On November 21, 2014, AREAA (Asian Real Estate Association of America) held an “Education Foundation and a Leadership Enhancement Program” at the Tower Club in Tysons Corner for more than 115 members of AREAA in the greater Washington DC area. Stone gate Mortgage, Citibank, Wells Fargo, and AREAA sponsored the event. Mark Grant, Vice President of Business Development of Citibank and Cynthia McGee, Vice President of Principal Relationship of Wells Fargo showed up to the event to show support. They are in charge of development in residential efforts. The event lasted the entire day, and finished with a reception.

AREAA focused on enhancing leadership qualities of realtors through the creation of “leadership brand and communicating with confidence.” Many of the attendees agreed that it would help them in all aspects of life, not just within client-realtor relationship. Tuyet Bui of Westgate Realty Group, Inc., stated that the leadership methods would effect how she handles day-to-day activities as well as her dealings with customers. Cuvator H. Armstrong of SILVA International Realty, explained that the event was opened to members of all race and culture, and that its openness was one of the best qualities of AREAA, as it welcomes anyone of all backgrounds to be a member.

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As Asian-American populations continue to grow in number and prominence in the area, it is becoming more important to understand the impact of culture on purchase behavior and its application in real estate purchase.

Linda Akutagawa, the President and CEO of Leap, Inc. (Leadership Education for Asian Pacifics, Inc.) was the presenter. She emphasized the importance of becoming aware of other cultures, understanding different values from these cultures, and bridging any possible gap results in allowing positive impact to surface, and bring about self awareness, allowing the individual to become a better leader. She stated from the analysis of demographic data, and current addresses of Asian-Americans and Pacific Islanders, that as of 2010, 4.7% of the US workforce were of Asian-American descent, and by 2018, this number is expected to increase to 5.6%. Asian-American buying power in the United States is expected to increase by 571.9% by 2015.

Asian-Americans and Pacific Islanders only made up about 2.66% of the total 1,213 board seats of Fortune 100 Corporations between 2011 and 2012. Around 31% of them are women. Furthermore, Asian-American and Pacific Islanders made up about 4.05% of the total 1,086 Board seats in top foundations, both profit and non-profit. This number is also expected to see an increase, however. This all translates to a broader profit and stronger buying power for the Asian-American sector, but it is important to understand that Asian-Americans and Pacific Islanders cannot be treated like a typical buyer group.

Because Asian-Americans and Pacific Islander group is one of the fastest growing workforce in the U.S., it is important to increase the leadership pool to contribute back to the community that created such success, whether it be time, talent, or even funds. By producing leaders, success can continuously be guaranteed.

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The leadership education and enhancement programs further focused on encouraging AREAA members to become more active leaders, and focused on making a difference, helping a cause important to them, strengthening the community, practicing leadership skills, networking, and promoting personal enrichment as community leader.

In a brief interview, Moon Y. Choi of REMAX Presidential, an AREAA DC Chapter member, explained that the event was a great learning opportunity that taught better customer service as well as a vision of leadership within the community.

Anne Thai of AREAA DC Chapter promised that more events such as the Leadership Conference is in plan.

Coreeilbo

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