BROKERAGE,MORTGAGE AND LENDING
Radius | August 04, 2022
Radius, the tech-enabled brokerage, today announced it has launched a mortgage brokerage in California. The mortgage launch comes on the heels of the company's $14 million Series A fundraise and recent expansion to Texas, Florida and Washington.
Radius is a full service, modern brokerage that provides real estate professionals and their teams with the support and tools needed to grow their business — with a simplified and modest flat fee commission structure. The brokerage empowers entrepreneurial real estate professionals with integrated technology, mentorship, recruiting, financial services and marketing resources to build and amplify their own brand.
With the addition of a mortgage brokerage, Radius agents and their clients in California will have access to a more seamless and transparent lending experience. With access to real-time status updates and critical documents in their client dashboards, Radius agents will be able to provide quality information about the lending process to their clients — while being supported by a dedicated team. Radius' mortgage arm will be led by Director of Mortgage Michael Bardales, a 20-year veteran of California lending and Senior Lending Manager Grace Davis, a 17-year real estate veteran and top lending officer in the state.
"We're building Radius Mortgage from the ground up to be a premier lender in California, For far too long, the lending process has been frustrating and burdensome for agents and their clients alike. By keeping cost structures low and bringing transparency to the entire lending process, we hope to help real estate professionals deliver a better client experience and grow their businesses."
- Sam Kasle, Radius' Chief Revenue Officer
Dedicated to developing the whole agent, Radius helped real estate professionals and their teams close more than $400 million in sales in the first quarter of 2022, while the referral network has generated $25 billion in referral commissions in the last three years. The company has doubled revenue in the last five months, and seen 300 percent revenue growth year-over-year.
Radius now operates in California, Colorado, Georgia, Oregon, Texas, Florida, and Washington. Building on its real estate social network of more than 85,000 agents nationwide, Radius plans to further expand across the U.S. by the end of the year.
Radius is the premier tech-driven brokerage firm for real estate professionals eager to grow their brands and profits. From networking opportunities, branding/marketing resources, to white-glove services for buyers and sellers, Radius is poised to help real estate professionals grow their businesses while saving them time and money. Founded in 2015, Radius is backed by the founders of Trulia, Zillow and Roofstock.
Sotheby's International Realty | August 17, 2022
Sotheby's International Realty announced the opening of Great Lakes Sotheby's International Realty, signifying the brand's continued growth in the state of Michigan. The addition marks the brand's seventh office in the state.
Great Lakes Sotheby's International Realty is owned and operated by Dean Groulx and Wendy Groulx, who bring more than 60 years of collective experience to the company. Headquartered in the city of Elk Rapids, the office will serve the greater Traverse City area in Michigan including Alden, Bellaire, Elk Rapids, Elk Lake, Lake Leelanau, North Port, Suttons Bay, Torch Lake, and Traverse City.
"Greater Traverse City has a robust luxury home market, It's become attractive for high-net-worth individuals and entrepreneurs and we're seeing both U.S. and international buyers purchasing primary and secondary homes in the area. Our continued growth in the state enables our brand to service this growing market and I look forward to supporting Dean, Wendy, and the entire Great Lakes Sotheby's International Realty team."
-Philip White, president and CEO of Sotheby's International Realty
The Traverse City area boasts a lifestyle and culture that few other places can match, Our area has access to some of the largest and most pristine freshwater lakes and access to world-class entertainment and fine dining. Few real estate companies can match the background and experience of our brokers and sales associates, and our affiliation with Sotheby's International Realty will offer sellers and buyers in the greater Traverse City area an experience like no other thanks to its prestige, global presence, and marketing capabilities,said Groulx.
The company has plans for future growth in Alden, Bellaire, Traverse City, Northport, and Leelanau. Great Lakes Sotheby's International Realty was launched in partnership with Russ Post, owner/broker of Ocean Sotheby's International Realty.
The Sotheby's International Realty® network currently has nearly 26,000 affiliated independent sales associates located in over 1,000 offices in 81 countries and territories worldwide. Great Lakes Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.
Sotheby's International Realty
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans more than 1,000 offices located in 81 countries and territories worldwide, including 51 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Anywhere Real Estate Inc. entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744.
REAL ESTATE INVESTMENT
Nitya Capital | September 26, 2022
Nitya Capital, a U.S. real estate investment firm, announced that it is expanding to the United Arab Emirates (UAE) as part of its continuing global growth strategy. Nitya plans to open an office in January 2023 to grow its investor base and provide opportunities to directly invest in U.S. real estate amid shifting global economies and stock market fluctuations.
Following the recent opening of Nitya’s India office in 2020, the expansion to the UAE underscores the increase in global demand for reliable alternative investment opportunities found in U.S. real estate, particularly multifamily. Nitya’s UAE branch plans to reach a newer, locally sourced investor base, specifically family offices, institutions, and high-net-worth investors.
“Opening our first branch in the Middle East is an exciting stepping stone in Nitya’s growth, The Middle East is a very important hub for Nitya given our recent successful capital raises in the region, and we can’t wait to offer the best in real estate services to Middle Eastern institutions and high-net-worth investors. I’m very grateful for the love and hospitality I’ve experienced during my many visits to the UAE and it’s an honor to be working with the investment community.”
-Swapnil Agarwal, CEO of Nitya Capital
Nitya leadership recently executed successful overseas investment deals with one of UAE’s largest institutional groups, as well as attributed meaningful investments with Middle East families in the past. With this expansion, the company will continue the momentum and meet increased demand from local investors who want to explore a new wave of recession-resilient real estate ventures through a direct presence within the region.
Nitya’s Middle East Partner and Managing Director for the new UAE location, Rasheed Chahal, will oversee all internal and regional developments across the branch, work with investors on all levels (high-net-worth individuals, family offices, institutions) for U.S. real estate deals as well as help to grow the UAE office. Chahal has more than 15 years of experience in various roles in real estate development, investment management, and capital markets across North American and Middle Eastern regions.
Multifamily real estate in the United States remains to be a lucrative investment as it continues to see increase in demand for housing given continued population growth and shortage of supply, despite global economic shifts. We want to bring these investment opportunities directly to the UAE investment community, Our expansion will provide local investors with in-area, on-the-ground representation and can help them take advantage of exceptional real estate opportunities without taking on major risk. With all the uncertainty and rising inflation taking place across national economies, real estate continues to be a powerful hedge and very attractive place to put your money,stated Chahal.
Nitya Capital has experienced historic growth since 2020, has partnered with large institutions across North America, explored several successful new student housing portfolios, opened an India office, and increased its total assets under management. The company currently oversees assets in excess of $3b. Overall, it has successfully exited over $2.5b in assets with 25%+ in total generated net returns for its investors since the company’s launch in 2013.
Its latest extension into the UAE region marks a substantial diversification in its growth across national waters, allowing for local investors to seize profitable real estate opportunities with safe and stable returns.
About Nitya Capital
Nitya Capital is a privately-owned national real estate investment firm headquartered in Houston, Texas. As active investor-operators, Nitya Capital takes a disciplined approach across all avenues pre- and post-acquisition. Our team of dedicated professionals works thoroughly to monitor key performance indicators and optimize asset performance, engaging in in-depth market research and data analysis. We additionally provide a thorough due diligence process and a holistic, hands-on asset management model, maximizing our attention to detail on all ends of the spectrum.
REAL ESTATE TECHNOLOGY
HomeJab | July 14, 2022
HomeJab, which provides real estate agents on-demand professional real estate photography services nationwide, is debuting a new and novel marketing method that gives real estate agents a new avenue to promote homes for sale – using an NFT, or non-fungible token.
Real estate agents who use HomeJab for professional real estate photography for their listing can now receive a free real-estate-backed-NFT of the home as part of their order. This new service from HomeJab includes promoting these NFT-backed homes for sale and listing them on the new HomeJab NFT site at nft.homejab.com.
HomeJab founder and CEO Joe Jesuele emphasized that this new service for real estate agents supplements their traditional marketing efforts by exposing them to an NFT-interested audience.
"For real estate agents, we provide an easy way to promote their listings to a new market of potential buyers and it doesn't cost them anything," explained Jesuele. "For crypto enthusiasts, we offer a way to purchase real world assets legally using blockchain," he added.
The first NFT-backed home currently being marketed for sale on the HomeJab NFT site is in Detroit, at 20060 Canterbury Road owned by Daniel McDonald and listed for $415,000 by Lisa Virkus, a real estate agent and founder of Realty in the D.
Team Title Services, owned by Web Raulston and based in Chattanooga, Tennessee, handles the title and settlement services.
McDonald is a Key Advisor at Mortgage Token, which aims to be the first company that allows clients to leverage their home equity to invest in cryptocurrency.
"I'm a firm believer that with digital assets such as NFTs, entire industries will benefit from being built on the Ethereum blockchain by increasing consumer transparency and transaction cost-effectiveness," home seller McDonald said.
McDonald explained that blockchain, like the internet, is the new "great equalizer" and that "Web3 will level the playing field, making information and pricing inequalities a thing of the past."
"Mortgage Token is an autonomous modernized lending platform bridging the gap between real estate and crypto lending. We look forward to launching before the fourth quarter of 2022 as the first lender specifically investing in cryptocurrency."
Jason Yourofsky, Mortgage Token founder
Jesuele noted, "Our customers will get an NFT listing for free with every photo shoot, and direct exposure to a more tech-savvy group of buyers."
With the new service, an agent can bring their buyer, and the buyer would purchase the NFT, which provides them with an option to purchase the property. Buyers purchase NFTs with USD Coin (USDC), a digital currency fully backed by US dollar assets, on the Ethereum blockchain. HomeJab receives 1% on the NFT sale, with the proceeds distributed to the title company who then facilitates the closing and recording of deed. The seller and buyer agent commissions would be part of the settlement statement, like any other traditional transaction.
HomeJab is America's leading on-demand professional real estate photography and video service for real estate pros. Lightning-fast high-end visual production offerings also include immersive 3D interactive tours, floor plan creation, affordable virtual staging, turnkey aerial services, and the creation of real-estate-backed NFTs. Its efficient one-stop-shop for real estate listings promotions at HomeJab.com features affordable and customizable shoots to create the most engaging visual content for faster home sales and enrich the listing agent's personal brand. HomeJab is available nationwide and in the U.S. and Canada.