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Asian Real Estate Association of America Announces Top Producers

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Asian Real Estate Association of America Announces Top Producers

The annual "A-List" showcases the association's top producers in real estate and lending

PR Newswire

SAN DIEGO, Aug. 14, 2018 /PRNewswire/ -- The Asian Real Estate Association of America (AREAA) released its annual "A-List" of their top producing individual agents, real estate teams, and mortgage originators in terms of both total dollar volume of sales or funding, and total number of transactions.

(PRNewsfoto/AREAA)

For the Real Estate A-List, presented by Bank of America, the top 50 individual agents and the top 10 real estate teams were selected from hundreds of submitted applications. The top 50 individual agents combined to sell 3,355 homes for $2,156,563,909, for an average of 67 homes and $43,131,278 per agent. California and Hawaii led the way for states with the greatest representation on the list, with 16 and 11 of the top 50 respectively. The top 10 real estate teams sold 3277 homes totaling $2,090,053,190 – an average of 328 homes for $209,005,319 per team.

For the Mortgage Originator A-List, presented by Radian, the top 20 producers in terms of volume funded and transactions funded were selected. The winners combined to fund 3,826 transactions for a total of $2,036,402,844.52 – for an average of 182 transactions for $101,820,142.23 per mortgage officer.

Since 2010, AAPI have been the most active minority participant in the mortgage market, both in terms of total number of applications and total amount originated. AAPIs have the highest income and education rates in the nation, and typically have high credit scores and low debt-to-income and loan-to-value ratios, making the group well-positioned to be homeowners. Despite this, according to the U.S. Census Bureau's Quarterly Residential Vacancies and Homeownership Report for the second quarter of 2018, AAPI homeownership still lags behind the national average 58% (up from 57.3% in the previous quarter) to 64.3%, and even further behind non-Hispanic whites at 72.9%.

To view both lists in their entirety, please visit www.areaa.org/alist.

Founded in 2003, the Asian Real Estate Association of America (AREAA) is a national professional trade organization dedicated to promoting sustainable homeownership opportunities in the Asian American and Pacific Islander community by creating a powerful national voice for the housing and real estate professionals who serve this dynamic market. With over 17,000 members in 39 chapters, AREAA is one of the largest AAPI trade organizations in North America.

Media Contact:
SCOTT BERMAN, Communications
619-794-2016

 

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SOURCE AREAA

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