The importance of the growing Asian American demographic and their buying power represent significant business opportunities that Realogy and its affiliated residential and commercial brands are tapping into through global partnerships and local sponsorships. The Company’s long-term partnership with the Asian Real Estate Association of America (AREAA) has recently resulted in:
- More than 20 real estate professionals affiliated with Realogy and its brands served as speakers, panelists, presenters, and sponsors at the AREAA 2016 Global & Luxury Summit in Honolulu, Hawaii on April 3-4
- An affiliate sponsorship and executive speaker placements at the 1st Annual New Jersey Real Estate Summit, “Financial, Cultural & Social Impact of Asia Capital on New Jersey Real Estate” in Jersey City, New Jersey on April 14-15
- Realogy’s local sponsorship of the Asian American Heritage Festival in Edison, New Jersey to take place on May 15
“We are proud of the level of engagement that our brands and their franchise members have exhibited in leadership roles at the global, national and local level with AREAA as well as their leadership in sharing their expertise at these industry events,” says Alex Perriello, president and chief executive officer of the Realogy Franchise Group. “Through collaboration with AREAA, we have been able to foster business connections with our international master franchise owners and domestic affiliated brokers and agents that have helped them strengthen their business strategies to better serve the needs of this growing market segment.”
In the United States, it is estimated that 1.8 million more Asian households will be formed by 2024, according to data found in the 2015 State of Asia America report. The report also shows that Asian Americans have the highest median household income of any racial group, and are 30 percent more likely to invest in real estate beyond their primary residence – primarily in office, hotel and retail spaces.
Realogy is known globally in the real estate industry for its partnerships with diverse industry associations, and its relationship with the Asian Real Estate Association of America is among its longest standing. Members of Realogy and its brands have served as co-chairs, speakers, panelists, and moderators at AREAA’s conventions on a regular basis to share their insights, network with real estate professionals across the globe, and strengthen its brand networks’ connections to better reach out to this community.
At the recent 2016 AREAA Global & Luxury Summit, Rick Davidson, president and CEO of Century 21 Real Estate LLC, was the co-chair of the event, and Vicky Silvano of Century 21 S.G.R., Inc., in Chicago, is current national chair of AREAA. Sherry Chris, president and CEO, Better Homes and Gardens Real Estate LLC, participated in the Summit’s closing general session speaking to luxury and international trends, while Tim Hur, business consultant at Better Homes and Gardens Real Estate LLC and AREAA national committee member shared the stage at the Summit’s keynote luncheon. Craig Hogan, vice president of luxury marketing for Coldwell Banker Real Estate LLC is the chair of the 2016 AREAA National Luxury Committee, and Coldwell Banker was the sponsor of the Luau at the event. Coldwell Banker had numerous speakers at the event as did Sotheby’s International Realty Affiliates LLC. ERA is the corporate partner of the EDGE, the AREAA young leaders’ network, and their sponsorship helps them create professional development materials for EDGE members.
At the 1st Annual New Jersey Real Estate Summit, Philip White, president and CEO of Sotheby’s International Realty Affiliates LLC, and Sherry Chris were speakers discussing the luxury real estate market. The event was co-presented by AREAA of Northern New Jersey and Prominent Properties Sotheby’s International Realty, whose owner Charles Oppler co-chaired the event along with Meiling Lee, co-founder of Northern New Jersey Chapter of AREAA.