Senior Project Reflection

(1) Positive Statement

What I am most proud of in my 2-Hour Presentation is the fact that I made time because I was really struggling to make time while rehearsing my 2-Hour. Also something worth mentioning is, the comments I received from my fellow classmates in regards to my 2-Hour, the constructive criticism and the positive comments. As for my senior project, I am overall most proud of the communication skills that I have gained and will surely continue to use.   

(2) Questions to Consider

a.     What assessment would you give yourself on your 2-Hour Presentation? AP

b.     What assessment would you give yourself on your overall senior project?   AP

(3) What worked?

In the senior project what worked for me the most was the fact that I had a somewhat stable mentor throughout the entire project. There were some obstacles to overcome but in the end they worked out. My mentor, Rosario Lopez, has guided my and  through talking with her helped me more than any of my research.  

(4) What didn't work?

In the senior project, if I could go back and change the outcome. It would be the fact that I speak up and talk more, because so many opportunities passed me by that I could have taken advantage of but didn't because I didn't talk to classmates. For example, many of them had family relatives that I could have interviewed or talked to give me a new perspective on real estate.    

(5) Finding Value

Something I will definitely carry on with well after the senior project is the communication skills that I have learned and have been able to implement throughout my project. Something else that I will also hold is the sense of financial accountability that I gave gained through my senior project.   

Mentorship

    Literal

      Log

     Contact:  Rosario Lopez

      Cell (626) 390-7476

    Interpretive

     

     The most important thing I've gained from this experience is an understanding of the real  estate business. For example, I know most to all of the documents involved in a real estate transaction and I'm able to file and organize them so the transaction goes smoothly. Also how to deal with a client that has unfortunately lost their property and how to deal with a client looking to buy a property. I used to think that a realtor didn't need to invest most of their time at their office but they need to in order to remain profitable.    

   Applied

     My mentorship has helped me answer my essential question by narrowing my focus and by also giving me a few rough answers to my essential question. First off, my mentorship experience gave me a focus on the client and their needs. The clients' needs have to be satisfied in order to keep business moving, especially during an economic recession.     

Exit Interview Questions

1. What is your essential question?  What is the best answer to your question and why?

My essential question is "What is most essential in maintaining a profitable real estate business in an economic recession?" For my essential question a real estate business is defined as the dealing in land that is permanent, immovable and that has exclusive rights granted to the land itself. The other term for my essential question that must be defined is recession which is defined as three consecutive quarters of negative economic output. The best answer to my essential question is to become part of a professional real estate association or firm, such as the NRA (National Realtors Association), MBA (Mortgage Bankers Association), Century 21, RE/MAX, or Prudential. If marketing was secured as the primary asset in an economic recession, that would severely hinder the profitability of the realtor, marketing is important but not the most important. The same goes for expanding business ventures, although in a short term it might make the business more profitable, a room error greatly presents itself if the realtor decides to do so. Reason for that being my best answer if for all of the benefits that are given to the realtor for becoming part of a professional organization. The legal protection, timely and accurate information, and the network of available resources is the main reason for this being my best answer.           

2. What process did you take to arrive at this answer?

The field of real estate is vast and there are multiple aspects to choose from within the field. My best answer is mainly driven by my mentorship. My mentor Rosario Lopez is a member of a professional real estate firm and she is also associated with a professional association. Seeing how she benefited through these organizations and conducting research helped me arrive at this answer. The research consisted of reading up on many of the potential benefits of becoming a member of a certain group. For example, the NAR offer timely and accurate information and strongly encourages that realtors stay up to date with current market issue. These organizations provide the resources, so that the realtor may stay ahead of the fast pace market.  

3. What problems did you face?  How did you resolve them?

A major problem I encounter had to do with my health and I rather not get to into detail with this on the blog but will at the Exit Interview.

Another problem that I faced was with my mentorship. My mentor was being relocated, and did not know where she was being relocated to. The way I attempted to resolve this issue was to look for a new mentor, throughout the area, contacting several offices from cities like Rancho Cucamonga, Ontario, Chino, Pomona, West Covina, Walnut, Riverside and Upland. Finally when my mentor relocated, she moved to an office in Pasadena and was more than happy to mentor me in real estate.          

4. What are the two most significant sources you used to answer your essential question and why?

My most significant sources throughout the senior project came from a book titled, SELLING REAL ESTATE ESRVICES: Third Level Secrets of Top Producers by Robert A. Porter and an organization called the JCHS (Joint Center for Housing Studies of Harvard University). The reason those are my most important sources is because JCHS gave me articles upon articles of credible information on a wide range of topics, such as mortgaging, laws and policies, different real estate firms etc. SELLING REAL ESTATE ESRVICES: Third Level Secrets of Top Producers was a significant source because of the clear distinction it gave me between different styles of conducting business.     

5. What is your product and why?

One of my products of my senior project is a possible career for my future in real estate. The reason for this is because of the very interesting field of real estate, and my mentor and how she makes a living solely on real estate. My other product is a gained understanding of the economy. analyzing the economy and the recession it had, causes for recession and solutions to recession has made me more aware of my personal finances and prepared me for when I enter the housing market looking to by my home.       

2014 Interview

1.  Who did you interview and what house are they in?

Bryan Pinto and he is in west house.

2.  What ideas do you have for your senior project and why?

Pinto: I'm thinking law, or something to do with the criminal justice system. I already have this cop guy as a mentor. Another thing I'm also thinking is maybe botany or horticulture, the other science oriented field. yeah. I want to do that because I think be involved with law in the future, also I like science, so I thought the study of plants would be interesting

Crisanto: What type of law?

Pinto: I don't know, something to do with the criminal justice system. Just kind like cop side of the law.

Crisanto: So law enforcement?

Pinto: Yeah, law enforcement.        

3.  What do you plan to do for your summer ten hour mentorship experience?

Pinto: CPPPD, Cal Poly Pomona Police Department.

Crisanto: SO that's where you plan to do your ten hours of mentorship?

Pinto: Yeah.  

4.  What do you hope to see or expect to see in watching the 2013 2-hour presentations?

Pinto: I'm expecting something pretty good, I mean they spent like a year.

Crisanto: Something more like nine months.

Pinto: Nine months on them, that's quite a bit. So I'd expect them to be really pretty good. I mean two hours is a long time, I don't want to put pressure on them, but I expect something good.

Crisanto: What do you hope to see? Or what do you want to see in these two hours?

 Pinto: Nothing really. I kind of want to learn , you know. Have fun with them. They're supposed to have activities with them, right?

Crisanto: Yes, multiple activities.

Pinto: So yeah, just fun.

5.  What questions do you have that I can answer about senior year or senior project (or what additional information did you tell them about senior year or senior project)?

Pinto: Alright, tell me about Fridays.

Crisanto:  Okay, what about Friday?

Pinto: You guys have house competitions, right?

Crisanto: Yes we do have them.

Pinto: Tell me how they work.

Crisanto: Almost every Friday, or event where a competition can be added. We compete as a house in order to win house points. The winning house usually would get like a discounted price for grad night or something along those lines. But is there anything else?

Pinto: Nah.  

Crisanto: Are you sure?

Pinto: I want to be surprised. I want it to hit me like a ton of bricks. But what's your topic?

Crisanto: My topic is real estate And I'm working with my mentor in Pasadena. So is that it?

Pinto: Yeah.      

Final 3-Column Chart

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Independent Component 2

LITERAL

(a) Statement saying: “I, Teodulo Crisanto, affirm that I completed my independent component which represents 30 hours of work.”

(b) MY textbook for the class that I have been taking has helped me. The book is Principles of Microeconomics, 5th edition, by N.G. Mankiw. Also my professor, Carsten Lange,  has helped me gain a better understanding of how economics applies to real estate.   

(c) Provide a digital spreadsheet 

(d) The class that I have completed for my second independent component is EC 201 Principles of Economics.     

INTERPRETIVE

Every week I would have class for four hours a week, then dedicate two hours outside of class to studying for the assignments and quizzes. The class is still in progress and not due for completion until, the eleventh of June. My goal for the class is to obtain a B on the final and hopefully an A on the midterm. The class has helped me to understand the basics of economics and given me a new way to approach my senior topic as a science, which I do enjoy.  

APPLIED

The component has helped me understand the foundation of my essential question more than what any piece of research would have to offer. The component has helped me realized how integrated the real estate market is with the entire US economy. More on the foundation, the class is making me take a more scientific approach to my entire topic applying these principles of economics. Such as people respond to incentive, whether a positive or negative incentive people will respond. With that information in mind the impact of many government programs is better understood. Like with the Obama administration, they offered up to an $8,000 tax credit for first time buyers and have purchased a majority of mortgage backed securities in an attempt to gain control of the housing market. Also my independent component has helped me develop another answer for my essential question, improve on how you are using your working capital in order to maximize profits, because in this business profit is essential.     

Three Column Chart

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