Depending on the nature of the business, there are several types of certifications available today. Common certifications include: minority business enterprise (MBE); women business enterprise (WBE); disadvantaged business enterprise (DBE); SBA 8(a); HUBzone; veteran-owned small business (VOSB); service disabled veteran-owned small business (SDVOSB); women-owned small business (WOSB); business enterprises-owned by people with disabilities (BEPD) and “small business.”
While each certification has different criteria, there are similar criteria for many. For instance, all companies must be at least 51-percent owned by a person or a group claiming the certification status.1 The 51-percent owner must have unfettered control of the company. For federal and DBE certifications, the company must be a “small business” as determined by the Small Business Administration (SBA). A federal SDVOSB requires the business be “small,” at least 51 percent owned and operated by one or more service-disabled veterans whose management and daily business operations are controlled by service-disabled veterans, and the disability be service connected. While a HUBzoned firm must also be “small,” the criteria includes the location of the business and home addresses of the firm’s employees. State corporate laws and licensing laws are also criteria used to review applications for certification. There are special criteria that must be met depending on the certification type. For instance, while a 51- percent owner must have a personal net worth under $750,000 for DBE certification, the SBA 8(a) certification requires that the 51-percent owner have a personal net worth under $250,000.
Federal, state and local government agencies also have different gross business receipts criteria for determining small business certification eligibility.More information for your convenience:
For more information on diversity designations and certifications, visit the following websites:
NOTES: Links to third-party sites are provided for your convenience. Such sites are not within our control and may not follow the same privacy, security, or accessibility standards as ours. Therefore, NRBA is not responsible for the security, content or availability of third-party sites, their partners, or advertisers.
"Why is Robert Smith-Adams and The Adams Family Real Estate Services, Inc. the best choice for managing your REO? Simple: They have merged the REO management mindset with retail real estate marketing to produce a smooth REO transaction with the highest recovery rate possible.”
Robert specializes in complex real estate investment advisory (loss mitigation) and pre and post foreclosure real estate sales and management.
Robert Smith-Adams has worked for many years as a top producing REO broker in Southern California as well as assisted in asset management for his bank & hedge fund clientele. His experience in working in complex & default real estate has given him the accolades and education to become a valuation’s expert in his field. Robert’s valuation of real property will come within 1-2% of an appraiser’s final valuation providing his clients with assurance in their buying or selling decisions of any real property or note purchases.
Robert spent several years traveling nationally to coach default real estate professionals as a Platinum Coach with Craig Proctor. Additionally, he is the current Head of the Master Brokers, and was the former Pacific-West Region Master Broker (California & Hawaii) for the well-recognized and acclaimed NRBA, National REO Broker’s Association.
Robert’s past careers in law enforcement and ultra-luxury pool construction have proven to be invaluable in REO management. These acquired skill sets have aided in his REO practice due to his vast knowledge of local laws and ordinances, his commanding presence, ability to negotiate with combative holdover tenants/defaulted borrowers, his proper training protocols to quickly secure vacant properties, and his ongoing experience to minimize vandalization or crime.
Years of working with high profile clientele in the luxury pool business has provided Robert with unsurpassed luxury market knowledge and access to some of the most elite, private, & guard gated residential communities in Southern California.
Robert works alongside his wife, Angela Adams who has held real estate licenses in multi-states since 2006 and is a practicing interior designer. With over 15 years’ experience in interior design for new home developers and real estate investors, Angela’s unique experience and skillsets are heavily utilized in REO marketing, management, & sales.
As a practicing interior designer, Angela selects the interior design finishes for any repaired property marketing strategies. She ensures the selections are trending and most desirable to prospective buyers. She knows how to stretch a budget and focuses on repair items that will create the most impact. Her experience in contractor bidding, project management, and building codes ensures repair bids, job sites, and contractor workmanship will be properly supervised. Her experience in working with high end properties and clientele is invaluable for luxury REO. Angela intimately understands the finishes and mechanics of ultra-luxury properties and knows how to properly repair and present the asset to a luxury buyer. Lastly, her professional design knowledge is applied to various exit marketing strategies to provide prospective buyers with a clear vision on what the asset can “become”. This type of visionary marketing mitigates the consumers' negative perceptions about REO and attracts more retail centric buyers which increases the clients’ ROI.
Robert has a passion for providing exceptional professionalism and service to his trusted clientele. Robert assists his corporate and investor clients with their NPL’s, REO’s, BPO’s, rental portfolios, acquisition, & loss mitigation. Robert takes great care and concern with his clients’ assets and can effectively create multiple, unique dissolution or acquisition solutions for their portfolios.
In his free time, Robert’s hobbies include traveling with his wife Angela and their beloved Cavalier King Charles Spaniels/Yorkie dogs, creating fun dishes in the kitchen, and watching live music with her and their close friends. Robert’s all-time love is fire engines, aviation, and The Blue Angels. Robert has a private pilot’s license and enjoys flying small craft airplanes and studying the business and art of all things aviation.