Vol 1, Issue 5

SPECIAL FEATURE

THE COLLEGE DEGREE AND AMERICAN DREAM:

Can our kids still have both?

VOL. 1 / ISSUE 5 INFORMING WOMEN SPECIALIZING IN THE HOUSING ECONOMY The Official Publication of NAWRB

Red vs. Blue White House p11 The Roaring Twenty Presented by NAWRB p15 CEO Center/fold Ingrid Beckles Founder & CEO p19

p7

2 | N Magazine

Call 949-660-0050 today.

I NEEDED A WOMAN FOCUSED REO ORGANIZATION.

RED RED VS. VS. BLUE BLUE

WHITE HOUSE

BY CADE HOLLEMAN

11 Times They Are A-Changin’

39

19

Contribution by Dianne Langston Quality Real Estate Services, Inc.

36

21

CEO CENTER / FOLD

INGRID BECKLES Founder & CEO

THIS ISSUE

ADVERTISERS inside 6 6 10 29 29

how do you explain short sale to a discouraged seller?

Harmony Escrow 36 DS News 36 No Paws Left Behind 37 Safeguard Properties 37 West USA Realty Revelation 39 The C Group Real Estate & back Home Loan$ The 2012 Project

4 | N Magazine 1

Sherri Saad Kemp Real Estate Jane Henry Realtors, Inc. Cerreta Realty Group Florida’s Realty Specialists US Best Repairs, Inc.

5 15 17 24 25 26 27 29 30 17 35 37

She Said | She Said NAWRB Roaring Twenty Awards Certification Breakdown Breast Cancer Awareness Property Tours Fall Fashion NAWRB Reviews | Read It & Watch It Social Butterfly Tips Speak, Write, Attend, & Network Ncrowd Q&A App Mapp

15

MAGAZINE VOLUME 1/ ISSUE 5

FEATURES

THE COLLEGE DEGREE AND AMERICAN DREAM:

Can our kids still have both?

Editor in Chief

Publisher

Cade Holleman Cade.Holleman@NAWRB.com

DesirĂŠe Patno

Managing Editor & Advertising

34 Executive Park, Suite #260 Irvine, CA 92614

Crescent Seward Crescent.Seward@NAWRB.com

Graphic Design Stephanie Shubin Stephanie.Shubin@NAWRB.com

by Cade Holleman and Crescent Seward

7

Info

E-mail Nmag@NAWRB.com

Call 949-559-9800

Research & Staff Writer Jackie Andoniu Jackie.Andoniu@NAWRB.com

Web NAWRB.com

2 | N Magazine

REAL ESTATE IS CHANGING. AND WE’RE TAKING SOME

OF THE CREDIT.

Real estate has changed forever. The new normal means your business has to offer multiple, specialized real estate solutions for the housing economy.

WELCOME TO SPECIALIZATION IN THE HOUSING ECONOMY SHE IS CHANGING REAL ESTATE.™ Join NAWRB in moving real estate and the housing economy forward.

3 | N Magazine

»

SHE.

LETTER FROM THE EDITOR As the kids go back to school and the housing industry holds steady, we wanted to pose this question to our readers: If you could only choose one, would you want your child to accrue a $200,000 student loan, or a $200,000 mortgage? This is a pretty poignant question for me to contemplate, not only for myself and my own student loan debt, but for my children.

Juggling the average student loan debt along with adult responsibilities like rent and an auto loan, I wonder how easy it will be for me to have the American Dream and own a home. I wonder if my children will choose to have mortgage debt over student loan debt – fully aware that if they choose one, it may be extremely difficult to do the other.

Experts foresee the next financial crisis as students hit the job market, but then cannot find meaningful work in this economy, and still are expected to pay their student loan payments. In our feature article, “Will Our Kids Have Both?” we discuss the real, hard numbers and some solid solutions regarding student loan debt. This issue also announces two important calls for nominations: our 2013 Board Chairs and NAWRB’s Roaring Twenty Awards. Recognizing leading women in the housing economy is important to our association, and we have no doubt we’ll be able to put some significant names in lights! Speaking of influential women, the CEO Center/fold/ this issue, Ingrid Beckles, discusses her unique vantage point in the market and how she focusses her energies to make policy changes.

With the 2012 presidential election coming up this fall, we wonder in “Red vs. Blue White House” whether the candidates will acknowledge their plans, before the election, regarding the housing economy. Regardless, N is here to walk you through the latest issues and attention the housing market needs as the campaign comes to a close. And as always, we’re here to support the expert women who are working in this exciting industry and daily influencing policy.

Crescent Seward

MANAGING EDITOR

@NAWRB_Crescent

4 | N Magazine

HE SAIDSHE SAID Desirée Patno

Cade Holleman

NATIONAL PRESIDENT

EXECUTIVE DIRECTOR

@DesireePatno

@NAWRB_Cade

When I look back at my education and do the math my total spend on

Placing oneself in more debt in the hopes of getting a higher paying

tuition comes to roughly $130,000. That’s tuition alone and doesn’t

job, or even just a job to show current practical experience, can

count books, room, board, and other ancillary costs associated with

lead to self doubt and esteem issues. I bought my first house at 18.

higher education. I went to undergrad at a private four year university

When I relocated to Arizona and got a job working on F-16 military

in St. Louis and earned my master’s degree in South Korea, again

flight simulators in the 70s, the cost of paying a mortgage payment

at a private top-tier graduate school. I also studied abroad in high

and renting was not much different. I had the opportunity to live in a

school (France) and again during undergrad (Thailand), plus my two

three bedroom, two bathroom home with a huge backyard including

years of graduate studies in South Korea. Those experiences gave

a beautiful oversized swimming pool vs. an apartment complex with

me an education that spans four countries and three continents. Add

nice amenities. Just the sheer pride and excitement of entertaining

on the all the countries I visited while studying abroad, another dozen

was a huge boost to my self esteem. Realizing the American Dream

or so, and I’ve traveled to nearly twenty countries. The experiences,

at such an early age, having a tax write off and the possibility of

adventures, friends, and lessons learned? Absolutely invaluable. A lot

acquiring equity to finance future prospects or higher education, was

of that was financed through scholarships, private funds, and as I got

a good business decision. Today, higher education is not received

older, my own hard earned money. As a professional who today pulls

with the same prestige as before. A Liberal Arts degree from a private

from all of that, the coursework and life lessons, I’m glad I followed

college is nice, yet the offset of the cost of paying the premium really

my interests. They took me all over the world and here I am today:

doesn’t give you the return from the investment in both studies and

working in one of America’s most important industries at an incredibly

a better education. I received my associate degree by doubling up

exciting, albeit vulnerable, time. I come from a farming family and

on classes and working a full time job. It is in the relationships and

one that has always understood the value of owning land. My parents

experience I gained from my choices that gave me a better return.

also valued education and I saw early on the mobility that education

While the basic fundamentals of education have not changed, the

allows us in our lives and careers.

speed and what we are learning is changing so dynamically. There are so many other ways of receiving an education than running up a

When I go to the MLS and type in the same value – $130,000 – and

very high debt that currently is not forgiven. A mortgage can give you

look at the results, the validation I feel is more tangible than the 921

pride of ownership, responsibility, equity, and experiences in being

square foot, 42 year old, Mediterranean style condo that pops up. I

more grounded and current in several areas – and debt can always be

mean, it doesn’t even have a pool.

forgiven.

5 | N Magazine

DS News is the only publication in the country solely dedicated to providing agents, brokers, and companies with news and content focused on the default servicing industry.

IMS.3.375X4.792.NoPaws_ad.qxp:Layout 1

3/4/11

8:00 AM

Page 1

3.5 million people will go through foreclosure this year.

63% of those will have pets.

That's over 2 million pets at risk of being abandoned.

DSNews_Sub Ad_8.5x5.5_NAWRB.indd 1

SUBSCRIBE NOW to get the NAWRB discounted subscription rate!

Call Chasity Clary at 214.525.6749.

11/21/11 4:08 PM

Making sure they have a safe place to go comes naturally to us at IMS. No Paws Left Behind, Inc. is a 501c3, not-for-profit organization dedicated to bringing awareness and finding solutions to the growing phenomena of foreclosure pets that are left behind to suffer in silence. No Paws Left Behind, Inc. is here to be their voice. IMS is a proud sponsor of No Paws Left Behind, Inc.

www.nopawsleftbehind.org 6 | N Magazine

THE COLLEGE DEGREE AND AMERICAN DREAM: Can our kids still have both?

by Cade Holleman and Crescent Seward

10 | N Magazine

WITH AVERAGE STUDENT DEBT AT 21K AND MORTGAGE DEBT AT 200K, AND BOTH CLIMBING, WILL OUR KIDS BE ABLE TO SWING BOTH? Earning a degree and owning a home are supposed to indicate success. To parents, it means a job well done— your offspring are educated, settled-down, salary-earning members of the community. The problem is the cost of higher education and real estate have risen dramatically over the last two decades. What has not risen dramatically is income, disposable income, or the overall wealth of the households responsible for putting kids through college. In fact, median household income in 2010 was roughly the same as 1997, stagnating at around $59,000. This year the Pew Research Center reported that for middle-income Americans, the median income fell five percent and their wealth dropped by 28 percent over the last decade. In contrast, the same ten year period saw a 72 percent increase in tuition and fees at state schools and tuition is now the fastest rising category of expenses, even outpacing healthcare.

IT’S BIG, BUT IS IT A CRISIS? What has kept kids in school is a rise in student loans based on the idea that after college the higher wages graduates earn will make it easier to pay off the debt. Last year total student debt broke the $1 Trillion mark sparking concerns of an impending student loan debt crisis akin to the mortgage crisis the economy is still battling to overcome. Even at $1 Trillion, outstanding student loan debt accounts for only 8 percent of the total $11 Trillion debt owed by individuals in the United States. By comparison, mortgage debt represents 72 percent of the total.

What’s alarming for students is that the situation is not trending positive. Since 2005, student loan debt among borrowers under 30 has more than doubled. Hiring remains weak and the national unemployment rate still hovers over 8 percent. For graduates looking to buy a home, $20,000 in debt, not counting average auto loans and credit card debt, a tight credit market, and bleak job prospects will add up to few prime borrowers as lenders originate at a snail’s pace.

The New York Times recently reported that “many firsttime buyers get turned down for mortgages because their student loan debt significantly raises their overall debt level.

Most lenders follow underwriting guidelines that limit total 8 | N Magazine

debt payments—for the mortgage and property taxes, plus credit cards, student loans, car loans and other debts—to 45 to 50 percent of a borrower’s adjusted gross income.” The article continues, “Assuming the mortgage and taxes will eat up 33 to 35 percent, that means student loan payments, plus credit card bills, can account for no more than 10 percent or so of gross income. That equals $833 a month for someone who makes $100,000 a year.” In some cases, private lenders gave out money without considering whether borrowers would or could repay, then bundled and sold the loans to investors to avoid a loss.

Predatory lending is an issue in not only student loans, but mortgages, auto, and credit cards—which undoubtedly helped bring about and contributed to the financial crisis.

SOLUTIONS Moving the debt around could offer case-by-case solutions for many families with resident real estate experts.

For example, home equity loans often offer lower interest rates than student loans because they are secured by real property. The funds from a home equity loan could be used to pay off the higher interest rate student loans and the borrower, most likely your child, could repay the home equity loan directly or work out a more tailored repayment plan between parent and child.

Response to the mortgage crisis could also inform bankruptcy reform. As it stands today, it is nearly impossible to discharge student loans in bankruptcy.

It is so difficult that in 2008 only 29 of the 72,000 bankruptcy petitioners were able to discharge all or part of their student loan obligations. This is due in 9 | N Magazine

part to the fact the federal government guarantees an overwhelming majority of student loans and has substantial recourse to collect what it is owed. The federal government can garnish up to 15 percent of wages, intercept tax refunds without a court order, even garnish social security checks. Statistically, you are more likely to get cancer or die in a

“Statistically, you are more likely to get cancer or die in a plane crash than avoid paying student loan debt.” plane crash than avoid paying student loan debt. Reforming the bankruptcy code to allow for an easier discharge of student debt, an idea even supported

by Sallie Mae in cases where it makes sense for a borrower who has made good faith efforts to repay, would allow for many borrowers to fully achieve the point of filing bankruptcy—to start over financially. The mortgage crisis has seen many high profile loan-related solutions: modifications, principal writedowns, forgiveness, and forbearance.

Comprehensive solutions like these could find their way into a response to higher rates of default among student loan borrowers.

Many students do not understand

the implications and consequences of borrowing a sum of money without concrete plans of paying it back. Lenders have been significantly more careful since the financial crisis, much like the housing economy. For example, in 2011, more than 90 percent of private student loans required a co-signer, compared with 67 percent in 2008. Ironically, education is key when it comes to student loan debt.

AVERAGE COST PER YEAR

average annual cost of out-ofstate tuition, room and board at a public school: $29,657 average annual cost at a private nonprofit: $38,589

THE DEBT YOU LEAVE WITH public: $20,040 60% of students borrow

private non-profit: $27, 535 70% of students borrow private for-profit: $32,909 96% of students borrow

NAWRB-BrokerDirect-HalfAd.pdf

1

4/26/12

8:32 AM

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

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

10 | N Magazine

RED VS. BLUE

WHITE HOUSE

14 | N Magazine

The housing economy is responsible for as much as one fifth of total gross domestic product and everyone, no matter their political inclinations, can

BY CADE agree that housing is one of the HOLLEMAN biggest hangovers left by the Great Recession and deserving of a final, comprehensive solution.

We could argue the bigger problem is really jobs, but how many jobs are created by a vibrant housing economy and the services boosted by homeowners who feel like they are building equity and coming home everyday to a place worth investing in? Enough. Enough to lower unemployment back to acceptable levels and boost consumer and business confidence so that our businesses and economy will grow, lest we have forgotten that confident homeowners are confident consumers?

15 | N Magazine

“Now it is time to make your candidates talk about their plan to save our industry and our livelihoods.”

IS IT AN ART OR SCIENCE? The historic 2008 election of Barack Obama amidst the worst of the financial crisis gave many American’s a feeling of optimism about our ability to pull out of a crisis and correct our economy.

loss mitigation programs and policies when processing short sales, loan modifications, principal write downs, deed-in-lieu transactions, foreclosures, and evictions.

Four years and an incredible amount of red ink later, we are still throwing ad hoc solutions at the problems lingering in the housing market. Making Home Affordable (MHA), Obama’s signature response effort to the particularly painful woes of the foreclosure crisis, has yielded tepid, at best, results when looking at pure numbers. But looking at the big picture, I would not call MHA a failure just because the numbers are not knock-your-socks-off high. As an industry, and partly because of MHA, we have come a long way toward universal servicing standards, relatively uniform

The system is nowhere near perfect, but show me a college that offers a four year degree in Processing Millions of Foreclosures in a Half-Century Old System Built for Origination. Is that an Art or Science? In fact, as mortgage default professionals, we ought to take some pride in the progress we have made completely reorienting our industry on the fly. On another page of this very magazine, I debate the question this issue poses: would you advise your child today to take $200,000 in mortgage debt or student loan debt?

Real estate professionals, on average,

16 | N Magazine

have 90 hours of coursework in addition to a high school diploma. That’s not a whole lot in comparison to the average level of education for policy makers and thought leaders. But it is the brokers, agents, appraisers, and other industry professionals who are responsible for driving the housing recovery on the ground and have held the line while our government has watered down a comprehensive solution. In my book, many of you have done an incredible job the last four years. Now it is time to make your candidates talk about their plan to save our industry and our livelihoods.

THE CANDIDATES: RED OR BLUE? Obama’s re-election campaign has focused primarily on his expanded mortgage refinance program and GOP nominee Mitt Romney has simply said that “government should avoid intervening and allow the housing market to run its course.” An analysis of Romney’s campaign advisors reveals few, if any, individuals with direct experience in the housing economy.

His Vice Presidential nominee has said that Fannie Mae and Freddie Mac should be abolished and Treasury has already made progress in its efforts to wind down the GSEs. But what will replace them? In a webinar promoting its joint Legislative Day Conference co-sponsored by NAWRB, REOMAC, and ALFN, Our Lot: How Real Estate Came to Own Us author Alyssa Katz commented that the federal government

has had a historic role in mortgage finance. The current stagnation in the housing market’s recovery is evidence of a continued need for a government presence in the sector.

Romney has argued on the campaign trail that the best thing for the housing market is a growing economy. What we need to know is how he plans on getting us there. And Obama, what we need to hear is recognition of the fact that some of your Administration’s ideas have not worked or are not working as well as we would all like. The housing market needs some degree of certainty about the future of Fannie and Freddie and how the government plans to conduct itself in the mortgage finance system in the 21st century. Romney and Obama may not acknowledge what their plans are before

the election, but with an unclear future, the housing economy can not move forward.

Homeownership is still in recovery mode. Our businesses are still important. And our industry wants to know how a Romney White House or another Obama White House plans on making both of those items a priority in our future.

Get your name

in lights

NAWRB announces a national awards program to recognize and profile twenty of its outstanding members and their professional achievements. The twenty selectees will be profiled in the November/December issue of N Magazine and announced alongside an expanded 2013 Board of Directors. NAWRB’s board will grow from four permanent positions to a total of seven seats including one new permanent chair held by a Gold Certified member and two Affiliate Chairs held by Women with Access.

The NAWRB Roaring Twenty is an annual recognition program designed for NAWRB members. Non-members may nominate NAWRB members or a recipient may be self-nominated.

The runner up from each category will be profiled as a Leading Lady in a separate category. Nominations are due by midnight November 1st and winners will be notified by email if selected, or if additional information is required. Nomination is not a guarantee of selection.

Nominations should be at least 500 words in length, include a headshot, and any supplemental or supporting documents to aid the selection committee. Email nominations to Roaring20@NAWRB.com for additional information or to nominate. Winners will be announced in an official press release before the publication of the November/December issue of N Magazine where each selectee will be profiled. Winners will receive promotion throughout 2013 via NAWRB.com, NAWRB Newsroom, and a custom N Magazine advertising campaign to be developed around award recipients.

FOCUS ON THE WOMAN

The five main category winners must be NAWRB members for at least one full calendar year and certain category-specific requirements may apply. Submissions should focus on the woman and why she deserves the award for which she is nominated. Cite business, community, family, and other examples that set this woman, or yourself, apart.

MEMBER OF THE YEAR *must be a member for at least one full year at the Gold Certified level

FOCUS ON THE WORK

These five business-related categories focus on the body of our members’ work and category winners must be NAWRB members for at least six months.

Submissions should focus on specific projects, campaigns, successes, launches, or aspects of successful business planning and execution. Additional materials and examples are encouraged to fully explain the piece of work being submitted for review.

MARKETING | PRINT OR DIGITAL SOCIAL MEDIA

ENTREPRENEUR OF THE YEAR *business must be less than three years old

BUSINESS DEVELOPMENT

ADVOCATE OF THE YEAR

PERSONAL LEADERSHIP

WOMAN TO WATCH

COMMUNITY INVOLVEMENT

WONDER WOMAN *a woman juggling multiple companies, young children, etc.

CROWD Join the Ncrowd to be considered for publication in the Ncrowd, members in good standing should respond with creative solutions they’ve used to better manage their businesses, families, and selves. To find out the next issue’s questions, email NMag@NAWRB.com.

If you could only

?

CHOOSE ONE, would you want your

THE RESULTS ARE IN

75%

of respondents on our Facebook poll said they would choose the mortgage Facebook.com/nawrb

child to accrue a

$200,000

STUDENT LOAN, or a

$200,000

MORTGAGE 17 | N Magazine

I would rather my child acquire a $200,000 mortgage instead of a student loan.

- Monte Yohr Monte Yohr Broker/Owner KC Foreclosures MKYohr@hotmail.com

I agree. Given our current tax laws, I’d much rather my children incur a mortgage debt that they can afford versus a student loan of the same amount.

- Ingrid Beckles No one should come out of school with debt. A $200,000 mortgage debt can be lowered more than education.

- Raye Mayhorn

Ingrid Beckles Founder & CEO The Beckles Collective, LLC

IBeckles@TheBecklesCollective.com

I would choose a mortgage for my child because you always have to have a place to live.

- Joanne Panek

I disagree. I would choose the student loan because your career allows you to grow more than a mortgage does.

- Monica Posin

Raye Mayhorn Broker/CEO Realty Executives Killeen & Temple Raye@RealtyExecutives.com

But they can always get a return on the mortgage. There are no guarantees on the student loan.

- Monte Yohr

As an alternative, I think a student can pay for school as they go.

- Joanne Panek Joanne Panek Broker/Owner RE/Max Success Joanne@JoannePanek.com

Unfortunately, our children today are not taught the ‘pay as you go’ education policy.

- Monte Yohr My kid wants to know the interest rates and more info before making a decision. He’s studying physics.

- Lisa Henry-Weaver

Monica Posin Broker/President New Capital Realty Info@MonicaPosin.com

We’d have to solution for college tuition in an alternative manner. As the market settles and begins to improve, homeownership remains a viable path to building their personal balance sheets. It should not be their only tool, but it’s still important.

- Ingrid Beckles Ingrid is right. Many students in today’s society are burdened with student loans that they will never be able to pay off in their chosen career path.

Lisa Henry-Weaver Broker/Owner Coldwell Banker Jane Henry Realtors lwlisa@aol.com

Teaching our children financial responsibility is a must and no longer an option.

- Monte Yohr

18 | N Magazine

BECKLES TAKES HOUSING POLICY HOME Former Freddie Mac Senior Vice President Focuses on Policy Implications and Impacts with Executive Consulting Firm You wouldn’t know it at first look, but Ingrid Beckles, best known for her role as Senior Vice President of Default Asset Management for Freddie Mac (2003-2010), is a mother and avid motorcyclist that just finished a round trip ride to Canada. During the housing crisis in 2008, Beckles worked intensely with the Federal Housing Finance Agency (FHFA), the Treasury Department, Congress, and the Administration to ensure the GSE’s pre-conservator expertise was communicated for proper consideration in developing the Making Home Affordable (MHA) program.

She successfully pioneered concepts and a toolkit of solutions to ensure all possible options to assist borrowers and preserve neighborhood property values were explored.

“There are so many dimensions to the US housing/mortgage market that are so intertwined that it makes thinking about the issues and solutioning through the challenges a continually dynamic experience for me,” says Beckles, now Founder and CEO of The Beckles Collective, LLC, a strategic advisory firm that embodies a strong understanding of risk factors, knack for building meaningful business relationships, and housing expertise.

Beckles got into real estate by complete accident. In 1985, she was a staff auditor for a state chartered bank that was in the process of obtaining its federal charter. Part of the application requirements called for the commencement of a documentation review of mortgages originated by its subsidiary. “It was a new area and I asked for and was granted the assignment,” she says.

When the housing crisis hit during Beckle’s station at Freddie Mac, she says they became more “hands on” in their management of servicers to include placing loss mitigation representatives on site at servicer shops, developing more detailed and real time tracking of portfolios, explaining servicing and servicer activities, incentives, and oversight processes to Congress. “By the end of the year we entered into conservatorship and began working with the Department of Treasury on the Streamlined Modification program, the predecessor to the current MHA program currently in the market.”

After leaving Freddie Mac Beckles took time to reconnect, but started receiving overwhelming requests for advice. “As I hadn’t yet chosen my next adventure, I was finding that I enjoyed explaining the process,

INGRID BECKLES Founder & CEO

THE BECKLES COLLECTIVE, LLC

1250 Connecticut Ave. NW, Suite 200 Washington, DC 20036 19 | N Magazine

by Crescent Seward

policy implication and impacts and distressed acquisition strategies to the requestors,” and as these requests continued to come, she decided to make executive consulting in the mortgage banking space her new venture.

Beckles has testified before the Financial Services Committee, served on The White House National Economic Council Taskforce, contributed to white paper studies on the impact of the housing crisis, housing policy and solutions, and is often published in industry publications. Collaborating with colleagues gets her juices flowing and refocuses her on the goals of her firm and the immediate tasks at hand. The year over year indicators are starting to steadily point upwards, and “while it’s tempting to touch all of the aspects of the field in which you have expertise, at some point, pretty early on, we have to determine where we’re going to focus our energies so that we can actually be successful.” Her unique vantage point considers the housing market from the heavily regulated lens to the origination, risk management, and primary market operation lenses – with unparallel expertise.

CONTACT INGRID:

TheBecklesCollective.com IBeckles@TheBecklesCollective.com (202) 261-6539

Photographer Craig Seymour Art by CraSeMo

CEO / CENTER / FOLD

“While it’s tempting to touch all of the aspects of the field in which you have expertise, at some point, pretty early on, we have to determine where we’re going to focus our energies so that we can actually be successful.”

20 | N Magazine

how do you explain short sale

21 | N Magazine

to a discouraged seller?

by Crescent Seward

The year of the short sale: Short sales reached their highest level in the first quarter of 2012 since 2009 Short sales increased 16% from the previous quarter and 25% year over year FHFA standards require short sale response within 30 calendar days of receipt of offer Final decisions must be communicated to the borrower within 60 calendar days of recipe of the offer and borrower response package.

The market is tougher than it used to be when trying to sell your home at a profit, or break even. Short sales have been around for a long time, but with the recent crisis in housing, they have gained traction as an alternative to foreclosure.

Basically, your lender will approve a sale price lower than what you actually owe, and will usually allow you to walk away from the difference. Many factors will impact the success of a typical short sale. “A short sale gets rid of the mortgage and gets you out of the house,” says Joanne Panek, Broker/Owner of RE/Max Success. Imagine an underwater property, add a hardship letter explaining the unforeseen issues, massive amounts of financial documents, and disheartened pride – the seller will be a combination of scared, embarrassed, and confused about the technical aspects of the process. You must educate your client that there are other options besides foreclosure and walk them through the process.

Liken the short sale to a reverse loan approval “All the documents the homeowner needed to supply in order to get the property are the exact same documents they give to the lender to have the short sale approved,” confirms NAWRB Short Sale Trainer Renee Smith during a 4x4 Summer School session. The home is worth less than the mortgage value and the point is to undo the mortgage that your client worked to secure. “Short sales allow you to go on with life with no judgment,” says Monica Posin, Broker/President at New Capital Realty.

A reverse loan approval is not a reverse mortgage Be careful using the term with your client. A short sale helps the homeowner start again with their finances, whereas a reverse mortgage is a form of equity release similar to a line of credit for borrowers at least 62 years old, and occupying the property as their principal residence. “A reverse mortgage is getting equity, not selling a home,” explains Raye Mahorn, Broker/CEO of Realty Executives Killeen & Temple.

22 | N Magazine

You do the home. We do the homepage.

G EB INTRODUCIN MARKETING SERVICES FOR THE W PLATINUM CIATION OF O S S A L A N IO T A N

BY THE ERAGES K O R B O E R N E M WO

NAWRB

23 || N N Magazine Magazine 26

IF ONLY WOMEN PAID AS MUCH ATTENTION TO THEIR BREASTS AS MEN DO. Breast cancer affects everyone, not just the person diagnosed. Partner up with NAWRB and help find a cure for breast cancer. During the month of October, a percentage of your purchase of the new Platinum Marketing Services For the Web will go towards the proceeds to find a cure for breast cancer.

Every 19 seconds, somewhere in the world, someone is diagnosed with breast cancer.

1 in 8 women in the US will be diagnosed with breast cancer in her lifetime.

Breast cancer is 2nd only to lung cancer in cancer deaths among women in the US. Every 74 seconds, somewhere in the world, someone dies from breast cancer.

“I was diagnosed with breast cancer in 2010, started treatment in 2011, and personally survived. I now live every day to the fullest!”

–Joanne Panek | Broker/Owner | RE/Max Success

“My sister lost her battle to breast cancer 2 years ago because the tests to determine breast cancer was not done soon enough.”

- Raye Mayhorn | Broker/CEO | Realty Executives Killeen & Temple

“Every woman should get an annual mammogram!”

– Monica Posin | Broker/President | New Capital Realty

B

E WE H T R O G F N S I E C C INTRODU UM MARKETNG SERVTIION OF PLATIN ATIONAL ASSOCIA

BY THE NREO BROKERAGES WOMEN

B R W NA

PROPERTYTOURS PHIPPS CONSERVATORY WELCOME CENTER Phipps Conservatory originally opened in 1893 as the largest glasshouse in the United States. Today, the structure is on the National Register of Historic Places and is celebrated as one of Pittsburgh’s quintessential examples of Victorian architecture. In the 1990s, plans were developed to preserve and expand the property – leading to pursuing LEED certification in 2005 and aligning with the garden’s mission to connect people to nature. The new Welcome Center resulted in a 12,465 sf earth-sheltered facility, featuring a design that complements the original Lord and Burnham conservatory. Because the Welcome Center is partially situated underground, it scores high on energy efficiency. Other key features include

25 | N Magazine

1 Schenley Drive | Pittsburgh, PA 12,465 sf earth-sheltered facility USGBC.org

an HVAC system that only conditions the air where people congregate, fritted recycled glass on the dome and windows that filters natural daylight into interior spaces, a green roof with a demonstration garden, recycled steel and glass, and locally-mined limestone.

The project’s location and Botanical Gardens sit adjacent to the University of Pittsburgh, Carnegie Library, and the historic Schenley Park. The project owner is Richard Piacentini, Executive Director of Phipps Botanical Garden, and the architect is Joel Bernard, Principal at IKM, Inc. This Property Tour is contributed by the USGBC. If you would like to contribute a Property Tour for a future issue, please email NMag@NAWRB.com.

Fall Fashion for the JEWEL TONES

BROKER

Amber

THE SCARF

Ruby

Dress up your jeans or add color to any outfit as an accent, for warmth in the evenings, or stuff it into your purse as the afternoon warms up.

Sapphire Emerald Amethyst Onyx

THE DRESS From day to night, a simple, well fitted dress paired with a blazer can be worn in the office, during business meetings, or with clients.

The dress can be worn alone without the blazer after hours to a child’s play or dinner.

Dress it up with a belt around the waist, scarf, or a simple change of jewelry to add glam for an evening out.

THE SHOE Classic black pumps with a chunkier heel will go with any outfit and add support for a long day of driving around, running to meetings, and parent/ teacher conferences.

26 | N Magazine

READ IT | WATCH IT READ IT & WATCH IT

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

Send reviews to Nmag@NAWRB.com

Coco Before Chanel Starring Audrey Tautou WATCH IT

Review by Jackie Andoniu @NAWRB_JackieA Before there was Coco Chanel, pearl necklaces and Chanel No.5, there was a French dancer making hats and hoping to become famous at the L’Alcazar, a famous nightclub in Paris. Gabrielle Bonheur became head of one of the most popular and luxurious brands with a dream, passion, sweat, and tears. Adapting to this change in time and living in her dream, Bonheur truly became Chanel. When singing and dancing stopped paying her bills, Bonheur knew she had to do more to survive in a male dominated society. Refusing to be controlled by a man and a passion for making hats and clothing, it was obvious what she would resort to. This movie shares the triumphs and failures of a strong-willed, witty woman in the early 1900s creating her own business empire. Never living under a man or going against her morals, Chanel was able to live by her famous quote, “A girl should be two things: classy and fabulous.” Indeed, Chanel built her business with those two traits in mind – which is still apparent in the Chanel fashion line today.

2009 | Amazon.com

ASIN B002LE8MGW 27 | N Magazine

Brand Gap: How to Bridge the Distance Between Business Strategy and Design

By Marty Neumeier

READ IT

Review by Crescent Seward @NAWRB_Crescent Who are you? What do you do? Why does it matter? This book is branding 101 for those of you looking for a quick read and a little guidance on brand-building. Marty Neumeier takes the traditional strategic and creative approaches, and meshes them together to show you how thinking both ways can launch a successful brand. The book is a great handbook for incorporating the theory of branding into your own business in a quick and cheap way.

2005 | Amazon.com

ISBN 978-0321348104

No Higher Honor: A Memoir of My Years in Washington

By Condoleezza Rice

READ IT

Review by Cade Holleman @NAWRB_Cade Condoleezza Rice is, most surprisingly, funny. Her memoir, No Higher Honor, details her years in Washington, D.C. and in it she describes clashes with “the Vice President” (she rarely refers to him by name out of respect for the office or possibly dislike for the individual) and candidly admits mistakes and missteps. Condi is at her best when describing some of the more harmless gaffes of the Administration she served, referring to the Iraq War “Mission Accomplished” banner as “that unfortunate banner.” When recounting President Bush’s ability to look into then-and-now-again Russian President Putin’s eyes and see his soul, she says she “visibly stiffened” upon hearing the comment. Talk about laugh-out-loud funny. As a reader, I appreciated Condi’s clear responsibilitytaking for mistakes made on her watch and recommend this Bush-era retelling of some of the most dramatic decisions made over the last decade.

What will surprise you: Upon winning his second term and reshuffling his Cabinet, Bush seriously

considered putting Rice at Defense instead of State. Condi personally thought she’d be more effective at State, but can you imagine the impact of a war time black female Secretary of Defense? Too bad Romney didn’t end up selecting her as his Veep.

2011 | Amazon.com ISBN 978-03075862

The Lost Bank

By Kirsten Grind

READ IT

Review by Cade Holleman @NAWRB_Cade Wells … Wall ... Wachovia … WaMu … it’s hard to keep track of all the Ws from the financial crisis, but for those on the West Coast (which this reviewer is still relatively new to), Washington Mutual, more commonly known as WaMu, was the biggest W of them all. WaMu collapsed in its 120th year with nearly 50,000 employees, and at a time when it was the largest savings and loan association in the country. The book, The Lost Bank: The Story of Washington Mutual - The Biggest Bank Failure in American History, focuses more on the culture of WaMu through its growth and ultimate failure. Readers will notice first the kind of Candy Land atmosphere of WaMu’s corporate culture and its chronic mismanagement, especially in the subprime division. Author Kirsten Grind focuses much attention on the original management team, which stayed in place a long time by any corporate standards, and significant reorganizations in the company’s structure. WaMu is worth remembering because it was a much-loved company and harbors significant lessons for bank closures, oversight, and the future of America’s thrifts.

2012 | Amazon.com

ISBN 978-1451617924

introducing the SOCIAL BUTTERFLY

As an award winning association for social media, NAWRB’s SoFly blogs about social media and marketing tips. Your digital self is as important to your business as any other networking outlet in traditional relationship building. If you have questions for the #SocialButterfly or would like to read the entire tips, please email: Social@NAWRB.com.

WESTUSAREALTY Revelation

RITA E. MCVAY

REO & Short Sale Real Estate Consultant P: 602.614.0001 E: ritamcvay@hotmail.com E: info@hotazreo.com

SoFly Tip #1: QR Codes

QR is short for Quick Response, a barcode that is similar to the ones you find on products at the grocery store. Just as those track inventory and pricing, QR codes help track your demographic’s response and prompt them to interact with you.

SoFly Tip #2: Instagram

(602) 614-0001

Instagram is a fast, fun, and free app for mobile devices to host pictures. Much like Twitter, you follow a network of people and companies to interact with. You can post your picture as-is or choose from a number of creative filters and borders to emphasize your image.

SoFly Tip #3: #Hashtags

The hashtag # symbol is used before relevant keywords or phrases in Twitter or Instagram to categorize posts and make them searchable by anyone. Clicking on a hashtagged word or phrase in a specific social media platform shows you all other posts in that category. The hashtag can occur anywhere in the post - at the beginning, middle, or end - but the keyword or phrase can not have any spaces. NAWRB members can request the latest video on #hashtags by emailing Social@nawrb.com

www.EastValleyArizonaHomes.com

SoFly Tip #4: Infographics

They are different than a flyer. An infographic is a visual representation of data and numbers using images and color to convey a message, usually analyzing or comparing data.

Inforgraphics have been compared to a visual and colorful essay which shows an issue in a non-linear format. They make complex information easy to understand and fun.

SoFly Tip #5: Memes and Ecards

A meme is an idea, behavior, style, or content usage that spreads from person to person within a culture. Ecards are similar to memes in the themes and choice of wording, but are visually different. Memes are more likely to have words aid the picture, whereas an ecard will focus more on the wording and use a standard vintage, black and white sketch.

SoFly Tip #6: Facebook Cover Photos

They are interactive, captivating, and keep your demographic interested when you match it to your branding. Do not get the cover photo confused with the profile image because the profile image is what follows you across Facebook, It should be your logo and stay consistent.

The cover photo, however, should be regularly updated to keep brand appeal fresh. With the timeline, you’ve got more space to enhance the page visually and tell your company’s story, as visual content is up to 80% more engaging than before. With larger photos and starred stories, brands can craft a rich virtual history; one that gives it a life of its own.

SoFly Tip #7: Brand Colors

Branding your business is important these days, especially with the housing economy still recovering. Anything you can do to create awareness to your services will help you. Studies have shown that color is the first thing a consumer will notice about your logo – that means 60-80 percent of a customer’s purchasing decision has relied on the influence of color. Put simply, a client may choose you over another realtor because your logo is red and theirs is bright orange.

29 | N Magazine

The C Group Real Estate & Home Loan$

Celia Cohen BROKER-OWNER/CEO Hablo Espanol

t: 800-794-0775 c: 562-884-5952

800-794-0775 www.4HomeAndLoan.com

SPEAK WRITE

ATTEND NETWORK URGENT

NAWRB BOARD OF DIRECTORS ELECTIONS FOR 2013 NAWRB is issuing a call for candidates for the 2013 NAWRB Board of Directors. If you wish to run for a seat on the Board, you may nominate yourself. If you desire to nominate someone else, please get consent that she is willing to be a candidate, sit on the Board of Directors, and has the time to give NAWRB. Existing Board Members may run for re-election 7 OPEN SEATS: Community Enhancement & Education Chair Membership & Events Chair Government Relations Chair Women-Owned Business Certification Chair N Magazine Chair Women With Access Representative Women With Access Representative THE TERMS: • Board members will hold office for a term of 2 years beginning on January 1, 2013.

• Board Chairs must be NAWRB Gold Certified member as a Certified Women-Owned Business, or in the process of certification.

• Women With Access Representatives must be NAWRB Women With Access members.

• Nominations must be received by November 1, 2012.

Please email Info@NAWRB.com to receive official instructions.

INMAN NEWS REAL ESTATE CONNECT SAN FRANCISCO, CA AUGUST 1-3

WALNUT CREEK MLS SESSION AUGUST 2

NAWRB’s National President Desirée Patno attended the Inman News Real Estate Connect in San Francisco for the first time.

Florida’s Short Sale Guru and NAWRB member, Renee Smith, also accompanied her during this trip. This conference was focused on exploring business strategy, consumer insights, emerging technology, and big data.

While in San Francisco for the Inman News Real Estate Connect, Patno and Smith spoke at a REO and Short Sale Session, hosted by NAWRB member Dianne Langston and the East County Association of Realtors (ECAR). Patno and Smith offered expert advice on short sales and distressed properties, while Langston moderated the event.

NOMINATE

YOURSELF

4

AN OPEN SEAT ON

2013’s

BOARD / OF /

DIRECTORS

YOU MUST: • meet membership requirements

• be ready to rock the industry on behalf of NAWRB members and their businesses • commit for a 2 year term

NOMINATIONS

DUE

NOVEMBER 1ST!

30 | N Magazine

SPEAK

WRITE ATTEND NETWORK

AUG 2012

INMAN NEWS: THERE’S STILL TIME TO BREAK INTO REOS social media panel from REO Expo is

NATIONALMORTGAGE PROFESSIONALS.COM: TRADE GROUPS JOIN FORCES FOR SEPTEMBER LEGISLATIVE DAY IN D.C.

re-summarized in the print issues of

An announcement about NAWRB, REOMAC,

HousingWire.

and ALFN joining together to raise awareness

AUG 2012

NAWRB Executive Director Cade Holleman’s

AUG 2012

DS NEWS: THREE INDUSTRY ORGANIZATIONS TO HOST LEGISLATIVE DAY IN D.C. On DS News.com, an announcement about the collaboration of NAWRB, REOMAC, and ALFN to raise awareness of the changes of the residential loan servicing industry.

of the changes of the residential loan servicing industry in D.C. in September.

AUG 2012

MORTGAGEORB.COM: ALFN, TRADE GROUPS TO HOST WASHINGTON MEETAND-GREET An announcement on the collaboration of NAWRB, REOMAC, and ALFN to raise awareness of the changes of the residential loan servicing industry.

31 | N Magazine

SPEAK WRITE ATTEND NETWORK

4X4 SHORT SALE SUMMER SCHOOL RECAP

Patricia de Santos.

Patricia@My-REES.com

NAWRB members can request to listen to this past series by emailing info@NAWRB.com.

JULY 6

FARMING AND LEAD GENERATION Key talking points include the differences in marketing techniques for short sales versus traditional listings, where to go for support, certification, follow up calls, and hardship letters.

Renee Smith Renee@SmithTitleServices.com

On the Call: NAWRB National President Patno, Communications Coordinator Crescent Seward and member and Short Sale Trainer Renee Smith.

JULY 13

LEGAL ISSUES Key talking points include legal issues of short sale, pressing issues today, approvals, the foreclosure system, mediation, and legal issue that impact the realtors directly.

On the Call: NAWRB Executive Director Holleman, and member and Short Sale Trainer Smith.

AUG 3 Eric Frazier Eric.Frazier@ThePowerIsNow.com

BUYER/SELLER ISSUES Key talking points include traditional short sales versus HAFA short sales, closing of short sales, importance of training in the market, and how to become a resource to the community regarding distressed properties.

On the Call: NAWRB Executive Director Holleman, member and Short Sale Trainer Smith, and Board Chair Patricia de Santos.

AUG 10

CLOSING AND ESCALATION Key talking points include what to do to prepare prior to closing, title review, association fees, short sale approval from the lender’s perspective, and wrap up of the series.

On the Call: NAWRB Executive Director Holleman, member and Short Sale Trainer Smith, and Eric Frazier from The Power Is Now.

32 | N Magazine

WHY WOMEN’S NETWORKING GROUPS FAIL Q&A: Are you paying for ineffective networking groups with your time?

Networks and the importance of networks keep emerging. One of the reasons why women lag behind in leadership is that they are less likely to have extensive networks to support and promote them as potential leaders. Sure we’re striving to have more clients, more new business, but aren’t we striving as a collective to promote ourselves towards leadership as well? Having a network, whether it’s formal or not, is necessary for upward growth. Ask yourself these questions when you assess your women networking groups:

Can women’s networking groups help a young woman break into the boy’s club, no matter how many strong their numbers are?

The idea is not to break into the boy’s club, the idea is to break into and sustain a successful station in the industry.

Why do women need to exclude men from their networks, then?

Women need a place where they can nurture relationships in a way that feels comfortable, a venue where they make the rules, and a private space that empowers them. It’s not a matter of exclusion, it’s a matter of connecting with likeminded industry professionals.

Who is in the network? Should I join just any network?

Networks are only as valuable as those they bring together and what happens as a result. Strength in numbers is not always the rule of thumb here because the real sign of a healthy and valuable networking group is who’s there and how they communicate, or are involved. Is there someone to help out at every turn? These are the most valuable members because they balance the resources along with the administrators.

35 | N Magazine

How well does the network connect? And is there functional communication?

Move on if you’re not getting the level of communication you need. You’re busy. You need to network together somehow on a regular basis.

Healthy and beneficial networks don’t limit you to communicate with them only at events, every 30 days, or quarterly – they support you and provide assistance when you need it. They strive to make you a leader in the industry.

In short how do I know if I’m in an effective networking group?

Avoid bad leadership and the formations of cliques that can contribute to unfair referral processes, and lack of interest in your success. Women are known for their instinct, so listen to yourself. Not every networking group is created equal, but yours should stack up to your needs, the kind of people you want to interact with, and the industry support that matters.

LIKE US Carol A. Kemp Broker | Owner (727) 992-9330

CarolKemp@aol.com CERTIFIED WOMEN-OWNED BROKERAGE

www.KempRE.com

Women are 12% of Governors 17% of Congress 24% of State Legislators Don't get mad. Get elected.

The 2012 Project is a national, non-partisan campaign of the Center for American Women and Politics (CAWP) to increase the number of women in Congress and state legislatures by taking advantage of the once-in-a-decade opportunities of 2012.

What not you? Why not now? http://the2012project.us 36 | N Magazine

LISA HENRY-WEAVER Jane Henry Realtors, Inc.

Residential REO/Foreclosure Specialists

LISA HENRY-WEAVER Broker/Owner LWLISA@aol.com Direct: (972) 839-7227 Office: (972) 442-7575

Communication Is Key

By Jackie Andoniu Download these apps to any smartphone or tablet device. They can help you and your staff stay better connected, work more efficiently, and manage your family. Available on iTunes or Google Play.

VOXER Very similar to a walkie talkie or intercom setup, this app allows you to save time on phone calls and voicemail. Create voice messages even when you are offline, or connect with you network via social media. This app hosts one-

(972) 839 –7227

on-one conversations, or group conversations. $FREE HEYTELL Connect with your friends and colleagues with a voice message system that is quicker than sending a text message. This app is mimicks a walkie talkie system like Voxer, but also features a geolocation option to find out

www.lisahenrygroup.com

exactly where your friends, business partners, and clients are located. $FREE SKYPE Camera and video phones allow you to utilize this app to its fullest for a more personal and engaging conversation with “face calling.” You are able to visually interact during a video call and mimic in person meetings. You can make free calls, video calls, and instant message any other Skype subscriber, regardless of their cell phone provider or geographic location. $FREE YAMMER Stay connected to your business and employees with this private and secure social network platform. Yammer allows you to connect with coworkers to collaborate, share ideas and be more resourceful within the company. You can view internal messages, post updates, distribute important notifications, and consult with other employees – basically a Twitter meets Facebook collaboration for professional and private business communication. $FREE DICTADROID This app is worth the price because it will allow you to save time and get your message out fast. This simple and easy to use app will convert your speech into text messages, emails, and post to selected social media networks. You can respond to an email, send out a text when your hands are tied up, and even convert a whole speech into a word document via speech

Marlene Cerreta

to text. $1.99

President/Designated Broker Marlene@Cerreta.net Certified women-owned brokerage Arizona State #5520 | DBE Certification | NAICS #531210

37 | N Magazine

www.CerretaTeam.com

DID YOU KNOW? NAWRB REPRESENTS OVER 1,200 PROFESSIONAL WOMEN IN THE HOUSING ECONOMY. DS NEWS SELECTED NAWRB AS ONE OF FOUR TRADE GROUPS HAVING A "RESOUNDING IMPACT ON THEIR COMMUNITIES." HOUSINGWIRE SELECTED NAWRB’S RESPONSE AS "ONE OF THE MORE INNOVATIVE" THINKERS AMONG 4,000 REO-TO-RENTAL PROPOSALS TO FHFA. NAWRB IS THE MOST VISIBLE WOMEN'S TRADE GROUP IN MORTGAGE DEFAULT MEDIA WITH AN AWARD-WINNING STAFF. NAWRB IS THE ONLY PROVIDER OF WOMENOWNED BUSINESS CERTIFICATION SPECIFIC TO REAL ESTATE.

ABOUT NAWRB NAWRB is the most visible women’s trade association specializing in the housing economy. As the only provider of womenowned business certification specific to real estate, NAWRB is dedicated solely to the promotion of underrepresented women and they businesses they own, manage, and operate.

NAWRB.COM

f/NAWRB | t/@NAWRB

38 | N Magazine

Contributed Article

EMBRACING BANK PARTNERSHIPS: THE TIMES THEY ARE A-CHANGIN’

by Dianne Langston Quality Real Estate Services, Inc. Dianne@DianneLangston.com

THE LINE IT IS DRAWN

Real estate is my chosen profession. I didn’t enter the field by default, I chose real estate because of the satisfaction I receive from helping others. I specialize in residential real estate sales, and today the real estate profession is about so much more than selling real property. We are brought face to face with all that the word “home” embodies. Modern practitioners require not only a need to succeed personally, but demand a genuine desire to assist others through one of the least understood and more challenging events a homeowner will experience as they enter the real estate market.

In the “traditional” real estate market we had to have compassion in divorce situations, and of course death. Today, our compassion encompasses just plain suffering and feelings of failure. Never before was the home not viewed as the optimum investment choice. The home was a place that the owner could speak of with pride of accomplishment. I vividly remember the days in California when men would meet in front of their respective garages on the weekend and engage in conversation about the value of their properties, and proudly proclaim the amount of equity they currently possessed.

Due to the unprecedented decline in property values, these garage conversations have given way to discussions about how to get out of the mortgage and maintain their dignity in the process. So many homeowners are underwater and owe more than their homes are worth. These are considered “nontraditional” real estate sales. They require a broker to engage the seller’s lender early in the sales process, or in some cases before the listing is marketed. This is to request the bank’s permission to sell the property at a price the lender must agree to, because the proceeds from the sale will not fully pay off the loan. Real estate brokers had no previous experience in negotiating with lenders about how much a property could bring in the current market, and whether a homeowner deserved to be set free of the debt.

39 | N Magazine

COME GATHER ‘ROUND PEOPLE

In order to stay abreast of the changing times, the market makers, and the major players – I attend REO and short sale conferences all over the country, and have restructured the operating systems for my office. The concern for a competent closing for the client has become paramount. It is not simply, “we didn’t get the house,” it can mean loss of

“The real estate broker is pivotal to all of the plans undertaken by our government. This includes the Congress, FHFA, HAFA, Fannie Mae, Freddie Mac, bulk investors, mortgage backed securities, and others. They will remain lifeless projections, wishful numbers, and failed attempts without the real estate broker.” opportunity that will not resurface any time soon, risking substantial earnest money deposits, and a homeowner facing foreclosure.

For instance, I am currently strategizing with a broker group to develop counter offer templates and a best practice negotiation model. This will enable us to reduce short sale

Contributed Article

fall outs, and increase our commitment to closing for our clients. We meet each week for 3-4 hours to discuss the challenges we face personally, have heard about from other brokers, and want to avoid. I spend a significant amount of time counseling and encouraging other brokers to embrace bank partnerships and adopt a can do attitude.

The real estate broker is pivotal to all of the plans undertaken by our government. This includes the Congress,

“We are the parties that are in the trenches and eye to eye with the potential home buyer or seller. We understand all that is needed to move the economy forward.”

homeownership begins to fall apart we are called to do far more than show up and have a listing signed. As fellow Americans and human beings, we are called to care and respond to the affected party’s needs. We can best respond to the call for help with compassion, understanding, and professional knowledge and expertise.

If I were on the road side bleeding to death I would appreciate your compassion and the fact that you care, but at some point in time I need someone to show up with the professional knowledge to help me, and to alleviate my suffering. That is our high calling for this point in time. We are dispatched first and foremost to a duty and standard of care, and then to offer professional assistance because we are well trained and equipped to do so. Then we will relieve much suffering in our communities and in today’s housing markets.

FHFA, HAFA, Fannie Mae, Freddie Mac, bulk investors, mortgage backed securities, and others. They will remain lifeless projections, wishful numbers, and failed attempts without the real estate broker. We are the parties that are in the trenches and eye to eye with the potential home buyer or seller. We understand all that is needed to move the economy forward. To this end I encourage my fellow real estate professionals to arm themselves with the knowledge, skills, tools, and technology to fight this battle with honor and pride.

FOR THE TIMES THEY ARE A-CHANGIN’

I encourage brokers to become involved with the communities where they live and work. Who knows and understands real estate the way that we do? Organizations and associations need your experience and understanding of today’s nontraditional housing market. They need you on their Boards of Directors to help steer the ships that will rescue drowning homeowners.

I find that in response to today’s business environment I have to morph daily into an REO agent, a short sale agent, an auction agent, counseling agent that can deal with the depression of today’s seller, and a well-trained agent that can articulate the advantages of a short sale. Today’s real estate broker has to embrace that a home embodies the hopes, dreams, aspirations, and memories of the residents. When

40 | N Magazine

Letter to the Editor

LETTER TO THE EDITOR: SYNCHRONIZING SOCIAL MEDIA If you have a question for the editors of N Magazine, please email NMag@NAWRB.com.

Dear N Magazine, Many agents have delayed getting on the current wave of technology. Simply learning to use your smart phone or tablet is not enough to brand your business in this new technology marketplace. The progressive agent must, I repeat, must establish their online presence. Without an online presence your business will virtually become as archaic as the horse and buggy; cute but ineffective in today’s mass media marketplace. There are many ways to get this education but nothing can replace a basic foundation on the rules of the Internet road, and how to apply strategies for synchronizing your social media profiles. This is the key to creating an effective online presence.

Should I pre-program my message among my social media?

-Patricia de Santos Patricia@My-REES.com

Hi Patricia, Here at NAWRB, we don’t believe in the synchronizing strategy because we want our online presence to feel creative and organic. We believe it’s imperative to be mindful of the type and quality of interactions with the demographic you are trying to reach. If you find more are commenting on your website’s blog than a Facebook post, that is a perfect example. Focus on where your network wants to be.

We agree that agents must be progressive and establish meaningful online presence. As an award-winning social media team, we suggest investing efforts in only 2-3 main social media outlets for a strong outreach. Learn how to use your phone and tablets’ apps for those platforms, and jump on the wave of becoming an expert of them.

The best form of “synchronization” is making sure you have the tools and knowledge of the more user friendly platforms. Twitter, for example, can reach out to not only real estate professionals, but clients, and like-minded women business owners. In today’s economy, networking across the board may prove more beneficial than a real estate only site.

Reach out to your network and have fun with it!

-the editors at N Magazine NMag@NAWRB.com

41 | N Magazine

Mother and daughter.

Owners of Dreams Reality.

NAWRB CONTRIBUTING

BLOGGERS. Terry Rasner & Sarah Carmona

THESE LADIES MEAN BUSINESS INTRODUCING

NAWRB’S CONTRIBUTING BLOGGERS AND MOTHER-DAUGHTER TEAM, Terry Rasner-Yacenda and Sarah Carmona It Should Always be a Question of Policy Posted July 30, 2012

REO is our business; that’s been the case for seven years, and we’ve been through a great deal over these years. Like many other women REO Brokers, we have literally hundreds of stories, and we have the honor of writing this blog to share what we feel are the best of the best we’ve experienced.

Where is Gladys When You Need Her? Posted August 15, 2012

Do you remember the TV sitcom,Bewitched? Of course you do; Elizabeth Montgomery was everyone’s favorite witch, but it was her nosey neighbor, Gladys Kravitz (Alice Pearce) who at times stole the show. In our years of REO (Terry’s the Broker; Sarah’s the Broker/Salesperson) we’re always the first to say, “Thank you, Mrs. Kravitz!”

When “Tough” Ladies are Weakened by Spilled Blood Posted August 29, 2012

I yelled over the phone to my daughter, “Sarah, to call for police back-up!” The situation was bad and getting worse. Sarah and one of my other 20-something staff were at a vacant listing we had (a 4-plex), to meet the water company man to have the water turned on. The girls showed up on schedule, met the utility man, and entered the property like usual, only this time they heard an odd pounding sound.

NAWRB members can read the full posts by logging into NAWRB. com and accessing N Online in the Member Resources section.

To become a contributing blogger, please email the editor at Crescent.Seward@NAWRB. 42 | N Magazine

ABOUT NAWRB

Overview NAWRB is the most visible women’s trade association specializing in the housing economy. As the only provider of women-owned business certification specific to real estate, NAWRB is dedicated solely to the promotion of underrepresented women and the businesses they own, manage, and operate.

FOR WOMEN-OWNED BUSINESSES

Gold Certified Gold Certified members are premier member businesses with full access to NAWRB services, women-owned business certification, priority referrals, and national media placement opportunities. Gold Certified members are women-owned businesses and every employee has access to NAWRB. These real estate and related businesses are the core of NAWRB’s national, and exceptional, membership.

FOR INDIVIDUAL WOMEN

Women with Access Women with Access are individual women who may work for a publicly held or menowned business in the housing economy. Women with Access join as individuals and have access to live and archived training sessions, referrals, and media opportunities through the NAWRB network and other outlets. Affiliate members are often individual agents or women in related services such as title and escrow.

Subscriber NAWRB Subscribers are industry professionals who want an entry-point to NAWRB membership. Subscribers receive access to live teleconferences, a one year digital subscription to NAWRB’s N Magazine, and Newsroom e-service.

44 | N Magazine

Cade Holleman Executive Director

Crescent Seward Communications Coordinator

Jackie Andoniu Media & Member Specialist

DesirĂŠe Patno National President

Melva Wagner Government Relations

Stephanie Shubin Visual Communications Coordinator

Heidi Robinson Membership & Events

Elizabeth Goodchild Certification & N Magazine

Alex Hernandez Membership Coordinator

Patricia de Santos Education & Community Enhancement

44 | N Magazine

N CONC LUSION

Influence is something that’s hard to measure. You may not know you wield it until someone tells you that you influenced a decision they made or served as a role model in their career or life. This month, we are happy to announce and appreciate the nod from Housingwire Magazine as they include our national president in their second annual list of Influential Women in the Housing Economy.

A trade group’s mission is to influence its industry, policymakers, institutions, businesses, and consumers. In our case, we try to be as clear as possible: when you have the choice to do business with someone, choose a woman.

From the staff here at NAWRB, we’d like to congratulate the woman who started us on the path of promoting NAWRB members and the great things they do in the housing economy every day. We’re sure that if you look around your own life and business, you’ll find a few women who are changing real estate, too.

Congrats, Des.

46 | N Magazine

ISN’T QUITE THE RIGHT WORD But when you offer a subscription to NAWRB Newsroom, N Magazine, and live teleconferences priced at just $99 that’s exactly what we’ve done.

Subscribe to NAWRB for just $99.

ALL YEAR ONE FLAT RATE

ANYBODY IN THE WORLD

47 | N Magazine

48 | N Magazine