First American to Host Real Estate Multicultural Marketing Conference

—June 1 Event to Help San Francisco Bay Area Real Estate Professionals ReachFast-Growing, Ethnically Diverse Communities—


May 25, 2006, SAN FRANCISCO

First American Title Insurance Company today announced that it will host The Changing Face of Homeownership: A Real Estate Multicultural Marketing Conference, an event intended to help educate real estate industry professionals on how to better serve the growing homeownership needs of San Francisco Bay Area African American, Asian American and Latino communities.  Among the distinguished speakers for the one-day event are Leon Panetta, founder of The Panetta Institute for Public Policy and a former White House chief of staff during the Clinton administration; and California Real Estate Commissioner Jeffrey M. Davi.  As keynote speaker, Panetta will discuss “Cultural Diversity and the American Dream.” 

The conference will take place on Thursday, June 1, 2006, from 8:30 a.m. to 2:30 p.m. at the Santa Clara Convention Center, 5001 Great America Parkway in Santa Clara, Calif. The conference will expand upon the successful 2005 Bay Area Latino Marketing Conference, once again focusing on servicing ethnically diverse communities by providing educational tools, demographic insights and networking opportunities for real estate professionals.  

“The face of homeownership continues to evolve, and nowhere is that more true than in the ethnically rich and diverse San Francisco Bay Area,” said Maria Valentin, regional diversity marketing director for First American Title. “This conference will promote understanding of the issues facing minority homebuyers in the region and position real estate professionals to more effectively meet market demand stemming from the largest potential growth sector for new homeownership.”

Since 2003, The First American Corporation and its subsidiary companies have led the settlement services industry in creating innovative programs to increase minority homeownership nationwide. For example, First American’s alternative credit solution, Anthem Score, makes it possible for a greater percentage of borrowers lacking traditional credit history—a common barrier to homebuying in under-served communities—to secure mortgage financing.  More than 100 lenders nationwide are now using the Anthem product. Locally, events such as the “Changing Face of Homeownership” conference are proving highly effective in bringing together industry leaders to improve the quality and availability of real estate services in multicultural communities.  These efforts have produced a notable increase in First American’s Bay Area title and escrow order volume. 

“Owning a home is a cornerstone of the American Dream,” said Jim Park, chief executive officer for the Asian Real Estate Association of America.  “For many Asian Americans and newly arrived immigrants, it is a positive step towards long-term financial health and the building of deep roots in this country.  By creating this educational forum for real estate professionals, First American is building the base of real estate and mortgage practitioners needed to extend this American Dream to traditionally under-served communities.”

U.S. minority buying power stands in excess of $1.9 trillion, and it’s projected that 60 percent of all first-time homebuyers will come from these communities during the next decade.  “These under-served communities represent the greatest go-forward opportunities for real estate professionals, as their homeownership rates still trail those of White Americans by roughly 25 percent,” said Valentin.  “Creating new homeowners within these segments has a tremendous, positive impact on how we embrace diversity in our local communities, as well as significant bottom line results for progressive real estate practitioners.” 

With expert speakers from the public and private sector, the conference is expected to double the number of attendees at First American’s 2005 Latino Marketing Conference to more than 600.  Real Estate professionals seeking insight, educational tools and practical knowledge for successfully serving multiple, ethnically diverse markets are encouraged to attend.  In addition to demographic and economic trends, scheduled sessions will cover topics such as recruiting and retaining diverse agents, providing prime rate loans for buyers with nontraditional credit, negotiating with multicultural buyers, and the negative impact and prevention of predatory lending practices.

Conference speakers will include:

  • Leon Panetta – former White House Chief of Staff and Founder of The Panetta Institute for Public Policy
  • Jeffery M. Davi – California Real Estate Commissioner
  • Vince Malta – 2006 President of the California Association of REALTORS® (C.A.R.)
  • Michael Lee – President of Ethno Connect and a renowned writer and presenter on multicultural topics            

Notable attendees will include:

  • L. J. Jennings – President, National Association of Real Estate Brokers, Sales Division
  • Frances Martinez Myers – Chairman, National Association of Hispanic Real Estate Professionals
  • Jim Park – Chief Executive Officer, Asian Real Estate Association of America
  • Clifford Turner – President of the National Association of Real Estate Brokers

Key supporting organizations include:  

  • Asian Real Estate Association of America (AREAA)
  • Chinese American Real Estate Association (CAREA)
  • California Association of Real Estate Brokers (CAREB)
  • Council of Indian American REALTORS (COIAR)
  • Chinese Real Estate Association of America (CREAA)
  • Filipino American Real Estate Professional Association (FAREPA)
  • Hispanic Association of Realtors and Affiliates (HARA)
  • Korean Association of Realtors and Lenders (KARL)
  • National Association of Hispanic Real Estate Professionals (NAHREP)
  • National Association of Real Estate Brokers (NAREB)
  • Vietnamese American Real Estate Professional Association (VAREPA)

The full conference agenda is available upon request.

First American Title Insurance Company, the largest subsidiary of The First American Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through more than 1,800 offices and an extensive network of agents throughout the United States and abroad. The company has its headquarters in Santa Ana, Calif. Information about The First American Corporation’s subsidiaries and an archive of its press releases can be found on the Internet at www.firstam.com.

 

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