The two Department of Real Estate veterans have formed a new company to assist real estate professionals like you. According to their website (www.reaaca.com), their mission is to provide value-added guidance and support for real estate consumers and licensed professionals.
To help you understand how valuable their expertise is, I have included extensive bios for each of them. Their backgrounds are extensive, impressive, and interesting.
As many of you know, Wayne was a favorite of mine during his time as Commissioner and has become a friend and a supporter of and occasional contributor to DGE.
Who is Wayne Bell?
Wayne is a California lawyer, real estate broker, author, and passionate and innovative advocate and problem solver who served as the 23rd California Real Estate Commissioner. He was also the Chief Counsel at the DRE. In addition, he served the public and the State of California as the Director of Homeownership and Special Counsel at the California Housing Finance Agency, Deputy Secretary and General Counsel (and Provisional Undersecretary) of the California Business, Transportation and Housing Agency, an intern in the California Governor’s Office, and has executive level experience and worked with large and small businesses, and nonprofits. He has real estate, land use, legislative, regulatory, general legal, litigation, and dispute resolution experience, and truly enjoys sharing his knowledge and helping people.
As the State’s Real Estate Commissioner, Wayne oversaw the licensing and regulation of over 400,000 real estate agents, and certain mortgage loan originators, and was responsible for enforcing the California Real Estate Law, the Subdivided Lands Act, and the Vacation Ownership and Timeshare Act.
He represented the DRE before the CA Legislature and government entities, professional stakeholders, licensees, consumer groups, and the general public.
Wayne also engaged in broad outreach statewide, and worked on State regulations, legislation, and policy proposals affecting the real estate industry, and mortgage loan brokers.
He always advocated for the DRE (and the Bureau of Real Estate) to add public value and to champion public protection, and informed consumers, licensees, and others about predatory and unlawful conduct, and fraud recognition and avoidance with regard to real estate matters.
Wayne holds a Bachelor of Arts degree from UCLA, where he graduated Phi Beta Kappa and magna cum laude, a Juris Doctor degree from Loyola Law School, Los Angeles, where he served as the Chief Note and Comment Editor of the Loyola of Los Angeles Law Review, completed a Program for Senior Executives in State and Local Government at the Harvard Kennedy School, and the Advanced Management Program at Rutgers University, and has done other executive coursework.
Who is Tricia Parkhurst?
Tricia is a seasoned real estate enforcement professional and consumer advocate with over two decades of leadership in regulatory compliance, investigations, and real estate law. Throughout her career, she has dedicated herself to protecting consumers and upholding the integrity of the real estate industry. Most recently, she served as the Assistant Commissioner of Enforcement at the Department of Real Estate (DRE), where she oversaw statewide enforcement operations and led teams investigating violations of real estate law and regulatory practices.
During her 23+ year tenure at DRE, Tricia spearheaded high-profile enforcement initiatives and directed investigations that held real estate licensees accountable for fraud, misconduct, and unethical practices. Her leadership was pivotal in shaping policies that ensured both consumer protection and the integrity of the real estate marketplace. Over her career, Tricia’s efforts resulted in the successful prosecution of thousands of cases, significantly improving compliance within the industry.
Tricia’s expertise extends beyond enforcement to include strategic leadership in modernizing case management systems, streamlining disciplinary procedures, and implementing investigative best practices. She is also a trusted advisor and sought-after speaker, known for her advocacy for both consumers and real estate professionals. Her background in criminal justice and her proven track record in leading enforcement teams have made her an instrumental figure in identifying fraud, enforcing compliance, and educating real estate professionals on best practices.
Tricia’s significant contributions include playing a key role in major fraud investigations in collaboration with federal and state agencies, such as the FBI, IRS Criminal Investigation Unit, and the U.S. Attorney’s Office.
In addition to her career at DRE, Tricia holds a Bachelor of Science degree in Criminal Justice from Sacramento State University and has valuable experience working in the private sector for a mortgage lender and a subdivider, giving her a well-rounded perspective on both sides of the real estate industry.
I’m pleased to share this resource with all of you and extend my best wishes to Wayne and his partner, Tricia Parkhurst. Keep their contact information close—you never know when you might need it.For more information, visit https://reaaca.com/insights/
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