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I had the pleasure of interviewing Lori Namazi, Brokerage Risk Management & Operations Consultant of Lori Namazi Real Estate, for the latest NAWRB sheCall: Operations of a Brokerage—Risk Management, on April 18th. In our discussion, Lori reveals how her work focuses on a neglected niche in the real estate industry that deserves our attention.
Lori is an accomplished real estate professional and entrepreneur. Having served in the industry for 16 years, she has been an active REALTORⓇ and corporate executive, including the designated Broker of Record for a large, independent firm in Southern California. She recently left the firm to build her own company specializing in Brokerage Operations and Risk Management services.
Her mission is to increase industry professionalism and to be a valued resource to brokers needing education and solutions to fulfill their supervision requirements. She offers a full-range of services in the areas of Licensing, Transactional Support, Advertising Compliance, Office Operations and is available to be on retainer for broker questions and guidance.
Serving as Broker, Lori was extremely hands on in the development, execution and refinement of all of the policies, procedures, requirements spanning 10 years and affecting over 100,000 transactions.
Lori founded her company to solve a huge hole in the industry. She shares lesser known facts about California realtors and brokerages:
- Over 85 percent of the brokerages in the state of California have 5 or less agents
- Of the 400,000 licensees in the state of California, only 125,000 are REALTORSⓇ
With only 5 employees or less, it’s apparent a majority of licensees don’t get proper training or stay current on laws, regulations or compliance requirements, including consumer protection. What is even more troubling, as Lori shares, is that some of these agents may not know they are uninformed.
Oversight in laws and compliance requirements can have devastating consequences for prospective homebuyers and consumers. Homeownership is a tried-and-true means of wealth-building, especially for single women and mothers who are positioning themselves to build their financial independence, raise their children in a stable home, and lift themselves above the poverty level.
It’s important that organizations assist real estate professionals in educating them about relevant laws and requirements, and helping them be accountable for their responsibilities as agents and brokerage owners.
“I’m passionate for this business and for the people and the processes that make it all come together,” Lori stated. “Finding efficiencies and keeping things organized and compliant is my specialty. Couple in risk management programs and problem-solving strategies and my compliance nerdiness comes out full force.”
We would like to thank you Lori for participating in our NAWRB sheCall and bringing our attention to an important issue in the housing and real estate ecosystem. She reminds us that agents and brokerages thrive by taking it upon themselves to help their clients succeed in achieving homeownership and financial independence.
This is not just a real estate issue; it’s a concern for the entire housing ecosystem. To learn more about the connection between real estate brokerages and women’s homeownership and poverty, read our recent NAWRB Spring 2018 Women in the Housing Ecosystem Report here.
Listen to the sheCall here, and watch a sneak peak of my conversation with Lori at the NAWRB main office below.
Desiree Patno
CEO & President
NAWRB