RE/MAX: U.S. housing market experiences largest inventory decline since last year

RE/MAX | September 20, 2019

In August, America’s home sales slid 1.6%, marking the sixth month of 2019 that produced fewer sales than the previous year, according to the RE/MAX National Housing Report. RE/MAX reports buyer demand outpaced homes listed for sale in August, causing the largest inventory decline in 13 months. Overall, the number of homes for sale fell 5.5% from 2018's level and 1.5% from the previous month.

Spotlight

For over 50 years, BNP Paribas REIM France, accredited by the AMF (Financial Markets Authority), has been structuring and managing a diversified real estate asset portfolio invested in SCPIs (tax transparent non-listed real estate funds for retail investors) or OPCIs (non-listed real estate fund for institutional investors), representing 5.8 billion euros of assets under management at the end of 2013.

Spotlight

For over 50 years, BNP Paribas REIM France, accredited by the AMF (Financial Markets Authority), has been structuring and managing a diversified real estate asset portfolio invested in SCPIs (tax transparent non-listed real estate funds for retail investors) or OPCIs (non-listed real estate fund for institutional investors), representing 5.8 billion euros of assets under management at the end of 2013.

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REAL ESTATE TECHNOLOGY

Pacaso Launches Second Home Specialist Certification Program

Pacaso | November 01, 2022

Pacaso, the leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home, today launches its Pacaso Second Home Specialist Certification program that enables agents to grow their business, expand their knowledge of co-ownership and unlock exclusive benefits. The Pacaso Second Home Specialist Certification program is an easy five-step process that includes learning co-ownership best practices via the Pacaso Agent Playbook, garnering resources and tips for sharing co-ownership with agents' networks and experiencing a live virtual tour of a Pacaso home during an overview webinar, as well as submitting a referral. In addition to a 3% referral commission and Pacaso equity on each closed referral and additional 1% commission on resales for life, agents who complete the program will receive a Pacaso Second Home Specialist badge, free enrollment in Pacaso Access for agents ($1,000 value), and more exclusive opportunities to expand their business. Since the company's October 2020 launch, Pacaso has paid agents more than $21 million in total gross commission income (GCI). "By taking a short time to complete our new Second Home Specialist Certification program, agents will have the knowledge they need to discuss co-ownership, as well as create further trust with their clients on home ownership options, The process is so easy to complete and sets agents' business up for growth in 2023, I cannot wait to be at the next industry conference and see agents sporting their Pacaso Second Home Specialist badge." -Vice President of Industry Relations Marnie Blanco The debut of the Pacaso Second Home Specialist Certification comes on the heels of the Pacaso Agent Referral Dashboard launch, which enables agents to seamlessly refer potential second home buyers, track the status of their referrals and commission, and get transparent updates on the referral every step of the way. With the uncertainty of the market, successful agents are already creating business plans for next year. The best plans always include continued education and exploring new ways to grow their business – making this certification a 'must have' for agents. The buyers that purchase high-end second homes typically have friends that also buy high-end second homes. If you don't tell your clients about co-ownership and Pacaso, someone else will, said Jeff Kennedy, vice president of Leading Real Estate Companies of the World. Pacaso partners closely with all interested real estate agents and brokerages to help clients buy and sell a second home. Agents earn a 3% referral commission on the share price and Pacaso equity in the form of 500 restricted stock units (RSUs), when helping clients co-own a luxury second home in destinations regardless of where they're based or licensed. Pacaso manages the entire process to make it simple for agents from scheduling tours to answering questions, or managing inspections and escrow. The real estate industry is embracing co-ownership as Real Estate Standards Organization and its members defined co-ownership as a property type in 2021. Engel & Vӧlkers, RE/MAX, and Better Homes and Gardens® Real Estate introduced Pacaso and co-ownership to the already full-service luxury brokerages and networks, and Leading Real Estate Companies of the World® selected Pacaso for its Solutions Group program. About Pacaso Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make owning a second home possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.

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REAL ESTATE INVESTMENT

REZI Launches in Austin with Rastegar Partnership

REZI | September 26, 2022

REZI, the pioneer of Occupancy-as-a-Service, has launched in Austin with a partnership with the city's leading developer, Rastegar Property Company. Rastegar is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the Southwest US. The partnership between REZI and Rastegar was announced today by Sean Mitchell, Co-Founder and CEO of REZI. This deal contracts over 200 apartments across 9 buildings with floor plans ranging from studios to 3-bedrooms in West Lake Hills, Mueller, Hyde Park, Highland Heights, Clarksville, South Austin. All units will be onboarded to REZI's innovative AI-powered leasing platform, where REZI will take ownership over all marketing and leasing providing Rastegar with a turnkey guaranteed leasing solution delivering higher asset NOIs across their portfolio. "We are thrilled to be partnering with the "King of Austin Real Estate" not only because Austin is a key market for us, but Rastegar and REZI share the mission of using technology and innovation to make finding and acquiring housing fair, transparent, and accessible for everyone," - Mitchell,Co-Founder and CEO of REZI We were immediately impressed with REZI and what they have provided the previous markets in which they've launched, In just a few years, they have become a highly reputable brand with nationwide outreach and a service that aligns perfectly with our needs and philosophy,said Ari Rastegar, Founder & CEO of Rastegar Property Company. The announcement of this partnership coincides with REZI's launch of their Texas Headquarters at 1920 Mckinney Ave in Uptown, Dallas. About REZI Founded in 2016, REZI leverages state-of-the-art leasing and financial technology to improve and optimize renters' leasing experience and improve property owners' leasing performance. REZI is a privately held company based in New York City. About Rastegar Property Company Rastegar Property Company is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the southwest United States. Rastegar and its affiliates have co-invested in or directly own and operate over 13.8 million square feet of real estate across projects in 13 states and 35 cities. The firm specializes in acquiring complex or undervalued assets with opportunities to create value through repositioning, redevelopment, and/or improved operational efficiencies.

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REAL ESTATE ADVICE

Federal Realty Ranks First Among Peer Groups in 2022 GRESB Real Estate Assessment

Federal Realty | October 04, 2022

Federal Realty Investment Trust is pleased to announce that it has been recognized as a peer group leader in multiple categories in the 2022 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Assessment. GRESB is a preeminent ESG benchmark for the real estate industry. The company earned the #1 ranking in the U.S. Publicly Listed Retail Centers peer group under the Standing Investments Benchmark Report and in the U.S. Diversified-Office/Residential peer group under the Development Benchmark Report. It also received an "A" Public Disclosure Score from GRESB for the second consecutive year and achieved "Green Star" recognition for the fifth year. The REIT was previously named "Development Sector Leader" in GRESB's 2020 Real Estate Assessment. "These GRESB results are an acknowledgment of the positive impacts of Federal's decades long focus on developing, building and operating its real estate assets in a way that is sustainable for the long-term, Federal's Board and management team share the expectations of our stakeholders that Federal act as a responsible corporate citizen and having a third party assessment by GRESB confirm that those expectations are being met is very gratifying." -David Faeder, Federal Realty's Non-Executive Chairman of the Board About Federal Realty Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 105 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,400 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 55 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT.

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