estate industry – Talktalk China http://talktalkchina.com/ Mon, 14 Mar 2022 07:05:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://talktalkchina.com/wp-content/uploads/2021/10/icon-2-120x120.png estate industry – Talktalk China http://talktalkchina.com/ 32 32 Residential real estate agents have a banner year https://talktalkchina.com/residential-real-estate-agents-have-a-banner-year/ Mon, 14 Mar 2022 07:05:29 +0000 https://talktalkchina.com/residential-real-estate-agents-have-a-banner-year/ Last year was the best 12 months ever for some of Los Angeles’ top residential real estate agents. The top 5 agents based on sales volume in Los Angeles have each completed over $1 billion in real estate transactions. Kurt Rappaport of Beverly Hills-based Westside Estate Agency Inc. retained the top spot with $1.6 billion […]]]>

Last year was the best 12 months ever for some of Los Angeles’ top residential real estate agents. The top 5 agents based on sales volume in Los Angeles have each completed over $1 billion in real estate transactions.

Kurt Rappaport of Beverly Hills-based Westside Estate Agency Inc. retained the top spot with $1.6 billion sold. The Altman Brothers team, led by Josh Altman, took second place with $1.5 billion in sales.

The husband-and-wife team of Rayni Williams and Branden Williams and Aaron Kirman of Compass Inc. tied for third place with $1.2 billion in sales. Rounding out the Top 5 was Chris Cortazzo of Compass. The Malibu specialist has made $1 billion in transactions.
“In 2020 and 2021, we saw demand for the upscale, full-service family home/resort,” Rayni Williams said. She added that buyers are thinking about what they really need in a home and what makes a home a sanctuary.

Kirman called 2021 a “record year.”
“We’ve sold a lot of amazing homes. The luxury market was so on fire. Who expected him to go on for so long? It’s been an amazing year,” he said. “It’s a combination of things. Obviously Covid was the precipice for residential markets to take off and people realized how important home was and were willing to spend money. Money was flowing freely, but with all this stuff going on and interest rates as low as they were, it led to a really buoyant market.

It was a big year across the board with 14 agents or teams reporting over $500,000 in sales volume in Los Angeles, compared to just nine the previous year.
“It was the best year I’ve ever had. It’s been the best year many agents have ever had, and in some ways by far,” said David Kramer of Hilton & Hyland Real Estate Inc., who claimed 34th place on the list with $308 million in Sales.

Mauricio Umansky, founder and CEO of The Agency, based in Beverly Hills, agreed. It ranked No. 37 on the list with $298 million in sales.
“We had an incredible year both (me personally and) at the Agency, we exceeded our projections and estimates by a significant amount. We estimated $200 million in revenue and reached approximately $227 (million) It was a really good year for us. Personally, the same. I crushed it, developed a bunch of franchises and it was a really good year for sales,” Umansky said.

Tami Pardee, founder and managing director of Venice-based Pardee Properties, said her business had also had a great year and sold 30-35% more than usual. She ranked #7 on the list with $812 million in sales.

Hobbies

Experts agree that everyone in Los Angeles is currently experiencing high demand.
“We’re seeing a lot of interest across the board,” said Jade Mills of Coldwell Banker Residential Brokerage. Mills was No. 26 on the list with $351 million in Los Angeles sales.
Kirman said that instead of just focusing on a small area, some buyers have looked to the San Fernando Valley and even Orange County.

“We’re definitely seeing more people moving to the Valley,” Umansky said. “There’s definitely a value game there.”
He added that despite rising house prices, the Valley still represented a “big discount” to other Los Angeles neighborhoods.

9364 Beverly Crest Drive in Beverly Hills was sold earlier this year for $29.2 million.

Adele reportedly paid $58 million for a home at 30 Beverly Park Terrace.

Aaron Kirman Group of Compass sold this property for $14.7 million.

Kramer said west of the 405 Freeway was seeing “record sales.”
And experts agree that Malibu in particular is attracting incredibly high interest.
“It’s still crazy. Lack of inventory, huge price increases, Malibu is up about 35%,” Kirman said.
“We’re getting a lot of attention everywhere, but along the Malibu coast it’s very, very loud, so prices have gone up dramatically. If a property comes on the market, it gets a lot of attention and sells very quickly,” said Sally Forster Jones of Compass, No. 8 on the list with $737 million in Los Angeles home sales in 2021. .

She added that buyer interest in areas such as the Valley and Malibu is a result of people wanting more outdoor living space and being less concerned about being in the heart of Los Angeles, because more and more work is being done remotely.
Outdoor space and a home office are now top of the list for buyers, experts agree.
Pardee said the office space could come in the form of a secondary suite, a finished garage or an additional bedroom, but privacy is paramount.
And today’s buyer wants land.
“The trend has definitely changed. Before Covid we saw people who really liked amazing views and houses with pools. Today’s buyer still likes a view, but they’re really looking for land, privacy and security,” Kirman said.
Mills agreed that “complete privacy” and “perfect move-in” homes were expected by buyers.
Another thing that is now in demand is furnished and organized homes.
“When I started in the business, I was selling homes ‘as is’… today’s seller can’t get away with it,” Kirman said. “Buyers expect curated lifestyles, they expect curated furniture and artwork and even curated cars and everything in between.”

Williams added that many high-end houses are now associated with designers who run the house.
Mills added that due to shipping delays, furniture can take a long time to arrive, which is part of why so many buyers want furnished homes.

Buying wars

Demand for housing exceeds supply, agents agree, leading to an increasingly competitive market.
“It’s been a very, very intense and exciting year for real estate,” Jones said. “The market was so strong at all price points, but in particular the luxury market was very, very strong – multiple offers on virtually every property and there were more buyers than sellers.”

The Agency’s Mauricio Umansky has sold 1401 Londonderry Place for $13.9 million.

The One, a special house, closed the auction with a bid of $141 million.

The Brentwood Oasis at 1047 N. Bundy Drive was sold in June.

She added that homes were selling quickly and those under construction were often sold before they were completed. Some homes, she said, have seen as many as 20 offers.
Kramer said he sees more bidding wars in the $1-2 million price range in particular.

Kirman said it can be difficult for buyers to compete. There are “tons of bidding wars at all price points. If you have a house, whether it’s a good house or a bad house, we see multiple offers,” he said.

Umansky added that he saw buyers “who were determined to buy a house. If they lost a multiple (bid situation) on one, they would move on to another.

Big sales ahead

Agents see a bright future ahead of them for residential real estate sales in Los Angeles.
“I see another year like we had in ’21. I see the market continuing,” Kramer said.
“The market this year has been very, very strong; 2022 has been a continuation of 2021 and I anticipate a very strong market,” Jones agreed.

And while rising interest rates may be a concern for some, especially at low prices, agents are largely indifferent.
“In the lower markets, you had about 25 buyers for every house,” Umansky said. “Now if you have 12, you still have more buyers than supply.”

Experts agree, however, that this can create some urgency for buyers looking to close quickly before rates rise.
“There is a big push right now before they get up even more. People are worried they’ll go higher, so there’s always a push to buy,” Pardee said.

And even though interest rates are rising, they are still historically low.
The biggest concern, experts say, is the uncertainty about what is happening in Russia and Ukraine. This could make some buyers hesitant to spend a lot of money or drive more to park their money in Los Angeles real estate, which is considered a safe investment.

And some trophy sales are expected as homes like The Manor are expected to sell this year and The One recently received a closing offer of $141 million.
“There’s still a lot of money out there,” Umansky said. “I expect to see quite a few $100 million sales.”

The mansion is listed for the modest sum of 165 million dollars.
“Honestly, I feel like the price of the mansion is pretty fair, it’s a huge piece of land and a huge house,” Mills said, adding that she expects a number of high-priced sales. This year.
“It’s been very busy. It’s hard to keep up,” Mills said of the current sales pace. “2021 has been amazing but I have to say not as amazing as the start of this year.”

“Last year was great, but this year will hopefully double that. It’s crazy, everyone wants to buy,” she added.
Jones agreed.
“There is a lot of energy in the market. It’s an exciting time to be in Los Angeles and it’s an exciting time in the real estate industry. Buyers seem very optimistic overall,” she said.

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Global Residential Real Estate Market (2022 to 2027) – https://talktalkchina.com/global-residential-real-estate-market-2022-to-2027/ Thu, 10 Mar 2022 12:33:36 +0000 https://talktalkchina.com/global-residential-real-estate-market-2022-to-2027/ Dublin, March 10, 2022 (GLOBE NEWSWIRE) — The “Residential Real Estate Market – Growth, Trends, Impact of COVID-19 and Forecast (2022-2027)” report has been added to from ResearchAndMarkets.com offer. The global residential real estate market is expected to witness a growth rate of over 9% during the forecast period (2022 -2027). Residential real estate (RRE) […]]]>

Dublin, March 10, 2022 (GLOBE NEWSWIRE) — The “Residential Real Estate Market – Growth, Trends, Impact of COVID-19 and Forecast (2022-2027)” report has been added to from ResearchAndMarkets.com offer.

The global residential real estate market is expected to witness a growth rate of over 9% during the forecast period (2022 -2027).

Residential real estate (RRE) markets are impacted by the COVID-19 pandemic in several ways. On the one hand, shutdowns and increased use of remote working practices are likely to increase demand for RRE and accommodative monetary policy is likely to improve its accessibility. On the other hand, the economic slowdown and the rise in unemployment should weigh negatively on demand. Due to the closures most construction activity and real estate transactions came to a halt during covid, in 2021 as soon as the easing of the lockdown took place the residential real estate market surged.

The residential real estate market is the cornerstone of the well-being of any economy. Housing is considered a basic human need and is at the base of the famous pyramid of needs (Maslow). Therefore, it is understood that the way the residential real estate market evolves has a ripple effect on many people around the world.

Residential properties such as apartments, bungalows and villas are bought and sold on the market. The residential real estate market in emerging countries is mainly driven by urbanisation. Large cities in emerging countries such as India, China, Brazil, Argentina and South Africa, among others, are experiencing rapid expansion and need additional housing to accommodate people migrating from various parts of the world. country.

In addition, government measures promoting affordable housing are stimulating the expansion of the market. For example, the governments of Australia, the United States, and Canada have planned strategies such as first-time buyer concessions, veterans grants, golden visas, low-cost affordable housing programs, and reduced transaction taxes, which should stimulate the growth of the residential real estate market. Even low mortgage interest rates are also fueling the residential real estate market in countries like the United States, Canada, India, Australia, etc.

Main market trends

Growing urbanization propelling the residential real estate market

Today, some 55% of the world’s population, or 4.2 billion people, live in cities. This trend should continue. By 2050, with the urban population having more than doubled from its current size, almost 7 out of 10 people in the world will live in cities.

Most of this urbanization is occurring in the developing world in cities such as Lagos, Bangalore, Beijing, and many other cities in Asia, Africa, and Latin America. In fact, of this projected growth, India, China and Nigeria are expected to account for 35% of this global urban population growth.

With over 80% of global GDP generated in cities, urbanization can contribute to sustainable growth if managed well by increasing productivity, allowing innovation and new ideas to emerge. However, the speed and scale of urbanization is accelerating the demand for affordable housing.

In recent years in Australia, there has been a lot more land freed up for low density in the growth corridors of major cities. As a result, we have seen an increase in the number of first-time home buyers. There is a move towards a shared urban lifestyle in apartments, with 30% of houses in Sydney being apartments.

Since there is a growth of Tier 2 and Tier 3 cities in Asian countries like India, China, etc., there is a huge increase in demand for housing in these cities and urbanization in those countries that are boosting residential real estate.

Increase in residential property in the United States due to the fall in the mortgage rate

Mortgage rates also affect the residential real estate market through the cost of financing a home purchase. Most Americans take out a mortgage to buy a home, and mortgage debt accounts for about 70% of total household debt. Aggressive interest rate cuts and quantitative easing by the Federal Reserve drove down Treasury yields, also pushing down mortgage rates.

Industry experts say the current housing boom was born out of a cocktail of low interest rates, booming demand and supply bottlenecks. In short, it is a situation that many feel acutely, with no single policy to blame and no easy solution.

Banks lent about $1.61 trillion for home purchases in 2021, up about 9% from 2020. The housing market has strengthened during the pandemic as many Americans shift to work at home, which added bonus living space. Sustained job growth, a stock market at historic highs, rising rents and expectations of higher mortgage rates also boosted home buyers.

The extraordinarily low mortgage rates that have helped to intensify demand in the housing market are expected to continue to rise in 2022, pushing the residential real estate market.

Main topics covered:

1. INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Current Market Scenario
4.2 Residential Real Estate Purchase Trends – Socio-Economic and Demographic Insights
4.3 Government initiatives and regulatory aspects relating to the residential real estate sector
4.4 Overview of mortgage loan sizes and loan-to-value trends
4.5 Overview of interest rates for general economy and mortgages
4.6 Overview of rental yields in the residential real estate sector
4.7 Overview of Capital Market Penetration and REIT Presence in Residential Real Estate Industry
4.8 Overview of Support Provided by Government and Public-Private Partnerships for Affordable Housing
4.9 Overview of technology and startups active in the real estate sector (brokerage, social media, facilities management and property management)
4.10 Impact of Covid-19 on the market

5 MARKET DYNAMICS
5.1 Drivers
5.2 Constraints
5.3 opportunities
5.4 Porter’s Five Forces Analysis
5.4.1 Bargaining power of suppliers
5.4.2 Bargaining power of buyers
5.4.3 Threat of new entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry

6 MARKET SEGMENTATION
6.1 By type
6.1.1 Condominiums
6.1.2 Villas
6.1.3 Other types
6.2 By geography
6.2.1 North America
6.2.1.1 United States
6.2.1.2 Canada
6.2.2 Europe
6.2.2.1 United Kingdom
6.2.2.2 France
6.2.2.3 Germany
6.2.2.4 Rest of Europe
6.2.3 Asia-Pacific
6.2.3.1 China
6.2.3.2 India
6.2.3.3 Japan
6.2.3.4 South Korea
6.2.3.5 ASEAN
6.2.3.6 Australia
6.2.4 Middle East and Africa
6.2.4.1 United Arab Emirates
6.2.4.2 Saudi Arabia
6.2.4.3 South Africa
6.2.4.4 Rest of Africa
6.2.5 Latin America
6.2.5.1 Brazil
6.2.5.2 Argentina
6.2.6 Rest of the world

7 COMPETITIVE LANDSCAPE
7.1 Overpowering Market Concentration
7.2 Company Profiles
7.2.1 Christie International Real Estate
7.2.2 ColdWell Banker Real Estate Company
7.2.3 Al Habtoor Group
7.2.4 DLF Ltd.
7.2.5 Hochtief Company
7.2.6 IJM Corporation Berhad
7.2.7 Engel & Volkers AG
7.2.8 Lennar Society
7.2.9 Raubex SA Group
7.2.10 Pulte Group Inc.
7.2.11 Dr. Horton
7.2.12 Savills PLC
7.2.13 Sotheby International Realty Affiliates LLC
7.2.14 Sun Hung Kai Ltd Properties

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

9 APPENDIX

For more information on this report, visit https://www.researchandmarkets.com/r/tlxu67

        
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REA Group introduces new team to give real estate agents a bigger voice in the industry https://talktalkchina.com/rea-group-introduces-new-team-to-give-real-estate-agents-a-bigger-voice-in-the-industry/ Fri, 18 Feb 2022 02:35:27 +0000 https://talktalkchina.com/rea-group-introduces-new-team-to-give-real-estate-agents-a-bigger-voice-in-the-industry/ REA Group has set up a new business growth and industry partnerships team to bolster support for the real estate sector, with one of its first projects focusing on property manager wellbeing. Marini Gils leads the innovative team as director of business growth and industry partnerships, while former head of Jellis Craig’s property management department, […]]]>

REA Group has set up a new business growth and industry partnerships team to bolster support for the real estate sector, with one of its first projects focusing on property manager wellbeing.

Marini Gils leads the innovative team as director of business growth and industry partnerships, while former head of Jellis Craig’s property management department, Sam Nokes, has been named head of industry partnerships.

“REA, as a company, has always been customer-centric in the way it does business, and the introduction of the Business Growth and Industry Partnerships team, we believe, further demonstrates our commitment to establishing strong relationships with all of our customers in the market,” said Ms. Gils.

“Our goal as a team is to partner with and support the industry.”

One of the first projects the team will bring to market in March is Prosper, an online wellness hub for property managers.

Prosper will provide property managers with a range of resources, conversations and advice from leading industry and mental health experts to support their well-being.

Mr Nokes said the idea for the online center came from REA customers who told the group about their concerns about burnout and exodus from the industry.

“We sat down with a group of our top customers and tried to figure out what their issues were right now,” he said.

“One of the biggest issues in the property management space nationally is this ‘The Great Resignation’ issue. All businesses are suffering from this mass exodus from the industry and in Victoria it is compounded by the change in legislation concerning the qualifications of real estate agents.

“So not only are people leaving the industry, but there aren’t as many new people joining, given the new education requirements.”

Mr Nokes said the team analyzed how best to partner with and support the property management industry to solve the problem and decided to bring together a range of resources, including trainers and clients whose stories and experiences could be shared to help others.

“So we are in the process of setting up a program where we can showcase our clients and their experiences, mentorship and stories to ensure that property management professionals across the country feel supported and like they have someone with them.

“While there are great agencies where you might have a fantastic head of department and a really committed director, a great team structure and good corporate support and training, there are also offices like the first in which I worked, where you are the only property manager in the office.

Mr Nokes said feelings of isolation had been made worse over the past two years due to the pandemic, with many property managers working from home.

“They didn’t have that teammate behind them that they could turn around and talk to,” he said.

“So through our conversations with the industry, we thought, ‘how can we try to create this?'”

Marini Gils, Director of Business Growth and Industry Partnerships at REA Group.

Ms Gils said industry partnerships was just one of three areas the new team would focus on, the other two being a specialist sales team and an area of ​​customer retention and sponsorship.

She said the dedicated sales team has been designed to ensure new products are introduced to the industry as quickly and efficiently as possible.

“We are here to provide personalized training and support so that new products deliver real and meaningful value to all of our partners, whether by improving efficiency, providing insights or increasing return on investment,” said Ms. Gils.

“An immediate example of this is our Connect product for our residential customers.

“In a nutshell, it provides data and insights that streamline the process for agents to attract, nurture and convert leads, meaning they can focus their attention on what matters most to them. “

Ms. Gils said the customer loyalty and referrals section focused on reinvesting in the real estate industry and included initiatives such as the Advantage program.

The program offers events, professional development opportunities, industry sponsorships and community grants to REA Group clients.

“We’re not just looking to continue this program, but to strengthen and expand it further,” Ms. Gils said.

Mr Nokes said he was excited about his new role as Head of Industry Partnerships and that, having been in the real estate industry for 15 years, he understood the issues he faced.

“My goal is to capitalize on the experience I’ve gained and help REA Group guide this strategy from the inside, and essentially be the voice of the customer within REA,” he said. declared.

“I’m here to partner with and support our customers, and partnership, for us, is really about looking at initiatives that are important to them and understanding how we can improve that.

“From a support perspective, we want to understand what each of our customers are trying to accomplish and say, ‘How can we help you through this?'”

Mr Nokes said another area he would be responsible for is partnering with other industry bodies, such as the Real Estate Institute of Australia (REIA).

He said he was delighted to expand this partnership and support initiatives such as the REIA Awards, as well as using data and insights from the REA Group to help the REIA inform policy and officers. on a national level.

The new Business Growth and Industry Partnerships team joins the Client Group, which was formed in 2021 as part of the group’s shift to a client-centric model managed by Chief Client Officer Kul Singh.

Mr Singh said it was fantastic to have Mr Nokes join the REA Group.

“We wanted an industry partnerships manager who understands the industry, who understands what the hot topics are and what we can do to evolve and also shape our approach,” he said.

“We are investing, growing and focusing more on our customers.”

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eXp India organizes a powerful session for real estate agents to create a generation of world-class trained competitive professionals in India https://talktalkchina.com/exp-india-organizes-a-powerful-session-for-real-estate-agents-to-create-a-generation-of-world-class-trained-competitive-professionals-in-india/ Wed, 16 Feb 2022 12:28:38 +0000 https://talktalkchina.com/exp-india-organizes-a-powerful-session-for-real-estate-agents-to-create-a-generation-of-world-class-trained-competitive-professionals-in-india/ NNA | Update: February 16, 2022 5:57 p.m. STI New Delhi [India]February 16 (ANI/NewsSee): A unique cloud-based real estate platform, eXp India, has held a virtual event to upskill and train real estate agents so that they can become the market-ready professionals of the future.According to the company, real estate agents are the first link […]]]>



NNA |
Update:
February 16, 2022 5:57 p.m. STI

New Delhi [India]February 16 (ANI/NewsSee): A unique cloud-based real estate platform, eXp India, has held a virtual event to upskill and train real estate agents so that they can become the market-ready professionals of the future.
According to the company, real estate agents are the first link between brands and customers; therefore, helping them learn the art of selling and effective communication skills can help them gain a competitive edge and prepare for the market.
The virtual event was graced by the presence of Shashank Vashishtha, Executive Director, eXp India, Michael Valdes – President, eXp Global, Meghan Kelly – Vice President, Global Operations and Ilaria Profumi – Regional Director, EMEIA.
As an agent-centric company, eXp India is committed to helping real estate agents grow personally so that they can be more productive in what they do. The organization is focused on training its agents in soft skills so that they can capitalize on the massive growth potential of the Indian real estate sector.
Therefore, to help its agents take it to the next level, eXp brought in renowned motivational speaker, Dr. Bhupendra Singh Rathore, who left attendees enthused with his influential insights on life and happiness. As part of the interactive session, Dr. Rathore explained how agents can become the face of the business and help themselves and the eXp achieve higher levels of success.

“The Indian real estate sector has today become the most solid pillar that strengthens the foundations of economic growth in India. It is one of the greatest generators of employment, and here it becomes imperative to provide a assistance, training and upgrading of real estate agents who act as a bridge between real estate brands and customers. We believe that such initiatives are important and will greatly help our agents to become competitive and better in the market, “said Shashank Vashishta, Executive Director, eXp India.
During the event, Dr. Bhupendra Singh Rathore, a renowned motivational speaker, said, “I am grateful for the opportunity given to me by eXp. A booming industry like real estate offers many opportunities for growth. However, only a handful of people know how to take advantage of existing opportunities.” The motivational speaker added, “Through this motivational event for head trainers, my sole intention is to enthrall long-term real estate agents. as well as aspiring real estate investors and provide them with the best mantra for a successful career in the real estate industry. . “
eXp India and its global brokerage, eXp Realty, is one of the fastest growing real estate technology companies in the world with over 75,000 agents in the US, Canada, UK, Australia, Africa South, India, Mexico and Portugal. , France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Germany, Dominican Republic and Panama. As a publicly traded company, eXp World Holdings offers real estate professionals the unique opportunity to earn equity rewards for production goals and contributions to overall company growth.
eXp World Holdings and its businesses offer a full suite of real estate brokerage and technology solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools, and personal development. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.
This story is provided by NewsSee. ANI shall in no way be responsible for the content of this article. (ANI/NewsSee)

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eXp Realty exceeds 75,000 real estate agents https://talktalkchina.com/exp-realty-exceeds-75000-real-estate-agents/ Tue, 15 Feb 2022 18:10:00 +0000 https://talktalkchina.com/exp-realty-exceeds-75000-real-estate-agents/ BELLINGHAM, Wash., Feb. 15, 2022 (GLOBE NEWSWIRE) — eXp Realty®the world’s fastest growing residential real estate company and a subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced that it has surpassed 75,000 agents worldwide, representing an increase of 60 % compared to 46,745 agents in February 2021. This milestone follows a successful start […]]]>

BELLINGHAM, Wash., Feb. 15, 2022 (GLOBE NEWSWIRE) — eXp Realty®the world’s fastest growing residential real estate company and a subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced that it has surpassed 75,000 agents worldwide, representing an increase of 60 % compared to 46,745 agents in February 2021.

This milestone follows a successful start to 2022, with eXp Realty being named one of Glassdoor’s Best Workplaces for the fifth consecutive year. Additionally, eXp World Holdings Founder and CEO Glenn Sanford and eXp Realty CEO Jason Gesing were recognized on the Swanepoel Power 200 list as the No. 2 and No. 31 most powerful real estate executives, respectively. eXp Realty has also opened brokerage operations in the Dominican Republic in February 2022, now operating in 19 countries.

“We are committed to continuously innovating our business model and improving our agent value proposition, which ultimately delivers excellent service to owners and sellers alike,” said Glenn Sanford, Founder, President and CEO of eXp World. Holdings. “Our agent-centric platform is the foundation of our success as the world’s fastest growing real estate broker.”

Here are some of the recent teams and agents who joined eXp Realty in the second half of 2021 and early 2022:

  • Jennifer Grandjean in Portland, Oregon
    Jennifer Grandjean and his team of 7 joined eXp Realty in July 2021. In 2021, the team closed 63 transactions for over $25 million.
  • Clifford Blanquicet and the Blanq Real Estate Team in Charlotte, NC
    Clifford Blanquicet and the 16-person Blanq Real Estate team joined eXp Commercial in August 2021. In 2021, the Blanq Real Estate team closed $100 million in transactions.
  • Scott and Sean Bautista in Seattle
    Scott and Sean Bautista brought his team of 12 to eXp Realty in September 2021. In 2021, their team closed 139 transactions for $99,457,000 in sales.
  • Arie Luyendyk Jr. in Scottsdale, Arizona
    Arie Luyendyk Jr., a former race car driver who starred on Season 22 of The Bachelor, joined eXp Realty in September 2021. He completed 13 deals for $20,904,000 in 2021.
  • Dimitrios Kalogeropoulos in Ottawa, Canada
    Dimitrios Kalogeropoulos and the team of 7 Agent DK agents joined eXp Realty in December 2021, after 10 years at Royal LePage. In 2021, the team closed 250 deals for $170 million.
  • Marbel Lugo in Santo Domingo, Dominican Republic
    Marbel Lugo joined eXp Realty in February 2021 as an official broker for the Dominican Republic. She is a pioneer in the real estate industry in the Dominican Republic as a member of the board of directors of the Association of Realtors, an author and the first real estate coach in the country.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company of eXp Realty®Virbela and SUCCESS® Companies.

eXp Realty is the world’s fastest growing real estate company with over 75,000 agents in the US, Canada, UK, Australia, South Africa, India, Mexico, Portugal, in France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany and the Dominican Republic and continues to expand internationally. As a publicly traded company, eXp World Holdings offers real estate professionals the unique opportunity to earn equity rewards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of real estate brokerage and technology solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools, and personal development. The cloud-based brokerage is powered by Virbela, a deeply social and collaborative immersive 3D platform, enabling agents to be more connected and productive. SUCCESS® Companies, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com.

Safe Harbor Statement

Statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current beliefs and assumptions and involve known and unknown risks and uncertainties that could cause actual results , performance or actual events differ materially from those expressed or implied. in such statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; the expansion of our residential real estate brokerage business into foreign markets; demand for remote work and learning solutions and virtual events; the development of our commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in the forward-looking statements include changes in business or other market conditions; the difficulty of keeping spending growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s filings with the Securities and Exchange Commission, including, but not limited to, the most recent quarterly report on Form 10-Q and annual report on Form 10-K.

Contact person for media relations:
eXp World Holdings, Inc.
mediarelations@expworldholdings.com

Contact with Investor Relations:
MZ Group – MZ North America
investors@expworldholdings.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4bd3bd24-6e1e-4fc8-8f4c-d07f7ad08757

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Emerging Technology for Realtors in 2022 https://talktalkchina.com/emerging-technology-for-realtors-in-2022/ Mon, 07 Feb 2022 22:43:02 +0000 https://talktalkchina.com/emerging-technology-for-realtors-in-2022/ Whether it’s leads or lists, automation or integration, new technologies always promise to change the way real estate professionals do business. physical multiple listing service (MLS) to digital, from handwritten to electronic signatures – the practice of real estate is shaped by advances in technology and how society adapts to it. The real estate industry […]]]>

Whether it’s leads or lists, automation or integration, new technologies always promise to change the way real estate professionals do business.

physical multiple listing service (MLS) to digital, from handwritten to electronic signatures – the practice of real estate is shaped by advances in technology and how society adapts to it.

The real estate industry has already incorporated several generations of technological advancements that are changing the way transactions are processed. Increasingly, real estate agents rely on new technologies to stay competitive.

This need for agents is especially true when it comes to helping young homebuyers such as Millennials. This highly educated and tech-savvy demographic will become a vibrant player in the California real estate market once home prices match their long-awaited incomes around 2025 with the housing market and job recovery. [See RPI e-book Real Estate Economics Factor 15: First time homebuyers]

Related article:

Baby boomers are retiring and California is shaking

But what emerging technologies are poised to improve agency and homebuyer experiences in 2022 and beyond? To understand, let’s look at where technology and real estate intersect today.

Today’s technology and tomorrow’s innovations

A 2021 survey identified the most valuable technology tools for working real estate agents as follows:

  • electronic signatures;
  • local MLS apps and technology; and
  • Social Media.

In the same survey, agents said they expect the most impactful emerging technologies to affect the real estate profession within two years:

  • drone;
  • cyber security;
  • 5G;
  • virtual reality (VR);
  • artificial intelligence (AI); and
  • augmented reality (AR).

Drone are used in real estate to take aerial images of a property. This helps listings stand out. They enhance photos and present unique perspectives of the property. However, agents operating drones must hold a remote pilot license by passing a aeronautical knowledge test from a Federal Aviation Administration (FAA) approved test center. Certification must be renewed every two years.

cyber security, the practice of protecting critical systems and sensitive information from digital attacks, is becoming increasingly important as scammers look for new ways to exploit weaknesses in consumer security measures. A cybersecurity system prevents data breaches through encryption data when stored or sent. This way, only appropriate authorized users can access sensitive information.

Drones and cybersecurity are not entirely new, but are becoming commonplace, even necessary, for real estate professionals to remain competitive and secure. Yet it’s the tech alphabet soup of 5G, VR, AI, and AR that’s got tech-savvy agents buzzing.

Related article:

Realtors take flight with new drone guidelines

5G sets the scene

5G, the fifth generation of cellular technology, offers more bandwidth and faster speeds than today’s 4G standard. 5G also supports connectivity for the Internet of Things (IoT) – thermostats, doorbells, light bulbs, home security systems, self-driving cars and a host of other smart innovations across all industries. To support this growth, 5G networks should serve at least 1.7 billion users worldwide by 2025, as predicted in a GSMA Intelligence report.

the single-family residential (SFR) market is expected to benefit from 5G through its support for:

  • smart home technologythat allows greater connectivity for multiple devices;
  • remote brokerage officesthanks to faster speeds of transferring documents and programs to the cloud — especially useful for agents managing transactions remotely;
  • AI progress this will lead to powerful new tools like AI-generated property reports;
  • AR and VR, which requires a fast connection to deliver data-intensive experiences such as immersive digital home tours; and
  • greater flexibility work remotely, thanks to the Federal Communications Commission’s (FCC) ongoing efforts to expand US 5G capabilities in rural areas.

5G offers nearly every industry the opportunity to innovate and adapt. The public’s confidence and expectations regarding this technology may soon change their requirements when it comes to buying a house and choosing a real estate agent.

Related article:

Tech Corner: Virtual reality in the real estate market – fad or future?

Home in the Metaverse

Virtual reality and augmented reality are a revolutionary type of immersive digital technology with monumental implications for the future of real estate. Like the advent of the computer and the smartphone, new technologies have the potential to expand and even create markets.

Virtual reality immerses the viewer in a virtual world using a headset. AR superimposes digital information on the physical world while using a smartphone, tablet or soon digital glasses. Both technologies allow users to experience virtual environments in great detail, giving the user a greater sense of intimacy and familiarity with, for example, a house, without actually going there.

The visceral and emotional reaction to being in a new home can make the details of a sale transaction mere afterthoughts. In fact, emotions are twice as likely to drive buyers to make buying decisions than rational cognition, according to a study by the Journal of Advertising Research. Thus, virtual reality and augmented reality are useful tools to tell a captivating and emotional story to the homebuyer, a story that shows him exactly what he feels enjoy living in their new home.

With the ability to elicit such strong emotions, VR and AR technology is no longer just for video games. These technologies will be worth an estimated $80 billion by 2025, including $2.6 billion from the real estate sector, according to a Goldman Sachs report.

Virtual reality and augmented reality can be used in real estate to help buyers, renters and builders visualize the potential of a home or building, before construction even begins. Through virtual tours and virtual stagingBuyers no longer need to travel to a property’s physical location to get a feel for it, saving them time and better informing their property selection.

Related article:

Tech Corner: Vendors Save Money with Virtual Staging

Artificial Intelligence in real estate

AI refers to machines or systems that mimic human intelligence in performing tasks and continually improve based on the data collected. The AI ​​”learns” and responds to user input.

In real estate, AI can be used to home sales in various ways, including:

  • analyze the value similar properties in an area and adjust an offer based on these calculations;
  • guide virtual tours; and
  • produce an automated real estate reportaccording to Shore Agents.

AI is also an effective way to manage exchanges with customers and other agents. AI realizes virtual communication support through:

  • automated responses to queries;
  • chatbots or other online help features that generate responses;
  • models for offers and other specific responses; and
  • confirming the validity data and content submitted by others.

AI also improves organization, making it easier to find and use data and information. A more organized library of forms, documents, contact details, and customer information saves agents time and effort, while reducing manual entry on their part and collecting scattered data.

While the AI ​​can relentlessly handle tedious and repetitive tasks, it’s only as good as its inputs. Zillow Offers, which offers instant deals on homes, lost $420 million over three months in 2021 by relying on flawed algorithms to estimate home values. Thus, the output of AI-based machines is limited by the knowledge, creativity and biases of its designer.

Related article:

Proptech: the accelerator of change for real estate

Bigger Possibilities, Bigger Expectations

The next wave of technological innovation will introduce new frontiers of exploration and development. It has the potential to radically transform the way we perceive and interact with our neighborhoods.

As a result, homebuyers – especially Millennials and Gen Z – will have new expectations when engaging in various industries. This includes how they expect to buy and sell their homes, view property listings, and find and communicate with agents.

These emerging innovations are all interconnected. The widespread availability of 5G is bolstering developments in VR, AR and AI.

Real estate professionals who see the winds of change coming could better prepare for the future expectations of their clients by familiarizing themselves with this technology now. And that future could arrive sooner than you think.

Related article:

The Future of Cryptocurrency in Real Estate Transactions

Want to know more about the preferences and habits of young buyers and their relationship with the real estate market? Click on the image below to download the RPI book cited in this article.

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What do spelling bee winners and top realtors have in common? — RISMedia https://talktalkchina.com/what-do-spelling-bee-winners-and-top-realtors-have-in-common-rismedia/ Wed, 26 Jan 2022 08:00:00 +0000 https://talktalkchina.com/what-do-spelling-bee-winners-and-top-realtors-have-in-common-rismedia/ Being a real estate agent is not an easy job (regardless of what you might see on TV). Not only do you have to know the market and keep up to date with paperwork, but you are always available for your clients. However, if you want to succeed in this competitive industry, there are things […]]]>

Being a real estate agent is not an easy job (regardless of what you might see on TV). Not only do you have to know the market and keep up to date with paperwork, but you are always available for your clients. However, if you want to succeed in this competitive industry, there are things you can do to help yourself. One of those things is to practice responding to typical buyer and seller objections to feel more confident when they come up in real-life conversations. Practicing these answers will also help your potential clients feel more comfortable choosing you as their agent because they know you’re the expert.

Before you stop reading, think back to elementary school; how many times have you practiced your multiplication tables? How many times have you practiced reciting the states and their capitals? How many times have you practiced spelling bee words? Likewise, practice and role-playing helps you remember and perfect your responses to potential questions and objections.

It is practice makes perfect!

So how can you practice these responses? One way is to find common questions and objections real estate agents face and write down your response to each. You can also role play with a friend or colleague who will play the role of buyer or seller. Role-playing will help familiarize you with your response content and delivery. The more comfortable you are with your answer, the less nervous and anxious you’ll feel when a potential customer makes this objection.

Be your authentic self.

When you put yourself in this situation, there’s a fine line between practicing enough to be prepared for anything that might come up in a real-life conversation and going too far. You don’t want to sound like you’ve rehearsed too much because the person on the other end of your phone call can tell right away. Therefore, it is not only important what you say, but how you say it. Sure, words matter, but so do intonation, body language, and facial expressions. Through role play, these elements become second nature.

Watch other professionals in action.

Another way to practice is to attend real estate industry events. You will likely have the opportunity to hear industry professionals share their experiences and answer questions. Again, this is a great way to get ideas for potential answers and see how other agents are handling tough questions and objections.

The most important thing to remember is that you shouldn’t get discouraged if your first answers don’t go as planned. It takes a lot of practice and, more than likely, some trial and error for it to become second nature. Click here to learn how top producers are addressing the top 5 seller objections.

Fathom Realty currently operates in 35 states with approximately 7,500 agents. Agents enjoy higher net income through Fathom’s 100% commission and transaction fee compensation model, allowing them to invest more money in growing their business. Fathom agents earn equity awards based on their contribution to company revenue and growth.

To learn more about Fathom, click here.

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Best apps for real estate agents https://talktalkchina.com/best-apps-for-real-estate-agents/ Mon, 24 Jan 2022 14:00:01 +0000 https://talktalkchina.com/best-apps-for-real-estate-agents/ If you buy something through our links, we may earn money through our affiliate partners. Learn more. Working as a real estate agent is not an easy job. You need to be responsive to minimize turnaround times to provide potential buyers, sellers, and tenants with the information they need. So it’s no surprise that successful […]]]>

If you buy something through our links, we may earn money through our affiliate partners. Learn more.

Working as a real estate agent is not an easy job. You need to be responsive to minimize turnaround times to provide potential buyers, sellers, and tenants with the information they need. So it’s no surprise that successful agents are using the best real estate apps to gain an edge over their competitors.

If you’re new to the real estate industry and not sure which apps to choose, help is here. In this article, we’ll explore the best apps for real estate agents.

Let’s dive in:



How to choose the best apps for real estate agents

Choosing the best real estate apps can be overwhelming as there are hundreds of apps out there. They’ll answer everything from what real estate agents are doing to real estate marketing suggestions. Therefore, you must first assess your needs and then begin your search.

The following pointers can help you move in the right direction:

  • Make a list of the tasks you do on a daily basis
  • Start looking for apps for these tasks
  • Refine your options
  • Compare their features and prices to make an informed decision
  • Use a free trial (if available) to evaluate apps

The best apps will not only make you more efficient, but will also make it easier to find a home. So, researching to find good apps for your real estate business is worth your time.

12 best real estate apps to download right now

Whether you want to sell commercial properties, residential properties, auction properties, or bank-owned homes, the following real estate apps can make your job easier.

1. Redfin app

Redfin is a reputable real estate company, which has rich real estate data. Redfin has created one of the best real estate apps for agents. After becoming a Redfin agent, you can start making money using the app. The company claims that its agents earn double the first salary of agents at other companies.

As a local real estate agent with Redfin, you can access their frequently updated home listings to help your clients get what they want.

The application is also suitable for buying a house. Its powerful real estate search makes it easy to check property listings. Plus, homebuyers can use its mortgage calculator to check what they can afford.

Pricing

To start making money through Redfin, you need to start working with Redfin as a Master Agent, Associate Agent, or Partner Agent. The use of the application is free.

2. Zillow Premier Agent App

This is a great app for agents. With the help of the Zillow Premier Agent app, you can quickly connect with homebuyers and have market insights and tools to find the right property faster.

The Zillow real estate app offers complete branding solutions for agents. You can create a free profile to appear on the Zillow Agent Directory. Additionally, you can link to your active listings.

Zillow Premier Agent Advertising can help you reach your target audience on the Zillow app, Trulia, StreetEasy and HotPads.

Pricing

Zillow does not specify prices on its website. You can contact them to find out more about the rates.

3. Dot Loop

Dotloop is a powerful tool that helps real estate agents complete real estate transactions quickly and efficiently.

A single platform will allow you to:

  • Edit forms
  • eSign
  • Collaborate
  • Automate compliance

Whether you’re working on an Android phone, iPhone, or desktop computer, Dotloop is here to help you complete paperless transactions faster. And you can integrate it with all the major real estate tools you might use for CRM, marketing, accounting, automation, and more.

Dootloop has tons of free resources to help you get started.

Pricing:

The Dotloop Premium costs real estate agents $29 per month.

4. Real Estate Compass

Compass is a real estate brokerage firm that boasts of having the best agents in the country on board. The company offers its agents the latest technology tools, such as Collections, Insights, Marketing Center and CRM to help them close more deals.

The company is always looking for dynamic people to join its team. You can explore the Compass Real Estate-Homes app on Google Play or App Store, depending on your mobile device, to try how this app can transform your career.

Pricing:

You need to join the company as an agent to earn money, using Compass App. There is no charge to use the app.

5.Calendly

Calendly is an easy-to-use appointment scheduling app. It helps you manage client meetings hassle-free.

With Calendly, you free yourself from back-and-forth communications. It ensures you never miss a meeting with your prospects. Customers choose a suitable time from predefined time slots. And Calendly syncs it with your calendar like an efficient personal assistant.

Pricing

Its pricing starts at $8 per user per month. A free plan is also available.

6. Adobe Scan

Adobe Scan is a document scanning application for scanning and saving documents on the go. It saves documents in PDF format as well as images.

With Adobe Scan, you can travel lighter and close deals faster. It helps you keep all important agreements, contracts, and disclosures on your phone. And you can share, email, or quickly review them as needed.

Pricing:

The app is available for free.

7. Real Estate Resource of Real Estate Agents

Realtors Property Resource (RPR) is an online database of property listings. You can use it to find and access property details whether it is a residential or commercial property.

It makes it easy for clients to find properties, perform comparative market analysis, and find home value estimates. With up-to-date property and neighborhood data, Realtors Property Resource benefits you whether you are prospecting, listing or closing.

Pricing:

Members of the National Association of Realtors (NAR) can use this app for free.

8. Homesnap

Homesnap is a collaboration tool for real estate agents. It also helps in lead generation by qualifying prospects.

It is a comprehensive tool for finding residential properties for sale and taking photos with all relevant information. And you can immediately contact potential customers with its integrated messaging. Plus, Homesnap can even help you get real-time updates on new listings, price changes, or queries in your favorite area.

Pricing:

Homesnap Pro is free for agents of MLS partners (multi-listing services). And Homesnap Pro+ costs $599 per year.

9. LoopNet

The LoopNet Marketplace is for listing commercial properties. And unlike other real estate mobile apps, LoopNet is ideal for agents who only deal with commercial spaces.

LoopNet provides detailed investment property data and metrics to make informed decisions. With professional photography and cinematic video tours, you can see every nook and cranny of the listings.

Pricing:

It offers custom paid plans as well as a free tier.

10. Contact IXACT

The IXACT Contact CRM application is designed for the real estate industry. He can handle the business of residential and commercial real estate agents.

It helps you manage your entire team and business from one place. With IXACT Contact, you can nurture leads, automate social media posts, and host open houses and client meetings effortlessly.

Pricing:

Its pricing starts at $38 per month with a five-week free trial.

11. Palm Agent ONE

The PalmAgent ONE mobile app brings real estate to your palm. You can use it to calculate closing costs by referring to local real estate market data.

Armed with various calculators, PalmAgent ONE saves you hours spent estimating property tax, insurance and other costs. It also presents all the information with detailed photos and user-friendly graphics. And you can share them on social media and engage new prospects.

Pricing:

Its price starts at $9.99 per month (with a 30-day trial). A free version is also available.

12. DocuSign for Realtors

DocuSign for Realtors is a tool for signing agreements and contracts with clients remotely. And it integrates well with many popular online tools.

It provides secure access to documents for the entire team. And with the ease of getting digital signatures from anywhere, anytime, DocuSign for Realtors speeds up your work. DocuSign helps transactions move forward securely and reliably.

Pricing:

Its pricing starts at $8 per month for NAR members.

What is the best real estate app?

Choosing the best real estate app solely depends on your purpose. If you are just starting out, Compass real estate may be a good option. For experienced agents, the Zillow Premier Agent app may be well suited. If you are looking for the best app for productivity, DotLoop can be your choice.

Image: Depositphotos


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Feds seek to enlist real estate agents in fight against corruption https://talktalkchina.com/feds-seek-to-enlist-real-estate-agents-in-fight-against-corruption/ Wed, 19 Jan 2022 20:02:24 +0000 https://talktalkchina.com/feds-seek-to-enlist-real-estate-agents-in-fight-against-corruption/ the Financial Crimes Network, or FinCEN, is proposing an anti-money laundering rule that could impose reporting mandates on a wide range of professionals in the residential real estate market, including real estate agents, brokers, lawyers, insurance companies securities and settlement agents. FinCEN’s proposed rule, described in an “advance notice of proposed rulemaking” published in the […]]]>

the Financial Crimes Network, or FinCEN, is proposing an anti-money laundering rule that could impose reporting mandates on a wide range of professionals in the residential real estate market, including real estate agents, brokers, lawyers, insurance companies securities and settlement agents.

FinCEN’s proposed rule, described in an “advance notice of proposed rulemaking” published in the Federal Register, seeks to create general recordkeeping and reporting mandates – now permitted under the Bank Secrecy Act – for those involved in all-cash real estate transactions. FinCEN is a law enforcement arm of the US Treasury Department responsible for protecting the country’s financial system against illicit activities, such as money laundering.

“To address money laundering concerns, it may be necessary to ensure that a record keeping and reporting requirement applies to an entity involved in each unfunded transaction,” the regulatory notice states. proposed by FinCEN. “FinCEN is also seeking comments on whether and how to assign a reporting obligation to any or all of the following entities: title insurance companies, title or escrow companies, agents or brokers real estate, real estate attorneys or law firms, settlement or closing agents.”

In addition, the proposed rule also contemplates potentially requiring mandatory reporting for trusts – defined, by FinCEN, as a “legal relationship in which a person holds title to property subject to an obligation to maintain or use property for the benefit of another”.

“FinCEN notes that recent high-profile enforcement actions by the Department of Justice – including a forfeiture action to recover an alleged $3.5 million in corruption proceeds laundered through the purchase of a mansion from Potomac, Maryland, through a trust – indicate that consideration of any proposed rule should also include the risks presented by U.S. and foreign trusts,” the agency’s proposed rule reads.

the National Association of Realtors (NAR) said in a statement that the industry group “is aware that money laundering and terrorist financing in real estate remains a major challenge and threat to the real estate industry.”

“NAR also understands FinCEN’s renewed focus on this matter and will respond to FinCEN’s advance notice of the proposed rulemaking in the coming weeks,” the group said. “NAR believes that continued education and awareness on this subject is essential, and last year NAR reissued its ‘Voluntary Anti-Money Laundering Guidelines for Real Estate Professionals’ to assist practitioners in the industry to understand and assess key risks.

“The NAR will continue to work with law enforcement, regulators and other industry stakeholders to resolve this issue.”

The currently proposed rule is the result of a related, long-standing effort to curb criminal actors who hide behind shell companies. FinCEN has been issuing so-called “geo-targeting orders” (GTOs) since 2016 to help address the issue, according to a recent White House report outlining the US anti-corruption strategy. These GTOs, according to the White House report, ultimately encompassed a dozen U.S. metropolitan areas and were aimed at title insurance companies — requiring them to identify the “natural persons behind the legal entities.” [shell companies] used in cash purchases of residential real estate over $300,000.

Title insurance companies are required to report transaction information, including the price and address of the property purchased. In addition, GTOs require disclosure of beneficial ownership information for certain legal entities, or shells, involved in a real estate transaction, such as name, social security number, identification number and type.

“There have been reports of the success of geo-targeting orders, which have required securities companies to report to FinCEN,” said Daniella Casseres, partner at Michael Sandler, a women-owned law firm serving the financial services industry. “This is partly responsible for the proposed expanded rules.”

FinCEN spokesman Stephen Hudak said at the time the first GTOs were initially issued in January 2016 — targeting shell companies in Manhattan and Miami — that more than a quarter of transactions covered by orders in those two metropolitan areas involved “a beneficial owner or buyer’s representative”. which was also “the subject of a suspicious activity report”. FinCEN then issued a notice in 2017 that estimated that about 30% of transactions covered by GTOs “related to…suspicious activity,” according to the agency’s recent advance notice of proposed rulemaking.

The potential scope of expanding FinCEN reporting requirements for all-cash real estate transactions is quite broad. Using NAR figures for 2020 and 2021, FinCEN estimates that 18.5% of all US existing home sales involve “all cash” transactions. The agency also pointed to US Census Bureau estimates indicating that 4.4% of all new home sales involve unfinanced transactions.

“Based on NAR estimates of total home sales and median sale prices, this means that approximately 1.21 million residential real estate transactions, worth approximately $463 billion, are likely taking place without any obligations. anti-money laundering reporting system,” FinCEN said in its Notice of Proposed Rulemaking. “…. Given the vulnerability of the U.S. real estate industry to money laundering and other illicit activities, FinCEN believes that additional regulatory measures may be needed to ensure consistent reporting nationally.

Casseres said implementing an anti-money laundering program will be “a significant hurdle for newly covered entities,” such as real estate agents, brokers or settlement agents, as they “n ‘probably don’t have the in-house expertise to run such programs’.

“Entities should implement procedures to detect suspicious activity, and training would be required for entities and staff to identify the risk,” Casseres added. “In advising lending institutions, I have found that the success of anti-money laundering programs depends on training employees to recognize suspicious activity and how to report it.

“The reporting process inherently relies on human detection, even though you have a clearly documented process and controls.”

FinCEN officials declined to comment for this story. The public comment period for FinCEN’s proposed anti-money laundering rule covering all-cash real estate transactions is open until February 2, 2022.

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Thousands of Texas realtors learn to work with home builders https://talktalkchina.com/thousands-of-texas-realtors-learn-to-work-with-home-builders/ Wed, 12 Jan 2022 15:31:00 +0000 https://talktalkchina.com/thousands-of-texas-realtors-learn-to-work-with-home-builders/ HomesUSA Alliance helps agents specialize and earn educational credits DALLAS, Jan. 12, 2022 (GLOBE NEWSWIRE) — An effort to provide new home sales training to Texas real estate agents has already helped more than 4,000 real estate sales professionals across the state learn how to work better with home builders. HomesUSA Alliance, founded by real […]]]>

HomesUSA Alliance helps agents specialize and earn educational credits

DALLAS, Jan. 12, 2022 (GLOBE NEWSWIRE) — An effort to provide new home sales training to Texas real estate agents has already helped more than 4,000 real estate sales professionals across the state learn how to work better with home builders. HomesUSA Alliance, founded by real estate giants Ben Caballero and Bob Hafer, now enables hundreds of agents each year to become certified as new home sales specialists while earning the educational credits necessary to maintain a active real estate license in Texas.

During the pandemic, the two-day immersive courses offered by HomesUSA Alliance have become available remotely via Zoom. According to co-founder Bob Hafer, its popularity has skyrocketed as accessibility has grown, with 1,100 agents now taking the two-day program or signing up for individual courses.

The next series of 2-day courses, available via Zoom, are scheduled for January 19-20, 2022 and open to agents in Texas and nationwide. Registration is done through the HomesUSAAlliance.com website on its Calendar page (https://homesusaalliance.com/education/course-calendar).

Hafer, who created and teaches the courses, notes that the number of agents he can teach has nearly doubled during the pandemic because previously in-person class attendance was required. Additionally, course locations were limited to Dallas, Ft. Worth, and Austin, Texas. Now, the program is available to agents nationwide.

“Working with builders gives agents a new way to quickly grow their business. Ben became America’s #1 realtor by becoming a new home sales specialist,” Hafer said, “and I’ve spent my life in the home building business. We created HomesUSA Alliance knowing from personal experience that builders and realtors can benefit greatly from a closer working relationship.

The Alliance provides a comprehensive source of information on new housing for agents, helping to better understand how the building industry works.

“Agents often misunderstand why builders do what they do, and the same goes for builders when it comes to why agents do what they do,” said Ben Caballero, co -founder of the Alliance, founder and CEO of HomesUSA.com, and two-time Guinness World Record holder. “Through targeted education, we are helping to fill this knowledge gap,” Caballero explained.

Because the courses are approved for Continuing Education (CE) credits by the Texas Real Estate Commission, agents can earn 11 credits from six courses during the two-day program. At an affordable $200, once agents complete all six (6) CE courses, they can also earn their HomesUSA Alliance New Home Sales Certification.

“The Texas Real Estate Commission requires agents to take 18 hours of approved continuing education credit every two years,” Hafer notes, “and the Alliance course covers about two-thirds of your two-year requirement in just two days.”

“But the biggest benefit the courses offer, based on the testimonials of agents who have completed the program, is not the CE credit, but the fact that they get information on how to work with builders. and sell new homes that aren’t available anywhere else,” says Caballero.

“Niches create wealth in real estate is an old saying, but perhaps more true today than ever,” Caballero said. “The fact is, there are over 220,000 agents in Texas, and the vast majority never show a buyer a new home. Yet we know that nationally, over 80% of all real estate sales involve an agent. So, we teach real estate agents to specialize in a big business niche – how to work with builders and sell new homes. Agents who complete this training will create a competitive advantage in the market and will be able to better serve their customers,” he added.

There are six bimonthly two-day courses, and they can be taken all at once or individually. Course titles are “Build Your Real Estate Business Through New Home Sales”, “Everything You Need to Know About Building New Homes”, “How to Negotiate Successfully with a New Home Builder”, “Understand the new home builder contracts and endorsements” and “Reading New Home Construction Plans for Real Estate Agents” and “How to Recognize a Green New Home”. Registration is available online at HomesUSAAlliance.com.

About HomesUSA Alliance
The mission of the HomesUSA Alliance is to improve builder-agent relationships through better communication. With these courses, agents benefit greatly from a better understanding of how home builders operate. Founded by real estate industry giants Ben Caballero and Bob Hafer, the Alliance is their way of giving back to an industry that has enriched their professional and personal lives.

About Ben Caballero and HomesUSA.com®
Ben Caballero, founder and CEO of HomesUSA.com, is a two-time Guinness World Record holder for “most annual home sales transactions through MLS by an individual sell-side real estate agent.” Ranked by REAL Trends as America’s Top Realtor for Home Sales since 2013, Ben is the most productive realtor in US history. He is the only agent to top $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and repeated every year until 2018 when he made over $2 billion. . An award-winning innovator and technology pioneer, Ben works with over 60 home builders in Dallas-Fort Worth, Houston, Austin and San Antonio. His podcast series is available on iTunes and Google Play. An infographic illustrating Ben’s commercial production is here. Learn more about HomesUSA.com | Twitter: @bcaballero – @HomesUSA | Facebook: /HomesUSAdotcom.

Media Contact:
Kevin Hawkins
(206) 866-1220
kevin@wavgroup.com

Pictures:

HomesUSA Alliance logo
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Ben Caballero
https://www.homesusa.com/wp-content/uploads/2016/06/L-38017_bcaballero_photo.jpg

Bob Hafer
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