Zillow begins buying and selling homes in Dallas

Zillow | April 15, 2019

Homeowners in the Dallas/Fort Worth area can now bypass the traditional real estate process and sell their house directly to Zillow, as the online real estate giant announced Monday that it is expanding its direct buying program to DFW. Zillow initially announced the expansion of its Zillow Offers program into Dallas late last year, but the program officially launched Monday. Zillow Offers allows homeowners to request a no-obligation cash offer from Zillow to buy their home. If they accept it, Zillow directly buys a seller’s house, prepares it for showings, and lists it for sale.

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The information, opinions and commentary contained in this document have been prepared with input from Hong Kong Digital Assets Ex Ltd, Colliers, Baker McKenzie and Deloitte Touche Tohmatsu Limited (the “Co-Authors”). The contents of this document have been prepared for general information only and are not, and should not be construed as, professional investment, legal, tax or other advice or service. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

Spotlight

The information, opinions and commentary contained in this document have been prepared with input from Hong Kong Digital Assets Ex Ltd, Colliers, Baker McKenzie and Deloitte Touche Tohmatsu Limited (the “Co-Authors”). The contents of this document have been prepared for general information only and are not, and should not be construed as, professional investment, legal, tax or other advice or service. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

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BROKERAGE, AGENT

Growing Florida Real Estate Company Further Disrupts Industry by Offering Agents New 100% Commission Option

LIVING VOGUE REAL ESTATE | September 06, 2022

Living Vogue LLC, doing business as Living Vogue Real Estate, a Florida-based luxury real estate company, announced today it will begin offering agents a 100% commission compensation option. In addition to this new alternative, the brokerage adjusted its traditional commission plan, with higher take-home percentages, thresholds, and an added cap, making it much more attractive to accomplished agents. Earlier this summer the company shocked competitors when it announced it had terminated 10% of its workforce as underperforming. Today's news makes it clear that the company is going after the best, most successful agents as it continues to grow. "While most of the industry is tightening, we're investing back into our most valuable asset: our agents. By offering more extensive benefits and higher compensation than our competitors, our goal is to attract and retain the best talent and thereby offer the highest level of luxury real estate services to consumers," - Mark Coppens, CEO of Living Vogue Real Estate Following record growth in 2021, the brokerage has no plans of slowing down. With agents doing business across the state in six different REALTOR Associations, executives aren't shy about their bold plans to expand into other highly competitive markets. They credit the company's success to their fundamental shift in focus onto the client experience, beyond just the predictably impersonal transaction of buying or selling a home. By curating an upscale, uniquely luxurious experience for clients in their Showrooms; engagement, sales, and brand loyalty have been remarkable. Visit a Chanel boutique in an upscale mall and you'll see a line to get in stretching around the corner. Why wait in that line when you can buy the same handbag online? It's the genteel staff, complimentary champagne, and exclusive feel that are the hallmarks of a truly luxurious experience worth seeking out. Buying a multimillion-dollar home in paradise should feel just as luxurious as scoring that latest Louis Vuitton scarf at their flagship storefront on the Champs-Élysées. So, we've structured our unique Showrooms to focus on this client experience, and placed them in high foot-traffic upscale locations to give agents the tremendous lead opportunities, added Mr. Coppens. ABOUT LIVING VOGUE REAL ESTATE Living Vogue Real Estate, headquartered in Sarasota Florida, is all about the exclusive experience. From the moment you step into one of their swanky showrooms you're greeted with a glass of champagne or cappuccino, and treated to an enjoyable, glamourous experience all the way through closing. No matter your budget, they believe the process of buying or selling a home should be fun, exciting, and fulfilling. From arcade games and pinball to occupy your little ones, to a pool table and wine bar for the adults, their goal is to make turning the page of life's next chapter relaxing and rewarding. You won't find 'cube-farms' and stuffy receptionists at Living Vogue. Their reimagined workplaces foster highly creative and collaborative agents with the expertise and charisma to help make your real estate and lifestyle needs a reality.

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REAL ESTATE INVESTMENT

HINES BECOMES FIRST COMMERCIAL REAL ESTATE FIRM TO PARTNER GLOBALLY WITH FORBES TRAVEL GUIDE

Hines | September 23, 2022

Hines, the global real estate investment, development, and property manager, today announced a partnership with Forbes Travel Guide to define five-star hospitality standards at Hines buildings, making it the first commercial real estate firm to work with Forbes Travel Guide on a global scale. Hines and Forbes Travel Guide will co-develop custom service standards for the firm's 415 global office and multi-family properties, and emphasize how hospitality-inspired service can bring greater value to tenants and residents. As commercial real estate standards rapidly change, and people seek more collaborative, creative, and curated spaces, the partnership signifies Hines' commitment to creating a consistent customer experience that scales with the firm and brings the company's culture to life. "Real estate owners and managers have typically prioritized asset value over experience. We're seeing the value in both ROI and ROE, or return on experience, and see it as the most important metric of tomorrow, Enhanced customer experience driven by five-star standards not only increases asset value, but helps people feel more valued, connected, and inspired in our spaces. We selected Forbes Travel Guide because they are the trusted partner of the world's leading hospitality brands and share our passion for creating meaningful experiences for clients." -Whitney Burns, vice president of global client strategy at Hines In addition to the co-created service standards, the partnership between Hines and Forbes Travel Guide will include a substantive training program encompassing both in-person training customized to the Hines portfolio and scalable online training. The new service standards will be implemented in 2023. Creator of the original Five-Star rating system, Forbes Travel Guide is the only independent, global rating agency for the hospitality industry. With over 60 years in the hospitality sector, Forbes Travel Guide is the global authority on five-star service, providing world-class, professional development resources to many of the world's most beloved hospitality brands including the Mandarin Oriental Hotel Group, Marriott International, Hilton Worldwide Hotels & Resorts, as well as other organizations that make exceptional service a pillar of their business model. Now, more than ever before, people are emphasizing the experience and purpose behind where they choose to spend their time. Our partnership with Hines is a testament to the firm's commitment to innovation and placemaking and signifies a new industry standard in the operation of commercial real estate, said Hermann Elger, Forbes Travel Guide CEO. About Hines Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. About Forbes Travel Guide Forbes Travel Guide, the global authority on genuine Five-Star service, provides world-class professional services to the hospitality industry and other service-oriented businesses such as luxury retail, residential, healthcare and private clubs through bespoke training solutions, evaluation services and custom service standards. Started as Mobil Travel Guide in 1958, the company created the first Five-Star rating system in the United States. Today, in addition to providing professional services, FTG is the only independent, global rating system for luxury hotels, restaurants and spas. FTG's prestigious annual Star Awards can only be earned through the company's objective, in-person inspection process.

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MARKET OUTLOOK, REAL ESTATE INVESTMENT

Enlighted Opens new Canadian Office to Increase Global Presence for IoT & Software Innovations

Enlighted | October 27, 2022

Enlighted, a leading proptech company, announced the opening of its new office in Kitchener, Ontario. The new office will be a hub for technical product development teams and further the company’s global scope as it continues to develop cutting-edge IoT and sustainability solutions at the intersection of people, space and work. “After two and a half years of the pandemic, in-office collaboration is a more critical part of hybrid working than ever before, As a proptech leader, we intimately understand the value in bringing together new and future talent to collaborate and ideate in person, ultimately creating a shared sense of purpose. We look forward to further tapping into the rich talent base in the Waterloo and Kitchener area to bolster our product innovation.” -Stefan Schwab, CEO, Enlighted Enlighted’s new office is in the Catalyst Building, a hub for Waterloo’s tech community. The Enlighted team will focus on the development of innovative smart building IoT sensors, data and software applications that enable customer productivity and real progress towards customers’ net carbon zero sustainability goals. The new office is designed to spark collaboration and innovation with a higher percentage of collaboration spaces and meeting rooms relative to other types of space. The Waterloo region is attracting some of the most innovative thinkers in Canada, thanks to its strong combination of established high-tech companies, active start-ups and educational institutions, As a result, Kitchener has become a magnet for large companies who want to build engineering teams. Investing has helped us recruit some of the best minds, and access to the University of Waterloo allows us to invest in the next generation while giving our teams a real boost of talent and creativity,said David Wigg, Head of Software Engineering, Enlighted. Enlighted has operated in Canada since 2019 and has grown to over 30 employees. The majority of employees will be based out of the Catalyst Building. The company has also developed strong ties with the University of Waterloo, one of Canada’s best universities for computer science and engineering. Since starting operations in Canada, Enlighted has worked with over 70 students from the university’s co-op internship program, hiring many as full-time employees. The office design and technology address the new requirements for hybrid work and uses Enlighted’s products to inform employees when is the best time to come to the office for collaboration and innovation. About Enlighted Enlighted is a leading proptech provider of IoT solutions at the intersection of people, space, and work. We offer a unique combination of cognitive environmental IoT sensors and lighting controls that connect to intelligent workplace experience apps, offering a singular, scalable, interoperable solution to address a spectrum of building, space, and productivity needs. Our customers leverage these solutions to enable occupant well-being, greater business efficiencies and momentum toward their sustainability goals. Enlighted is part of Building Robotics, Inc., a Siemens company.

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