April 21, 2016 // Franchising.com // Madison, N.J. - 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:
“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,” said 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% 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. Click here for the list of Realogy-affiliated presenters at this Summit event.
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.
Founded in 2003, the Asian Real Estate Association of America (AREAA) is a nonprofit trade organization dedicated to promoting homeownership within the Asian American and Pacific Islander (AAPI) community. With over 15,000 members in 35 chapters across the US and Canada, AREAA is the largest Asian organization in North America.
Realogy Holdings Corp. (NYSE: RLGY) is a global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby's International Realty® and ZipRealty®. Collectively, Realogy's franchise system members operate approximately 13,600 offices with more than 256,800 independent sales associates conducting business in 110 countries and territories around the world. NRT LLC, Realogy’s company-owned real estate brokerage, is the largest residential brokerage company in the United States, operates under several of Realogy’s brands and also provides related residential real estate services. The Company also owns Cartus, a prominent worldwide provider of relocation services to corporate and affinity clients, and Title Resource Group, a leading provider of title, settlement and underwriting services. Realogy is headquartered in Madison, New Jersey.
SOURCE Realogy Holdings Corp.