Continuing our new HW+ member spotlight series, we’re featuring Lisa Dunn, partner/owner at LAUREL Real Estate Resources. She specializes in residential real estate throughout Orange County, California, and is currently celebrating over 25 years as a top producing Realtor.
Below, Dunn answers questions about the industry:
HousingWire: To start off, what is your current favorite HW+ article?
Lisa Dunn: I never miss whatever Logan Mohtashami has to say about the current housing market. He always has an interesting, possibly controversial take and is (usually) 100% correct!
HousingWire: What is the best piece of advice you have ever received?
Lisa Dunn: “If you don’t ask, you don’t get,” as stated by a 7-year-old cookie-selling Girl Scout, who was the daughter of one of my first real estate clients. Truly words to live by, in both real estate and life.
HousingWire: What are 2-3 trends that you are closely watching?
Lisa Dunn: There are numerous things going on that could have a major effect on the residential real estate industry. First, since I am currently a member of the board of directors for the National Association of Realtors, it would be the battle between the DOJ and NAR.
A trade association with voluntary membership that enables a single broker shop to compete on equal footing with large corporate brokerages being considered a threatening monopoly is lost on me. This is something that I really appreciate HW’s coverage on.
The second would be the PRO act, which threatens independent contractor status. It is still making its way through congress. How many brokerages would keep hundreds of non-producing agents on as employees? If real estate agents lose their independent contractor status, this could end the traditional brokerage model as we know it, which may or may not be a good thing.
Third would be large iBuyer entities paying overinflated prices to sellers to gain market share. I think in a tight market where increases in home prices are already at an unhealthy rate, this could make things worse.
HousingWire: Lastly, If you could change or implement one piece of housing regulation, what would it be and why?
Lisa Dunn: I would completely do away with the VA Condo Project Approval and let veterans purchase condos without restriction. The VA database has severe data integrity issues, making much of the information difficult, if not impossible, to end. Because of this, both Realtors and many lenders may be misinforming veterans as to what condos they can and can not purchase.
Since the approval is lifetime and not based on HOA financials but based upon the CC&R’s, there is no real reason to require this. Nor is it required that an HOA board even consider getting a VA condo project approved, if it currently isn’t. Our veterans deserve the opportunity to purchase any home, whether it is a condo or single-family residence, that meets the minimum property requirements.
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