Asian Real Estate Association of America (AREAA)

The Asian American and Pacific Islander (AAPI) community is the fastest growing racial demographic group in the United States, according the State of Asia America report produced by the Asian Real Estate Association of American (AREAA). In fact, it reports AAPIs will eventually become the largest minority group in the United States. Chicago represents a major hub, ranking as one of the top cities for relocation with nearly 3 million Asian Americans.

It is no surprise that AREAA represents a large network. It has grown to 17,000 members and 41 chapters across the United States and Canada. AREAA also represents an immensely diverse AAPI community, representing more than 50 ethnicities.

Eddie Garcia, NAHREP [6:50], Curtis Hunt, NAGLREP [17:12], Nykea Pippion McGriff, WCR [27:56], and Peter De Jong, AREAA [40:04] share their story of their organizations and how getting involved has helped shape leadership and business skills for a successful career in real estate.

While the AAPI community is rapidly growing, the AAPI homeownership rate still falls behind the U.S. Census national average of 64.8 percent.

U.S. Census third quarter homeownership rates:

• Non-Hispanic White: 73.4 percent 
• Asian American Pacific Islander (AAPI): 58.5 percent 
• Black: 42.7 percent 
• Hispanic: 47.8 percent 

What are the barriers to this gap? According to the State of Asia America report, lack of credit history and language access, discrimination, cultural differences and lack of education in the homebuying process contribute to the gap.

AREAA’s State of Asia America report came into existence after a major win for the organization’s “No Other” campaign in 2016. Led by a very familiar name to the Illinois REALTOR® community, Vicky Silvano, the 2016 national president of AREAA, the organization advocated successfully for the AAPI data to be included in the U.S. Census reports on homeownership on a quarterly basis.

“What it was about is getting statistics available so we that we can make decisions about services and programs more readily available or impactful,” says Peter De Jong of U.S. Bank in Chicago and upcoming AREAA President-elect.

He adds: “We use it to educate communities. We use it to help our members really become more connected.”

De Jong offers a unique perspective to real estate trade organizations and its members, coming from nearly 30 years in the mortgage industry. Working hand-in-hand with the real estate industry, his advice to those new agents is to avoid the transactional mindset and think relational.

“You can’t impact everything when you are starting in your career. You are trying to figure out your way,” says De Jong. “Still, whatever you do in the course of your day, impact it highly.”

He adds: “Usually that should focus on caring for people and liking people and if you do that really well and have this excitement, people want to be around you. They will then get to the point where they trust you. And they will do business with you.”

Learn more from Peter De Jong as he talks about AREAA with Jakeeva Lee, Illinois REALTORS® Industry Partners Liaison, and Brian Kwilosz of the Illinois REALTORS® YPN Advisory Board, in the latest YPN podcast “Expand Your Network with Industry Partners.”

AREAA At-a-Glance

Membership: 17,000+

Chapters: 41 chapters across the US and Canada, with one Illinois chapter in Greater Chicago

Mission: AREAA is dedicated to promoting sustainable homeownership opportunities in Asian American communities by creating a powerful national voice for housing and real estate professionals that serve this dynamic market.

Membership Fees:  $99

Established: 2003

Visit AREAA to learn more.

Watch for our final post in this Industry Partners series on the National Association of Real Estate Brokers.