Economic Momentum, Monetary Policy Sustain Commercial Real Estate Pricing in U.S.

CBRE | August 23, 2019

According to global property advisor CBRE, an advantageous balance of moderate growth, low inflation, and falling long-term interest rates in the U.S. kept capitalization rates for commercial real estate assets broadly stable in the first half of 2019.

Spotlight

Realtor.com has released its Winter Home Buyer Report, indicating that this winter season won’t see the slow down it has in years past. Check out the helpful infograph below outlining the results of the survey.

Spotlight

Realtor.com has released its Winter Home Buyer Report, indicating that this winter season won’t see the slow down it has in years past. Check out the helpful infograph below outlining the results of the survey.

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REAL ESTATE TECHNOLOGY

Transactly Acquires Moncord Real Estate Professional Services

Transactly | June 08, 2021

Transactly, a rapidly growing Real Estate Transaction Platform, has announced the acquisition of Moncord Real Estate Professional Services based in Bellevue, Washington. With this acquisition, Transactly further expands their national network of tech-enabled Transaction Coordinators -- already the largest in North America -- to include Moncord’s vast team of coordinators in the Pacific Northwest. “We are excited to welcome Moncord into the Transactly family,” says Transactly founder and CEO Bryan Bowles. “Alex and Lisa Mont-Ros have built an incredible team of talented individuals at Moncord. This acquisition significantly increases Transactly’s ability to serve agents, teams, and brokerages in all key markets across the country.” Moncord was founded by Alex and Lisa Mont-Ros, a husband and wife duo whose leadership in recent years has grown Moncord into the leading transaction coordination service in the Pacific Northwest, helping their clients close over $5 billion in transactions. “This is a natural next step for Moncord,” said Alex of the acquisition, “Our goal has always been to empower TCs so they can be their best, which enables real estate agents to focus on efficiency and growth. With Transactly’s ever-improving tech -- which truly stands alone in the industry -- our coordinators will continue to deliver the level of excellence which clients have come to expect from both Moncord and Transactly.” Transactly has retained all existing Moncord staff, and is enrolling all transaction coordinators and clients into their technology platform to ensure an ever-improving digital client experience -- something that is otherwise lacking in the real estate industry.

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REAL ESTATE INVESTMENT

Sotheby's And Realogy Form Strategic Partnership In Joint Acquisition Of Concierge Auctions

Realogy Holdings Corp. | November 18, 2021

Sotheby's, the world's premier destination for fine art and luxury goods, and Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today announced the acquisition of Concierge Auctions, the leading global luxury real estate auction marketplace. Under the terms of the agreement, Sotheby's and Realogy will take a joint 80% ownership stake in Concierge Auctions, while company co-founders Chad Roffers and Laura Brady will remain President and Chief Executive Officer, respectively. Concierge Auctions will operate independently, continuing to partner with real estate agents affiliated with many of the industry's leading brokerages to host luxury online auctions for clients. A newly formed Board of Managers will be made up of Sotheby's and Realogy executives and chaired by Philip White, CEO and President of Sotheby's International Realty, a Realogy brand. Financial terms were not disclosed. Luxury online auctions is a growing sector of the real estate industry, particularly at the high-end, where a more limited buyer pool exists and properties can be harder to value and sell. Concierge Auctions, founded in 2008, creates predictability and liquidity for sellers in an accelerated timeframe and is designed to work with real estate agents as trusted advisors, not disintermediate them. In fact, co-founders Roffers and Brady have both successfully served as licensed real estate agents, and the company has never auctioned a property without working in partnership with a local real estate broker. With an extensive network of independent luxury agents and high-net-worth clients, Concierge Auctions' technology platform serves as an additional tool for agents to market and sell unique, one-of-a-kind luxury properties around the world. In 2020, Concierge Auctions reported processing more than $3.4 billion in competitive bids with an average home sell price of $3.5 million. And, just this year, the company broke its fourth world record for highest price of a single-family home ever sold at auction with the sale of Villa Firenze, one of the most expensive residential properties in the world, listed for sale at $165 million. Prior world records have included the sale of Villa Passalacqua in Lake Como, Italy (listed for €100 million); Playa Vista Isle in Hillsboro Beach, Florida (listed for $159 million); and Walnut Place in Dallas, Texas (listed for $48.9 million). With Realogy's more than 300,000 globally affiliated real estate agents across six brands, including Sotheby's International Realty®, Corcoran®, and Coldwell Banker®, Concierge Auctions will benefit from increased distribution, lead generation, and industry-leading data scale, along with enhanced marketing visibility from the brands and affiliated agents. Sotheby's will provide Concierge Auctions with deep luxury auction expertise, including innovation in online and live auctions, and access to an unmatched global network of fine art and luxury goods collectors. "Realogy is the market leader in luxury real estate, an area in which we continue to strategically invest to drive future growth. As demand for luxury real estate auctions increases, we believe Realogy and Sotheby's can jointly bring powerful data and network scale to Concierge Auctions, a valuable tool for real estate agents helping clients expertly navigate the global high-end property market. Laura and Chad have expanded how agents and clients can sell and buy a home, and I look forward to what we can now achieve, together." - Ryan Schneider, Realogy Chief Executive Officer and President. "Since 2004, Realogy has had a very successful relationship with Sotheby's as the operator and steward of the Sotheby's International Realty brand, Just as the power of Sotheby's and Realogy has fueled the tremendous growth of Sotheby's International Realty, we are excited for what this new partnership can bring to Concierge Auctions as Laura and Chad grow their lead in the luxury real estate auctions sector while keeping the agent at the center." - Philip White, Sotheby's International Realty CEO and President and newly appointed Chairman of Concierge Auctions. About Realogy Holdings Corp. Realogy (NYSE: RLGY) is moving the real estate industry to what's next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.4 million home transactions in 2020. The company's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 191,700 independent sales agents in the U.S. and more than 135,000 independent sales agents in 117 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for ten consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row, named one of LinkedIn's 2021 Top Companies in the U.S., and honored on the Forbes list of World's Best Employers 2021. About Sotheby's Established in 1744, Sotheby's is the world's premier destination for art and luxury. Sotheby's promotes access, connoisseurship and preservation of fine art and rare objects through auctions and buy-now channels including private sales, e-commerce and retail. Our trusted global marketplace is supported by an industry-leading technology platform and a network of specialists spanning 40 countries and 50 categories, which include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits, and Interiors, among many others.

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REAL ESTATE TECHNOLOGY

ERA Singapore Partners with Matterport to Streamline Creation of 3D Virtual Property Tours for more than 17,300 Agents

prnewswire | October 26, 2020

Matterport today announced a partnership with Singapore's largest international real estate agency, ERA Singapore (ERA), to enable its more than 17,300 real estate agents an easy and cost-effective way to capture 3D virtual tours of properties. With Matterport, ERA will gain a competitive edge in securing exclusive listings and accelerating the marketing of their clients properties.Since its inception in 1982, ERA has been the leading PropTech agency in Singapore, equipping its agents with the most advanced technologies in the industry. Virtual home viewings have become an increasingly important tool for agents who want to continue helping home buyers find their next home safely.

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