REAL ESTATE TECHNOLOGY,REAL ESTATE ADVICE
Keller Williams | September 16, 2022
Keller Williams (KW), the world’s largest real estate franchise by agent count, has launched the KW Real Estate Planner community for agents to train and mastermind on providing clients with wealth management services.
“As the housing market continues to shift, we’re leaning heavily into the value of business communities to enable our real estate entrepreneurs the opportunity to thrive, As part of a community, our agents are gaining a greater sense of connection, empowerment and impact while staying focused on business growth.”
-Sajag Patel, chief operating officer, KW
KW Real Estate Planner (REP) is a community based around certification, training and networking opportunities for agents to grow and mastermind skills on wealth management for their clients.
An emerging community, KW REP is led by Dan Ihara, who serves as its’ director. Ihara is also the founder of the Honolulu, Hawaii-based The Ihara Team.
KW Real Estate Planner is a new community designed to help our Keller Williams agents help their clients build wealth and transfer wealth, Agents can elevate their game from being a very good, seasoned real estate agent to a real estate planner that the wealthy will look at for advice,said Ihara.
Diversity, Equity, and Inclusion (DEI), a community for business growth using diversity and inclusion best practices, has also launched monthly masterminds.
The new DEI masterminds are conducted with leaders from KW’s Social Equity Task Force and KW agent-led affinity groups, such as the Hispanic Leaders of Real Estate, KW Black Real Estate Network, KW CHISPA, KW Pan-Asian Group, KW Rainbow Network, KW Signs, and the Lady Leaders of Real Estate.
KW New Homes, a community for business growth opportunities in new construction and land development, has launched new modular training. The training is focused on the best practices of supporting buyers with new construction buys, earning additional builder business and solidifying land developer partnerships.
KW agents who join a KW community have access to specialized training, technology, coaching, mastermind events and referral opportunities.
About Keller Williams
Austin, Texas-based Keller Williams (KW), the world’s largest real estate franchise by agent count, has more than 1,100 offices and 200,000 associates. The franchise is also No. 1 in units and sales volume in the United States. Since 1983, the company has cultivated an agent-centric, technology-driven and education-based culture that rewards agents as stakeholders.
REAL ESTATE INVESTMENT
Accel Real Estate Commission Advance | July 22, 2022
Real estate agents and brokers anywhere in the United States can now access financing on their pending real estate commissions through Accel Real Estate Commission Advance ("Accel"). Accel was created by Balanced Bridge Funding to help service real estate professionals around the country. "As a company familiar with assisting entities and individuals with guaranteed income but facing payment delays, being able to provide real estate commission advances is a natural step for us to help real estate agents and brokers who are interested in financing" says Joseph Genovesi.
Traditionally springtime is when the real estate industry starts to pick up. Schools are coming to a close and families begin to scout locations to move their families. Families or individuals with houses look to sell their properties for similar reasons. Real estate professionals have to be ready for the wave of interested buyers and sellers during the spring season and prepare for them.
Currently, the real estate market is on fire throughout the country. Low interest rates, the negative effect of Covid on the supply chain for developers and home builders, all cash offers have fueled the market raising the prices on the current stock of homes. A hot real estate market means the competition is fierce among real estate agents and brokers. They are competing for listings in their markets and they may need to have the financial backing or have access to financing to try and dominate their area. Some news outlets published stories about the constant activity of the Delaware real estate market in 2021. Last month, the Philadelphia Inquirer published a story about the lack of supply in the housing market and how that has affected housing sales. The Federal Reserve indicated they will raise interest rates which may help cool the real estate market.
According to the recent Pennsylvania Association of Realtors (PAR) report, general housing sales have decreased but the median home price has increased. In addition, the past few reports showed sales of houses priced between $250,000 to $2 million and more have increased from the previous year. The Delaware Association of Realtors (DAR) report for February 2022 showed similar statistics. The number of units sold dropped by 66%, but the average and median priced homes increased by 12% and 13%, respectively. Listings have increased and the average amount of time a home is on the market also increased. Inventory dropped over 10%.
Accel's real estate commission advance allows agents and brokers to access a portion of their pending fees. They can use these funds to increase spending on marketing their properties; get more listings, hire more agents; expand their offices for the spring and summer selling season. They can also use it for a variety of personal or professional purposes. Accel is also creating an exclusive membership program for qualified real estate agents and brokers.
This program will allow them to provide member agents and brokers with the unique opportunity to quickly and conveniently increase their cash flow and grow their real estate businesses. Members will enjoy exclusive benefits for funding including:
Priority processing of applications
45 Day Grace Period
10% Fee on advances 31+ days or more
Paid referrals for new colleagues that work with Accel Real Estate Commission Advance
No broker signature required to fund advances
REAL ESTATE TECHNOLOGY
PS Business Parks | July 16, 2022
PS Business Parks, Inc. (NYSE:PSB) (“PSB” or the “Company”) announced that, at a Special Meeting of Stockholders held earlier today, PSB stockholders voted to approve the acquisition of PSB by affiliates of Blackstone Real Estate (“Blackstone”).
“I am pleased to see that our stockholders approved this transformative transaction, which will provide compelling value to our stockholders and positions the company for collective success”
Stephen W. Wilson, President and Chief Executive Officer of PSB
Subject to the satisfaction or waiver of all of the conditions to the closing of the transaction in the merger agreement, the transaction is expected to be completed on or around July 20, 2022.
The final voting results will be reported in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission after certification by PSB’s inspector of elections.
Additionally, as previously announced, on July 8, 2022, as contemplated by the merger agreement, the PSB Board of Directors declared (i) a prorated quarterly cash dividend (the “pro rata dividend”) on PSB common stock and (ii) a cash dividend (the “closing cash dividend”) of $5.25 per share of PSB common stock, each payable immediately before the effective time of the merger of PSB’s operating partnership with an affiliate of Blackstone, to holders of record as of the close of business on the business day immediately preceding the closing date of the Transaction and contingent upon the approval of the merger agreement by PSB’s stockholders, the satisfaction or waiver of the other conditions to the Transaction and the merger agreement not having been terminated. The amount of the pro rata dividend is based upon PSB’s current quarterly dividend rate of $1.05 per share of PSB common stock and pro-rated for the number of days from and including July 1, 2022 through the day immediately prior to the closing date of the Transaction.
Based on the anticipated closing date of the Transaction of July 20, 2022, the pro rata dividend will equal $0.216848 per share of PSB common stock, and each of the pro rata dividend and the closing cash dividend will be payable immediately prior to the partnership merger effective time on July 20, 2022 to the holders of record as of the close of business on July 19, 2022.
If the Transaction is completed on July 20, 2022, PSB stockholders who hold their shares of common stock on the record date for the dividends and through the effective time of the Company merger will be entitled to receive an aggregate of $187.716848 per share in cash, consisting of (i) $187.50, representing the $5.25 closing cash dividend and the merger consideration of $187.50 per share as reduced by the $5.25 closing cash dividend plus (ii) the $0.216848 pro rata dividend.
If the closing date of the Transaction is delayed past July 20, 2022, holders of PSB’s common stock will not receive the pro rata dividend or the closing cash dividend on July 20, 2022, and in such case PSB will make a public announcement providing further updates with respect to these matters.
For additional information regarding the proposed transaction, please consult the definitive proxy statement filed by PSB with the U.S. Securities and Exchange Commission on June 8, 2022.
J.P. Morgan Securities LLC is acting as lead financial advisor to PSB and provided a fairness opinion to the PSB board of directors in connection with the transaction. Eastdil Secured is acting as real estate advisor to PSB and is also acting as a co-financial advisor to PSB. Wachtell, Lipton, Rosen & Katz is serving as PSB’s legal advisor.
About PS Business Parks
PS Business Parks, Inc., an S&P MidCap 400 company, is a REIT that acquires, develops, owns, and operates commercial properties, predominantly multi-tenant industrial, industrial-flex, and low-rise suburban office space. Located primarily in major coastal markets, PS Business Parks’ 96 properties serve approximately 4,900 tenants in 27 million square feet of space as of March 31, 2022. The portfolio also includes 800 residential units (inclusive of units in-process).