women’s Council of REALTORS® Inland Valley panel that featured a variety of professionals for a live, themed discussion of “fraud” that served as a both a resourceful and informative meeting.

How to Purchase a HUD Home // August 27, 2013 Bullhead City, AZ

NAWRB member, Lisa Ristow, hosted a free event on the process and key elements of purchasing a HUD Home. These elements included navigating the HUDHomeStore.com website, bidding on HUD Homes, escrow and how to check the status of a submitted bid.

48 | N Magazine

SPEAK

WRITE ATTEND NETWORK

2nd Quarter 2013 “My Guru” Market Report Renee Marie Smith August 2013 Renee Marie Smith discusses the market turnaround from the first quarter of 2013 to the second quarter – and what we can look forward to moving ahead.

Women in Housing Leadership Luncheon Desirée Patno August 2013 Desirée Patno spotlights the brand new Women in Housing Leadership Luncheon this year at the Five Star Conference & Expo in Dallas, Texas. This event will be filled with keynote industry leaders, speakers and professionals alike.

My “Can Do” Attitude Got Sea Sick Wendy Forsythe August 2013 Wendy Forsythe takes a personal experience of sea sickness and provides a valuable life lesson of having a “can-do” attitude but knowing your limits and putting yourself first.

Make Your Offer Stand Out Against the Competition Teresa Ryan AUGUST 2013 Teresa Ryan focuses on the competitive edge one needs in today’s real estate market to stand out against the competition when searching for your dream home.

NAR Reports Most Agree Buying Your Home is a Good Idea Mary Sahakian August 2013 Mary Sahakian discusses whether buying a home is a good financial decision.

Homeownership remains a priority and desire to a majority of Americans as well as a beneficial financial choice.

5 Steps to Simplify the For Sale By Owner Process Sandra Cope August 2013 Sandra Cope discusses the five necessary steps in order to sell one’s home. From placing your title order to scheduling the closing and settlement for the buyer, these steps act as a resource for selling your home.

N Magazine Magazine | 49

WRITE SPEAK

ATTEND NETWORK

1. NAWRB CEO and Founder, Desirée Patno, attended the Women’s Council of REALTORS® event in Temecula, Calif., on July 19, 2013.

1

2. NAWRB board member, Dianne Langston, having fun with Michael Eric Dyson of MSNBC at the NAREB Prayer Breakfast.

3. The WCR District 5 Forum event at Pechanga Resort & Casino in Temecula, Calif.

4. NAWRB member, Zoritha Thompson, attends a NAHREP meeting on new ways to grow the business.

3

5. Marlene Cerreta attending the “A Home to Call Your Own” speech by President Obama.

6. Desirée Patno speaking on the “Distressed Inventory: Where Are We Now, Where Will We Be in the Next Five Years?” panel at Real Estate Connect in San Francisco.

7. NAWRB member, Tina Harbin, attending Brian Buffini’s series on attitude, perseverance and skills along with Real Estate West, Inc.

5

8. Wendy Forsythe attends a Carrington Real Estate event in San Jose.

6

7 50 | N Magazine

8

SPEAK WRITE ATTEND

NETWORK

UPCOMING EVENTS September 8-10 // The Five Star Conference and Expo

October 9-10 // WIPP Annual Leadership Meeting

Dallas, TX

Washington, D.C.

Experience interactive debate style sessions where panelists engage in a friendly discussion on opposing viewpoints. Moderators will monitor speakers, giving each the opportunity to present their side of the solution to industry problems. www.fivestarconference.com

Engage in briefings with high level policymakers; Meet and network with key hill staffers, agency decision-makers and WIPP Leaders at the Capital Connections Reception. Attend a special Congressional Roundtable and Luncheon and visit the offices of your Senators and Representative. www.wipp.org

Members Receive $100 Scholarship Toward Registration.

September 29 - October 1 // NAHREP 2013 National Convention & Latin Music Festival Los Angeles, CA www.nahrep.com

September 13 // SCORE Women in Business Breakfast Series

October 2-5 // NAWBO Women’s Business Conference

Costa Mesa, CA

Miami, FL

Most business owners and entrepreneurs struggle to reach their sales goals and find themselves in need of cash to continue the company’s growth.

We’ve heard it time and time again; you need to have the finances in place before you need it.

Here’s a chance to hear firsthand in simple terms what it takes to help grow your business. www.score114.org

The NAWBO Women’s Business Conference is the only event of its kind focused on connecting women entrepreneurs to real business opportunities that deliver bottom-line results. The conference brings together businesses of all sizes from various industries to provide women entrepreneurs with both personal and professional tools and resources to take their business to the next level of success. www.nawbo.org

September 14-17 // North Carolina Association Realtors Convention

October 6-7 // WCR State Meeting

Asheville, NC

Long Beach, CA

www.ncarconvention.org

www.wcr.org

September 19-21 // 2013 AREAA National Convention Los Angeles, CA The 2013 AREAA National Convention focuses on professional development for real state practitioners who have a passion for creating homeownership opportunities for Asian American consumers. By attending this event, you will renew your commitment to being a leader in your market, re-invent your business and marketing strategies, and reconnect with like-minded professionals who will inspire you to succeed. www.areaa.org

October 8-10 // CAR Expo Long Beach, CA California Realtor® Expo is the premier trade show for California’s real estate industry. The annual event features one-of-a-kind educational, networking, and professional development opportunities designed specifically for California REALTORS®. www.expo.car.org

October 27-30 // MBA Annual Convention & Expo Washington, DC Meet with your peers and discuss solutions to some of our industry’s most pressing issues. Cast your vote for our industry’s future and join for what could be the single most important event for the industry this year. www.mortgagebankers.org

November 6-10 // WCR National Annual Conference San Francisco, CA Take your business to new heights with Women’s Council National Conference. This exciting conference packed with top-notch education plus opportunities to connect with your peers from around the country will take place at the Women’s Council headquarter hotel, the Westin San Francis. www.wcr.org

November 8-11 // National Association of Realtors Conference and Expo San Francisco, CA The expo is the largest trade show floor in real estate, where 400 exhibitors will be on-hand with innovations and ideas. Solutions showcased at the expo include: Tech tools; real estate software; Internet advertising; mobile devices and applications; mortgage and financial services; home protection and warranties; professional development and training; franchises and referral services; office products; “green” innovations and real estate properties and developer referral programs. www.realtor.org N Magazine | 51

INDEX

ADVERTISERS C Chrimata, Inc. ...............................................37

D Desirée Patno Enterprises, Inc. ...................54

H Harmony Escrow, Inc. ...................................7

N NAWRB.........................................................23

S Safeguard Properties....................................54

Countywide Properties, Inc. ........................11 CREW Network......................................21, 22

D Dreams Realty...............................................11 DSNews.......................................................36

E Elite Florida Real Estate...............................42 Energy Star.......................................15, 16, 17 Enscient Corporation....................................36 Environmental Protection Agency (EPA) 16, 17 Equator...................................................26, 27 Equity Lifestyle Properties, Inc. ...................22

F

Facebook.........................................13, 14, 36 Fannie Mae.............................................40, 41 T Federal Housing Administration (FHA).........40 The Five Star Institute......................................3 Federal Housing Finance Administration (FHF A)..................................................................41 U Federal Reserve............................................40 US Best Repair Service, Inc. .......................56 Five Star Conference & Expo.................36, 49 Florida Atlantic University.............................40 Forbes...........................................................12 FOX29..........................................................41 A Freddie Mac...............................21, 29, 40, 41 AgentCaffeine.com.......................................48 A La Mode, Inc. ...........................................38 G American College.........................................40 Goodchild Homes..................................28, 29 Ameriprise Financial Services.......................40 Google....................................................12, 13 AREAA..........................................................51 GreenWorks Realty.......................................16 Arizona Appraisal Team, LLC.......................38 Astia.............................................................36 H

COMPANIES

B BranchOut....................................................36 BRE Properties, Inc. ....................................22

C California Association of REALTORS (C.A.R.) .....................................................................51 Carol’s Daughter...........................................36 Carrington Real Estate.................................50 Catalyst........................................................21 Catalyst Real Estate Professionals..............36 Century21 Collins.........................................11 Charnas Appraisal........................................39 Chicago Magazine.................................28, 29 CMBA...........................................................48 CNN..............................................................14 Cobalt Realty Group.....................................42 Coldwell Banker............................................15 Coldwell Banker Residential Brokerage.......39 Compuware..................................................12 52 | N Magazine

Harcourts Prestige Properties......................42 Homesnap....................................................14 HousingWire.................................................36 Houzz...........................................................14 HUD........................................................28, 48 HUDHomeStore.com...................................48 Hummer Winblad Venture Partners..............36

I

Kentwood Real Estate..................................38 Kiva..............................................................36 Kravis Center for the Performing Arts..........40

L Leading Real Estate Companies of the World .....................................................................38 Lovely...........................................................14

M Morgan Stanley.............................................36 Mortgage Banker’s Association (MBA)...40, 51 MSNBC........................................................50 My Guru Publishing......................................22

N National Association of Hispanic Real Estate Professionals (NAHREP)...............................51 National Associaton of Home Builders (NAHB)..........................................................16 National Association of REALTORS.......49, 51 National Association of Women Business Owners (NAWBO).........................................51 National Women’s Business Council............30 National Association of Women in Real Estate Businesses (NAWRB).......................36, 48, 50 Netco Title....................................................11 New York University’s Schack Institute of Real Estate...........................................................21 North Carolina Association of Realtors........51

O Olde Homestead Properties of Texas, PLLC .. .....................................................................10

P Pechanga Resort & Casino..........................50 Phoenix One Realty......................................11 Prudential Georgia Realty.............................38 Pulte Mortgage.............................................41

R

IBM...............................................................21 IDS Financial Services..................................40 Indiana Central Homes.................................11 Instagram.....................................................36 Intuit.............................................................12

Real Estate Connect.....................................50 Real Estate West, Inc. ...........................11, 50 RealtyTrac....................................................19 Red Top Realty.......................................11, 21 RE/Max Executives.......................................11 RE/Max Platinum..........................................19

J

S

Jane Henry Realtors.....................................15 Just Call Me Maria.......................................46

San Jose Association of Realtists, Inc. .......36 Sharon Sigman Realtors...............................11 Showcase Realty Group, LLC......................42 Smith & Associates Title Services, Inc...22, 41 Stratos Realty Group....................................11

K Keller Williams Legacy Partners, Inc. ..........42

INDEX Synoptic Real Estate Group.........................19

T The Beckles Collective, LLC.........................21 The Colorado Real Estate Co. .....................42 The Five Star Institute...................................36 The Institute for Women and Wealth......40, 41 The McNamara Group, Inc. .........................10 The Omni Group...........................................10 The Power Is Now Radio..............................48 The REODiva.................................................11 Thunderbird Real Estate...............................21 Trulia.............................................................14 Trustee Corps...............................................11 Twitter...............................................12, 14, 36

U Ultracart.......................................................12 United States Census Bureau......................36 University of California, Berkeley..................16 Urban Land Institute.....................................22 U.S. Green Building Council (USGBC).........16

V Vapour Organic Beauty.................................44 Volusion........................................................12 Vulcan, Inc. ..................................................21

W WaterSense..................................................17 Weichert Realtors...................................28, 29 Women 2.0...................................................36 Women’s Council of REALTORS (WCR)........... .........................................................48, 50, 51 Women in Housing Leadership Luncheon...49 Women Impacting Public Policy (WIPP)........... .........................................................24, 25, 51 Wordpress....................................................12 WorldWide Workforce Mobility Association 36

Beckles, Ingrid........................................21, 22 Blanco, Yuri..................................................11 Blomquist, Daren....................................18, 19 Braun, Nancy................................................42 Brown, Karey.................................................42 Brzezinski, Mika...........................................43 Buffini, Brian.................................................50

C Carey, Kathleen.............................................22 Cerreta, Marlene...........................................50 Charnas, Brad..............................................39 Chatfield, Roberta.........................................11 Collins, Nola.................................................11 Collins, Shelly Kapoor...................................36 Connelly, Kathy.............................................38 Cope, Sandra................................................49 Cryer, Tom....................................................38

D Damen, Margaret May............................40, 41 Delich, Jay....................................................38 Desveaux, Helen Liu.....................................42 Dunn, Elizabeth.............................................43 Dyson, Michael Eric......................................50

E Estrada, Tina................................................10

Admati, Anat.................................................43 Allee, Nancy..................................................11

B Bacarella, Deborah.......................................42 Badger, Shawneequa...................................36 Bean, Ashley...........................................26, 27

N Nader, Marguerite.........................................22 Nelson, Brandy.......................................11, 21 Norton, Michael............................................43

O O’Connor, Pam.............................................38

P Patno, Desirée............................8, 36, 43, 48, 49, 50 Powell, Angela..............................................10 Price, Lisa.....................................................36

R

S

Gabrie, Latife Tati.........................................42 Garcia, Justine Jimenez...............................11 Gardner, Barbara..........................................10 Goodchild, Elizabeth..............................28, 29

Sahakian, Mary.............................................49 Saitta, Chris............................................26, 27 Scanlon, Rosemary.......................................21 Sigman, Sharon............................................11 Smith, Renee Marie................................22, 49 Soliemani, Lilian............................................19 Still, Debra W. ........................................40, 41 Summers, Ivery.............................................11

Hall, Betty.....................................................42 Harbin, Tina............................................11, 50 Harris, Carla..................................................36 Healey, Ada..................................................21 Hellwig, Martin..............................................43 Henry-Weaver, Lisa......................................15

A

McCuistion, Niki Nicastro.............................40 McKinley, Mark.......................................26, 27 McNamara, Carolyn...............................10, 48 Melton, Ivy....................................................11 Mitchell, Kelly A. ..........................................48 Moore, Constance........................................22 Moore, Dustin...............................................38

G

H

PEOPLE

M

Forsythe, Wendy.....................................49, 50 Frazier, Eric Lawrence...................................48

Yahoo...............................................12, 13, 21 YouTube.......................................................13

Zillow............................................................14

Langston, Dianne..........................................50 Leon, Kari.....................................................48

Rasner, Terry.................................................11 Ristow, Lisa..................................................48 Robinson, Heidi............................................21 Ryan, Teresa.................................................49

F

Y

Z

L

J

T Turley, Cassidy..............................................22

V Vosmek, Sharon...........................................36

Johnsen, Terry...............................................11

K Kasoff, Barbara......................................24, 25 Kok, Nils.......................................................16 Krebs, Marc..................................................38

W Walls, Kathy..................................................19 Washington, Katrina.....................................11 Willingham, Francine....................................10 Winblad, Ann................................................36 N Magazine | 53

CERTIFIED WOMEN-OWNED BUSINESS

IMAGINE YOUR OPTIONS Desirée Patno Enterprises, Inc. offers a full range of Real Estate Services including Rentals, Short Sales, REO, Luxury, Property Management, Relocation and Investments.

Los Angeles - Orange - Riverside - San Bernardino

Call us today 1-800-DES-3996 Visit us online www.DesireePatno.com NAWRB-BrokerDirect-HalfAd-2013.pdf

1

NAR’S Green Designation

11/29/12

12:11 PM

Customer Service = Resolution®

We are here for you.

Safeguard’s BrokerDirect team fields hundreds of calls from listing agents like you every day. Contact us with property inquiries, feedback, or procedural questions.

That’s what Customer Service = Resolution® is all about.

p 877.340.5909 brokerdirect@safeguardproperties.com 54 | N Magazine

Safeguarding our clients’ interests.

Property Inspections Property Preservation Real Estate Owned (REO) REOplus™ Repair and Rehab Utilityplus™

Hazard Claims Insurance Loss Inspections Vacant Property Registration Compliance Connections™ Valuations

N C O N C L U S I O N

â&#x20AC;&#x153;Give a girl the right shoes and she can conquer the world.â&#x20AC;?

Marilyn Monroe

N Magazine | 55

56 | N Magazine