WHER Chat: Veteran-Owned & Women-Owned Businesses

WHER Chat: Veteran-Owned & Women-Owned Businesses

In honor of V-J Day, commemorating the end of World War II and the bravery of our veteran soldiers, NDILC member Erica Courtney, President of 2020vet and Zulu Time, U.S. Army Aviation, Major NATO Gender Advisor, highlights serious resource shortfalls for America’s women veterans face as entrepreneurs that the nation must be prepared to face in the near future in our 2020 NAWRB WHER, Volume III: Business Ownership.

Veteran women entrepreneurs possess traits that make them ideal business owners. Due to military training and knowledge, veterans are dependable, conditioned to make hard decisions, have integrity, take initiative and can adapt easily to challenging and evolving situations—all characteristics of a successful business owner. These women may see entrepreneurship as a means to prosper on their own terms by being their own boss.

This is a great time to be a woman veteran entrepreneur as we are the fastest-growing segment within the entrepreneurship community increasing by an astonishing 296 percent since 2007. Some of the reasons include a slight increase in women veterans; they are building businesses out of necessity; 40 percent of veterans are going into business for themselves as compared to the 10 percent Vietnam era entrepreneurs; more veterans have disability ratings than in wars past due to technology and better equipment; recent positive legislative changes; demand for third party corporate certification; and more available resources in terms of capital, education, and counseling.

It is important to note that despite the hurdles, veteran business owners have proven to be twice as successful in terms of revenue and business longevity, are twice as likely to hire other veterans, and contribute over $1.14T in sales receipts, $195B in annual payroll and employ over 5.03M employees. In 2012, veteran women-owned businesses were responsible for nearly 20 billion in receipts – an increase of 26.3 percent since 2007.

Veteran women continue to serve the United States by reinvesting and devoting themselves to the future, not through military service but through entrepreneurship. They are no stranger to hurdles and overcoming barriers as many dealt with this routinely while serving in a male-dominated profession. They are strong, smart, and driven, but we must understand specific challenges they face so we can help them be successful. 

Through entrepreneurship, many of the issues the community faces subside. Instead of masking the problem through medication prescribed at record rates, healthcare systems trying to keep up with a new demographic, and job placement programs in which the majority of veterans quit by year two, let’s put our efforts towards something that is working. It is not only a moral imperative that we take care of them but an economic one as well.

Find out more about NAWRB and how you can get involved and be a partner here!

About 2020 NAWRB WHER

The NAWRB Women Housing Ecosystem Report (WHER), our annual research report, provides the vision to revitalize communication and partnerships between industries as we work together to form mindful strategic solutions for social impact with a gender lens achievement. The 2020 NAWRB WHER includes the most diverse coverage of the Housing Ecosystem with almost eighty resources in six volumes: Diversity, Equity & Inclusion; Real Estate; Business Ownership; STEM; Access to Capital; and Aging Population. While waiting for the release of 2020 WHER, order a copy of the 2019 NAWRB WHER here!

 

WHER Chat: Imperatives of the Commercial Real Estate Industry During COVID-19

 

In 2020 NAWRB WHER, Volume II: Real Estate, we explore how the real estate industry is navigating COVID-19 challenges and utilizing technology as a solution. The industry must accomplish crucial initiatives during the pandemic to ensure the commercial real estate sector’s sustainability and reliability in the future.

1. Earning the respect, trust, and loyalty of customers and employees: In this time of uncertainty, leading operators are learning the importance of communicating to the point of overcommunication to make sure they are fully understanding and attending to their tenants’ needs at this moment and helping to protect everyone in their ecosystem. This may make communication as a company-level brand, rather than a property-level brand, more common, thereby speeding up an existing market trend.

In B2B environments, such as offices and retail stores, CEOs, and management teams are finding it helpful to asset managers and property managers by engaging directly with tenants. By interacting with the tenants directly, they not only address their needs more efficiently but also create a more trusting relationship with tenants who feel like they are being heard and valued.

2. Centralizing cash management: Prior to COVID-19, the McKinsey report notes that real estate was highly decentralized as important decisions regarding cash flow were made at the property level. However, due to the duration and depth of this crisis, which seems to have no end in sight in the United States, top management is now taking the initiative of centralized direction on property-level cash management in addition to company-level balance-sheet decisions and credit lines. As stated by the report, “All levels of management—including those at the property level and company level—are beginning to identify efficiency levers and when to pull them based on the underlying performance of properties and the business as a whole.”

3. Making tailored and informed decisions: Even within a single asset, needs will vary among tenants, particularly in commercial lease concessions. Real estate leaders are utilizing available behavioral data to generate fact-based insights that can help them make more informed decisions tailored to the needs of their diverse tenants (rather than a “one-size-fits-all” decision approach). They have data on local epidemiological and economic scenarios, competitive assets around a property, and the impact of the crisis on individual tenants.

4. Taking the digital leap: As we mentioned earlier, professionals in residential real estate have already taken the leap in digital sales and leasing processes, such as using virtual open houses and showings (sometimes augmented and virtual reality), as well omnichannel, targeted, and personalized sales. All of these tools are also available to the commercial real estate market in allowing their prospective tenants to find the right space for themselves.

5. Rethinking the future of real estate: Some landlords and lenders in the commercial real estate sector are looking ahead and preparing for how a business will change after the crisis is over. However, professionals are broadening their resources to include psychologists, sociologists, futurists, and technologists in addition to traditional economic or customer-survey-driven approaches. Some of the questions real estate professionals will have to ask include: “Will employees demand larger and more enclosed workspaces? Will people decide not to live in condominiums for fear of having to ride elevators?” By extending their research to include interdisciplinary resources and experts, business leaders will possibly find creative, informed solutions to these unprecedented challenges facing the industry.

About 2020 NAWRB WHER

The NAWRB Women Housing Ecosystem Report (WHER), our annual research report, provides the vision to revitalize communication and partnerships between industries as we work together to form mindful strategic solutions for social impact with a gender lens achievement. The 2020 NAWRB WHER includes the most diverse coverage of the Housing Ecosystem with almost eighty resources in six volumes: Diversity, Equity & Inclusion; Real Estate; Business Ownership; STEM; Access to Capital; and Aging Population. While waiting for the release of 2020 WHER, order a copy of the 2019 NAWRB WHER here!

Who is Freddie Mac Today?

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Often in the industry, when we think of the forty-eight-year-old Government Sponsored Entity The Federal Home Loan Mortgage Corporation, otherwise known as Freddie Mac, we think: “I’d love to be an REO broker with them” or “I’d love to be in a vendor relationship with them.” However, as we discovered in our “Who is Freddie Mac Today?” presentation, the GSE is way more than meets the eye, staying on the young side of forty-eight with an eye toward innovation and staying current.   Continue reading

One to Watch: ‘Crazy Rich Asians’ Showcases Diversity Within Asian Communities

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One has only to look at the AREAA (Asian Real Estate Association of America) 2017-18 report, State of Asia America, to see evidence of the strong diversity within the Asian American community. According to the report, the Asian American and Pacific Islander community is the fastest growing demographic in the United States, both in terms of natural born citizens and immigrants. Six ethnic groups within the Asian community number over one million each and over eight million people in the US speak either Chinese, Tagalog, Vietnamese, Korean or Hindi. These numbers are perhaps one reason the film Crazy Rich Asians coming to theaters this coming Wednesday, August 15th is generating tons of breathless excitement.

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Millennials Driving Real Estate Investment

Millennials are Driving the Trend in Real
Estate Investment

Many have been skeptical that Millennials are interested in homebuying, but various reports show Millennials’ growing interest in real estate investment. A RealtyShares report on Americans’ investment preferences indicates that 55 percent of Millennials are interested in real estate. This interest is mirrored in research from Fannie Mae that states 85 percent of Millennials see real estate as a good investment.

A recent Forbes article shows they are driving the trend of real estate investment and investing less in the stock market. A little over half of Americans were investing in the stock market last year, a decrease from almost two-thirds in 2007. In the report, Millennials were asked to choose the “best-performing investment since 2000.” While 40 percent reported uncertainty, 25 percent chose the stock market, and 20 percent of Millennials believed real estate performed the best since 2000.

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Desirée Patno, NAWRB CEO &
President, Named Top 4 Real
Estate Influencer to Follow

“I am honored and humbled to be Ranked #4 amid the Top 10 Real Estate Influencers to Follow from Entrepreneur.com. As NAWRB continues our mission to advance women’s diversity and inclusion in the housing ecosystem, I am energized by the depths of conversations we are having to drive women to the forefront with accountability and results. Finding passionate, committed strategic partners and individuals in moving the needle in the right direction for women to have a seat at the table for economic growth is a dream come true.” -Desirée Patno

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Women Entrepreneurs Make
Progress on the Policy Front

When I first began advocating for women entrepreneurs over 15 years ago, I was excited to take on the challenge. At that point the majority of meetings I went to on Capitol Hill consisted mostly of men, and no one was focusing on women business owners. For the first five years, I spent most of my time convincing the Congress that women business owners cared about economic issues that affected the growth of their business instead of the social issues “women” cared about. Not only was there a lack of understanding about women entrepreneurs, there was also a disparity between male-owned and women-owned businesses. The women’s business community’s favorite phrase was “we want a seat at the table.”

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NAWRB Nexus Conference

2017: Early Bird Special Ends
May 31, 2017

The NAWRB Conference is the nucleus, the center, and the source of business sustainability. As a non-partisan organization, NAWRB still has a seat at the table. Our relationships at the forefront allow us an inside look at government contracting forecasts. What opportunities does the future hold? Millions of dollars in procurement contracts and vendor relations were secured from connections made at the 2016 NAWRB Conference. Unlock your business growth!

Register Today!



NAWRB Roaring Thirty Award Nominations! DEADLINE May 31

The NAWRB Roaring Thirty Awards honor the women leaders in the housing ecosystem making a difference with a seat at the table for women. These are trailblazers succeeding through unprecedented obstacles and demonstrating women’s power as influencers in business.

Nominate Today!



In the News!

The Federal Government Achieves Small Business Procurement Contracting Goal for the 4th Consecutive Year
The federal government has reached its small business federal contracting goal for the 4th consecutive year, awarding 24.34% ($99.96 billion) in federal contract dollars to small businesses.

Census Bureau Highlights Travel Data
The U.S. Census Bureau released a series of travel-related products to highlight travel dataduring peak tourist seasons.



Upcoming Events

If an event involves women’s equality and supporting the women’s
movement, NAWRB strives to be there. Join us to take part in making
a better tomorrow!

May 25: InnovateHER Challenge 2017
NAWRB is excited to announce that we are once again co-sponsoring the InnovateHER Challenge 2017 with the U.S. Small Business Administration (SBA)! The InnovateHER competition aims at discovering women entrepreneurs with innovative ideas.

June 8: C.A.R. WomanUP! Conference
This one-day event dedicated to the empowerment of women will help you grow your business, develop your career and connect with other leaders in the California brokerage community.

June 8-9: IMN 2nd Annual Residential Mortgage Notes, Non- & Re-Performing Loans Symposium
With approximately $20 billion in non-performing loans already sold in 2016, the conference is well-timed for the industry to discuss the trading in the market.

June 20-21: MBA National Advocacy Conference 2017
The National Advocacy Conference is the largest advocacy event of the year focused solely on the issues facing real estate finance.

June 20-22: WBENC National Conference & Business Fair 2017
With three days of programming, the conference features lectures and presentations from today’s thought leaders, engaging panel discussions and more.

June 29: The Latino Coalition Economic Opportunity Summit
Guest speakers will delve into the most topical issues during a day that will cover TLC’s “four C’s” of business ownership: Capital, Capacity, Contracts and Cost.

July 16-19: NAWRB 4th Annual Conference, Women’s Collaboration for the Future
The NAWRB Annual Conference will highlight actionable solutions to increase women’s gender equality in the American workplace. The only way to beat the competition tomorrow is by preparing today. Register to take your business to new heights!

Add To Your Calendar


Diversity & Inclusion: Effects on Homebuyers

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Diversity and Inclusion (D&I) is receiving more attention in the business world, as a greater number of companies are increasing their efforts to include women and minorities in their workforce. A recent study, Women in the Workplace, conducted by LeanIn.org and McKinsey & Company reveals disappointing results; it shows that the American corporate world is nowhere near achieving gender equality. The study analyzed 118 companies, 30,000 employees, and reveals that over the past three years, there was only a meager increase of 0.9 percent in the number of C-Suite women; as the report asserts, at this rate it will take women at least 100 years to match men in similar roles, and at least 25 years to match men even in senior vice presidential positions.

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The Effect of Oil Prices on Real Estate

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As housing starts showing improvement, a new worry has crept in: can the dip in oil prices impact the recovering real estate market? At $30 per barrel, oil costs are the lowest they have been in almost 12 years and this could mean that gas prices will soon show a decline too, which will be favorable for millions of drivers across the nation. But is there a negative impact on the housing market?

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