Vol. 5 issue 4 by Women in the Housing & Real Estate Ecosystem

sheCENTER(FOLD)

Rebecca Steele CEO and President, Sigma Associates, LLC

Page 36

Housing Trends VOL. 5 / ISSUE 4

2017: The Year of Women & Minorities Page 24 The 3rd Annual NAWRB Womenâ&#x20AC;&#x2122;s Diversity and Inclusion Leadership Conference Page 27 NAWRB Adds Tami Bonnell, Min Alexander & Melanie Gass to Diversity & Inclusion Leadership Council Page 46 EXIT Realty Becomes a Strategic Partner Page 47 Women Entrepreneurs: Alternative Business Credit using Homeownership Page 49

Why is Diversity Classification Important for Real Estate Businesses? Page 59

ecently, the U.S. Department of Housing and Urban Development (HUD) awarded $56.5 million to 77 Native American communities throughout the country to improve housing conditions and stimulate community development for residents, including funding construction projects and local jobs. The grants are part of HUD’s Indian Community Development Block Grant (ICDBG) Program, which supports a wide range of community development and affordable housing activities. “This investment will expand affordable housing and economic opportunities for families in Native American communities across the country,” says HUD Principal Deputy Secretary for Public and Indian Housing, Lourdes Castro Ramírez. “We are proud to continue collaborating with tribal leaders to improve housing conditions and to lift up neighborhoods with vital new infrastructure and vibrant community spaces.” The ICDBG program was established in 1977 to help Indian tribes and Alaska Native villages meet their community development needs. Federally recognized Indian tribes, bands, groups or nations (including Alaska Indian, Aleuts and Eskimos), Alaska Native villages, and eligible tribal organizations compete for this funding each year. The goal of the program is to develop viable Indian and Alaska Native communities, including neighborhoods with decent housing, suitable living environments and economic opportunities. Communities can use the grants to rehab or build new housing; to buy land for housing; for infrastructure projects such as roads, water and sewer facilities; and to spur economic development including jobs.

This year’s projects include building or fixing homes for many of the awardees. Other uses include the All Mission Indian Housing Authority of the La Jolla Reservation in California using $605,000 to provide the west side of its community with much needed water. To address the effects of the ongoing drought in California, the tribe has three water infrastructure improvements planned. Near Auburn, Washington, the Muckleshoot Housing Authority will use its $500,000 grant to improve 10 housing units, making them more energy-efficient and creating three jobs in the process. Near the City of El Reno, Oklahoma, the Cheyenne-Arapaho Tribe will use its $800,000 grant to construct the Concho Head Start Center which will include five classrooms and a large multi-purpose room to serve 57 low-income children and their families with programming to address their educational, emotional, social, cultural, health, nutritional and psychological needs. HUD administers seven programs that are specifically targeted to American Indian, Alaska Native or Native Hawaiian individuals and families, and federally recognized tribal governments. HUD will provide $798 million in FY 2017 to fund programs that support housing and development initiatives in American Indian, Alaska Native and Native Hawaiian communities. Through innovative programming, American Indian and Alaska Native tribal governments have created sustainable and community-driven solutions to their housing and community development challenges. For more information, visit www.hud.gov.

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LEGAL ISSUES

Latest Legal Issues in Real Estate Trends In 2007, the Great Recession hit the real estate mar-

ket. As a result, there were unprecedented increases in foreclosures—approximately 8 million homes were foreclosed—and short sales due to losses of income and depreciation in the value of homes. The situation was compounded by loans secured by real estate, for which borrowers did not qualify. There were also questionable loan products with adjustable rates, creating a situation where borrowers could no longer afford their properties. As a result, from 2007 to 2011, the real estate industry dealt with short sales and the REO resale market.

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In 2010, the “flipper market” was born. Due to low priced short sales and REO resales, investors began purchasing properties. Those investors renovated and improved those properties and subsequently placed them on the market. While the flippers assisted in the recovery of the real estate market by driving prices up, they also created a significant amount of litigation for real estate professionals. A flipper’s main objective in property investment is to earn a profit. Therefore, when making improvements,

LEGAL ISSUES properties started closing, through the first part of 2016, lawsuits against flippers constituted approximately 40 to 50 percent of the nondisclosure litigation in California. Another fallout from the Great Recession was an increase in rentals. People displaced by the foreclosure and short sale markets could no longer qualify to purchase properties. Therefore, they began renting. These homeowners had to compete with millennials, a generation with 11 million renters and responsible for 11 percent of the growth in renter households in the past decade, and the rental market saw formidable increases. The rise of the rental market created newfound significant issues for real estate professionals. For example, agents started dealing with tenants and leases where they had not done so in the past. Tenants filed claims against real estate agents arising out of the following: interference with tenant’s rights; violation of rent control laws; wrongful termination of leases; wrongful eviction; failure to maintain property; and un-inhabitability claims. The real estate market started its recovery in approximately 2012. By 2014, there were many areas where the market had a complete reversal and became a seller’s market. This led to multiple offer situations. Buyers then started writing non-contingent offers to be competitive. Non-contingent offers led to a wave of litigation by buyers claiming that they were not properly advised on the risks of not having inspections.

“A flipper’s main objective in property investment is to earn a profit. Therefore, when making improvements, many investors take shortcuts or do not utilize the highest quality materials.” many investors take shortcuts or do not utilize the highest quality materials. Investors also know very little about the properties they own. Therefore, disclosures are not as complete as those prepared by homeowners who are familiar with their homes, who have lived in them for long periods of time. Many times, investors even fail to obtain necessary permits for their improvements and repairs. When buyers view flipper properties, the properties are generally in aesthetically good condition. Therefore, buyers are fooled into believing the property is in good condition, even if it is only cosmetic. The flipper market created a trend in which buyers would move into homes and learn that the repairs were either insignificant, improper or lacking in quality, constructed with no permits or there were serious problems with the property that were never disclosed. From 2012, when these

This year has brought a more normalized market. There are very few short sales or REO sales; these sales are only taking place in isolated areas where the economy has not recovered and loan modification agreements are not being renewed. The flip market is exhausting itself and investor resales are becoming more limited. “Boomerang buyers,” who were displaced during the short sale/REO market, are now recovering financially and purchasing homes, which is decreasing the rental market. The market seems to be more normalized with more equality between buyers and sellers, which is creating

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LEGAL ISSUES

â&#x20AC;&#x153;This year has brought a more normalized market...The flip market is exhausting itself & investor resales are becoming more limited.â&#x20AC;? more stability and less litigation. Unequal markets lead to more claims. Because of the more normalized market with equal bargaining power between buyers and sellers, the parties are negotiating inspections, repairs, extensions to escrow and other terms. Buyers have opportunities to inspect properties and are doing so, which is compounded by the ability to ask for credits and repairs from sellers. As a result, claims are decreasing and resulting litigation is becoming more stable. Shannon B. Jones, Partner, Shannon B. Jones Law Group, Inc.

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EXIT Realty

HIGH

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NAWRB Magazine’s Volume 5, Issue 4, Housing Trends, presents the developments women entrepreneurs are building in the housing ecosystem, delineating the consequences of these progressions on their lives, careers and industry. Achieving groundbreaking career success and homeownership, the momentum with which women are creating a better tomorrow is beginning to shine. Our array of expert contributors provides an engaging inside look at women’s development in our industry. From insightful strategies to increase women homeowners and streamline business operations to the litigation side of housing and doing business with the state of California, NAWRB brings you trenchant, actionable information. We have the privilege of featuring Rebecca Steele, CEO and President of Sigma Associates, LLC, as this issue’s she(CENTER)FOLD. Recently cleared with prejudice in the 2008 housing crisis, Steele shares the personal story of getting her life back after having her reputation and

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career questioned. She now looks to the future with renewed energy and excitement. All professionals can learn from Steele’s inside perspective. Women are one of the most significant trends in housing. The housing ecosystem is transforming by the day, and adapting to these changes is essential to thrive among the competition. Women are no exception to this rule; as they continue succeeding, paving the way for coming generations of commanding entrepreneurs, a more balanced business field will result. NAWRB is a leading advocate and resource for the women’s movement in the housing ecosystem. Collaboration is essential; get on board and make a difference! Desirée Patno Publisher/CEO

Desirée.Patno@NAWRB.com

EXCELLENCE WITH IMPACT

Real estate or otherwise, your product or service is ex-

The pursuit of excellence brings success to your comcellence. If you are doing business right, you are selling pany, because excellence can sell itself. Of course, there excellence to your customers. We all desire excellence; are many smart strategies and intelligent marketing dewith it your business will grow. Now you have reputation cisions to be made to promote your excellence to the and resources. Use your reputafullest, but at the end of the day, tion and resources to impact the it’s easy to sell the best product "Excellence should be world, locally and globally, both or service. You tell the truth. Exwrapped up in the very as a community of people and as cellence should be wrapped up in a physical place. D N A of the company, in the very DNA of the company, in its product or service, culture, emExcellence its product or service, culture, ployees and message to the world. We can define excellence in many employees, and message ways, and I won’t get into the In our media savvy world, marketdetails here, but I like to define ing is one of the most important to the world." excellence as “the quality of beaspects of a company. Yet we caning outstanding.” Your product or service should not become dazed by this importance and overemphasize stand out among the others. You want your product or the worth of our company as its message. In order to take service to fulfill your customers’ needs, not convince a beautiful picture, you must first have a beautiful subthem of their need for your product or service. Your ject. Your first priority must be the value and standard relationship with them should be beyond transactional of your product or service. We must offer excellence to to personal, and if you’ve got the best and most excel- our customers. With that priority established, you can lent product, you’ve placed yourself in a great position package that excellence to the world. You don’t just have to build a huge, dedicated customer base. a real estate company; you have a real estate and marketNAWRB MAGAZINE |

EXCELLENCE WITH IMPACT ing company. If you’ve spent any time in the marketing space, you’ll know that the second step to great marketing is telling your story in an honest, compelling way, providing real value and standing out. Excellence is the key to doing that well.

Impact

Once you have established a standard of excellence in your product or service, you will have a reputation and resources. The usage of these is the most important responsibility a company or individual has. Simplified, you have time, energy and finances—everything you need to change the world. In the past it has been enough to simply invest these resources back into the company to at best make a better product or sometimes simply to grow your company’s reach or footprint. I believe we as business leaders have a responsibility to dedicate a portion of these resources to impact the world. To me, we can look at the world in two ways. Firstly it is a community of people. Secondly it is a physical place. We can even go farther and think about the world locally and globally. These are broad statements that could come off as “feel good” sentiments, but the practical application is powerful. I’ll use Aerial as an example. Locally, we participate in tree planting programs within the neighborhoods that we develop. We ask the neighborhood council members and presidents what they need and work to get it for them—be it new sidewalks or lights, whatever the need is; we invest in that community’s needs. Other times we ask them what is working best in their neighborhood so we can continue to increase their sustainability in that manner. We become a resource and advocate for the community, and in turn we gain their respect. Our relationship with them goes from transactional to personal, because we make the effort to understand and work with them to elevate. Regarding sustainability, we have a team dedicated to researching the newest and most effective green building supplies and implementing them as quickly as possible. We are dedicated to saving energy and pursuing alternate energy pathways whenever possible, and continue to innovate in that space and look toward future possi-

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bilities even when it’s not financially viable yet. We don’t sell houses in a vacuum of time and space. The customer and we both live in the same world, and we try to work together to make it a better place. There are what I call “Aligned Impacts” and “Lateral Impacts” to be made when a company is generous with its resources that come from an excellent product or service sold in an excellent way. Many of the impact initiatives I’ve spoken about can directly benefit the company. We are investing resources and many times are gaining a return, a growth in our reputation and brand. There is nothing wrong with this when a company does it for the right reasons—the benefits to the company should be a bonus, not the directive. Lateral impacts are less synergistic. They make less “business sense,” but more “human sense.” Our lateral impacts are only lateral in the business sense. In the world and in my heart, they are as aligned as they can be. When I was 18 I went on a missions trip and saw firsthand the horror of sexual abuse that exists in the culture of some countries. My young eyes were opened to the fact that the basic needs of others were not being met, and my initial drive to start my company was to contribute to the eradication of these issues. Our company now sponsors an orphan in Kenya in the name of every person who buys a home from us. In our welcome packets for our new homeowners we include products made locally or globally that support initiatives such as domestic abuse relief and U.S. veterans support, and we let them see how their purchase helped change the world a little bit at a time. I believe that businesses have a responsibility to be a force for good, and to use our excellence for maximum impact. Have the courage to operate your business with the mindset of “Excellence with Impact,” and join the force for good to see benefits not only personally but also in your company, culture and the world around you. Britnie Turner Keane is the Founder and CEO of Aerial Development Group.

yourLoanTrackerSM — puts the process at your fingertips Looking to buy or refinance a home? Now there’s a better way. With yourLoanTracker, you can: Confidently move through the home loan process using a computer, smartphone, or tablet. Check the Progress-at-a-Glance bar on your eStatus dashboard to know where you are in the process at all times. Quickly receive, review, and securely upload documents — sign select documents electronically, too. Count on a home mortgage consultant to guide you every step along the way.

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NAWRB STAFF & CONTRIBUTORS

Proud winner of consecutive APEX Awards for 2015 and 2016!

PUBLISHER/ EDITOR-IN-CHIEF Desirée Patno SENIOR GRAPHIC DESIGNER Kendall Roderick

CONTRIBUTORS Britnie Turner Keane Ginger Wilcox Kelle Nolan Letisia Marquez Michael Aguillio Rebecca Steele Shannon B. Jones ADVERTISERS City of Hope

CONTENT WRITER Belester Benitez PRODUCTION ASSISTANTS Jay Jones Odysseus Jones

Desirée Patno Enterprises Inc. EXIT Realty Freddie Mac Herbert H. Landy Insurance Agency, Inc. NAWRB NMP Magazine RISMedia Wells Fargo Home Mortgage

NAWRB Magazine is a bi-monthly magazine featuring unique content, articles on diversity and inclusion for women in the housing ecosystem, exclusive interviews with industry professionals, business development tools, book reviews, feature stories and more. All materials submitted to NAWRB Magazine are subject to editing if utilized. The articles, content, and other information in this publication are for information purposes only. Articles, content, and other information in this publication without named authors are contributed by the publication’s staff, but do not necessarily reflect the views or opinions of NAWRB. NAWRB assumes no liability or responsibility for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon.

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NAWRB Magazine is your gateway to the hottest topics for women in the housing ecosystem, bringing Women’s Diversity & Inclusion to the Forefront with Accountability & Results. /NAWRB

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City by the Bay

Combatting Gentrification Coming in as the seventh most expensive city in which to buy a home, according to Coldwell Banker’s Real Estate Home Listing Report, San Francisco—where the average cost of a 4-bedroom, 2-bathroom house is $1,672,100 and the median household income is $78,378—is home to a housing market that has unabashedly driven out long-time residents and businesses with its skyrocketing property prices. The inability of residents to remain in their homes, and entrepreneurs to maintain their businesses, can be seen as a side effect of booming costs, but it is entirely unfair to people who don’t earn the kind of money to continue living in the city.

"...San Francisco — where the average cost of a 4-bedroom, 2-bathroom house is $1,672,100 & the median household income is $78,378..." In an attempt to combat this vicious cycle, San Francisco city officials focused on assisting low-income residents secure preferences when applying for the new Willie B. Kennedy senior housing complex. This week the Department of Housing and Urban Development (HUD) announced it will allow an “anti-displacement” preference for San Francisco residents currently residing in neighborhoods experiencing swift gentrification. Through this ruling, 40 percent of the new 98-unit development will be set aside for seniors in the Western Addition, Bayview, Russian Hill, Mission and South of Market neighborhoods.

“This is important progress in our efforts to halt the displacement of residents at greatest risk of being forced out of the city they know and love,” stated Mayor Edwin Lee. “This will thwart the out-migration of African-American and Latino communities who have been deeply impacted by the challenging housing market.” Like all successes, this one has two sides. First, it will prove a great help to the residents that are chosen to live in the complex, allowing them to remain in their city. On the other hand, most of the residents being priced out of these neighborhoods won’t be chosen as part of the 40 percent to live in the new 98-unit complex, and they will be forced to figure out their own solution to gentrification—likely a move out of the city. It is necessary that cities experiencing a rapid upsurge in home prices across the U.S. make it a priority to help keep long-term residents from being priced out of their own homes by providing alternative solutions. This is not a simple task. San Francisco experienced a victory in this space.

Features 3 HUD Awards Over $56 Million for Development Projects in 77 Tribal Communities

4 Latest Legal Issues in Real Estate Trends by Shannon B. Jones 9 The New Model for Business is Excellence with Impact by Britnie Turner Keane

13 City by the Bay - Combatting Gentrification

Contents:

16 Protect Your Small Business From Cyber Attacks 20 Doing Business with the State of California by Michael Aguillio 24 2017: The Year of Women & Minorities 27 The 3rd Annual NAWRB Women’s Diversity and Inclusion Leadership Conference

34 Utilize Your Resources to Build a Winning Business Plan

36 sheCENTER(FOLD): Rebecca Steele 44 Expanding Your Business through Innovation 46 NAWRB Adds Tami Bonnell, Min Alexander and Melanie Gass to Diversity and Inclusion Leadership Council

47 EXIT Realty Becomes a Strategic Partner 49 Women Entrepreneurs: Alternative Business Credit using Homeownership

54 Attention All the Single Ladies: 5 Ways to

Help You Become a Homeowner by Ginger Wilcox

57 Personal Interview: Kelle Nolan 58 Recruiting and Retaining in Today’s World 59 Why is Diversity Classification Important for Real Estate Businesses? 62 SBA Releases New Research Findings on Diversity Trends in Small Business Investing

65 Even When an Obese Person Loses Weight, Health

Problems Could Persist Due to Epigenetics by Letisia Marquez

70 Open Houses: Cookies Can’t Redeem a First Impression

Departments 18 Snapshot of Women Homeowners

26 Recipes 51 Health: Golf 14

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52 Showcasing Women ‘On the Move’ 61 SWAN (Speak, Write, Attend, Network) 64 Books & Movies

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20 49

18 13

27 sheCENTER(FOLD)

Rebecca Steele CEO and President, Sigma Associates, LLC

54 Vol 5. Issue 4: Housing Trends NAWRB MAGAZINE |

PROTECT

YOUR SMALL BUSINESS FROM CYBER

ATTACKS

With October and National Cybersecurity Awareness Month—

an annual campaign established by the Department of Homeland Security (DHS) to raise awareness about and educate the public and business owners on cybersecurity—in the rearview mirror, it is vital to ensure that your business is protected.

"...over 34,000 computer security incidents occur every day – and 62 percent of those incidents involve breaches of small and medium-sized businesses." According to the Wall Street Journal, over 34,000 computer security incidents occur every day – and 62 percent of those incidents involve breaches of small and mediumsized businesses. In their annual study, 2015 Cost of Cyber Crime, the Ponemon Institute demonstrates the incredibly debilitating impact of insufficient cybersecurity on small businesses.

2015 Cost of Cyber Crime Key Findings:

• The average cost of a single cyber attack on a U.S. company is $1.9 million • Globally - The average yearly cost of cybercrime has increased by 1.9 percent since last year - In 2010, the average time to resolve cyber attacks was 14 days; in 2015 it’s 46 days - The average number of successful cyber attacks per company was 68 in 2012; in 2015 that figure increased to 99

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To combat these cyber intrusions, the report suggests the following courses of action:

• Employ Data Encryption and Protection and Application Security to minimize cyber attack damages • Resolve attacks quickly with Security Information and Event Management (SIEM) • Use Security Governance Practices and an Intrusion Prevention System to reduce attacks • The study affirms companies utilizing proper security resources have lower cybercrime costs than companies that do not invest in appropriate cyber security. Reduce the costs to your business by using the best resources and ensuring your company is safe from cybercrime

The 30 million American small businesses are the backbone of our country, and any threats to these enterprises also apply to the economy. Eighty percent of small businesses have no employees and 91 percent of women-owned businesses employ no one other than the owner; they are stretched extremely thin and are therefore at risk of being predominantly unprepared to withstand breaches in their systems. Having secure systems is important for all businesses, including small ones that may not feel at risk of cyber attacks due to their small size. NAWRB is here working on a small business sustainability care pack. As a small business owner, you need to protect your business and situate yourself to navigate future developments in stride. Visit www.NAWRB.com for more information.

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CALIFORNIA BUSINESS

The California state government spends approximately $10 billion annually on goods, services and public works. Do you own or work for a small business? Are you interested in expanding your client base? Perhaps you should look into the government sector. The State of California does business with numerous Small Businesses (SB) throughout the state, buying products and services in IT, construction, temporary labor and even pencils.

DOING

BUSINESS

WITH THE STATE OF

CALIFORNIA

The stateâ&#x20AC;&#x2122;s Department of General Services (DGS) Procurement Division (PD) is the central purchasing authority for all state departments, agencies, institutions, community colleges, technical institutes and city or local boards of education.

Certification: Why get certified with the state? California state government requires state agencies to award at least 25 percent of their annual contracting dollars to certified SBs and at least 3 percent to certified Disabled Veteran Business Enterprises (DVBE). The state may also give a 5 percent bid preference to certified SBs and may offer up to a 5 percent incentive to DVBEs in the formal bidding process. As a California certified SB and/ or DVBE, your business is added to the DGS database, which state agencies and all our resource partners use to find SBs and DVBEs. With these certifications you are also eligible, under the Prompt Payment Act, for higher interest penalties for late undisputed invoice payments. All California state agencies and departments may use a streamlined procurement process known as the SB/DVBE Option by contracting directly with a California-certified SB or DVBE for goods, services and information technology goods and services valued from $5,000.01 to $249,999.99 (up to $281,000 for public works contracts) after obtaining price quotes from at least two SBs or two DVBEs. The State of California established the Small Business (SB) and Disabled Veteran Busi-

CALIFORNIA BUSINESS

“ T" he State of California does business with numerous Small

Businesses (SB) throughout the state, buying products and services in IT, construction, temporary labor and even pencils."”" ness Enterprise (DVBE) Certification Programs to increase business opportunities for the SB and DVBE community. The programs help SBs and DVBEs participate on a more level playing field when competing for state contracts. Our goal is to ensure all California businesses have access to state opportunities. The SB and DVBE supplier community are important not only to state agencies, but also to our 60-plus reciprocity partners, local government, municipalities and large businesses looking for subcontractors. Along with their own preference programs/certifications, they also honor the state’s SB and or DVBE certification. If you are considering certification, listed below is the certification criterion for SBs and or DVBE owners.

For Small Businesses: Be independently owned and operated. Cannot be dominant in the field of operation. Principal office located in California. Owners or officers legally reside in California. 100 or fewer employees. Annual gross receipts average $14 million or less over the previous three tax years.

For Disabled Veteran Business Enterprises: At least 51 percent owned by one or more disabled veterans. Daily business operations must be managed and controlled by one or more disabled veterans. The disabled veteran(s) who manages and controls the business is not required to be the owner(s). Home office must be located in the United States and cannot be a branch or subsidiary of a foreign corporation, foreign firm, or other foreign-based business. How can you apply for certification? If your business meets the eligibility requirements for state certification, register your business and submit your application today by visiting our new Cal eProcure website at the following link: www. caleprocure.dgs.ca.gov.

For more SB/DVBE information, go to: www.dgs.ca.gov/ pd/getcertified or for SB/DVBE certification assistance, call (916) 375-4940 Monday through Friday (except state holidays) from 8 a.m. to 5 p.m.

Bidding Opportunities: Cal eProcure allows bidders to upload bids/proposals in response to online solicitations. You can also track bid progress, learn about pre-bid events and access contract award and other relevant information. There is no fee for you to register, receive email or fax notifications, download or respond to the state of California’s bid solicitations on Cal eProcure. Small businesses can also access the California State Contracts Register, a central information source for state contracting opportunities. This system gives businesses access to bidding and contracting resources, as well as their certification profile, in one location. DGS also serves as business manager for the state of California. We help to better serve the public by providing a variety of services to state agencies through procurement and acquisition solutions, real estate management and design, environmentally friendly transportation, professional printing, design and Web services, administrative hearings, legal services, building standards, oversight of structural safety, fire/life safety and accessibility for the design and construction of K-12 public schools and community colleges and funding for school construction.

What's New?: Getting the help you need to do business with the state of California just got easier. The DGS/PD, in partnership with the California Department of Technology, released a brand new tool to put small businesses in touch with the resources they need. The mobile application can be downloaded by both iOS and Android users at the following link: http:// apps.cta.ca.gov/EMC/SBDVBE. With the tip of their fingers, business owners can access information on outreach events happening across the state that provide education on the state certification process and busiNAWRB MAGAZINE |

CALIFORNIA BUSINESS ness opportunities. You will also have access to a list of upcoming events, workshops and training opportunities by region, mapping directions to the events nearest your location and event contact and registration information. For more information on the mobile application, contact the DGS Procurement Division’s Communication & Outreach Section by sending an email to advocate@dgs. ca.gov. Visit the following link for information on upcoming outreach events: http://tinyurl.com/np52g9m.

Resources: The Office of Small Business & Disabled Veteran Business Enterprise Services (OSDS) Communications & Outreach section assists SBs and DVBEs by participating in outreach events, providing resource guidance and supporting the businesses through advocacy. To find upcoming events coming to you, visit: http://www.documents.dgs.ca.gov/pd/events/SBDVBEevents.pdf Although information about your state-certified small business will be included in databases that are accessed by state purchasing officials, your business must still

market its products or services. You find advocates from state agencies to learn of pending solicitation at http:// www.dgs.ca.gov/pd/advocate and what state agencies buy and the dollar amount of the contracts at http:// www.dgs.ca.gov/pd/Programs/caleprocure/SCPRSData.aspx. State government information and services can be found using the California Online Directory at www.cold.ca.gov. For Small Business and Disabled Veteran Business Enterprise certification program related inquiries: Office of Small Business & Disabled Veteran Business Enterprise Services (OSDS) OSDSHelp@dgs.ca.gov, (916) 3754940. For state procurement related inquiries: Department of General Services (DGS), Procurement Division custserv@dgs.ca.gov, (800) 559-5529. Michael Aguillio SB/DVBE Liaison

Procurement Division, Certification & Outreach State of California, Department of General Services

“ Small businesses can also access the California State Contracts Register,

a central information source for state contracting opportunities. This system gives businesses access to bidding and contracting resources...”

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Diversity of People. Diversity of Thought. Bring your fresh perspectives, innovative ideas and different approaches to Freddie Mac. We rely on a diverse array of suppliers to help us make home possible for millions of Americaâ&#x20AC;&#x2122;s families.

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The housing ecosystem is evolving and we are witnessing circumstances to be more favorable for underrepresented groups than previously. Will 2017 continue this progression?

While low mortgage rates are undermined by high home prices, buying in southern metros is at times over 50 percent cheaper than renting, according to Trulia. Buyers in the West, where high rents often remain preferable to the rising home prices, face a tougher task. Agents must recognize these conditions and the fact that international investment in U.S. real estate is expected to continue. In the first half of this year, Asian investors have invested $4.02 billion in New York real estate and $1.4 billion in San Francisco property alone, the top two most desired American destinations for their capital.

In 2015, the homeownership rate of female householders in 1-person households was 24.56 percent higher than the homeownership rate of male householders in the same category, according to Census Bureau data on national household demographics. The desire to own a home coupled with professional advancements make women a formidable source of purchasing power; in fields like civil engineering, women increased 977 percent from 1970 to 2010, and the percentage of married couples where the woman earns at least $30,000 more than the man rose three percent between 2000 and 2015.

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According to the U.S. Census Bureau, from 2014 to 2015, Hispanic poverty level declined from 23.6 to 21.4 percent, and the median annual income of Hispanic-origin households rose 6.1 percent, from $42,540 to $45,148. Similarly, the poverty level of Black households decreased to 24.1 percent from 26.2, and their median annual income increased 4.1 percent, from $35,439 to $36,898. As their income rises, minorities

â&#x20AC;&#x153;In the ďŹ rst half of this year, Asian investors have invested $4.02 billion in New York real estate & $1.4 billion in San Francisco property alone; the top two most desired American destinations for their capital.â&#x20AC;? will progress out of poverty and their presence among homebuyers will grow. In addition to their personal advancements, women and minority homebuyers will be assisted by government policies in 2017. Recently, the Federal Housing Finance Agency (FHFA) issued a Notice of Proposed Rulemaking (NPRM) on proposed amendments to its Minority and Women Inclusion regulations. Among proposed

2017: WOMEN & MINORITIES changes, the amendments would: â&#x20AC;˘ Encourage the regulated entities to expand contracting opportunities for minorities, women, and individuals with disabilities through subcontracting arrangements; â&#x20AC;˘ Require the regulated entities to amend their policies on equal opportunity in employment and contracting by adding sexual orientation, gender identity, and status as a parent to the list of protected classifications In October, Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), stated that redlining would be a priority for the bureau in the coming year. By focusing on redlining, the bureau is demonstrating that discriminatory practices remain a large issue and it behooves the housing ecosystem to eradicate them and allow consumers to exercise their buying power.

Despite high home prices, 2017 is expected to observe noteworthy buying activity from several groups. Underrepresented groups will receive the attention and help of impending government policies, which will create a clearer path to homeownership. A growing market of capable buyers will help strengthen the housing ecosystem and economy. These buyers are looking for the help of experienced professionals. Will you be ready for the buyers of 2017?

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WHAT WOMEN WANT RECIPE

Orange, Olive, Fennel Salad

Angel Hair Pasta with Raw Tomato Sauce

∙ 1 clove garlic, halved ∙ 1/3 cup extra-virgin olive oil ∙ 1/3 cup fresh orange juice ∙ Salt & freshly ground black pepper to taste ∙ Leaves from 2 bunches arugula ∙ 4 navel oranges, peel & pith removed, sliced crosswise ∙ 1 large bulb fennel, halved & thinly sliced ∙ ½ cup pitted oil-curred black olives Rub a large salad bowl several times with the cut surface of the garlic clove; discard garlic. In a bowl, whisk the oil, orange juice, and salt and pepper. Add the argula to the bowl and toss with the dressing; transfer the arugula to chilled serving dishes. Add the oranges, fennel, and olives to the bowl with the dressing; gently toss them to coat lightly with dressing and arrange over the arugula on the plates. Sprinkle with additional salt and pepper and serve immediately.

Cucumber Lemonade ∙ One pound cucumber, peeled or unpeeled, cut into large pieces ∙ One cup of lemon juice ∙ 1/3 cup of granulated sugar ∙ 2 cups of cold water Blend cucumber in a blender or food processor until it is pureed. Puree it as much as possible. Pour blended cucumber through a strainer with a cheesecloth or coffee filter into a pitcher, making sure to gently stir the juice. Add lemon juice and sugar to the cucumber juice. Stir mixture well and let sit in the refrigerator for 15 minutes. Stir and shake pitcher to dissolve the rest of the granulated sugar. Taste lemonade and add sugar and lemon juice as desired. Serve chilled over ice, with or without a touch of seltzer on top, and garnish with a cucumber slice.

∙ 3 pounds fresh tomatoes ∙ 1 small garlic clove, minced ∙ 2 Tbsp. fresh lemon juice or red wine vinegar ∙ 1 tsp. coarse salt ∙ ½ tsp. freshly ground black pepper ∙ 1 pound dried capellini or angel hair spaghetti ∙ ½ cup chopped fresh basil ∙To serve: grated ricotta salata or Parmigia no-Reggiano and olive oil Halve one pound of tomatoes crosswise, and rub the cut sides against the large holes of a box grater into a large bowl. Discard skins. Core and chop the other two pounds of tomatoes and add to the grated tomato bowl. Add garlic, lemon juice or vinegar, salt, sugar and pepper to bowl. Let marinate at room temperature for at least 10 minutes or until ready to use. Cook pasta in salted boiling water and toss with fresh sauce and basil. Serve lukewarm or at room temperature with a drizzle of olive oil and freshly grated cheese on top.

The 3rd Annual NAWRB Women’s Diversity & Inclusion Leadership Conference took place at the Hilton of Orange in Costa Mesa, California, on August 30th-31st, 2016. The women's synergy of connecting both professionally and personally in the housing ecosystem was infectious. “The conference provided excellent opportunities for networking with other women in the industry,” stated Sharon Bartlett, Principal Consultant and Owner of Sharon Bartlett Consulting. “All sessions were very in-

formative. More importantly, I can apply what I learned immediately to my business.” NAWRB had the incredible honor of showcasing a Real Estate Custom Office 365 Training Workshop to help attendees in their daily lives by Melanie Gass, Sr. Partner Channel Marketing Manager SMB&D, US SMB Business Development, Microsoft Corp. Women-owned businesses face a difficult path, with 91 percent of them

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NAWRB DIVERSITY & INCLUSION employing only the owner, and their success through these barriers and limitations means that much more. Gass guided attendees through streamlining their operations and maximizing their performance for success. Women entrepreneurs are here to create change. Who better to deliver the power of women? In other very focused sessions, attendees learned about obtaining contracts for their businesses and the usefulness of women-owned business certification. The latter was addressed in Breakout Business Certifications, Access to Capital, in which experts Karla V. Gonzalez, MBA Business (Bilingual) Consultant, Procurement/ Contracting Specialist, Inland Empire Small Business Development Center (SBDC), Sylvia Gutierrez, Economic Development Specialist, Small Business Administration (SBA) and Irma Delgado-Trikas, President and CEO of Arista National Title provided direct resources to capitalize on their business platforms. Aside from promoting the success of women and minority-owned businesses, other discussions focused on how we can promote women's homeownership and encourage the growth of women entrepreneurs. During Women’s Homeownership Initiative, Charlette Williams, Vendor Relationships and Performance Management Unit Manager of Freddie Mac; Jennifer Fisher, Managing Director and Region Sales Manager with Union Bank in South Orange County; Sandra M. Speed, Regional Diverse Segments Manager, Region 11-Southern California, Wells Fargo Home Mortgage; and Helen O'Sullivan, Sr. Vice President, Programs and Administration at NeighborWorks Orange County shared personal stories emphasizing the importance of making decisions that create options for oneself, as well as helping others do the same. Michelle Ruiz, President and CEO of Ruiz Strategies and Desirée Patno, led Women’s Future Development, a discussion addressing the efforts that could be made, at the local and global level, to increase support for women's growth in executive positions.

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Toni Moss, CEO of AmeriCatalyst LLC, provided a commanding opening keynote speech detailing her journey as a globalization expert. “As a kid, whenever I was standing around my mother would say, ‘Why don’t you make yourself useful as well as ornamental?’” Moss began. “So I hope that you will all find the next hour useful as I stand here ornamental.” I think we speak for everyone in attendance when we say we did. Relating housing finance to a volcano, Moss explained that just like when looking for the volcanic source of an explosion, in housing finance you need to take a step back and look at the bigger picture in order to understand how we got there and where we are headed. She discussed her beginning in globalization as she worried about European banks’ decision to change their funds in order to get easier access to money. “I became very concerned about the over-leverage that was occurring in housing and mortgage markets in particular, and their trajectory. And I began to wonder what the negative outcome of this might be.” Moss detailed the introduction of the Euro and the effects of globalization in recent years, from the collapse of the Greek economy to the first-ever negative interest rates in 13 Western countries. One of the most interesting topics she addressed was the effect of climate change on real estate. Investors are buying luxury real estate sight unseen in areas that may be entirely uninhabitable in the near future. About expensive condominiums currently being built on Florida’s coast which have already been sold, Moss articulated, “In 2025, said scientists, this exact area will be one inch underwater. Nine years away. This is a result of the continental ice shelf breaking off last year, which nobody expected to happen until 2050. Everything is accelerated. Not to mention it

NAWRB DIVERSITY & INCLUSION

could be nine degrees hotter and hurricanes one heck of a lot more powerful.” It’s important to consider all aspects of a property before purchasing, and climate change, it seems, will only play an increasing role in the future of real estate. Moss explained the importance of buying cautiously while demonstrating the irresponsibility with which some developers and buyers proceed in our turbulent industry. She did assure attendees, “My point about doing this session is not only to talk about the negative, but also point out there will be cities that benefit from climate change migration. Absolutely there will be.” In our powerful Office of Minority & Women Inclusion (OMWI) Updates, Sharron P.A. Levine, Director of OMWI, Federal Housing Finance Agency (FHFA) and Melodee Brooks, Sr. Deputy Director of OMWI, Federal Deposit Insurance Corporation (FDIC) shared the latest diversity and inclusion (D&I) developments at their agencies and how the future of equality in the housing ecosystem looks. Accountability was appropriately an important topic of discussion. Melodee Brooks expressed the FDIC’s accountability and emphasized that the agency is committed to diversity and helping women-owned businesses. She underlined that they are truly measured by their success.

ments to us and we can begin publicizing the leading practices, scope of their spend and employment of their entity. That’s a huge thing for us.” Similarly, the FHFA works diligently to help regulated entities understand the importance of diversity and inclusion. “I view my job as working to change the hearts and minds of people,” Levine stated. “Diversity and inclusion can be a very emotional thing for people, depending with whom you speak it can even mean affirmative action. It is diversity and inclusion. What I have spent a good portion of the last two years doing is speaking to our regulated entities, to the president and CEOs, boards of directors. In essence, to let them know what diversity and inclusion really means. To emphasize to them the importance of having D&I be integrated into their business. It’s not just a one-off activity, it is something equally as important as a business strategy.” To our attendees, above all, Melodee Brooks and Sharron P.A. Levine stressed communication. “Help us get to know you,” said Brooks. If these agencies aren’t familiar with your company or services, they cannot work with you or invite you to bid on contracts. The outreach and procurement arena is a two-way street. In conclusion our expert speakers encouraged business owners to market their business to government agencies, verify the applicable NAICS codes being offered to them and register their business on FedBizOpps.gov.

Jay Inouye, Director, Vendor & Diversity Management, “Just recently we published in the Federal Register, in Strategic Sourcing & Procurement, Office of Chief Adfact, on August 24th, a proposed template for our finan- ministrator, Freddie Mac and Roxanne Wilson, Supplier cial institutions to use in conducting their assessments,” Diversity Manager, Fannie Mae concentrated on supplistated Brooks. “They can start presenting their assess- er diversity, detailing vendor relation and procurement NAWRB MAGAZINE |

NAWRB DIVERSITY & INCLUSION

contract opportunities that are emerging for women in our GSEs & Servicing Supplier Diversity Update. Both Inouye and Wilson expressed their appreciation for FHFA regulations and highlighted the help it is providing through its emphasis on D&I, from the procurement space to their investment in capital markets. Inouye added that the presence of D&I on scorecards is filling a crucial role in helping drive accountability and the importance of registering your business with Fannie Mae and Freddie Mac was accentuated throughout the session. Wilson explained that despite there being no (inventory) available in some areas, registering your business is necessary and will ensure you’re at the top of the list when opportunities do emerge.

the SBA’s Small Business Week. “There were a remarkable amount of hurdles I had to cross with our organization to get them to think this big and this broadly.” The most professionals Microsoft had ever reached during Small Business Week was 60 million. Under Gass’s leadership, it rose to 167 million in the 2016 installment of the event. For her groundbreaking work, she was awarded the second-highest Microsoft honor, the Microsoft Circle of Excellence: Gold Club Award. Vanessa Montanez, VP, Mortgage Business Development Manager, East West Bank, experienced her first gender-based barrier when she was working in mortgage lending and saw the opportunity to go into management. “The person who interviewed me was a white male, over 55. I was very young at the time; this was my first management interview. He said that the person who was qualified would get the position and that it would be a white male. I was floored and so upset.” What did she do? Montanez applied at a competitor and earned a management position. She emphasized the need to believe in yourself even when others don’t and move forward.

Our flagship NAWRB Diversity & Inclusion Leadership Council (NDILC) Luncheon featured council members sharing their professional and personal stories with attendees. There was no shortage of honesty and value. The respect in the room was present as Min Alexander, Senior Vice President of Real Estate Services, Altisource, expressed that she hasn’t felt she’s arrived yet, that she’s Amy Brandt-Schumacher, President still growing. Alexander assured Originations & Corporate Techattendees that every professional nology, New Penn Financial, told has their own career path, and a story about an encounter that you need to carve out your took place a few years ago when own. The room erupted into she was at a different compaunderstanding laughter when Alexander stated, “My pas- ny. Her superior asked her to cut additional funds out of sion is to make wealth for myself and then to help others.” the budget; when she inquired about the strategy he asked, "why do you need to know that?" As she explained that the Cheryl Travis-Johnson, EVP and COO, VRM Mortgage strategy had a significant effect on her approach to cutting Services, chronicled her start in real estate and desire to the funds he told her not to get emotional. be an attorney. She took a different career path when she witnessed the potential of becoming a C-suite ex- “You would think maybe that happens when you’re 25 or ecutive and decided to earn her MBA. A strong piece of unproven,” Schumacher explained. “At this point in my advice during the conversation, Johnson stated, “You have career, to have someone say that to me is outlandish. It to always attach yourself to your ideas. Once I started to reminds you that you forget this is out there. It’s still out do that my career started to grow.” there at every level. It exists. There’s not a whole heck of a lot you can do except when you see it smack right back. Melanie Gass, spoke about her career beginnings and the We have to be confident and push back when we see tremendous work she is doing. “I can’t even tell you the those things. We can’t be cowed by the ridiculous views amount of convincing I had to do internally with my vi- of other people.” sion and how we wanted to participate from Microsoft’s perspective,” Gass said about Microsoft’s involvement in As the NDILC Luncheon was coming to an end, talk

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shifted from professional experience to a more personal subject matter that is equally pertinent to the success of career-driven women and minorities: self-confidence. Each woman on stage held the microphone in her hand and spoke of the “aha!” moment in which confidence was not something she sought but something she owned. Melanie Gass, said that her moment was when a peer told her, “You need to tiara up!” Wearing a tiara, which Gass admitted she literally wore for a time, has metaphorical significance: your tiara is what makes you unique, an imprint that allows others to recognize you instantly. For Gass, her tiara slowly morphed from something she wore physically to something she wore internally. Her tiara became her personality, drive, experience and success. She was the tiara that no one missed. Like Gass’s story, each one was unique and ingrained itself in the minds and hearts of every person in the room. However, we must remember that confidence is not a finish line one reaches; self-confidence is a lifelong journey. Toni Moss, was incredibly honest about her confidence being an on-going process. Moss shared how her personal journey has created in her a perfectionism that motivates her to always work hard to prove herself, to herself more than anyone else. An attendee had a heartwarming message for Moss: from hearing Moss’s inspirational keynote speech earlier in the conference,she viewed Moss as undeniably intelligent and beaming with confidence. Moments like this remind us that others see things in us that we may fail to recognize ourselves. Moss, just like every other woman professional on that stage, showed humbling authenticity, a key ingredient Vanessa Montanez, linked to confidence. Montanez emphasized that to be confident you must “be true to yourself.” Energized by the synergy and power of our NDILC council members, attendees were prepared for the day’s penultimate session, Contracting & Teaming Agreements. April Cooper, Founder & CEO, Alpine Companies, described her process writing proposals to the Department of Housing and Urban Development (HUD) as part of the SBA’s 8(a) Program. After being declined several times and having to appeal decisions, a process that took months of work and even time away from her family, Alpine Companies won a HUD contract worth

NAWRB DIVERSITY & INCLUSION

300 properties a month. Cooper exemplified that not only are there opportunities available for women-owned small businesses, but it’s possible to capitalize on even the big ones through hard work and dedication. “We are really trying to get small businesses involved in state government, primarily because all of you who have businesses in this state are the backbone of the state economy,” stated Michael Aguillio, SB/DVBE Liaison, Procurement Division, Certification and Outreach, State of California, Department of General Services. “With you thriving and doing well, the economy of the state of California does well. We fight very hard to make sure that you’re involved.” Aguillio also advised attendees to obtain all of the certifications for which they qualify, in order to increase the number of opportunities available to their businesses. He went on to cover business avenues from the state of California, including the exciting High-Speed Rail currently under construction. Small Business Sustainability finished our incredible sessions with Esther Morales, Executive Director, National Women’s Business Council (NWBC); Judy Y. Chiang, Senior Litigation Attorney, Kimball, Tirey & ST. John LLP; Debbie De Grote, Founder & President, Excelleum Coaching & Consulting; and moderator Desirée Patno. From Morales’s advice on working with federal officials to help drive policy change to Chiang’s emphasis on the importance of preventative care like insurance and sound legal advice for your business, the panel delivered the power of small businesses and their potential. De Grote underscored the importance of collaboration, both within your company and with other businesses, for growth and success. She reminded attendees to invest in building their business, learn about their field and build their network. Fitting advice for a ballroom full of professionals who spent the day learning the keys to success from the housing ecosystem’s leading experts. In its own right, this session provided unique diverse collaboration. The path to change starts with a trade association having a vision, passing the baton to a real estate attorney for the oversight, running the feedback through a real estate coaching portal and presenting the results to the advisors for the President,

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Congress and SBA. Now that's powerful! We brought the house down with our Roaring Twenty Awards Gala featuring birth decade-themed attire as we honored our amazing winners for their hard work, passion and dedication to the housing ecosystem. The camaraderie and laughter from seeing everyone dressed in their beautiful outfits coupled with our Women's Snapshot modeling to make this a night we didn’t want to end. As we danced to great music from the Sam Sorensen Band we were reminded of the power of women’s collaboration, and we remembered the reason we all came together in the first place, to support each other and leverage our unique and meaningful spirits in the housing ecosystem. Here’s to our supporters, sponsors and attendees of the 3rd Annual NAWRB Women’s Diversity and Inclusion Leadership Conference! We’ll see you next year!

WHEN WE PUT OUR MINDS AND HEARTS TOGETHER, CANCER DOESN’T HAVE A CHANCE. Cancer cannot withstand an assault of brilliant minds committed to breakthroughs. Here, some of the world’s best physicians and researchers join forces to save lives. Find out why so many innovative cancer solutions happen here. Find out why there’s no place like Hope. CITYOFHOPE.ORG

BUSINESS RESOURCES

Utilize Your Resources

to Build a Winning

BUSINESS

PLAN

From marketing to your audience, recruiting effectively and leveraging technology, there are several crucial facets to creating a successful business, not the least of which is utilizing the resources at your disposal to grow business accomplishments. As a real estate professional, you have to think outside the box in order to thrive in the competitive housing ecosystem. One of these innovative ideas is working with the government. As a real estate professional dealing with properties in your community and county, you may not think you are suited or qualified to work with the government, but you may be. From selling Department of Housing and Urban Development (HUD) homes to becoming an approved corporate vendor, the opportunities for real estate professionals are wide-ranging. Property management alone, an area in which most real estate agents are experienced, makes you a valuable candidate for these government agencies that often require help from businesses to take care of their wealth of properties from acquisition, disposition, build out and facility maintenance. How can you seize these business avenues? Preparation, knowledge, experience, superior service and with the help of the government itself.

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One of your resources is the Small Business Administration (SBA) and their extended family of free services to create or enhance your business to best service your clients. From writing a winning business plan to assisting your company in the federal arena, the SBA can prove a valuable partner on your road to success. The SBA’s SCORE is a national mentor network comprised of over 11,000 entrepreneurs, executives and business leaders who volunteer their time to mentor America’s small business owners. In SCORE, small businesses have the opportunity to receive advice directly from business owners with decades of experience who understand their struggle first-hand. The mission of the SBA’s Small Business Development Centers (SBDC) is “to build, sustain, and grow small businesses; promote small business development; and enhance local economies by creating businesses and fulfilling its mission of creating jobs.” There are over 900 SBDC locations across the U.S. that offer free one-on-one expert business counseling and lowcost training by experienced small business professionals. In a nationwide evaluation study, 80 percent of program participants responded that the SBDC’s business assistance was worthwhile.

BUSINESS RESOURCES Equally important to capitalizing with the tools at your disposal is doing the work. All the help and guidance in the world won’t be enough for your business if you do not prepare for success.

Make sure you have a strong business foundation from the start: • A product or service • A target market or audience • Clear objectives • A budget • Drive and determination

The

SBA’s SCORE is a national mentor network comprised of over 11,000 entrepreneurs, executives & business leaders who

volunteer their time

to mentor America’s small business If you do not have the work ethic or groundwork for your business, owners. the resources won’t have the power to make you an overnight success. If you have what it takes to become a successful entrepreneur, and all you need is a small boost or helping hand, your resources have the potential of being pivotal in your development as a prosperous businessperson.

sheCENTER ( FOLD )

CEO and President of Sigma Associates, LLC

REBECCA STEELE Rebecca Steele, an incredible courageous woman and mother, reveals her valuable lessons as a senior executive woman leader. From playing junior Olympics basketball to her excitement in advancing women’s inclusion, Steele shares her unique journey and what the future holds for her life and career. Interview by Desirée Patno

NAWRB: What have been the

proudest moments in your life, professionally and personally? Rebecca Steele: Well, I have a

lot of proud moments. I’ve had a lot of ups and downs in my career, but mostly ups. My proudest moments are when I could build successful organizations and was given the opportunity to lead, motivate and execute. A perfect example was the challenge to build, grow and integrate Countrywide and Bank of America’s retail sales platforms. That was huge! We did it in under 12 months. We fully integrated every sales site, corresponding sales documentation and the leadership team. We focused on the culture and realigned the management team to work in a effective manner. That was a fast paced assignment. We completed the integration quickly and fully executed through a high level of collaboration, exceptional communication, and by focusing on the business and metrics management. It was a challenging but fulfilling outcome. I think one of my proudest personal moments was completing college during my early career. I worked and paid my own way through college. I earned my MBA at night while working during the day and focused on what was going to make me a successful businesswoman in the future. I knew it was going to be really hard to get there, but I never gave up. I was determined and I succeeded. This was my introduction to independent decision-mak-

ing and my proof that I could set goals and accomplish them. Getting through that first five or six years and being successful showed me I have what it takes. I knew if I tackled other big challenges or opportunities in the same way, the sky was the limit. I am really proud of this, personally. I have had such a great opportunity to lead and show other women and diverse groups how to be successful and network. Being a role model has brought me a great deal of satisfaction. To this day, people will call me and say, “Hey, look, I have this situation with my boss,” or they’ll have a communication question or concern. I feel satisfied that I can help and give them advice. They often come back and say, “You know what, that advice was really helpful,” or, “I got that job and I really appreciate how you coached me.” As important as helping homeowners, doing a great job and being a great leader for businesses is helping other people reach their goals and objectives, and feeling like I really made a difference.

“...when I was found liable in my court case. That was the day that pretty much changed everything.”

NAWRB: Who has inspired you most throughout your life? Rebecca Steele: Picking one person is really hard because

I have a lot of role models. The truth be told, here is what I have secretly done with role models. I study people, such as the bosses that I work for, people that I work with and anyone I look up to. I always find things they do well and

NAWRB MAGAZINE |

SHECENTER(FOLD): REBECCA STEELE things that don’t align with me. I’ve taken several strengths from many people to help build my success. There have been people I have worked with who made me think, “This is how you build a team. This is how you inspire and motivate people.” That’s the art of running a business. The technical side comes from people who aren’t good at running businesses but are great at solving problems, getting the data together and analyzing it. Over the past 20 years, I have observed all these types of people and thought, “How do you pull that all together?”

“I love to travel & I like to just pick up & go.”

I’m a big believer that it is not just about being smart or being a subject matter expert in what you’re managing. It’s about the art in leadership, networking, communicating and overcoming political situations. When you start to combine these things, you’re perfecting the balance it takes to be successful. NAWRB: What if you had to pick one person? Rebecca Steele: I have to say my father influenced me

the most in the decision to get a great education. He was a chemical engineer at DuPont for almost his whole career. He worked really hard and put himself through school. His parents died when he was very young in high school. He was very independent and hardworking, worked for everything he ever had. I think I learned a lot of discipline from him that motivated me to reach higher, be better, set my goals really high, work towards them and not give up. My dad’s name is Floyd and he lives with my mom in Tyler, Texas. To this day he is so smart, always spending time thinking and reading. He’s led a great life and had a good career. I hope I can do the same. It’s harder to narrow down in my professional life. I really respect Sam Cooper, who I worked for during my first round at Chase. He was at JPMorgan Chase his whole career. He started out in a think tank and was super innovative and creative. Sam has the funniest personality in the world, and he could crack a joke better than anyone in an intense situation and sort of calm people down. On the flipside, he was really smart and I loved to watch him. He could work a room and get people to say yes. He

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Rebecca traveling with her daughter and her friend in Paris.

was very talented, and even though he’s retired from Chase he’s still as funny as ever. People who know Sam and have worked with him laugh every time I mention his name. He could make the tough decisions in the business’s best interest. He was very ethical and moral, and had really high standards for himself and everyone around him. I really appreciated that. Some people would ask, “How do we get around that?” He would say, “This is what we’re doing, this is how it’s going to be, and by the way, here is how we’re going to run that.” He took the tough decision-making out of it for us and led us through some very difficult situations. To this day, I think I still have a lot of work to do in that space. NAWRB: Congratulations on being cleared with prejudice

in the 2008 financial crisis. What is the most important lesson you learned from this process?

Rebecca Steele: That the truth is hard. It takes patience

and stamina to fight for yourself, for your reputation and for the truth. You cannot give up on that. One of the things I learned is it doesn’t matter the toll, personally and professionally, it is so very important to be true to your integrity and ethics. At the end of the day, that’s what you have. You have yourself. Regarding reputation, you can make bad decisions where you don’t fight for yourself, but you have to dig deep because 20 years later all you have is the truth and memories. Rebuilding your reputation is really hard. I felt that as hard as it was going to be to stand up and fight, there was never a question of whether or not I was going

SHECENTER(FOLD): REBECCA STEELE to do it. People ask me what I regret and wish I had done differently. I have to tell you that there’s not one day when I question myself because I knew the truth and I embraced it. If you can put that positive energy toward finding the truth and fighting for it, the negativity goes away over time. You must have a lot of stamina, patience, and you must be able to face the consequences of your decisions. I made my decision and stood by it. I fought hard and know it was the right thing for me to do. It might not be the right thing for everyone, but it was the right thing to do for my family and me. NAWRB: Having proved your innocence, what is next for

Rebecca Steele? What are you looking forward to most now that the case is over? Rebecca Steele: It’s continuing to challenge myself,

stretch myself in building and leading businesses that make a difference. I want to be a part of huge innovation, whether that’s for the mortgage industry, a different industry, housing in America, or helping women grow and learn. I think I will be involved in all of these areas. I want to make a difference.

pending professional goals you hope to achieve? Where do you see yourself 10 years from now? Rebecca Steele: It’s a whole new career for me. If I think

about it I took a step back, but it wasn’t really a step back. It was a change for me and now by embracing change I can control the outcome. It’s sort of a blessing. I have created new skills for myself that include taking on new and unfamiliar territory and leading through a successful outcome. When you work for big banks for years you get comfortable, and I tend to lose a little energy. I now have a lot of my energy back; I have my creativity and a lot of options. It’s so cool and I’m excited. It almost feels like the start of a new career. In 10 years, I see myself successfully managing a startup and helping other women be successful. Also, continuing to be excited about change, our industry and the opportunities. The fact that I can pull a lot of energy from my

What I am looking forward to the most? I think it’s being able to represent our industry and women with my head held high, and people respecting me as well as me respecting myself for being successful in a very challenging situation. Also, knowing I can take my energy now and put it toward more productive uses, rather than always thinking in the back of my head, “I have to continue fighting this.” Mental energy, I’ve found, gives you a lot of push and creativity. I feel 10 years younger now that this weight has been lifted and I can really contribute. I’m excited about this and working with really great people, building great teams and being successful together. NAWRB: You have had a very successful career

as an executive woman leader. What are some

“I earned my MBA at night while working during the day & focused on what was going to make me a successful businesswoman in the future. I knew it was going to be really hard to get there, but I never gave up.” NAWRB MAGAZINE |

SHECENTER(FOLD): REBECCA STEELE extensive experience in large and small companies, but also with the dynamics of leadership, courage and patience is incredible. To me, that brings a lot of power to the table that I’m excited to share. NAWRB: Do you have any hobbies? What is your favorite

way to spend your time when you’re outside of work?

Rebecca Steele: I like to work out. My latest workout is

spinning and cycling. I have just become addicted to spinning and think it’s a great exercise. I’ve met a lot of cool people and it’s been really fun for me. I like to cook, I really do. I also like to drink and study wine. If you ask my friends they’ll say, “Oh, she goes to every restaurant in Philadelphia.” I’m always trying different foods and wines. I’m a total foodie. I love Asian fusion and places with tapas. My plans on my bucket list are to travel. I love to travel and I like to just pick up and go.

makes both parties and the teamwork more successful. It is not about you; try to take yourself out as the focal point. It’s about helping influence others to be successful. I found that I was really bad at that, at letting go and understanding how to use and build teams. That’s one of the things I still work on. It not only makes you a better and more balanced person, it helps you gain a following and people who will be friends for life, individuals who you admire and admire you equally. It’s such an important dynamic to have. I think a lot of women, like me when I was starting out, struggle with this. I’ve learned to be more grounded and help people around me become more successful. NAWRB: What excites you most about your work as CEO

and President, Sigma Associates, LLC?

Rebecca Steele: I get to manage projects that are really

creative. We are doing special work that is helping special causes. We get to pick not only the work we do, but also with whom we work, and that’s just such a fantastic thing that doesn’t happen a lot.

“I am a big dreamer. I’ve always had these big goals for myself.”

NAWRB: Why is it necessary for women

to support one another? Do you think that gender-based barriers are still prevalent in today’s workplace?

Rebecca with her daughter and son.

NAWRB: What is the most trenchant piece of advice you

can give to other executive C-suite women in the competitive workplace?

Rebecca Steele: I would say be true to yourself. Challenge and surround yourself with people you trust. If you don’t have a couple of people with whom you can really discuss challenges and opportunities, honestly it’s really hard to change, adapt and grow. You really have to open up with people. You must be honest with yourself first and then you must be able to open up to some confidants that you can really trust. The other thing which I think is just as important is don’t think you have to do it by yourself. Surrounding yourself with people, giving people credit and pulling them up

| NAWRB MAGAZINE

Rebecca Steele: It’s essential that women support other women. There are not enough women working in management and C-levels in our industry. I find it challenging, even though I’ve done it for many years, to work with large groups of men. There are a ton of women who are smart, capable, and have the desire to move up, but they feel they don’t understand the path or don’t have the confidence. Companies are actually losing out on them. If you think about it, half of the mortgage industry is women. Women are in operations, sales, and the lower level. I feel that as you go up, there are less and less women. It was like this 10 or 15 years ago and it’s still the same today. It may be a little bit better but not a lot. I feel that the businesses are losing out and women are losing opportunities to be dynamic growth leaders and make a difference for themselves, their careers and the companies in our industry. We have a long way to go and I feel like in the past 10 years

SHECENTER(FOLD): REBECCA STEELE to be when you grew up? Do you still have a passion for that field? Rebecca Steele: The truth of the matter is I wanted to

be a biomedical engineer. I wanted to create artificial limbs and blood and I was just fascinated by that, which is really what led me into chemical engineering.

I like to read the news about what’s new and innovative, whether it’s pharmaceuticals or biotechnology; I’m fascinated by how far we’ve come. Technology like artificial hearts, limbs and fingers changes peoples’ lives. That’s really what I wanted to do with biomedical engineering, things that no one else could ever do to make peoples’ lives better. I think it’s about quality of life.

“It’s essential that women support other women.”

we’ve stood still in some ways. I feel that it’s unacceptable. It is not okay. A big turn off for me is when women don’t support other women. All of us have had help, assistance and mentoring. Whether it was a man or a woman helping us move forward and be successful. Giving back and paying it forward is just something that you do, and we should do it collectively. That means carving out time from your busy schedule to do these things. We must give back; it should be an obligation. NAWRB: You lived in New York for a few years during

My daughter has Type 1 diabetes and I’m a big fundraiser and donor. Last year I hosted the national leaders and doctors doing research worldwide for juvenile diabetes at my house.

They’re doing some really interesting research so I’ve turned my focus toward understanding it. There will be cures for diseases that are just not curable today, whether it’s cancer, Type 1 diabetes or others. It’s so important and fascinating to me. Mostly, I’m interested in making sure we can do the research, understanding how they’re using the money and spending their time coming up with cures.

your time at JPMorgan Chase. What do you miss the most about The Big Apple? What do you miss the least?

NAWRB: What is something most people don’t know

Rebecca Steele: I miss walking home from work the

Rebecca Steele: I learned how to shoot a gun when I was

The least fun thing was the rush on Fridays to get home because I would go back to New Jersey on Fridays and Saturdays. I don’t miss the rush to the train station or the heat in August. When I was in the city during the week I had a place on the Upper East Side. That was such a fabulous time.

The other thing people don’t know about me is I played junior Olympics basketball for the state of West Virginia. I had a ton of letters in high school and was really athletic. I loved that experience because it taught me a lot about people, myself and that environment.

most. I had this great walk from 70 Park Avenue up to the Upper East Side. I loved that walk. Every day I would decompress. My gym was on the way so I would stop there and then walk home. I love the city, walking, the people. It was just a really great time.

NAWRB: When you were a teenager, what did you want

about you that they would be surprised to find out?

six years old. I lived in Texas. We had guns and we learned how to shoot when we were really young. I haven’t done it in forever but I could probably pick it up again. To me it wasn’t strange; it was just what we did. Some people say, “That’s really weird!”

Maybe it’s surprising to people that for the longest time in my career early on I never really looked at my paycheck

NAWRB MAGAZINE |

SHECENTER(FOLD): REBECCA STEELE and I didn’t care about it. I just worked the work to succeed. When I was running the sales force I never set goals around compensation, ever. I think that would probably surprise some people. The other thing I would say is I am a big dreamer. I’ve always had these big goals for myself. I’d tell my friends and they would think I was nuts. I would tell them I didn’t know how, but it was possible. I’ve always had this attitude that I can do anything from a really young age. I never said no to things. I challenged myself in every single aspect, whether it was school, sports or anything. I did try just about anything. Even in college, I played softball and volleyball, and then I decided I was going to go out for the crew team. I was rowing crew in Philadelphia and I did that for three years. I didn’t even know how to row, but I figured it out and got good at it. I used to wake up at 4:30 in the morning and run to the boathouse. It was cold. By the time I got to my 8 o’clock class my hands were frozen. I had trouble holding a pencil. It was intense, challenging and an amazing experience.

This has taught me that I need to help other people through these type of situations. I can help! You might think, “Well, they’ve got lots of friends, they’ve got lots of family,” but when somebody goes through a unique situation like this it’s so stressful and unknown.

to change the course of our lives. Can you pinpoint one of these moments in your life? Did it seem significant at the time, or did you realize it’s meaning afterwards?

I feel that my situation was almost a blessing in disguise. I mean, it was really hard to go through but you have to look at the opportunities that came out of it. I feel I’ve become a better person and mother. I think I’ve learned an awful lot that I can now bring to the table.

Rebecca Steele: I would say when I was found liable in

NAWRB: Is there anything you would like to tell our read-

NAWRB: We all experience pivotal moments that go on

my court case. That was the day that pretty much changed everything. It was scary. I knew it was significant and that it would be in the media. I didn’t know the repercussions it would carry, in the short term especially. I had no idea how I was going to make it through. I felt I had lost control. One thing that’s really difficult and stressful with situations like that is not a lot of people come to you. More people go away from you than come to you to help. I found there were some key women and others who came forward and had been through very similar situations. They were able to help and talk to me about it. It helped me through the decision-making of what was coming in the next week, month and year. There were a couple of women in particular that I felt I needed to make it through.

Rebecca with her sisters.

| NAWRB MAGAZINE

ers or touch on that we have not addressed?

Rebecca Steele: I’d like to thank Desirée Patno, NAW-

RB CEO and President, for believing in me and giving me such a great opportunity to lead the Diversity and Inclusion Leadership Council. It’s such a great group of people. I feel that hasn’t just helped me in my recovery mode, but it’s also given me a lot more confidence. I’m excited about the moment, helping and mentoring more women and working toward the objective that we set in the diversity and inclusion council meetings. I’m looking forward to the next year, the growth and results with excitement. I want to thank you for that.

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BUSINESS INNOVATION Every entrepreneur knows age-old business advice— study your market, build relationships, know your competition, find a mentor, have a business plan—as well they should; it’s decisive advice that works. But what can you do when you have invested in these proven strategies for years, built your business on them, and suddenly plateau? Business strategists and other successful entrepreneurs can provide sage words, but you know your business best. If you’re employing a technique you innovated, you can beautifully separate yourself from the competition. In a blog post last year, Gary Vaynerchuk, “serial” entrepreneur, investor and public speaker stated, “Your 2016 plan should be to start paying attention to the white space; where are things not happening yet that you think could be huge?” This is the mindset needed to take your business to places it has never been; where are the empty spaces, the opportunities, in which your business can become a pioneer? How can you expand your book of business through innovation? For example, if you’re a real estate agent looking to do business with the abundance of international buyers in-

“Your 2016 plan should be to start paying attention to the white space; where are things not happening yet that you think could be huge?” -Gary Vaynerchuk

vesting in U.S. real estate, how do you advertise your business and gain access? If you are a luxury agent you have connections and can gain clients through word of mouth, but what if you don’t handle luxury real estate? After all, not all foreign buyers are ultra-high net worth (UHNW) individuals searching for million-dollar properties; many are simply looking for a stable market in which to invest and safeguard their wealth.

| NAWRB MAGAZINE

BUSINESS INNOVATION You need to be able to communicate across borders. Consider an industry conference about exporting and importing; why would an event like this interest you? A conference for exporters and importers would be filled with entrepreneurs from around the world conducting business across the country. These professionals—due to their frequent visits to the U.S.—could be looking for properties in which to invest their money, and may even be searching for homes to purchase and utilize while they are in the States. Conferences of this nature will also have country representatives, describing business trends in their country and the kinds of businesses they’re looking for. As a real estate agent looking to expand your business overseas, there are valuable connections and information to gain from attending. Is there a market overseas that contains active American buyers? Expanding your business to these countries would make you a valuable resource to these buyers seeking the familiarity of an American company.

business in and providing jobs within the U.S. International investment in American real estate is rampant, and housing trends are significantly impacted by the movement of these international entrepreneurs and buyers into the country. By advertising your business to this market of clients, you can expand your book of business and decisively remain abreast of the latest trends in their buying activity. Are they buying luxury estates, middle-market residences, homes to utilize as rental properties? Whatever the case may be, you will be the first to know new trends. As with any market—millennials, women, baby boomers, international buyers—there are opportunities and trends that are constantly changing the landscape. Innovate your business and carve out a new path if you want to thrive by taking your company to the next level.

Companies handling exporting and importing may also provide relocation services and seek experienced real estate agents for their clients. These are just some of the opportunities that can arise from pursuing business off the beaten path. Similarly, going to an international industry event would allow you to meet and extend your business to international buyers. You can learn how they are buying, where they are buying, and what kinds of properties they are looking for. This is how you can obtain leads and referrals; word of mouth travels fast, and helping one international client find a great property could propel you to an expanded book of business. It may seem counterintuitive, but attending a conference that isn’t necessarily about real estate can prove pivotal in helping you find real estate opportunities. Through the EB-5 Immigrant Investor Program, international entrepreneurs can obtain citizenship by doing

NAWRB MAGAZINE |

NAWRB Adds Three Great Women Leaders to Diversity & Inclusion Leadership Council

The National Association of Women in Real Estate Businesses (NAWRB) is proud to announce their newest Diversity and Inclusion Leadership Council (NDILC) members Min Alexander, Senior Vice President of Real Estate Services, Altisource; Tami Bonnell, CEO, EXIT Realty Corp. International; and Melanie Gass, Senior Partner Channel Marketing Manager SMB&D, US SMB Business Development, Microsoft.

NAWRB CEO and Founder, Desirée Patno, stated, “We are honored to add their extensive leadership and diversity experience to our council under the leadership of Chairwoman Rebecca Steele.”

As part of the NDILC, Alexander, Bonnell and Gass will advance the Council’s mission of raising the number of C-suite women, growing women’s employment at all levels and increasing diverse spend in the housing ecosystem. The NDILC is dedicated to bringing women’s diversity and inclusion to the forefront with accountability and results.

Having advocated for the Office of Minority and Women Inclusion (OMWI) since their inception in 2010, NAWRB travels across the country advocating for women in the housing ecosystem including at the recent White House United State of Women Summit.

| NAWRB MAGAZINE

Steele added, “Constant support of our diversity and inclusion goals is needed, and everyday actions can make a difference. Make inclusion a habit!”

NAWRB

Third-party Women-Owned Business Certification Specializing in the Housing Ecosystem

Four fundamental categories taking the mystery out of being certified.

1. Benefits of being certified: • Access to contracting opportunities specifically for Women-Owned Businesses • Connection to professional community of women and women business owners • Highlights your technical expertise and experience while providing exposure to the industry and validating your business • Certified businesses can tap into a multitude of public and private sector contracts and support client initiatives

2. Requirements for Certification: • The business must be 51 percent or more women-owned, controlled, operated and managed • The women business owner must be a U.S. citizen or legal resident alien • Technical expertise in the housing ecosystem

3. Process of Certification:

1. Application available online at NAWRB.com 2. Submit completed hard copy application with supporting documentation, sworn affidavit and application processing fee in a 3-ring binder 3. Review of application packet by certification staff 4. Follow up with applicant to obtain any additional materials necessary 5. Committee and Board Review 6. Certification can take up to 45 days upon complete application

4. Why Certify with NAWRB: NAWRB is the only third-party, industry-specific certifier of Women-Owned Business (WOB) and Minority Women-Owned Business (MWOB) certifications specializing in the housing ecosystem.

Take advantage of the benefits of being certified as a Women-Owned Business today. To obtain your application: visit www.NAWRB.com

800.337.3996

certification@NAWRB.com

ALTERNATIVE BUSINESS CREDIT It’s undeniable that women entrepreneurs hold tremendous potential for success and the American economy. Entrepreneurial women are starting over 1,100 businesses a day and women-owned businesses have increased 27.5 percent from just 2007 to 2012, currently numbering at 10 million, according to the Census Bureau. However, this tremendous growth is eclipsed by the dire conditions with which women-owned businesses are faced. Here are two stark truths: 91 percent of women-owned businesses have no employees other than the owner and 88 percent of women-owned firms do not surpass the $100,000 revenue threshold. The high majority of women-owned businesses are small businesses, and the U.S. Small Business Administration (SBA) Office of Advocacy reveals that of businesses started in 2014, a mere 9 percent survived until 2015. Compounded by the fact that women receive only 16 percent of conventional small business loans, 4.4 percent of the total dollar value of all small business loans, according to a 2014 Senate Committee report, this makes it extremely difficult for women entrepreneurs to make their businesses successes. Access to capital is a serious issue for women-owned businesses. The National Women’s Business Council (NWBC) reports: • Women start businesses with half as much capital as men ($75,000 vs. $135,000) • Women receive .1 percent of venture capital financing • Only 5.5 percent of women-owned businesses utilize business loans from banks to begin or acquire their business • 55.5 percent of women-owned businesses are launched through the use of personal savings Pervasive gender imbalances like these severely hinder the capabilities of women entrepreneurs. By raising women’s access to capital, women become increasingly equipped to enter the business arena with security and succeed.

NAWRB MAGAZINE |

ALTERNATIVE BUSINESS CREDIT Women’s progress has extensive effects and its ripples are evident in all generations, from college students to seasoned professionals. Women are advancing in their fields, increasing their wealth and simultaneously raising their capability to become homeowners. The significance of homeownership cannot be overstated. Owning a home means achieving the American dream and having a place to call your own; it builds wealth and secures your professional progress. For women, who face an imbalanced professional field and work hard for less money, becoming a homeowner is powerful. How can we level the playing field for women entrepreneurs? Women must be able to utilize personal successes profitably in the business arena. In situations when they are denied loans, women entrepreneurs should be able to leverage achievements, like their status as homeowners and wealth, to obtain much needed business loans. It’s all a cycle. The professional arena needs to be balanced so women are given equal opportunity to succeed. With success, women will be able to lead better lives through accomplishments such as homeownership, which will in turn beneficially poise women for business success. But what happens when successful women don’t appear to be so on paper? We have seen how lack of accountability has caused a downturn on the housing market, but little has been said about the effect the recession had on financing for small businesses. With the impact of losing home equity, and in a high number of cases the home entirely, small business owners were devastatingly impacted. Damaged credit has left hopeful homebuyers with bad FICO scores and business owners incapable of obtaining loans. Even though women are able to afford a home or repay a business loan, systematic roadblocks prevent them from being recognized as reliable consumers.

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The Federal Deposit Insurance Corporation (FDIC) reports that in 2013, 7.7 percent of American households (17 million adults) were unbanked and 20 percent (51 million adults) were underbanked. This amounts to almost 70 million Americans who do not have full access to credit. “We have millions of potential homebuyers, car buyers, and just plain consumers who do not qualify for financing or even credit cards because they don’t fit within traditional credit definitions,” stated Rick Sharga, executive vice president at Auction.com, about an alternative credit scoring system being developed by FICO. “Many of these individuals are perfectly good credit risks and have good incomes, but until this point they’ve been unable to get the benefit of their prompt payments and prudent financial management,” Sharga continued. “There’s an unfairness to this, which can be reduced with the use of alternative credit scoring, and today’s Big Data solutions make the data needed to create this scoring readily available.” A change needs to be made to inflexible, inaccurate practices used to determine if a person is qualified for a mortgage or loan. The significant limitations to which capable consumers are being subjected are unjust. Homebuyers and professionals should not be held back from experiencing important life transitions simply because an antiquated system determines their credit score is not good enough. Over the decades there have been many creative financing techniques, especially for residential purchases. Innovation in lending is needed now more than ever. Women must be given an equal chance to succeed, personally and professionally. Homeownership and professional success go hand in hand; when a score on a sheet of paper prevents women from achieving either, alternative methods should allow them to leverage one in order to achieve the other.

Golf

HEALTH WHAT WOMEN WANT

Helping you exercise focus and precision while strolling the great outdoors and breathing in fresh air, golf is a sport that is positive for the body and mind. Although it may seem leisurely, there are several aspects of playing a round of golf that make it a great way to stay fit. Walking an 18-hole course burns hundreds of calories, whether you’re carrying your own bag or using a caddy, and playing a round a couple of times a week is an ideal source of exercise. Regular golf players can improve muscle, raise endurance and lose weight. Golf also helps maintain friendships and develop new ones; and it’s a great way to form strong ties with your neighbors and community, helping you be more comfortable and happier with where you live.

Benefits: • • • • • • •

Reduces stress Stimulates blood flow Regulates sleep cycle Improves vision Stimulates the heart Strengthens the bladder Improves brain functions

NAWRB MAGAZINE |

Carrie Gendreau has been elected to the Board of Directors of Woodsville Guaranty Savings Bank and Guaranty Bancorp, Inc. Gendreau is the owner of the Training Connection, which provides professional leadership development and consulting for businesses throughout the region, and Emma and Co. Consignment Boutique in Littleton.

Sara Glines has been named Publisher of The News and Observer. She is the first female Publisher of The News and Observer and previously worked for the Gannett newspaper chain, where she served as President of the Atlantic Group, and President and Publisher of the York Daily Record.

Anne Ball has been appointed Interim Program Director of the Maine Development Foundation for its Maine Downtown Center. Ball has served as a consultant for the center since 2012, and has been an active participant in Healthy Maine Streets Program, Grants to Green, and Making Headway in Your Community.

Esther Morales

The Office of the Comptroller of the Currency (OCC) has announced Patricia Pointer as the agency’s Deputy Comptroller for Leadership, Executive and Organizational Development. Among her responsibilities, Pointer will serve as the executive responsible for the design, development, and implementation of agency-wide executive, leadership, and career development programs.

Esther Morales was named Executive Director of the National Women’s Business Council (NWBC). Morales has extensive experience working within the federal government and in advocacy positions. Most recently she served as the White House Liaison at the Environmental Protection Agency.

Jennifer Hogan

Patricia Pointer

Anne Ball

Sara Glines

Carrie Gendreau

SHE SHOWCASE

Community Credit Union has appointed Jennifer Hogan as President and CEO. Hogan previously worked for Community Credit Union for four years as Executive Vice President and served for five years as the Marketing Director.

| NAWRB MAGAZINE

Showcasing Women ‘On the Move’ in the

Carol Carlson Claudia Merkle

Cathy Liston has been appointed Vice President Claims, Group and Voluntary Insurance at Sun Life Financial. Most recently, Liston served as Vice President of group disability and life claims at Prudential Financial.

Christine Jenkinson

The National Mortgage Insurance Corporation, based in Emeryville, California, has named Claudia Merkle Chief Operating Officer. Merkle brings with her years of proven leadership abilities, which have played a significant role in National MI’s success.

Christine Jenkinson has been named President and CEO of Preservation Management, Inc. Jenkinson joined PMI in 2009, managing special assets for the President. She was promoted to Chief Operating Officer in 2010 and was named Senior Vice President in 2013. She has over 17 years of experience in the affordable housing industry.

Diane Conboy

Carol Carlson has been elected to the National Life Board of Directors. After 36 years, Carlson recently retired as a Partner of the accounting firm of Ernst & Young, LLP. She specialized in auditing and accounting in the insurance industry during her career.

Diane Conboy has been appointed to Vice President and Senior Relationship Manager for M&T Bank’s Central Jersey region. Conboy brings with her over 25 years of financial experience to her new role, and previously served as Senior Vice President and Team Leader for Provident Bank.

Jane Campbell

Housing Ecosystem

Cathy Liston

SHE SHOWCASE

Jane Campbell has joined Women Impacting Public Policy (WIPP) as its new President. Jane formerly served as the Staff Director for the United States Senate Small Business and Entrepreneurship Committee, and was the first woman Mayor of Cleveland.

NAWRB MAGAZINE |

Despite the pay gap, women are increasingly becoming financial powerhouses. Case in point: they now control 51 percent of American wealth, totaling some $14 trillion in assets. One of the ways they’re using those assets to their advantage? Home buying. According to the latest data from Ellie Mae, women are the primary borrowers on 32 percent of all closed mortgage loans. When women take the lead on a home loan, they’re single 61 percent of the time. Buying a home is tough enough with a spouse or a significant other, but it can be even more challenging when flying solo. To better help your clients who are first-time homebuyers, here are some of the most important things you need to keep in mind.

Assuming your client has an annual salary of $52,988, zero debt, and $40,000 for a down payment, they could theoretically afford a $245,900 home if they got a 30-year loan at a rate of 3.39 percent, according to Realtor.com’s home affordability calculator. Their payments would come to approximately $1,224, including the principal and interest, taxes, homeowners’ insurance and private mortgage insurance, leaving them with $3,192 a month to pay the rest of their bills, cover everyday expenses, and save.

One common pitfall many homebuyers often fall into is misjudging how much they can really afford to spend. For single women, that can be especially problematic because they rely on just one income, and it’s often lower than what men earn.

That seems like plenty of money, but it can go relatively quickly if homeownership results in higher utility costs, or they’re spending more on transportation because they have a longer commute to work. They also have to factor in the added expense of things like maintenance and home repairs, which could put even more of a strain on their financial resources.

The Bureau of Labor Statistics (BLS) puts the median weekly income for women who are working in full-time

In that scenario, something like saving for retirement could easily get pushed to the backburner. Considering

1. Affordability is about more than Purchase Price

management or professional positions at $1,019. That adds up to $52,988 annually, or $4,416 a month. By comparison, men make a median annual salary of $73,060.

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HOMEOWNER PITFALLS that women are more likely than men to retire poor, socking away money for retirement isn’t something your clients can afford to skip out on. Before your client makes a move on a home, make sure that it doesn’t come at the expense of their other financial goals.

’ Down Payment Matters 2. Your Clients

Putting 20 percent down on a home is the generally accepted industry standard, but it is possible to buy a home with less cash out of pocket. An FHA loan, for instance, will allow your client to put down as little as 3.5 percent. That’s tempting for a single woman who’s trying to keep short-term costs as low as possible, but it comes at a price. Taking on an FHA loan or a conventional loan with a down payment of less than 20 percent means paying private mortgage insurance (PMI), which drives up the cost of home buying.

appliances during the first few years of homeownership. Disability insurance allows them to keep up with their mortgage payments if they get sidelined by an illness or injury. Life insurance can wipe out their mortgage debt altogether if they pass away. Besides all that, single women should also have a sizable emergency fund. If they don’t have a home warranty or it runs out, having money on hand to deal with things like busted pipes or a leaky roof means that they don’t have to resort to putting them on credit. An emergency fund also comes in handy if they get laid off and it takes a few months to land another job.

4. Knowledge is Power

Nearly half of mortgage buyers don’t take the time to compare rates when getting a mortgage, and that can be a serious mistake for single women. A difference of even 0.25 percent in your client’s mortgage rate can translate to thousands of dollars more they’ll spend on interest over the life of the loan. Shopping around for the best mortgage rates is a must.

Let’s say your client has their eye on a $250,000 home, and they want to get a 30-year, fixed-rate loan at a rate of 3.39 percent. If they put 20 percent down, that eliminates the private mortgage insurance requirement and sets their payment at $1,139, which breaks down to $886 for the principal and interest, $63 for homeowners’ Taking on an expensive loan or coming to the closing tainsurance and $190 for property taxes. ble with a tiny down payment can influence your client’s financial outlook for years to come. On the other hand, if they only put 10 percent down, that adds $117 a month for private mortgage insur- 5. Good Fences Make Good Neighbors... or Do They? ance. The principal and interest part of their payment Moving somewhere means that your client is commitincreases to $997, so they’re now looking at a payment of ting themselves to being neighbors with the folks who $1,367 a month, including the PMI, property taxes and already live there. If your client is moving somewhere homeowners insurance. and still wants to maintain an active dating life close to home, make sure that they check out the city demoIf your client is a single woman who’s pulling in a mod- graphics to confirm this desire can be satisfied. est salary, a difference of more than $200 a month in the mortgage payment can have a significant impact on Another thing to check is your client’s immediate their bottom line. Saving up a larger down payment may neighboring properties: are the homes looking cared mean delaying your client’s home purchase, but they for? If the neighbor hasn’t bothered to replace a rotting will thank you if it allows them to shrink their monthly fence or paint the house in a long time, chances are that housing costs in the long term. this neighbor isn’t going to fix something that might be affecting your client’s property (like drainage, or that rot3. A Safety Net is Vital ting property line fence). If your client is single, the burden of making sure they’re financially protected sits squarely on their shoulders. BuyGinger Wilcox is the Chief Industry ing a home adds a new dimension to that responsibility. Officer of Sindeo. Single women need to be ready for the worst on multiple fronts. Buying a home warranty, for instance, can help with the cost of making certain repairs or replacing NAWRB MAGAZINE |

WHAT WOMEN WANT FASHION

PERSONAL INTERVIEW: KELLE NOLAN

Winner of 2016 CAR NAWRB Lottery

hat do you enjoy doing when you're out of the office and work isn't on your mind

What I most enjoy doing is spending time with my husband and our two dogs. We enjoy being outdoors and going for walks. I enjoy crafting, scrapbooking, and anything that has to do with being creative. These are the top things that I try to concentrate on when I’m trying to relax. I also like to read. In my crafting I concentrate on rubber-stamping and scrapbooking, paper crafting is how a lot of people refer to it. When I do read it’s usually about self-improvement or motivation. The book I’m currently reading is Be Obsessed Or Be Average by Grant Cardone.

2 3

What is something most people don’t know about you that they would be surprised to find out? I think people would be surprised to find out that I enjoy watching golf tournaments on TV. Most people find them very boring, but I actually like watching them.

Who is a role model of yours? Why do you look up to this person? Professionally I would have to say Jackie de Maria, a former employer of mine. She is definitely a professional role model, she demonstrated to me that a woman in a very high position within an organization that is male-dominated can have it all. Jackie balanced her professional career, home life, children, and was a strong, effective leader. She’s someone I look up to and had as a mentor early on in my career.

hat has been your proudest professional moment as a real estate agent

I’m newer to the industry, so I don’t necessarily have a lot of transactions. What I can say I’m proud of is being a good partner and resource for other realtors in our office. I have been able to help people get through difficult times; to me, this is what real estate is all about. The reason I chose a real estate career is that I have the opportunity every day to build relationships, and when you can build good relationships it allows you to make a difference in people’s lives. Making a difference in my fellow realtors’ lives has already had a significant impact on me.

What career would you have if you hadn't entered real estate? The immediate thought I had is to have an animal sanctuary, saving animals and being able to protect them; having as many animals as possible that need a home. I would love to have a facility or a ranch, which I still anticipate having, but you need the right property. Hopefully real estate will allow me to have that someday.

My hope is that a real estate career will not only allow me to make a difference in people’s lives, but ultimately allow me to have the means, property and ability to have an animal shelter where dogs, cats, horses and any other animals can have a home for the rest of their lives.

Kelle Nolan, Tarbell, Realtors NAWRB MAGAZINE |

In many ways, retention is the most crucial aspect when recruiting. The longer you can envision an employee at your company, the more valuable that candidate is. Methods for finding the right talent are various, and you must find the right one for your firm. In their Global Recruiting Trends 2016, LinkedIn Talent Solutions surveyed 3,894 talent acquisition decision makers on recruiting and retaining trends: • 39 percent of respondents identify quality of hire as the most valuable metric for performance • 26 percent view employee referral programs as a long-lasting practice • 32 percent responded that employee retention is a top priority for the next year • 59 percent of participants report increased investment in their employer brand than last year Cost is a huge factor in retention. The estimated cost of replacing an employee ranges from six to nine months of an employee’s salary, according to the Society for Human Resource Management (SHRM).

“ Times are changing,”

a phrase that has been uttered by countless people throughout time. In regards to recruiting and retention, what has changed is the workplace and work culture. The office isn’t what it used to be, and neither are professional relationships. A growing number of workers are reaping the benefits of technology and flexible work arrangements leading to being able to work from home or have a modified schedule. In today’s world, flexibility will help you retain talent. Ideologies are shifting and companies are learning the value of understanding and adapting to employees’ needs. One example is the ongoing family leave debate in which advocates are fighting for increased paid leave for mothers and fathers in the United States. Tech giants are leading the way, with Netflix allowing unlimited time off in the first year for salaried employees and Amazon offering 12 weeks. The Department of Labor (DOL) also recently raised the salary threshold for exempt employees from $23,660 to $47,476 annually for a full-year worker. The workplace is changing; companies that adapt swiftly will recruit talented employees and be successful in retaining them.

Recruiting & Retaining

The concept of recruiting well is complicated. It is important to know what you’re looking for and what your company needs.

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In the real estate brokerage community—where a majority of professionals are independent contractors and the employer-employee connection is less direct—referrals and respectable relationships take on especial significance. If brokerages hear you are a pleasure to work with, they will be more likely to pursue your services. Conversely, the better companies treat their contractors, the longer they will enjoy a working relationship.

“One example is the ongoing family leave debate in which advocates are fighting for increased paid leave for mothers and fathers in the United States.” Women-owned companies are often smaller and more nimble than other businesses, able to offer streamlined services when compared to larger firms; this is an advantage. The retention of women-owned businesses in housing is fundamental for companies seeking versatility, and the benefit of working with women-owned firms is an advantage women can utilize to make themselves invaluable. Discover the best way for your firm to find talent. Once you find the right workers, flexibility and understanding will help you keep them.

DIVERSITY CLASSIFICATION MATTERS

As a business owner, you’re always searching for new ways to develop your business. A new lead, a new client, a change in marketing strategy can all mean the difference between a period of growth and security or one of struggle and uncertainty. In our competitive business world, you must remain aware of all factors that can give your business a leg up on the competition. Business classifications and certifications are powerful tools through which to enhance your business’s performance and bottom-line profits. By certifying, you can give your business an advantage in the contract bidding process, maximize your appeal to companies with a strong corporate social responsibility, cement your presence in the diversity and inclusion (D&I) space and much more. The entities looking to do business with diverse firms are wide-ranging, from public utility companies and school districts to Local, State and Federal agencies. Your business’s expertise and service can get you through the door, but diversity certification will bring you there. With the establishment of the Office(s) of Minority and Women Inclusion (OMWI) by Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, federal agencies are responsible for practicing D&I in their employment activities and increasing supplier diversity by raising the utilization of diverse businesses in the procurement process. This means business and contracting opportunities for womenowned businesses, minority-owned businesses, service-disabled veteran-owned businesses, small businesses and more. These business avenues are great news for women-owned small businesses, which are prone to financial strain and disparity resulting from imbalanced contracting and funding options. • The Census Bureau estimates that 88 percent of women-owned businesses fall short of generating $100,000 in revenue • A 2014 Senate Committee report confirms that women are awarded only 16 percent of conventional small business loans, equivalent to a mere 4.4 percent of the total dollar value of all small business loans • The National Women’s Business Council (NWBC) reports that 91 percent of women-owned businesses employ no one other than the owner Although the process of implementing true diversity and inclusion in the American workplace has not been easy, progress is taking place. NAWRB MAGAZINE |

DIVERSITY CLASSIFICATION MATTERS • In March 2016, the Small Business Administration (SBA) announced that: - For the first time ever, the federal government exceeded its five percent women’s contracting goal, presently awarding 5.05 percent or $17.8 billion of federal small business contracts to women-owned small businesses - It achieved its 23 percent small business procurement goal for the third year in a row, awarding 25.75 percent ($90.7 billion) of federal contracts to small businesses and supporting 537,000 jobs in the process - Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) received 3.93 percent ($13.8 billion) of federal small business eligible contracts - Small Disadvantaged Businesses (SDB) were awarded 10.06 percent ($35.4 billion) of small business eligible contracts.

of diverse independent contractors from several industries. These entities possess contracts and set-asides for women-owned, women-owned small businesses and small businesses within several designations. With the ever-growing diversity and inclusion (D&I) movement, a rising number of agencies are dedicating themselves to increasing the utilization of small businesses in the contracting arena. As a real estate professional, you have to think outside the box in order to thrive in the competitive housing ecosystem. You may not think you are suited or qualified to work with the government, but you may be. From selling Department of Housing and Urban Development (HUD) homes to becoming an approved corporate vendor, the opportunities for real estate professionals are wide ranging. Property management alone, an area in which most real estate agents are experienced, makes you a valuable candidate for these government agencies that often require help from businesses to take care of their wealth of properties from acquisition, disposition, buildout and facility maintenance. How can you seize these business avenues? Preparation, knowledge, experience, superior service and with the help of the government itself.

• The Federal Deposit Insurance Corporation (FDIC) paid contractors $507.2 million in 2015, including $83.2 million paid to women-owned businesses (WOB) and $142.5 million paid to minority women-owned businesses (MWOB) • The FDIC awarded $858.4 million in contracts in 2015, of which $104.2 million went to women-owned businesses (WOB) and $211.6 to minority women-owned businesses (MWOB) • The Department of Housing and Urban Development (HUD) awarded over $360 million to women-owned small businesses Here’s the most important part: agencies and entities cannot utilize you based on your diversity if they do not know you exist. The importance and value of certifying your business cannot be overstated. As the data above elucidates, a variety of leading agencies, with enormous responsibilities and projects, beckon the assistance

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These opportunities for your diverse businesses, potentially worth millions of dollars, are pivotal. If you prepare yourself, you could be the next recipient of a million-dollar concrete. Certify your business today!

In October 2016, the U.S. Small Business Administration (SBA) issued a report, Measuring the Representation of Women and Minorities in the SBIC Program, revealing diversity-related trends in small business investing. In order to address the diversity of SBICs and portfolio company program participants, the SBA approached the Library of Congress’s Federal Research Division with the following inquiries: 1. How diverse are SBICs in terms of having women and/ or ethnic or racial minorities in leadership positions? 2. Are racially diverse SBICs more likely to invest in small businesses led or owned by women and/or ethnic or racial minorities?

Report Findings:

While there is greater gender diversity among the investment teams of SBICs than is present in the broader private equity investment community, it is difficult to make this comparison with regard to the racial diversity of SBICs because of a lack of data on minority participation in the overall private equity community.

5. Are diverse SBICs more likely to invest in low and moderate income (LMI) communities?

Researchers found that only 7.9 percent of firms in the venture capital and private equity (VCPE) sectors had female investment professionals while 11.9 percent of SBIC investment teams had women on their staffs. SBIC data also shows that 10.2 percent of SBICs had at least one ethnic or racial minority on their teams; but this data is not specifically collected in the private equity arena, which is a subset of the venture capital field. However, the report does feature a claim from the National Venture Capital Association (NVCA) stating, “The venture capital industry has not kept pace in investing in people of diverse backgrounds.”

As the study articulates, the SBIC Program “provides an alternative source of financing for high-risk small busi-

Racially diverse SBICs make more investments in minority-led and minority-owned portfolio companies,

3. Are gender-diverse SBICs more likely to invest in small businesses led or owned by women and/or ethnic or racial minorities? 4. How do SBICs led by women and/or ethnic or racial minorities compare in terms of investment performance to non-diverse SBICs?

nesses lacking access to adequate capital from traditional sources.” From the program’s creation in 1958 through December 2015, SBICs have provided $80.5 billion in capital into roughly 172, 800 investments, and remain a decisive tool for thousands of underserved entrepreneurs.

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SMALL BUSINESS INVESTING as well as in women-led and women-owned businesses than non-racially diverse SBICs. SBIC Program data from 2013-2015 reveals that approximately 12 percent of the investments made by racially diverse SBICs are in companies with minority CEOs, the analogous figure for SBICs without racially diverse investment teams is 5 percent. Furthermore, about 19 percent of racially diverse SBIC investments are in companies at least partly owned by women or ethnic or racial minorities, while SBICs without racial diversity only invested in these businesses 13 percent of the time.

“...1958 through December 2015, SBICs have provided $80.5 billion in capital into roughly 172, 800 investments, & remain a decisive tool for thousands of underserved entrepreneurs.” Gender-diverse SBICs make more investments in women-led and women-owned portfolio companies than non-gender-diverse SBICs. However, gender-diverse SBICs are not more likely to invest in minority-led or minority-owned businesses. Gender-diverse SBICs invest two to three times more in portfolio companies with a female CEO than male-only SBICs. The report articulates, “For example, among active licensees in the SBA’s debenture program, 10.3 percent of the investments made by gender-diverse SBICs are in female-led companies, while the corresponding figure for SBICs with no gender diversity is 3.35 percent.” A similar trend is present regarding investment in women-owned portfolio companies: among gender-diverse SBICs, 18.18 percent invest in women-owned portfolio companies while only 13.73 percent of male-only SBICs make such investments. There is no evidence suggesting that gender-diverse SBICs make more investments than non-gender diverse SBICs in portfolio companies with racially diverse leadership.

From 1995-2015, there is no evidence of performance differences between gender-diverse, racially diverse and white-male-only-managed SBIC funds. The report explains, “Even controlling for the fact that many racially or gender-diverse funds are smaller and have begun investing more recently, there appears to be no evidence that investors in such companies face different returns as a consequence of the SBICs directing investments toward either gender-diverse or racially diverse businesses.” There is some evidence that racially diverse SBICs direct more capital to LMI communities, whereas there is no evidence that gender-diverse SBICs do. Evidence demonstrates that racially diverse SBICs invest more in low- and moderate-income (LMI) communities than SBICs without racially diverse investment teams. Additionally, gender-diverse SBICs are statistically less likely to invest in LMI communities in comparison with male-only investment teams. These findings are a valuable resource depicting the position of women and minorities, and the financial consideration they are provided, within the Small Business Investment Company (SBIC) Program. Perhaps most influential is the fact that evidence depicts gender-diverse and racially diverse SBICs performing equally in comparison to white-male-only-managed SBICs, despite the two former being smaller and possessing less investment experience than the latter. Why does there remain a persistent difficulty in growing the utilization of women-owned, women-led, minority-led and minority-owned businesses in the SBIC Program and business world?

There is no evidence that gender-diverse or racially diverse SBICs perform better or worse than whitemale-only-managed SBICs.

NAWRB MAGAZINE |

WHAT WOMEN WANT REVIEWS

Read it She

by Michelle Latiolais

&Watch it

Modern Lovers by Emma Straub

Sweetbitter

by Stephanie Danler

A fifteen-year-old girl runs away to Los Angeles, in search of life beyond her strict upbringing. The journey allows her to meet Angelinos from all walks of life, and during it, she encounters the reality of living in the callous city of angels and among its eccentric characters. Latiolais presents her readers with a story of loss and the turbid search for identity, all along questioning what we seek and how we know when it is found.

Each person who experiences the process of growing older maneuvers it differently. Whether with ease or difficulty, this aging is perhaps most interesting when you have to bid farewell to youth and pass the torch to your own children. With former bandmates Elizabeth, Andrew and Zoe, Straub paints this intricate story and presents the unpredictable possibilities that come when your past intertwines with your future.

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Like countless others, Tess leaves her hometown seeking an exciting life in New York City. Quickly romanticized by the city, she pays her dues by working in a low-level position at one of the top New York restaurants. As she is awakened to the beauty of the culinary scene, Tess falls into an irresistible love triangle that will deliver as much hurt as affection. Detailing the hunger of youth and allure of a new city, Danler addresses the experience of life.

The Birth of a Nation

Starring Nate Parker, Gabrielle Union, Armie Hammer

The film centers on Nat Turner, an enslaved Baptist preacher living on a Virginia plantation owned by Samuel Turner. As rumors of an uprising start to spread, a cleric advises Samuel that Nate sermonize to other slaves, in an attempt to eradicate any ideas of a revolt. However, as he witnesses the treatment of those around him, Nate decides he can no longer sit idly by. On August 21, 1831, Turner spearheads a historic rebellion for freedom and justice in Southampton County.

The Girl on the Train

The Accountant

Starring Emily Blunt, Rebecca Ferguson, Haley Bennett

Christian Wolff (Affleck) is a math genius lacking the people skills to participate fully in society. Under the cover of a smalltown CPA office, Wolff makes his living as a forensic accountant for threatening criminal organizations. As Ray King (Simmons) nears ever closer to catching the mathematics savant, Wolff takes on a leading robotics company as a legitimate client. Wolff gets more than he bargained for in the process of seeming lawful, as the deaths relating to his new client begin rising.

Rachel Watson takes the same commuter train every morning to keep up the appearance of being employed. She spends the majority of the ride fantasizing about a young couple that lives down the street from her exhusband. One morning, Rachel sees something dreadful and reports it to the police. As she delves into a missing persons investigation, even the semblance of a life she once had is shattered and she wonders if everything leading up to this has been a terrible mistake.

Starring Ben Affleck, Anna Kendrick, J.K. Simmons

WHAT WOMEN WANT HEALTH

Even When an

have long-term health risks, and are also more susceptible to becoming obese again.

Obese Person

Loses Weight,

While we know that obesity results from a combination of genetic and environmental factors, what remains poorly understood are the molecular mechanisms contributing to obesity, or how molecules interact in our cells. In laboratory models, we previously demonstrated that a western diet high in fat and sugar causes epigenetic changes in the liver.

Health Problems Could Persist Due to Epigenetics by Letisia Marquez

When an obese person loses weight, he or she immediately starts to feel better. Blood pressure improves, cholesterol levels diminish and energy levels rise.

These epigenetic changes altered the way key genes functioned, and those changes increased the risks of developing fatty liver disease, diabetes and other disorders. We also found that some animal models were more susceptible to long-term health risks on that diet than others, indicating genetics are involved as well.

Because that person is no longer obese, the risk of developing type 2 diabetes, as well as liver, colon and breast cancers and other diseases linked to obesity, diminishes, right? That might not be the case.

What is the study’s main finding?

A new study by City of Hope researchers found that even after a low-fat diet is consumed, longterm disease risks could persist. The reason could be epigenetics, which refers to changes to genes caused by external factors, such as pesticides or nutrients, that don’t change the DNA sequence. However, these changes can be passed to the next generation, according to Dustin Schones, Ph.D., an assistant professor in the Department of Diabetes Complications and Metabolism within the Diabetes & Metabolism Research Institute at City of Hope. Schones’ obesity research was recently highlighted in the Journal of Biological Chemistry as a “Paper of the Week,” and in this interview, he discusses more about what the study revealed.

Why are you studying obesity? Worldwide obesity has doubled over the last several decades, leading to an overwhelming health crisis and a significant burden on our health care system. In addition to being a debilitating disease on its own, obesity is also a risk factor for cardiovascular disease, type 2 diabetes and liver, colon, breast and other cancers. Making matters worse, formerly obese individuals have increased risk for metabolic disorders, such as diabetes, later in life, even after lifestyle changes are made to manage obesity. This is reminiscent of the metabolic memory phenomenon, which refers to diabetic patients whose disease is under control but who are still at risk for long-term health problems. We think a similar phenomenon could be occurring in people who were once obese. There’s already evidence among these individuals that they

Building upon our previous work, we examined if a healthier diet – one with little fat and sugar – could reverse the epigenetic changes we observed in the liver and what impact that had on long-term health risks. This study demonstrated that certain animal models who were obese and then ate a low-fat-and low-sugar diet were still at a higher risk of developing metabolic disorders. Even though they were no longer obese, an unhealthy diet had caused irreversible epigenetic changes in the liver that we previously studied and the disease risks continued. But in other animal models, epigenetic changes did change back, health improved and the disease risks diminished. What this tells us is that once people with certain genetic makeup are obese – even if they lose weight – NAWRB MAGAZINE |

HEALTH WHAT WOMEN WANT

"A new study by City of Hope researchers found that even after a low-fat diet is consumed, long-term disease risks could persist." they could still face future health risks due to the epigenetic changes induced by obesity. So a person’s genetics could play a critical role in determining whether people who were once obese will always be at risk for long-term health problems.

What are next steps? City of Hope researchers are trying to understand how molecules interact to cause obesity and related health complications, including cancer and type 2 diabetes. Understanding these topics will help us in developing novel therapeutic targets for people who are obese and want to achieve a healthy weight and reduce risk of disease. One idea is to develop more personalized medicine for people who are obese, similar to what is being done now to target specific cancers and their genetic makeup. We’re also thinking about the obesity problem long-term – even if a patient is able to lose some weight, they could continue to be at risk for developing health problems, and that could be due to genetics. What might you say to people who are obese and think it’s not important to lose weight because genetics could still put them at risk for developing obesity-related diseases? Certain animal models in our studies had some long-term health risks due to obesity but it’s important to emphasize that others did not. Regardless, the health benefits of losing weight still outnumber those of being obese. There are immediate benefits such as better heart health, as well as lower cholesterol and blood pressure levels. Research reported in this publication was supported by National Institutes of Health under grant numbers K22HL101950, T32DK007571-24, 1K01DK104993, R01HL106089 and RO1DK065073, as well as Schaeffer Endowment funds. It included work performed in the Pathology and Integrative Genomics Cores of the City of Hope supported by grant number P30CA33572. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health. Reprinted with permission from City of Hope

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NETWORK

upcoming

EVENTS

September 17-20 The 2016 NAHREP National Convention & Latin Music Festival (Los Angeles, CA)

The 2016 National Convention & Latin Music Festival offers the wonderful blend of business tips, networking opportunities and cultural experiences, leaving attendees informed, reenergized and connected. This conference will treat you with an amazing line up of speakers, educational sessions, music performances and gourmet meals.

September 22-23 IMN: The Inaugural Residential Mortgage Notes, Non- & Re-Performing Loans Symposium (Santa Monica, CA) After touching on the notes area at their Single Family Rental Investment series of conferences, IMN is looking forward to entering the notes market and providing an institutional perspective to this fragmented sector. With deep dives into areas like Note buying, selling, financing and servicing, IMN’s experience and connections make the Inaugural Note Buyer Symposium an event you won’t want to miss.

September 27-29 2016 California Realtor Expo (Long Beach, CA)

EXPO 2016 will offer three days of interactive, engaging sessions. Tech Tuesday is back with hands-on sessions, user-generated segments and a wide-range of topics. A full-schedule of free sessions will be offered across all three days and the always-popular luncheon events offer variety to further educate, inspire and enhance your experience in Long Beach. Join NAWRB CEO Desirée Patno on Communication Across All Borders to grow your bottom line.

October 4-5 2016 Million Women Mentors Summit and Gala (Washington, D.C.)

The 2016 Million Women Mentors (MWM) Summit and Gala will work to advance the mission to support the engagement of one million Science, Technology, Engineering and Math (STEM) mentors, male and female, to increase the interest and confidence of girls and women to persist and succeed in STEM programs and careers. Be a part of this imperative movement for women and girls.

October 6 WIPP Annual Leadership Meeting (Washington, D.C.)

The Women Impacting Public Policy (WIPP) Annual Leadership Meeting will ensure policymakers, experts and the media hear directly from women business owners about what they need to thrive. This is an unprecedented opportunity for women entrepreneurs to learn about the election’s impact on their businesses and interact directly with those making the policy decisions that impact your bottom line.

October 21-23 2016 AREAA National Convention (Las Vegas, NV)

The 2016 AREAA National Convention will energize attendees with its sessions and opportunities, including Diversity Matters: How to Recruit a Diverse Staff with panelist NAWRB CEO Desirée Patno. Network and connect with industry leaders and professionals, discover cutting-edge technologies to meet your business needs and boost production, recharge your passion for real estate, enjoy powerful educational sessions featuring world-renowned speakers and learn about the largest marketplace catering to the AAPI market.

October 23-26 MBA Annual Convention & Expo (Boston, MA)

Whether you're an industry veteran looking to seal the deal or you're new to the industry and looking to get your foot in the door, MBA's Annual Convention & Expo provides the competitive advantage for the banking professionals. The agenda includes inspiring and executive sessions, educational breakout workshops, networking events, an exhibit hall with special events, and more.

October 23-26 2016 NMSDC Conference & Business Opportunity Exchange (Chicago, IL)

For four days, more than 6,000 corporate CEOs, procurement executives and supplier diversity professionals from the top multinational companies, as well as leading Asian, Black, Hispanic and Native American business owners and international organizations will convene in Chicago, Illinois, to re-energize their collective efforts to certify, develop, connect and advocate for solid minority firms in the global corporate supply chain.

October 30-November 1 AMERICATALYST 2016: Fast Forward (Austin, TX)

Renowned for the caliber of its exceptional content, what makes the AMERICATALYST event unique is the context in which we discuss how the industry is evolving, and more importantly, where the industry is heading next. That context is globalization, and its pervasive, irreversible, magnifying and accelerating forces, which have created a world increasingly beyond our control, and a world in which the greatest change is the pace of change.

November 16-17 MBA Summit on Diversity and Inclusion 2016 (Washington, D.C.)

MBA's Summit on Diversity and Inclusion unites leading experts for actionable discussions centered on diversity and inclusion. Register today to advance the dialogue and do your part. Join NAWRB CEO Desirée Patno on the Building a Corporate Diversity and Inclusion Program panel to discover the resources and best practices to increase your diversity and inclusion resulting in higher bottom-line profits.

NAWRB MAGAZINE |

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Think about your favorite products, your favorite cereal, chips or toothpaste. Whatever the merchandise, we all have preferred items that aren’t the most inexpensive or even “best” product on the market. This is because when we find something we like—because of the way it works, its appearance or a memory with which we associate it—we care little whether it’s economical or the superior product on the market. We buy it because we have a relationship with that brand. Open houses are meant to help sell a home by attracting agents and potential homebuyers. Therefore, the most important aspect of an open house is getting people to show up and look at the property. How can you attract the most people to the home? Brokers and agents have been perfecting methods for vibrant open houses for decades. Attractive signs, online listings, balloons and even chocolate chip cookies and lemonade are tools utilized to get people through the door. But what if these techniques don’t work? Nowadays, you can see everything you want about a listed property online. Virtual tours help you make a judgment on a home without ever leaving your living room. What is the use of good signs and delicious treats with the superb technology that lies at our fingertips? The first answer to this dilemma is that no matter how advanced technology becomes, it cannot replace human experience. Being inside a home and feeling it is different, and more impacting, than seeing it on a screen. You cannot sense a home’s character through a video.

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So, now that an agent or buyer has seen your property online and is interested, how do you get them there? They haven’t seen the home, they haven’t seen your signs, and they don’t know about your famous cookies. This is where the agent, marketing and reputation become the most important factors. How responsive is your team and with what do consumers associate your brand? Do buyers remember you as the helpful, courteous agent who answered all of their questions despite the fact that they were hesitant and never stopped by the property, or will they recall that you’re hard to deal with and didn’t return their calls? Authenticity, relationships and personal branding are number one. Above all, you need to be aware of how you present yourself and how you are perceived. This is why good, attentive, loyal customer service is the best practice in everything from listing presentations to open houses. The way you treat clients is the root of your business, and everything else stems from this source. If you are helpful and considerate, every aspect of your company—from your advertisements to your balloons—will be associated with this professionalism and clients will seek you out, regardless of your property being the most inexpensive or your listing photos the most attractive. Cookies will never do more for you than a respected reputation.