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#Exit Compass Realty
hoyoungy · 7 years
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Struck - Suga/Yoongi (IV)
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genre: fluff, angst, soulmate au summary: you’re never going to change word count: 2122 a/n: i hope you are all enjoying this series so far! i know i am! female pronouns, explicit language, and mentions of alcohol ahead! also, surprise guest ;) as seen on my ao3
part iii, v
When your Mom told you about the day she first met your Dad, you were seven years old. You saw a twinkle in her eye as she told the story that only appeared when she talked about your Dad. They met in the middle of a busy street. Your Mom dropped all of her books and papers for school in the snow and someone came to her rescue. When she looked up to thank the person, she saw your Dad smiling down at her.
When you were twelve years old, your Mom said your Dad was going to move away because of a new job. So you stayed with her, but you saw your Dad every other weekend.
When you were nineteen years old, your Dad told you that there were some things that even sould-binding can’t force him to be what your Mom needed.
When you were nineteen years old, you looked your Mom in the eye with tears pooling in your own and she gave you a tight hug, all the while still smiling.
When you were nineteen years old, you lost the will to find your soulmate. You didn’t believe any soul-bounded relationship was genuine. If your parents’ was fake, then all of it must be fake.
And then you met Yoongi.
Oh, how lucky of you to be paired up with someone like Yoongi. It was written in the stars.
‘Are you afraid of falling in love with someone like me?’ The question rang in your head too often for your own good. Truth be told, you are afraid. Afraid you’d love him, give him your world, all to have it thrown away when he gets bored with you. Would he get bored of you? Or was it a hereditary thing, that maybe you’d get bored of him instead? You are your father’s daughter.
A lot can happen between you and him. Everything from this point on was written in the stars, too.
It was seven in the morning when your alarm woke you up. After a long, eventful, paid week off work, it was time to get back to realty and back to work at the coffee shop.
“Good morning, sleepy head,” your boss said as you trudged through the door. “Hungover?”
“I wish,” you muttered.
“What’s on your mind so early this morning?”
“I met my soulmate.”
Her eyes widened as she shot you an amused, but confused, look. Other than your mom and a few friends, your boss was the only other person who knew about your opinion on soul-binding. “Wow, well… That’s something, huh?”
“Yeah,” you sighed, throwing in shot after shot of espresso in your latte.
“What’s he like?”
“He’s an idiot.”
“Aren’t they all?” she smiles. The door chimed as the first customer walked in. “I got ‘em. Good morning, sir! Can I get you anything?”
“You can’t, but _____ can.”
You swung your head quickly, about to scold the customer for being inappropriate, but you were face to face with a very tired, very annoyed soulmate instead. You were so tired that you didn’t even notice the tug on your wrist.
“What are you doing here?” you groan, thinking about how it was way too early to be interacting with anyone right now.
“Did you know the compasses flash when your soulmate wakes up?” he scoffs, as if blaming you for waking him up. “Guess it’s one of those after-contact perks. The past few days I was able to ignore it, but today took the cake. So I thought I’d come in and ruin your morning,” he smirked.
“I guess I can’t run from you anymore.”
“Nope. I’m getting really good at tracking you down.”
“Lucky me,” you said. “Can I actually get you anything, or…”
“Your strongest drink.”
You made him the same drink you made yourself, since it was the only thing that could wake you up these days. You saw him reach into his pocket for his wallet.
“O-Oh, no, it’s fine.”
“What, no.”
“Soulmates discount,” you joked. “Please, just take it.”
“You didn’t poison it, did you?”
“Don’t be silly, that’d be too easy.”
Yoongi rolled his eyes as he too a gulp of his drink. He cringed at how strong the espresso taste was. A thick line of whipped cream was left on his upper lip. You began to giggle, and Yoongi raised a brow suspiciously. You’ve never laughed in front of him yet.
“What…?” he asked.
“You’ve got a little…” Still smiling, you pointed to your lips.
Frantically, he wiped away the whipped cream and he couldn’t help but smile a little, too. You were much prettier when you were smiling because of him instead of scolding him.
“I’ll get outta your way for now,” Yoongi sighed dramatically, walking towards the door.
“Wow, already?”
“You’re no fun to bother when you’re tired.” He turned to look at you before he exited. “Your hair looks nice like that, by the way.” And he winked.
You were left speechless in the end, mouth agape and your mind a bit scrambled. He just complimented you. What was wrong with him today?
You turned to your boss, who was holding in her squeals of excitement.
“He’s so cute!” she gushes. “Quite the character.”
“I guess!? Do you see what I mean, though!?”
“You can definitely tell you’re each other’s soulmate.”
“Really? How?”
“By the way that you two talk to each other. It’s so… natural,” she grins. “Oh, how it must feel to be young again.”
You shook away the thought of being so civil with Yoongi. Although your boss wasn’t wrong - talking to Yoongi the night that you met just came so naturally to you, even if you were just scolding him for walking into the street.
Maybe it was just one of those after-contact perks.
When Yoongi got back home from visiting you, he prayed that none of the guys were up yet, and thankfully, they were knocked out cold. He couldn’t take anymore teasing from them.
Yoongi was priviledged enough to be the first one out of all of the guys to find his soulmate first. They always told each other to run away from the pull until they all thought their time of fooling around was over.
Truth be told, the party life was starting to get really old. It was so tiring! And expensive! Buying so many drinks for not only himself, but for girls throughout the week was just too much. All he wanted to do now was sleep.
But that didn’t mean Yoongi was ready to settle down completely… He was still young! Thankfully, you didn’t see like the type that wanted to settle down, too.
… But why didn’t you want to?
Isn’t that what all girls wanted? To find their one and only? Any girl would be lucky to have him as a soulmate! All the girls that he brings home tell him that all the time! He’s handsome, smart, manly… But you - you always looked at him like you didn’t want anything to do with him.
Was he that horrible to you?
“Are coming with us, or what?” Namjoon asked, kicking Yoongi lightly to pull him from his thoughts.
“Huh?”
“Are you going out tonight or do you have plans with your soulmate ~?”
Yoongi rolled his eyes. “Shut up, I’m coming.”
“All right, we’ll be outside.”
Yoongi lazily changed into another nightlife outfit where the buttons on his shirt stopped low enough to see his chest. He looked at himself in the mirror. He just looked so… tired.
“Fuck it,” he mumbled to himself, pulling out his phone. “Hey, are you busy tonight?”
You locked the doors to the coffee shop and bid your boss a farewell. The day was so busy that you only had time to eat a small snack on your lunch break and you could feel the toll it took on your body. Your body was also warm from steaming up so much milk that you didn’t bother throwing on your jacket.
The night was still young, but the skies said otherwise. It was only five and the sun had already set. The glow of the street lights guided your way home, but the glow of your compass was even brighter.
The crunch of footsteps atop of snow stopped behind you. You groaned loudly. What could he possibly want now?
“Are you stalking me now -” You stopped midsentence when you saw who was behind you. “Jackson!”
Your longest friend grinned behind you. “Long time no see.”
“What are you doing here?” you asked, your smile not faltering one bit.
“I was going to come and visit you, but I guess I’m too late. Too busy to hang out with an old friend?”
“No, not at all, I’m starving actually. Come on, let’s go, you gotta tell me all about you and the misses!”
You and Jackson spent a good six hours at the restaurant talking and catching up with each other like old times. He was one of the few other people that knew about your lack of interest in soul-searching, so you wondered how he was going to react when you tell him that you found him.
“You WHAT!?” he exclaimed, making a few heads turn.
“SHHH,” you giggled. You and Jackson had a few drinks with your dinner…
“Sorry! You what, you found him?”
“I did,” you groan, gulping more of your drink. “I hate my life.”
“So did he fall madly in love with you at first sight?”
“Not everyone’s like you, Jackson, chill out. Besides, I don’t think he’s interested in this stuff, either. In fact, he might even be less interested than me, can you believe that?”
“No,” he snorted. “Unless his past is more broken than yours.”
“Rude…”
“I’m sorry, but you know how I am with my soulmate. Ever since I met them, I can’t imagine my life without them,” he gushed.
“Yeah, how dare you dump me for your soulmate. I’m still very much upset about that, by the way.”
“Don’t say that, your soulmate’s going to kill me!”
You and Jackson left the restaurant a little later than you expected. Since Jackson still had a long ride home, he stopped drinking, but that didn’t stop you from drinking any more. You stumbled in the snow next to Jackson as he walked you home.
“My life is over!” you screamed into the sky.
“No, it’s not.”
“Yes, it is! I’m gonna have to bother with this for the rest of my life!” You looked at your wrist and squinted at the brightness of the glow. “Gah, see!? He’s also nearby! I’ll never get any alone time anymore - whoa!”
Jackson caught you before you could face plant into the snow. He wrapped he strong arms around your shoulder and tisked loudly.
“If anything, your tolerance has gone down since the last time I saw you. How disappointing.”
“Jackson… Why couldn’t you have been my soulmate huh? Life would have been so much easier.”
“_____.”
“You would’ve been the only exception.”
“Hey, _____ -”
“What!? Let me be sentimental to my best friend!”
“Is that him?”
“Hm?” You looked up in front of you to see two blurry figures. When your eyes focused, you saw Yoongi.
His wrist was glowing. The same arm was wrapped around another girl’s slim waist.
She was very pretty.
You tried to focus on Yoongi’s face. You saw that his hair was messy and he had lipstick on his neck. You were so focused on that that you missed his furrowed brows and clenching jaw as he bore holes between you and Jackson, as if trying to severe Jackson’s arm off of you.
The girl in his arms flashed looks between your wrist and his, finally clicking together the pieces. She didn’t seem to care that you were each other’s soulmates by the way she clung her body closer to Yoongi’s. He didn’t seem to care, either. He pulled her in closer.
Yoongi didn’t say anything as he kept his eyes on you.
Say something. Tell him to get his arm off of her. Tell her that he was yours.
“I wanna go home,” you said, walking straight past Yoongi.
Jackson didn’t bother looking at him as he jogged to keep up with you. Yoongi didn’t want to look back, knowing that someone that wasn’t him already had their arms wrapped around you.
“Let’s go,” you heard the other girl say.
That night, you buried your face deep into your pillow, crying your eyes out. You blamed it on the alcohol.
But that night you also realized two things.
1) Yoongi was never going to change.
2) You weren’t going to, either.
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Kelly Clarkson Looking To Sell Her Encino Farmhouse for $8.9M
Weiss Eubanks/NBCU/Getty Images
The pop star Kelly Clarkson would like to record an exit from her home in Encino, CA. The modern farmhouse is on the market for $8.9 million, according to the Los Angeles Times.
The Grammy winner grabbed the trophy property in 2018, for $8.5 million. After owning the home for two years, she placed the massive mansion on the market for just under $10 million in 2020.
With no buyers stepping up to belt out an offer, she has reduced the asking price, first to $9.5 million and now to the current price. Perhaps the price cut will be in tune with a sale.
The pristine property is billed as “celebrity-owned,” and the listing notes that it’s located in the “prestigious Royal Oaks neighborhood.”
Measuring 10,000 square feet, with exposed beam ceilings and a bright, white interior, it features eight bedrooms and 11 bathrooms. The soaring ceilings and sliding walls of glass seamlessly blend indoor and outdoor spaces.
A “chef’s dream” kitchen includes three islands, a La Cornue range, and state-of-the art appliances. A main bedroom suite includes a fireplace, private patio, and immense walk-in closet.
Other perks include a home theater, gym, wine room, and a two-level guesthouse with a kitchen and two bathrooms.
The half-acre, parklike grounds are dotted with mature palms, a pool, and a spa. The built-in lounge, fire pit, and the kitchen with a pizza oven make it easy to entertain outdoors.
Chris Corkum with Compass holds the listing.
Kellly Clarkson’s Encino, CA abode
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Living space
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Three-island kitchen
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Dining room
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Master bedroom and balcony
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The singer has another home on the market she’s been trying to unload for years. Her Hendersonville, TN, mansion has been on the market since 2017, when it was listed for $8.75 million. Clarkson picked up the enormous estate with her now-estranged husband, Brandon Blackstock, for $2.86 million in 2013.
The two have since moved on from the home, and recently filed for divorce. However, the couple’s country house remains on the market, although it has come down in price. It’s now available for $6.95 million. Even with the discount, it’s still the most expensive listing in the area.
The 20,000-square-foot gated lakefront house on 4-plus acres features seven bedrooms, a grand foyer with a two-story great room with fireplace, French doors, a mezzanine, and a spacious, eat-in kitchen.
A dramatic double staircase from an outdoor balcony leads down to the grounds, which include a private dock, saltwater pool, and two spas. Jack Miller with Parks Realty represents the listing.
Hendersonville, TN, home on the market
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Clarkson rocketed to fame after winning the first season of “American Idol” in 2002. The “Thankful” hitmaker has sold 25 million albums and 45 million singles worldwide. She has also served as a coach on “The Voice,” and has hosted her own talk show.
The post Kelly Clarkson Looking To Sell Her Encino Farmhouse for $8.9M appeared first on Real Estate News & Insights | realtor.com®.
from https://www.realtor.com/news/celebrity-real-estate/kelly-clarkson-looking-to-sell-her-encino-farmhouse/
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rossietherealtor · 4 years
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The three most important things you can do right now are to listen, take action, and show compassion. I go where you want to find that property to call home🏡💕 Dream it Wish it DO IT! _________________________________ Rosalba Melendres REALTOR® EXIT Strategy Realty Excellent service is our specialty! 🏠🔑 Text - Call - Email 773-430-2456 ________________________________ I’m your REALTOR® HABLO ESPAÑOL 😊 If you have questions about the real estate market - selling, buying, investment or renting always feel free to reach out! . . . #rossietherealtor #sellsbuysproperties #exitstrategyrealty #bilingualrealtors #bilingualrealtor #RealEstate #RealEstateAgent #RealEstateBroker #RealEstateLife #RealEstateExpert #Realtor #Realty #property #forsale #homes #homebuying #realtors #chicagorealtor #rentals #dreamhome #sellingrealestate #helpfulagent #inthistogether #homesnap #homeasp #landlord #landlords #propertyowner #leasing #listreports (at Marquette Park) https://www.instagram.com/p/CBBGCsCDXsV/?igshid=ck04ozz96n55
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jasonritzzo · 4 years
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Suburb Real Estate Boom
Lately, it seems that many are rooting for the fall of New York City, reporting on an alleged exodus and claiming the calm of the suburbs will replace the rumble of the Big Apple, even after the COVID-19 pandemic is over. And in many ways, they are right, but various real estate professionals from the tri-state area believe the New York City exit is temporary and complicated.
"The Manhattan housing market has been hit particularly hard," said Garrett Derderian, the founder of GS Data Services, adding that as potential buyers remain cautious about purchasing property in the city, the number of condo contracts declined by 34%, co-ops dropped 33% and small family homes dropped 11%.
Meanwhile, in Greenwich, Connecticut, the number of contracts signed went up 186% compared to this time last year. In the Hamptons, contracts went up 104%, and in Westchester, agents also saw more activity, though the market may have already peaked, Derderian said.
Yashmin Lloyds, a Compass broker in Connecticut, said that while, yes, Greenwich is having the strongest market it has had in a decade, it's all very "temporary," and with all the demand, realtors are actually running out of inventory. There are no rentals available, and most of the homes still on the market are very high-end.
For even the most established of realtors in the city, the boom in the suburbs is a red flag, but that doesn't mean it's permanent.
"Everyone's scared. A lot of major landlords are extremely nervous," Chris Okada, a broker and investor in Manhattan, told ABC News. "I mean, the Upper East Side is a ghost town. There are moving trucks everywhere ... But we're hopeful."
"When people talk about the New York City exodus, they're talking about pockets of Manhattan," he said. "But they're forgetting that Brooklyn, Queens and Staten Island have a whole demographic of people that are not gonna be moving at all, because of family, because of work, because of different situations."
Lindsay Barton Barrett, a Douglas Elliman agent in Brooklyn, said the stories about the exodus came out because the city was shut down and other markets started operating much sooner. "So, if you shut down New York for any time, of course you are going to see a comparative activity anywhere else," she said.
She said that many New Yorkers went to their parents' or in-laws' second homes for the first few months of the pandemic and were active in neighborhoods where they usually aren't. Summer towns got activity before the summer, suburbs got an influx of people, and still, New York remained closed. "It changed the market temporarily," Barton Barrett said, "but not fundamentally."
Currently, Derderian said, the Hamptons is the strongest luxury market in the tri-state region, with the number of sales between $3-5 million up 259% and the number of sales priced between $10-20 million up 150%. But many of those buyers also have properties in the city, and may be investing in the suburbs because they've realized they want more space and better living conditions on the weekends.
Other real estate professionals are seeing the current New York City housing market as an opportunity to invest and to sell the suburbs.
Jacqueline Trelease, an agent for The Corcoran Group in the Hamptons, does believe there is a New York City exodus, but in her eyes, it's a good thing.
"Schools [in the Hamptons] have had declining enrollment for years, businesses and restaurants struggle to survive on the offseason," she said. "I think this is going to be refreshing. Year-round residency is a different vibe than summer. It should be seen as a good thing and probably with our ability to work virtually a more long-term situation."
About half of the clients she's rented to this year are choosing to stay in the Hamptons rather than return to the city, she said.
"They've been out of the city with yards and pools since March and they've realized these places offer a lot more year round than they thought," she said.
Prices for homes in the Hamptons have risen, she added, but there's so much demand that people are agreeing to pay a lot more money than usual.
For many, experts said the pandemic was the excuse they needed to leave New York City.
Lisa Chajet, of Warburg Realty, said she does think there is a demographic that is leaving the city and not coming back. "It's the younger people who always had one foot out the door and this just pushed them," she said. "They were the 20 and 30-year-olds who were living here out of convenience and in small rentals. Why are they paying $6,000 a month for a crappy two-bedroom when everyone was working from home?"
Lloyds said that people moving to Connecticut from the city are young families or older couples looking for more space and a better quality of life. "But it was already in their 10-year plan," she said. "For some, it just tipped the scales."
The same goes for parts of Brooklyn -- while the borough is not a suburb, it is also not Manhattan, and for residents hesitant to leave the city amid the coronavirus outbreak, it's far enough. "They are people who always thought about doing it before," Barrett said. "They were waiting for the right time and this presented itself as the right time."
Because of the overall uncertainty, though, some prices are dropping. "Studios in Manhattan and Brooklyn are getting the biggest reduction because no one can live in a studio right now, it's too claustrophobic," Jane Sosi, a Compass agent in the city, said.
"Right now, there are many apartments coming on the market," said Dorothy Schrager of Warburg Realty. "The crisis has caused many people to reevaluate their financial future and sell their apartments. And, if the country remains as angrily divided as it is, that might also cause more people to leave. The outcome of the elections can be a big factor in the future of all cities."
Still, long-term investors are taking advantage of the price drops and buying properties in New York that they can sell once things return to "normal."
Okada, who is a commercial real estate broker, bought his first residential property in Brooklyn amid the pandemic. "I felt it was the best opportunity because there was no competition," he said, adding that while "there's not necessarily a New York exodus, people are going to look for a better quality of life, so places like Brooklyn are going to do even better."
"Exodus... perhaps to Brooklyn," agreed UrbanDigs' COO and co-founder, John Walkup. "The Brooklyn market is doing better this summer vs. last summer, so perhaps the problem is not New York City, per se, but Manhattan and its price points. While Manhattan certainly seems quieter, it's still an open question as to how many folks have permanently left and how many are just waiting out the pandemic in other places. We need certainty on schools, jobs, and safety before the full numbers on any exodus will be known."
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cathrynstreich · 5 years
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Volunteering Works Program Announces 2019 Mentoring and Grant Recipients
The National Association of REALTORS® and the Good Neighbor Society have announced the recipients of the 11th annual Volunteering Works grants and mentoring program. The program matches REALTORS® who work on newer, small-scale charitable efforts with mentors and awards them with funding for their project.
The five Volunteering Works recipients will receive a $1,000 seed grant and a year of one-on-one mentoring from a member of the Good Neighbor Society, composed of past recipients of NAR’s annual Good Neighbor Awards for volunteer service.
“This year’s recipients are committed to addressing needs in their community and have the drive to make a real difference,” says NAR President John Smaby. “The opportunity to work with Good Neighbor mentors will help them grow and improve their nonprofits for years to come, and NAR is proud to support those volunteers by offering mentoring, guidance and funding.”
The Volunteering Works recipients were selected based on their devotion to their communities through volunteer work and the potential to improve or expand upon their good with the help of an expert mentor. Their mentors are past winners of the Good Neighbor Awards, the highest honor that NAR awards to REALTORS® who are involved in community service.
2018 Volunteering Works mentoring recipient Carl Carter of RE/MAX Elite in North Little Rock, Ark., founded the Beverly Carter Foundation to teach safety strategies to REALTORS® after a man posing as a homebuyer killed his mother.
“Volunteering Works has taught me to dream bigger, and has filled me with the confidence and renewed conviction to pursue my mission of making the real estate profession safer,” says Carter, who was mentored by 2001 Good Neighbor Ron Phipps. “The mentorship has stretched my vision and creativity to new places.”
The 2019 Volunteering Works program was made possible thanks to Wells Fargo Home Mortgage.
“Wells Fargo is delighted to join NAR in recognition of the volunteerism and leadership of REALTORS® who make a meaningful difference,” says Heidi Vogel, interim executive director of Wells Fargo Foundation housing philanthropy initiatives. “We applaud all the REALTORS® engaged in the Volunteering Works program since they directly contribute to the important work nonprofits do in their communities.”
The 2019 recipients of Volunteering Works grants and mentoring are: 
Hannah Ensor, RE/MAX Premier Properties, Louisville, Ky. In 2017, Hannah Ensor founded Baht Babies, a nonprofit organization that supplies educational materials, medical supplies and water filters to refugees and displaced persons on the Thailand/Burma border. She will receive guidance from 2018 Good Neighbor Elias Thomas of EXIT Key Real Estate in Shapleigh, Maine, who has led Rotary projects to build dams in India, on how to generate awareness and motivate more people to volunteer. 
Michael Hunstad, ABR, e-PRO, CRS, SFR, Broker, Counselor Realty, Anoka, Minn. Since 2009, Michael Hunstad has turned a small holiday gift program funded by his local association into Toys for Joy, which ensures thousands of children have gifts under their Christmas tree. Each year, he helps raise $45,000 and spearheads a backpack collection and birthday club for children in need. Hunstad will seek advice from 2017 Good Neighbor Louise McLean of RE/MAX Solutions in Merritt Island, Fla., co-founder of Space Coast REALTORS® Charitable Foundation, on strategic planning, expanding programs and recruiting volunteers. 
Stephanie Mitchum, ABR, Coldwell Banker, Wallace & Wallace, Knoxville, Tenn. In 2017, Stephanie Mitchum founded Love & Mercy Ministries to reach homeless inner-city teens. She meets every Monday with 10-25 at-risk teenagers to help them establish personal goals and gain stability. Today, two teens are in college, four have been awarded college scholarships and two are in rehab. She helped 18 get state IDs and birth certificates so they can seek employment and housing. She will receive guidance from her mentor, 2007 Good Neighbor Bert Waugh of Prudential Northwest Properties in Portland, Ore., founder of Transitional Youth, to recruit mentors and become a more effective ministry.   
Candice Payne, 5th Group Realty & Management, Chicago, Ill. In 2017, Candice Payne’s desire to protect the homeless from plunging temperatures during Chicago’s Polar Vortex led her to rent hotel rooms that housed more than 122 people. That act of kindness resulted in national publicity and an influx of donations that will enable her new nonprofit, Action For a Cause, to turn shipping containers into tiny homes on donated land. She will receive guidance from her mentor, 2017 Good Neighbor Mony Nop of Compass in Danville, Calif., founder of Mony Nop Foundation and co-founder of Tri-Valley Nonprofit Alliance, on how to build an effective working board of directors. 
Alicia Stukes, iGoldenone Realty and Concierge LLC, Upper Marlboro, Md.For three years, Alicia Stukes, founder and CEO of I’m Bruised But Not Broken LLC, has provided services and resources to victims and survivors of domestic violence in Prince George’s and Anne Arundel counties. Stukes’ goal is to collaborate with other nonprofits to service the entire state of Maryland. She will seek guidance from her mentor, 2015 Good Neighbor Ida Petkus of Keller Williams at the Lakes in Celebration, Fla., founder of Domestic Violence Advocacy Center, to expand the grassroots nonprofit, increase fundraising and improve community outreach.
To learn more about Volunteering Works or the Good Neighbor Awards, go to www.nar.realtor/gna.
The post Volunteering Works Program Announces 2019 Mentoring and Grant Recipients appeared first on RISMedia.
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yourchoicepage · 6 years
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February Monthly Radar
[Note from editor: We publish a Weekly Radar for Geek Estate Mastermind members with a range of curated links and analysis/commentary that comes out every Friday morning along with member news to peruse. This is a wrap-up for the month of February with a couple articles from each week.]
Mastermind Summary
In February, Geek Estate hosted a meetup in San Francisco that included execs from VerbHouse, Divvy Homes, Red Oak Realty, Side (formerly Reside), and zeehaus, and Upnest. Thanks to Kristina McCann and Pierre Calzadilla for their help organizing.
– Drew Meyers
New Members
Chris Kono from Westward Capital Group
Scott Roh from First Weber
Guy Gal from Side
Darryl Bosa from Bosa Properties
Ashley Farrugia from ActivePipe
Lee Weinstein from Brick Underground
Teri Rogers from Brick Underground
Richard Thomas from Rentl
Brian Adams from Hood Homes Blog
Courtney Cooper from Alate Partners
Stephen Del Percio from AECOM
Member News
Congrats to Kris Cone and HomeDiary for shipping their iOS app.
Huge congratulations to Zvi for the company’s exit to Compass.
Second Century Ventures Launches REach® Commercial Accelerator.
National Association of Realtors® Announced Glenn Shimkus as their Technology Team Leader.
Rich Barton is back at the helm as CEO of Zillow Group.
Compass will send listings to the newly launched New York MLS (locked).
Alain Pinel Realtors Launched a Charitable Foundation.
Congrats to Lion & Orb for their partnership with real estate marketing firm Luxury Presence!
RE/MAX Alliance Launches Buyside. Well done Charles Williams and the team for another amazing partnership.
Simon Chen & team’s “Feed the Need” campaign collected over 53,506 pounds of non-perishable food items (44,588 meals). Props!
Transmission Topics
Operators are the Future of Alternative Lodging
Certainty by Verification
Brokerage’s Mission Should be Ushering in the American Dream 2.0
Uberizing Real Estate with Zillow Offers
FEBRUARY MONTHLY RADAR
There are 5 links and analysis included. While we published the full November Monthly Radar, going forward we’re only delivering the full version via email. If you’d like to receive the February Monthly Radar (for free), ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings by tomorrow morning.
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Membership is $97 / quarter
OUR MEMBERS PROMISE
We deliver an exclusive, objective lens into the trends, companies, people, and ideas shaping real estate technology with thought-provoking analysis and conversations that keep you inspired every week.
We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.
We enable discovery and meeting others with shared interests online and in person (whether they live near you or are traveling to the same conference).
We’re looking for the best and brightest founders, operators, innovators, & investors in the industry…
READY TO JOIN RIGHT NOW?
Apply for Membership
To receive the Monthly Transmission & Radar going forward, please ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings. The full versions are NOT posted on the blog.
Update Settings
The post February Monthly Radar appeared first on GeekEstate Blog.
February Monthly Radar published first on https://medium.com/@YourChoice
0 notes
brettseaton · 6 years
Text
February Monthly Radar
[Note from editor: We publish a Weekly Radar for Geek Estate Mastermind members with a range of curated links and analysis/commentary that comes out every Friday morning along with member news to peruse. This is a wrap-up for the month of February with a couple articles from each week.]
Mastermind Summary
In February, Geek Estate hosted a meetup in San Francisco that included execs from VerbHouse, Divvy Homes, Red Oak Realty, Side (formerly Reside), and zeehaus, and Upnest. Thanks to Kristina McCann and Pierre Calzadilla for their help organizing.
– Drew Meyers
New Members
Chris Kono from Westward Capital Group
Scott Roh from First Weber
Guy Gal from Side
Darryl Bosa from Bosa Properties
Ashley Farrugia from ActivePipe
Lee Weinstein from Brick Underground
Teri Rogers from Brick Underground
Richard Thomas from Rentl
Brian Adams from Hood Homes Blog
Courtney Cooper from Alate Partners
Stephen Del Percio from AECOM
Member News
Congrats to Kris Cone and HomeDiary for shipping their iOS app.
Huge congratulations to Zvi for the company’s exit to Compass.
Second Century Ventures Launches REach® Commercial Accelerator.
National Association of Realtors® Announced Glenn Shimkus as their Technology Team Leader.
Rich Barton is back at the helm as CEO of Zillow Group.
Compass will send listings to the newly launched New York MLS (locked).
Alain Pinel Realtors Launched a Charitable Foundation.
Congrats to Lion & Orb for their partnership with real estate marketing firm Luxury Presence!
RE/MAX Alliance Launches Buyside. Well done Charles Williams and the team for another amazing partnership.
Simon Chen & team’s “Feed the Need” campaign collected over 53,506 pounds of non-perishable food items (44,588 meals). Props!
Transmission Topics
Operators are the Future of Alternative Lodging
Certainty by Verification
Brokerage’s Mission Should be Ushering in the American Dream 2.0
Uberizing Real Estate with Zillow Offers
FEBRUARY MONTHLY RADAR
There are 5 links and analysis included. While we published the full November Monthly Radar, going forward we’re only delivering the full version via email. If you’d like to receive the February Monthly Radar (for free), ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings by tomorrow morning.
Update Settings
GEEK ESTATE MASTERMIND BRIEFING
A PRIVATE GROUP OF INDEPENDENT THINKERS, FREE FROM SPONSORED MESSAGES, SALES PITCHES AND NOISE
There are four parts to membership:
Long form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war (Weekly Transmission). A sample Transmission is here.
Curated real estate, startups, & built world links & analysis blended with out of the box ideas (Weekly Radar). A sample of the links and analysis is here.
Special reports (our first is a category review of Small Landlord Prop Mgmt Software).
Networking opportunities with 145+ innovators from across the globe through the private forum & in-person gatherings.
Membership is $97 / quarter
OUR MEMBERS PROMISE
We deliver an exclusive, objective lens into the trends, companies, people, and ideas shaping real estate technology with thought-provoking analysis and conversations that keep you inspired every week.
We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.
We enable discovery and meeting others with shared interests online and in person (whether they live near you or are traveling to the same conference).
We’re looking for the best and brightest founders, operators, innovators, & investors in the industry…
READY TO JOIN RIGHT NOW?
Apply for Membership
To receive the Monthly Transmission & Radar going forward, please ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings. The full versions are NOT posted on the blog.
Update Settings
The post February Monthly Radar appeared first on GeekEstate Blog.
February Monthly Radar syndicated from https://oicrealestate.wordpress.com/
0 notes
theokbrowne · 6 years
Text
February Monthly Radar
[Note from editor: We publish a Weekly Radar for Geek Estate Mastermind members with a range of curated links and analysis/commentary that comes out every Friday morning along with member news to peruse. This is a wrap-up for the month of February with a couple articles from each week.]
Mastermind Summary
In February, Geek Estate hosted a meetup in San Francisco that included execs from VerbHouse, Divvy Homes, Red Oak Realty, Side (formerly Reside), and zeehaus, and Upnest. Thanks to Kristina McCann and Pierre Calzadilla for their help organizing.
– Drew Meyers
New Members
Chris Kono from Westward Capital Group
Scott Roh from First Weber
Guy Gal from Side
Darryl Bosa from Bosa Properties
Ashley Farrugia from ActivePipe
Lee Weinstein from Brick Underground
Teri Rogers from Brick Underground
Richard Thomas from Rentl
Brian Adams from Hood Homes Blog
Courtney Cooper from Alate Partners
Stephen Del Percio from AECOM
Member News
Congrats to Kris Cone and HomeDiary for shipping their iOS app.
Huge congratulations to Zvi for the company’s exit to Compass.
Second Century Ventures Launches REach® Commercial Accelerator.
National Association of Realtors® Announced Glenn Shimkus as their Technology Team Leader.
Rich Barton is back at the helm as CEO of Zillow Group.
Compass will send listings to the newly launched New York MLS (locked).
Alain Pinel Realtors Launched a Charitable Foundation.
Congrats to Lion & Orb for their partnership with real estate marketing firm Luxury Presence!
RE/MAX Alliance Launches Buyside. Well done Charles Williams and the team for another amazing partnership.
Simon Chen & team’s “Feed the Need” campaign collected over 53,506 pounds of non-perishable food items (44,588 meals). Props!
Transmission Topics
Operators are the Future of Alternative Lodging
Certainty by Verification
Brokerage’s Mission Should be Ushering in the American Dream 2.0
Uberizing Real Estate with Zillow Offers
FEBRUARY MONTHLY RADAR
There are 5 links and analysis included. While we published the full November Monthly Radar, going forward we’re only delivering the full version via email. If you’d like to receive the February Monthly Radar (for free), ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings by tomorrow morning.
Update Settings
GEEK ESTATE MASTERMIND BRIEFING
A PRIVATE GROUP OF INDEPENDENT THINKERS, FREE FROM SPONSORED MESSAGES, SALES PITCHES AND NOISE
There are four parts to membership:
Long form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war (Weekly Transmission). A sample Transmission is here.
Curated real estate, startups, & built world links & analysis blended with out of the box ideas (Weekly Radar). A sample of the links and analysis is here.
Special reports (our first is a category review of Small Landlord Prop Mgmt Software).
Networking opportunities with 145+ innovators from across the globe through the private forum & in-person gatherings.
Membership is $97 / quarter
OUR MEMBERS PROMISE
We deliver an exclusive, objective lens into the trends, companies, people, and ideas shaping real estate technology with thought-provoking analysis and conversations that keep you inspired every week.
We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.
We enable discovery and meeting others with shared interests online and in person (whether they live near you or are traveling to the same conference).
We’re looking for the best and brightest founders, operators, innovators, & investors in the industry…
READY TO JOIN RIGHT NOW?
Apply for Membership
To receive the Monthly Transmission & Radar going forward, please ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings. The full versions are NOT posted on the blog.
Update Settings
The post February Monthly Radar appeared first on GeekEstate Blog.
from theokbrowne digest https://geekestateblog.com/february-monthly-radar/
0 notes
cleancutpage · 6 years
Text
February Monthly Radar
[Note from editor: We publish a Weekly Radar for Geek Estate Mastermind members with a range of curated links and analysis/commentary that comes out every Friday morning along with member news to peruse. This is a wrap-up for the month of February with a couple articles from each week.]
Mastermind Summary
In February, Geek Estate hosted a meetup in San Francisco that included execs from VerbHouse, Divvy Homes, Red Oak Realty, Side (formerly Reside), and zeehaus, and Upnest. Thanks to Kristina McCann and Pierre Calzadilla for their help organizing.
– Drew Meyers
New Members
Chris Kono from Westward Capital Group
Scott Roh from First Weber
Guy Gal from Side
Darryl Bosa from Bosa Properties
Ashley Farrugia from ActivePipe
Lee Weinstein from Brick Underground
Teri Rogers from Brick Underground
Richard Thomas from Rentl
Brian Adams from Hood Homes Blog
Courtney Cooper from Alate Partners
Stephen Del Percio from AECOM
Member News
Congrats to Kris Cone and HomeDiary for shipping their iOS app.
Huge congratulations to Zvi for the company’s exit to Compass.
Second Century Ventures Launches REach® Commercial Accelerator.
National Association of Realtors® Announced Glenn Shimkus as their Technology Team Leader.
Rich Barton is back at the helm as CEO of Zillow Group.
Compass will send listings to the newly launched New York MLS (locked).
Alain Pinel Realtors Launched a Charitable Foundation.
Congrats to Lion & Orb for their partnership with real estate marketing firm Luxury Presence!
RE/MAX Alliance Launches Buyside. Well done Charles Williams and the team for another amazing partnership.
Simon Chen & team’s “Feed the Need” campaign collected over 53,506 pounds of non-perishable food items (44,588 meals). Props!
Transmission Topics
Operators are the Future of Alternative Lodging
Certainty by Verification
Brokerage’s Mission Should be Ushering in the American Dream 2.0
Uberizing Real Estate with Zillow Offers
FEBRUARY MONTHLY RADAR
There are 5 links and analysis included. While we published the full November Monthly Radar, going forward we’re only delivering the full version via email. If you’d like to receive the February Monthly Radar (for free), ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings by tomorrow morning.
Update Settings
GEEK ESTATE MASTERMIND BRIEFING
A PRIVATE GROUP OF INDEPENDENT THINKERS, FREE FROM SPONSORED MESSAGES, SALES PITCHES AND NOISE
There are four parts to membership:
Long form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war (Weekly Transmission). A sample Transmission is here.
Curated real estate, startups, & built world links & analysis blended with out of the box ideas (Weekly Radar). A sample of the links and analysis is here.
Special reports (our first is a category review of Small Landlord Prop Mgmt Software).
Networking opportunities with 145+ innovators from across the globe through the private forum & in-person gatherings.
Membership is $97 / quarter
OUR MEMBERS PROMISE
We deliver an exclusive, objective lens into the trends, companies, people, and ideas shaping real estate technology with thought-provoking analysis and conversations that keep you inspired every week.
We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.
We enable discovery and meeting others with shared interests online and in person (whether they live near you or are traveling to the same conference).
We’re looking for the best and brightest founders, operators, innovators, & investors in the industry…
READY TO JOIN RIGHT NOW?
Apply for Membership
To receive the Monthly Transmission & Radar going forward, please ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings. The full versions are NOT posted on the blog.
Update Settings
The post February Monthly Radar appeared first on GeekEstate Blog.
February Monthly Radar published first on https://greatlivinghomespage.tumblr.com/
0 notes
clarencevancleave · 6 years
Text
February Monthly Radar
[Note from editor: We publish a Weekly Radar for Geek Estate Mastermind members with a range of curated links and analysis/commentary that comes out every Friday morning along with member news to peruse. This is a wrap-up for the month of February with a couple articles from each week.]
Mastermind Summary
In February, Geek Estate hosted a meetup in San Francisco that included execs from VerbHouse, Divvy Homes, Red Oak Realty, Side (formerly Reside), and zeehaus, and Upnest. Thanks to Kristina McCann and Pierre Calzadilla for their help organizing.
– Drew Meyers
New Members
Chris Kono from Westward Capital Group
Scott Roh from First Weber
Guy Gal from Side
Darryl Bosa from Bosa Properties
Ashley Farrugia from ActivePipe
Lee Weinstein from Brick Underground
Teri Rogers from Brick Underground
Richard Thomas from Rentl
Brian Adams from Hood Homes Blog
Courtney Cooper from Alate Partners
Stephen Del Percio from AECOM
Member News
Congrats to Kris Cone and HomeDiary for shipping their iOS app.
Huge congratulations to Zvi for the company’s exit to Compass.
Second Century Ventures Launches REach® Commercial Accelerator.
National Association of Realtors® Announced Glenn Shimkus as their Technology Team Leader.
Rich Barton is back at the helm as CEO of Zillow Group.
Compass will send listings to the newly launched New York MLS (locked).
Alain Pinel Realtors Launched a Charitable Foundation.
Congrats to Lion & Orb for their partnership with real estate marketing firm Luxury Presence!
RE/MAX Alliance Launches Buyside. Well done Charles Williams and the team for another amazing partnership.
Simon Chen & team’s “Feed the Need” campaign collected over 53,506 pounds of non-perishable food items (44,588 meals). Props!
Transmission Topics
Operators are the Future of Alternative Lodging
Certainty by Verification
Brokerage’s Mission Should be Ushering in the American Dream 2.0
Uberizing Real Estate with Zillow Offers
FEBRUARY MONTHLY RADAR
There are 5 links and analysis included. While we published the full November Monthly Radar, going forward we’re only delivering the full version via email. If you’d like to receive the February Monthly Radar (for free), ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings by tomorrow morning.
Update Settings
GEEK ESTATE MASTERMIND BRIEFING
A PRIVATE GROUP OF INDEPENDENT THINKERS, FREE FROM SPONSORED MESSAGES, SALES PITCHES AND NOISE
There are four parts to membership:
Long form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war (Weekly Transmission). A sample Transmission is here.
Curated real estate, startups, & built world links & analysis blended with out of the box ideas (Weekly Radar). A sample of the links and analysis is here.
Special reports (our first is a category review of Small Landlord Prop Mgmt Software).
Networking opportunities with 145+ innovators from across the globe through the private forum & in-person gatherings.
Membership is $97 / quarter
OUR MEMBERS PROMISE
We deliver an exclusive, objective lens into the trends, companies, people, and ideas shaping real estate technology with thought-provoking analysis and conversations that keep you inspired every week.
We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.
We enable discovery and meeting others with shared interests online and in person (whether they live near you or are traveling to the same conference).
We’re looking for the best and brightest founders, operators, innovators, & investors in the industry…
READY TO JOIN RIGHT NOW?
Apply for Membership
To receive the Monthly Transmission & Radar going forward, please ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings. The full versions are NOT posted on the blog.
Update Settings
The post February Monthly Radar appeared first on GeekEstate Blog.
from RSSMix.com Mix ID 8230574 https://ift.tt/2u7T1uh via IFTTT
0 notes
juditmiltz · 6 years
Text
Brokerage hopping
(Illustration by Dawid Ryski)
“It’s an easy entry business and therefore an easy exit business,” Mike Pappas, CEO and president of The Keyes Company/Illustrated Properties told TRD, articulating an intrinsic truth about the residential brokerage business that veterans of the industry know all too well.
Brokers largely credit the industry’s characteristically high rate of turnover to the constant influx of new professionals into the field. But experienced agents, too, contribute to the high rates of comings and goings, hopscotching from one brokerage to another as they search for higher commissions or a change in culture. And a recent spate of brokerage acquisitions by larger firms may also have contributed to a higher churn, with some agents opting out when their company comes under new ownership.
“Miami, in particular, has always been very active with agent movement,” said Beth Butler, Compass’ general manager of Florida. “Agents are smart, they’re savvy, always looking for a good deal.” 
To determine which firms were seeing the most gains and losses of agents, The Real Deal analyzed the rate of agent turnover at South Florida’s top 20 brokerages using a formula determined by the U.S. Department of Labor. The rate is based on the total number of agents who were with the firm in June 2017 but not in October 2018, divided by the firm’s average size over that period. The 20 firms included were determined by dollar volume of sales of homes priced at over $3 million between August 2017 and July 2018, as reported in TRD’s fall 2018 top brokerage ranking. Only brokerages with 30 agents or more were considered.
The results of the analysis show a wide range of turnover figures, from as high as 39 percent to less than 3 percent. But a high rate isn’t necessarily bad and a low rate isn’t necessarily good. A firm’s turnover rate largely depends on its overall philosophy. Some, such as The Keyes Company/Illustrated Properties, prioritize efforts to increase agent rosters, believing that the business’ success largely depends on recruiting new agents as a key to boosting sales volume and revenue.
“There is a direct correlation between the number of associates and market share,” said Pappas. His company ranks as the largest brokerage in South Florida, with nearly 3,000 agents, according to TRD’s analysis.
Others disagree with that approach, believing that the sheer number of agents does not guarantee sales. With a turnover rate of 24.7 percent, Douglas Elliman is less growth-focused, according to Jay Parker, CEO of the Florida brokerage.
“Our focus at Douglas Elliman is not based on growth for growth’s sake,” Parker said, adding that he has no target figure for the number of agents the firm wants to have in South Florida.
As Miami’s resi market enjoys a bump — with the number of third-quarter sales up 11.1 percent from the same time in 2017, according to a recent Douglas Elliman market report — amid a buyer’s market, brokerage leaders discuss what makes their agents stay put and how acquisitions have impacted the rates of resignations, hirings and firings. 
The interlopers
The bulk of turnover at resi agencies revolves around those who get into the field and then get out of it just as quickly, most brokerage leaders concurred.
From January 2017 through November of this year, more than 52,000 new professionals got licenses to sell real estate in Florida, according to the Florida Department of Business and Professional Regulation. A total of 272,578 agents held active licenses statewide at the end of fiscal 2017, the department’s most recent figures show.
“There are always people transitioning in and out of our industry,” Ron Shuffield, president and CEO of EWM Realty International said. “They are independent contractors and 100 percent commission, and some people like that and excel at that, and others find it is not exactly what they thought.”
(Click to enlarge)
It’s easy to see why the field lures so many newbies every year. Brokerages in South Florida generally offer an 80/20 commission split between the agent and the firm, sources say. That can sometimes rise to 85 or 90 percent or more, depending on an agent’s sales.
Some brokerages, including United Realty Group, offer 100 percent commission and require only a $299 transaction fee per sale. That may explain why the firm added 833 new agents, the most of any brokerage, during the period TRD analyzed. United Realty Group did not respond to requests for comment.
But while commissions may be high in some places, many agents fail to close enough deals to make the career worthwhile, which leads to high turnover in the industry, experts said. According to the National Association of Realtors, among 1.3 million associates nationwide, 8 percent of Realtors did not make any sales last year, and another 19 percent only made between one and five sales.
A franchise of Keller Williams, The Tello Group, had the highest turnover of the firms analyzed, with a rate of 38.8 percent. Natascha Tello said the number largely reflects the industry norm of at least 30 percent attrition each year, which she said may be even higher in Florida. However, the TRD analysis found that only three other brokerages in the top 20 had a rate of 30 percent or more.
“Florida in general is a transient state — a lot of people come and go,” plus entry into the real estate profession is easily attainable, she said.
It’s those who have been in the industry for years who largely remain loyal to a firm, Pappas said. Overall, his firm’s top 10 associates average a tenure of 14 years, and the top 100 associates average more than 10 years with Keyes, he said.
The post-acquisition scramble
A number of acquisitions of smaller firms by bigger entities have effectively made many agents change firms at the very least in name only. Keyes, Compass and One Sotheby’s are among the firms that have made significant acquisitions in recent years, but most of the acquiring brokerages assert that the mergers haven’t made their brokers flee. Only a few of the smaller acquisitions occurred during the period studied in the TRD analysis.
Pappas said of 550 agents who joined Keyes as part of its 2016 merger with Illustrated Properties, only five have left.
Compass, which had a 14.5 percent turnover rate during the period TRD analyzed, is known to be aggressive in acquiring boutique brokerages, as well as in its recruiting efforts. In the past two years, the firm has acquired four local brokerages, which added a total of 120 agents to its roster. Butler said that all but five of the 29 agents who left during that time frame were either asked to leave due to low productivity or because they failed to pay dues or left the business.
But sometimes amid an acquisition, agents opt to leave rather than join the new, larger brokerage, brokers said.
“There is no guarantee that [brokers from the firm being acquired] are coming over,” said Phil Gutman, president of Brown Harris Stevens Miami, which had a 15 percent turnover rate over the period analyzed. “You have to have a meeting to sell them on why they should come over with you.”
Wrangling recruits
At TRD’s Miami Showcase & Forum in October, Compass CEO Robert Reffkin characterized his approach to recruitment by saying he’s like a “door knocker agent” who is “happy to pitch myself 10 times.”
Rather than hire agents who are new to the industry, Compass focuses on those with experience. The firm’s local “growth team” reaches out to connect with agents at other firms and also handles inbound inquiries.
“When we started, we did a lot more outreach,” Butler said. Now, agents reach out to Compass because they know an agent or hear about the firm’s growth, so only about 20 percent of new hires are from outreach efforts, she said.
Compass is far from the only firm looking to get the best and brightest to come over from other firms. At the Signature Real Estate Companies, based in Boca Raton, recruiting new agents is serious business.
Ben Schachter, broker and president of the firm, said it brings on 10 to 30 agents per month. About 70 percent join Signature from other brokerages, while 30 percent are new to the industry and newly licensed. The firm only extends an offer to about 48 percent of the candidates it interviews, and of those, about 87 percent join the firm, he said.
“We look for people who have a tremendously raging fire to be successful,” Schachter said.
Signature, which was formed 12-and-a-half years ago and now has nearly 800 agents, has a professional recruiter on staff who pursues agents on a target list based on tenure, volume of sales and geographic location. Yet most agents come as referrals from other agents, who earn 5 percent of the gross production the new agent brings in for the first 12 months, Schachter said.
Separating the wheat from the chaff
Of course, there are also instances where brokers aren’t cutting the mustard and must be shown the door. Douglas Elliman may also terminate agents if they do not meet the firm’s $3 million production standard each year, although there are exceptions, Parker said.
“We don’t want dead weight on our roster. For us, it’s not now many agents do we have, it’s how much business are we producing,” he said.
At Signature, agent performance is assessed every 90 days, including how many listings agents have generated and their professional development in terms of additional training and education.
“I fire as much as 20 percent of our workforce every single year because they are not producing,” Schachter said. During the time period TRD analyzed, Signature had a turnover of about 24 percent, and Schachter figures that of 170 agents who left, probably 100 to 125 were terminated during that time frame.
“If you want to hang your license and be left alone, we are not for you,” said Schachter.
And there are plenty of simpler reasons for departures: Some seasoned agents decide they don’t want the full-time job, or choose to relocate yet want to retain their licenses. Firms such as Douglas Elliman allow them to move into a separate but affiliated business as referral agents.
“We allow them to hold a license but they don’t have to pay insurance or dues,” said Parker. “They’re not actively selling real estate, but they can earn a referral fee, so we transfer them to our referral network.”
Parker estimates that about 60 agents transferred to that network during the 16-month period TRD analyzed, contributing to the firm’s 24.7 percent turnover rate during that time. In the analysis, brokers who transferred to a referral network counted as departures.
Regardless of industry hiring and firing practices, experts in the field expect the high degree of turnover to continue. At Compass, with offices stretching beyond South Florida to the west coast of Florida, Jacksonville and Orlando, Butler figures the firm will have at least 1,000 agents in the state by the end of 2019. Most of that growth will likely be through hiring individual agents and teams rather than acquiring brokerages, she said.
“All these new firms are certainly going to shake things up, and it’s already a market where people move very consistently,” Butler said. “It should continue to be an active recruiting environment.”
from The Real Deal Miami https://therealdeal.com/miami/issues_articles/brokerage-hopping/#new_tab via IFTTT
0 notes
cathrynstreich · 6 years
Text
February Monthly Radar
[Note from editor: We publish a Weekly Radar for Geek Estate Mastermind members with a range of curated links and analysis/commentary that comes out every Friday morning along with member news to peruse. This is a wrap-up for the month of February with a couple articles from each week.]
Mastermind Summary
In February, Geek Estate hosted a meetup in San Francisco that included execs from VerbHouse, Divvy Homes, Red Oak Realty, Side (formerly Reside), and zeehaus, and Upnest. Thanks to Kristina McCann and Pierre Calzadilla for their help organizing.
– Drew Meyers
New Members
Chris Kono from Westward Capital Group
Scott Roh from First Weber
Guy Gal from Side
Darryl Bosa from Bosa Properties
Ashley Farrugia from ActivePipe
Lee Weinstein from Brick Underground
Teri Rogers from Brick Underground
Richard Thomas from Rentl
Brian Adams from Hood Homes Blog
Courtney Cooper from Alate Partners
Stephen Del Percio from AECOM
Member News
Congrats to Kris Cone and HomeDiary for shipping their iOS app.
Huge congratulations to Zvi for the company’s exit to Compass.
Second Century Ventures Launches REach® Commercial Accelerator.
National Association of Realtors® Announced Glenn Shimkus as their Technology Team Leader.
Rich Barton is back at the helm as CEO of Zillow Group.
Compass will send listings to the newly launched New York MLS (locked).
Alain Pinel Realtors Launched a Charitable Foundation.
Congrats to Lion & Orb for their partnership with real estate marketing firm Luxury Presence!
RE/MAX Alliance Launches Buyside. Well done Charles Williams and the team for another amazing partnership.
Simon Chen & team’s “Feed the Need” campaign collected over 53,506 pounds of non-perishable food items (44,588 meals). Props!
Transmission Topics
Operators are the Future of Alternative Lodging
Certainty by Verification
Brokerage’s Mission Should be Ushering in the American Dream 2.0
Uberizing Real Estate with Zillow Offers
FEBRUARY MONTHLY RADAR
There are 5 links and analysis included. While we published the full November Monthly Radar, going forward we’re only delivering the full version via email. If you’d like to receive the February Monthly Radar (for free), ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings by tomorrow morning.
Update Settings
GEEK ESTATE MASTERMIND BRIEFING
A PRIVATE GROUP OF INDEPENDENT THINKERS, FREE FROM SPONSORED MESSAGES, SALES PITCHES AND NOISE
There are four parts to membership:
Long form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war (Weekly Transmission). A sample Transmission is here.
Curated real estate, startups, & built world links & analysis blended with out of the box ideas (Weekly Radar). A sample of the links and analysis is here.
Special reports (our first is a category review of Small Landlord Prop Mgmt Software).
Networking opportunities with 145+ innovators from across the globe through the private forum & in-person gatherings.
Membership is $97 / quarter
OUR MEMBERS PROMISE
We deliver an exclusive, objective lens into the trends, companies, people, and ideas shaping real estate technology with thought-provoking analysis and conversations that keep you inspired every week.
We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.
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February Monthly Radar published first on https://thegardenresidences.tumblr.com/
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valerielaboy · 3 years
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The U.S. entered 2021 with pandemic fatigue, though it hadn't -- and still hasn't -- slowed down homebuyer activity. https://www.yahoo.com/news/expect-housing-market-2021-155538251.html
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yourchoicepage · 6 years
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February Monthly Radar
[Note from editor: We publish a Weekly Radar for Geek Estate Mastermind members with a range of curated links and analysis/commentary that comes out every Friday morning along with member news to peruse. This is a wrap-up for the month of February with a couple articles from each week.]
Mastermind Summary
In February, Geek Estate hosted a meetup in San Francisco that included execs from VerbHouse, Divvy Homes, Red Oak Realty, Side (formerly Reside), and zeehaus, and Upnest. Thanks to Kristina McCann and Pierre Calzadilla for their help organizing.
– Drew Meyers
New Members
Chris Kono from Westward Capital Group
Scott Roh from First Weber
Guy Gal from Side
Darryl Bosa from Bosa Properties
Ashley Farrugia from ActivePipe
Lee Weinstein from Brick Underground
Teri Rogers from Brick Underground
Richard Thomas from Rentl
Brian Adams from Hood Homes Blog
Courtney Cooper from Alate Partners
Stephen Del Percio from AECOM
Member News
Congrats to Kris Cone and HomeDiary for shipping their iOS app.
Huge congratulations to Zvi for the company’s exit to Compass.
Second Century Ventures Launches REach® Commercial Accelerator.
National Association of Realtors® Announced Glenn Shimkus as their Technology Team Leader.
Rich Barton is back at the helm as CEO of Zillow Group.
Compass will send listings to the newly launched New York MLS (locked).
Alain Pinel Realtors Launched a Charitable Foundation.
Congrats to Lion & Orb for their partnership with real estate marketing firm Luxury Presence!
RE/MAX Alliance Launches Buyside. Well done Charles Williams and the team for another amazing partnership.
Simon Chen & team’s “Feed the Need” campaign collected over 53,506 pounds of non-perishable food items (44,588 meals). Props!
Transmission Topics
Operators are the Future of Alternative Lodging
Certainty by Verification
Brokerage’s Mission Should be Ushering in the American Dream 2.0
Uberizing Real Estate with Zillow Offers
FEBRUARY MONTHLY RADAR
There are 5 links and analysis included. While we published the full November Monthly Radar, going forward we’re only delivering the full version via email. If you’d like to receive the February Monthly Radar (for free), ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings by tomorrow morning.
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GEEK ESTATE MASTERMIND BRIEFING
A PRIVATE GROUP OF INDEPENDENT THINKERS, FREE FROM SPONSORED MESSAGES, SALES PITCHES AND NOISE
There are four parts to membership:
Long form articles covering the spectrum from shipping container co-living spaces to the battle for listing acquisition in the first iBuyer world war (Weekly Transmission). A sample Transmission is here.
Curated real estate, startups, & built world links & analysis blended with out of the box ideas (Weekly Radar). A sample of the links and analysis is here.
Special reports (our first is a category review of Small Landlord Prop Mgmt Software).
Networking opportunities with 145+ innovators from across the globe through the private forum & in-person gatherings.
Membership is $97 / quarter
OUR MEMBERS PROMISE
We deliver an exclusive, objective lens into the trends, companies, people, and ideas shaping real estate technology with thought-provoking analysis and conversations that keep you inspired every week.
We help you make better, more well-informed decisions to help grow and support people and companies making a difference in real estate.
We enable discovery and meeting others with shared interests online and in person (whether they live near you or are traveling to the same conference).
We’re looking for the best and brightest founders, operators, innovators, & investors in the industry…
READY TO JOIN RIGHT NOW?
Apply for Membership
To receive the Monthly Transmission & Radar going forward, please ensure “Receive Monthly Radar/Transmission” is set to YES in your email settings. The full versions are NOT posted on the blog.
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The post February Monthly Radar appeared first on GeekEstate Blog.
February Monthly Radar published first on https://medium.com/@YourChoice
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oestsetnochub · 6 years
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Caisse-backed Avision Young buys Florida real estate business
© 2019 Avison Young (Canada) Inc
Avison Young has acquired Front Street Commercial Real Estate Group, a Gainesville, Florida-based commercial real estate brokerage and property management company.
No financial terms were disclosed.
Avison, a Toronto-based provider of commercial real estate services, said the acquisition brings its U.S. offices to 59 in all. Over the past decade, the company’s worldwide network of offices has grown from 11 to 87.
Last year, Avison secured a $250 million preferred investment from Caisse de dépôt et placement du Québec. The deal facilitated the exit of Canadian mid-market private equity firm Parallel49 Equity.
PRESS RELEASE
Avison Young acquires Front Street Commercial Real Estate Group, expands presence in North Florida; 26 members join
Nick Banks becomes Principal and Managing Director of new Gainesville office
TORONTO, Jan. 24, 2019 /PRNewswire/ – Mark E. Rose, Chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has acquired Gainesville, Florida-based Front Street Commercial Real Estate Group, a full-service commercial real estate brokerage and property management company with operations throughout North Florida.
As a result of the acquisition, Avison Young opens its eighth Florida office, in Gainesville. The newest American office represents Avison Young’s 59th office in the U.S. and an additional step in the firm’s ongoing aggressive growth and expansion strategy. Terms of the transaction were not disclosed.
Effective immediately, Front Street is rebranded as Avison Young and 26 new members join the firm. Nick Banks becomes a Principal of Avison Young and Managing Director of the new Gainesville office. He will manage its day-to-day operations and lead the company’s strategic growth in Gainesville and across North Florida with a mandate to expand the company’s footprint, particularly in retail. He will also help Avison Young expand its service lines, particularly property management, in Jacksonville. Banks brings to Avison Young 25 years of commercial real estate experience, most recently as Managing Director of Front Street, which he founded in 2002.
“We are thrilled to be opening our first office in Gainesville and, at the same time, expanding our presence in North Florida,” comments Rose. “The acquisition of Front Street reinforces our strong foundation in Florida and assists our rollout in the northern area of the state, particularly in terms of retail brokerage and all aspects of property management. By bringing Nick and the rest of the Front Street team on board, we are adding individuals who are respected for their leadership, extensive industry experience and in-depth local and regional market knowledge. More importantly, they will fit seamlessly into our Principal-led, collaborative culture and provide a superior level of service to clients.”
Headquartered in Gainesville with additional satellite offices in Ocala, Sarasota, Jacksonville, Orlando and Tallahassee, Front Street serves a range of clients, from private individual investors to publicly traded corporations to international investment groups, in North Florida. The firm is a leader in the region’s commercial real estate market and offers services for all property types, including office, retail, flex/industrial and land. The company has developed particular expertise in retail property brokerage. Relationships with national retail brands as well as private and institutional owners of retail properties have fuelled the majority of the firm’s growth throughout North Florida.
Also joining Avison Young from Front Street are brokers Rick Cain, Jason Hurst, Gavin Johnson, Beau Broker, Nick Robinson, Mike Oransky, Tim Deardourff, Flavia Kanyago, Bobby Nickels, Jennie Bram, Andrew Smith, Keith Crutcher and Edmund Aramayo. Property management specialists joining are: Cheryl Carroll, Alex Ling, Terri Smaistrla, Fred Maccioli, David Sooy and Aaron Graham. Joining as administrative and marketing specialists are: Sue Fisher, Natascha Kehri, Virginia MacKoul, Sara Padgett, Dustin Walsh and Alexandra Morales.
Front Street currently manages 20 properties totaling more than 1 million square feet (msf) of office, retail, industrial and multi-family space, including hundreds of apartment units, in the North Florida region. Properties under management include Innovation Square, an affiliated entity of the University of Florida; and Tioga Town Center, a mixed-use town center consisting of approximately 150,000 sf of retail, office and multi-family units.
Today’s acquisition brings Avison Young’s total square feet of office, retail, industrial and multi-family properties under management in Florida to 19 msf. Avison Young has more than 120 msf of retail, industrial and office properties under management in North America.
“The Front Street team has established itself as a market leader throughout the North Florida region,” states Earl Webb, Avison Young President, U.S. Operations. “This acquisition will be highly beneficial to many of our occupier and investor clients throughout Florida. Front Street has built a high-quality service platform that provides creative real estate solutions, and Avison Young looks forward to growing our company’s presence in Gainesville, which we believe is an underserved market. Nick Banks has consistently provided excellent client service during his career while building a broad-based service platform at Front Street and other firms where he has worked. Additionally, the new team has a number of senior managers and brokers who will enhance our client-service capabilities in all asset classes and service lines.”
Front Street has earned a number of awards over the years, including No. 10 Fastest-growing Gator-owned or Gator-led Business in the World, from the University of Florida (2015); and Best Overall Small Business of the Year, from the Gainesville Area Chamber of Commerce (2014).
“With the opening of the new Gainesville office, Avison Young now has a strong presence in all of Florida’s regions,” notes Pike Rowley, Avison Young Principal and Managing Director of the company’s Florida region. “The acquisition of Front Street enables us to accomplish several goals as we attempt to expand Avison Young’s reach into North Florida and grow our retail service lines statewide. The Gainesville area has been a rapid-growth market in Florida, driven by the University of Florida and UF Health at Shands and the emerging industrial sector in Ocala.”
Rowley adds: “The acquisition enables us to bolster our retail service line in North Florida and, in one fell swoop, add brokerage and property management expertise in five other cities served by Front Street team members. Nick Banks is a strong leader who is deeply involved with the Gainesville business community. Furthermore, he is well-versed in the development and financial- underwriting area of the capital markets service line. He will be an integral member of our retail and capital markets practices.”
Effective immediately, Avison Young’s new Gainesville office is located at 132 NW 76th Drive.
“Our team has been humbled by the support we have received from clients and other stakeholders over the last 16 years as we have built the Front Street brand from scratch and then throughout North Florida,” says Banks. “We could not be happier about joining a company like Avison Young, whose collaborative culture and values match ours so perfectly. We are excited about being a part of a growing and entrepreneurial platform like Avison Young. We also look forward to discovering what the resources of a global, Principal-led company can do to enhance the service that we bring to our clients.”
Avison Young opened its first Florida offices in October 2012 in Fort Lauderdale, Boca Raton and Miami with Rowley joining as a Principal and Managing Director of the company’s Florida region. In May 2013, Avison Young acquired WG Compass Realty Cos. and opened a West Palm Beach office. In September 2013, Avison Young acquired Lane Witherspoon & Carswell Commercial Real Estate Advisors and opened a new office in Tampa. In November 2014, Avison Young acquired Morrison Commercial Real Estate and opened a new office in Orlando. In December 2014, Avison Young acquired Miami-based Abood Wood-Fay Real Estate Group. In April 2016, Avison Young announced a new office in Jacksonville.
Home to the University of Florida and Santa Fe College, Gainesville is well-known for its college-town atmosphere, including many shopping, dining and entertainment locations, as well as its highly talented workforce, live-work-play lifestyle, low unemployment and diverse economy. The city’s major industries include advanced manufacturing, education, healthcare, life sciences, IT, logistics, green technology and agriculture. Government also forms a large employment base and leading medical facilities offer numerous research, innovation and real estate-related business opportunities. According to the U.S. Bureau of Labor Statistics, Gainesville’s low unemployment rate (2.8% as of November 2018) sits below the state average.
Over the past 10 years, Avison Young has grown from 11 to, now, 87 offices in 78 markets and from 300 to more than 2,700 real estate professionals in Canada, the U.S., Mexico, Europe and Asia.
Today’s announcement follows Avison Young’s announcement on November 8, 2018 that it has entered into a definitive agreement to acquire U.K.-based GVA. Avison Young also opened its first office in Asia, in Seoul, South Korea, on November 1, 2018.
Biography
Nick Banks Nick Banks brings more than 25 years of commercial real estate industry experience to Avison Young. He was most recently Managing Director of Front Street Commercial Real Estate Group, which he founded in 2002. During the company’s first eight years, he developed and acquired office and retail projects in South Florida as well as in North and Central Florida. In 2010, he shifted the firm’s focus to third-party client service along with brokerage and property management services. Prior to founding Front Street, he was the director of finance and dispositions for Stiles Corporation in Fort Lauderdale, where he financed and sold more than $500 million worth of commercial properties. Before joining Stiles, he was an associate director at GE Capital Real Estate, where he sourced more than $200 million in financing throughout Florida.
Banks is a member of the International Council of Shopping Centers (ICSC), and founding co-chair of the Gainesville committee for the North Florida chapter of the Urban Land Institute (ULI). In the community, he serves as a member of the University of Florida Bergstrom Center for Real Estate Studies advisory and executive boards while also mentoring students and speaking at several of the school’s events. Earlier in 2018, Banks was named to the University of Florida Foundation’s national board. He recently served as the board chair for the United Way of North Central Florida and is actively involved with the Gainesville Area Chamber of Commerce, where he is a board member, executive committee member and committee member for the council for economic outreach. He is also a recent graduate of Leadership Gainesville, which is a year-long leadership program hosted by the chamber. Banks holds a Bachelor of Science degree in business administration with a major in finance as well as a concentration in real estate from the University of Florida.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,700 real estate professionals in 87 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
For further information/comment/photos:
Sherry Quan, Principal, Global Director of Communications & Media Relations, Avison Young: 604.647.5098; mobile: 604.726.0959 Mark Rose, Chair and CEO, Avison Young: 416.673.4028 Earl Webb, President, U.S. Operations, Avison Young: 312.957.7610 Pike Rowley, Principal and Managing Director, Florida, Avison Young: 954.938.1807 Nick Banks, Principal & Managing Director, Gainesville, Avison Young: 352.505.3884
Do you want exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more? Get your FREE trial to Buyouts! Or subscribe now!
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minocquagunclub · 6 years
Text
Caisse-backed Avision Young buys Florida real estate business
© 2019 Avison Young (Canada) Inc
Avison Young has acquired Front Street Commercial Real Estate Group, a Gainesville, Florida-based commercial real estate brokerage and property management company.
No financial terms were disclosed.
Avison, a Toronto-based provider of commercial real estate services, said the acquisition brings its U.S. offices to 59 in all. Over the past decade, the company’s worldwide network of offices has grown from 11 to 87.
Last year, Avison secured a $250 million preferred investment from Caisse de dépôt et placement du Québec. The deal facilitated the exit of Canadian mid-market private equity firm Parallel49 Equity.
PRESS RELEASE
Avison Young acquires Front Street Commercial Real Estate Group, expands presence in North Florida; 26 members join
Nick Banks becomes Principal and Managing Director of new Gainesville office
TORONTO, Jan. 24, 2019 /PRNewswire/ – Mark E. Rose, Chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has acquired Gainesville, Florida-based Front Street Commercial Real Estate Group, a full-service commercial real estate brokerage and property management company with operations throughout North Florida.
As a result of the acquisition, Avison Young opens its eighth Florida office, in Gainesville. The newest American office represents Avison Young’s 59th office in the U.S. and an additional step in the firm’s ongoing aggressive growth and expansion strategy. Terms of the transaction were not disclosed.
Effective immediately, Front Street is rebranded as Avison Young and 26 new members join the firm. Nick Banks becomes a Principal of Avison Young and Managing Director of the new Gainesville office. He will manage its day-to-day operations and lead the company’s strategic growth in Gainesville and across North Florida with a mandate to expand the company’s footprint, particularly in retail. He will also help Avison Young expand its service lines, particularly property management, in Jacksonville. Banks brings to Avison Young 25 years of commercial real estate experience, most recently as Managing Director of Front Street, which he founded in 2002.
“We are thrilled to be opening our first office in Gainesville and, at the same time, expanding our presence in North Florida,” comments Rose. “The acquisition of Front Street reinforces our strong foundation in Florida and assists our rollout in the northern area of the state, particularly in terms of retail brokerage and all aspects of property management. By bringing Nick and the rest of the Front Street team on board, we are adding individuals who are respected for their leadership, extensive industry experience and in-depth local and regional market knowledge. More importantly, they will fit seamlessly into our Principal-led, collaborative culture and provide a superior level of service to clients.”
Headquartered in Gainesville with additional satellite offices in Ocala, Sarasota, Jacksonville, Orlando and Tallahassee, Front Street serves a range of clients, from private individual investors to publicly traded corporations to international investment groups, in North Florida. The firm is a leader in the region’s commercial real estate market and offers services for all property types, including office, retail, flex/industrial and land. The company has developed particular expertise in retail property brokerage. Relationships with national retail brands as well as private and institutional owners of retail properties have fuelled the majority of the firm’s growth throughout North Florida.
Also joining Avison Young from Front Street are brokers Rick Cain, Jason Hurst, Gavin Johnson, Beau Broker, Nick Robinson, Mike Oransky, Tim Deardourff, Flavia Kanyago, Bobby Nickels, Jennie Bram, Andrew Smith, Keith Crutcher and Edmund Aramayo. Property management specialists joining are: Cheryl Carroll, Alex Ling, Terri Smaistrla, Fred Maccioli, David Sooy and Aaron Graham. Joining as administrative and marketing specialists are: Sue Fisher, Natascha Kehri, Virginia MacKoul, Sara Padgett, Dustin Walsh and Alexandra Morales.
Front Street currently manages 20 properties totaling more than 1 million square feet (msf) of office, retail, industrial and multi-family space, including hundreds of apartment units, in the North Florida region. Properties under management include Innovation Square, an affiliated entity of the University of Florida; and Tioga Town Center, a mixed-use town center consisting of approximately 150,000 sf of retail, office and multi-family units.
Today’s acquisition brings Avison Young’s total square feet of office, retail, industrial and multi-family properties under management in Florida to 19 msf. Avison Young has more than 120 msf of retail, industrial and office properties under management in North America.
“The Front Street team has established itself as a market leader throughout the North Florida region,” states Earl Webb, Avison Young President, U.S. Operations. “This acquisition will be highly beneficial to many of our occupier and investor clients throughout Florida. Front Street has built a high-quality service platform that provides creative real estate solutions, and Avison Young looks forward to growing our company’s presence in Gainesville, which we believe is an underserved market. Nick Banks has consistently provided excellent client service during his career while building a broad-based service platform at Front Street and other firms where he has worked. Additionally, the new team has a number of senior managers and brokers who will enhance our client-service capabilities in all asset classes and service lines.”
Front Street has earned a number of awards over the years, including No. 10 Fastest-growing Gator-owned or Gator-led Business in the World, from the University of Florida (2015); and Best Overall Small Business of the Year, from the Gainesville Area Chamber of Commerce (2014).
“With the opening of the new Gainesville office, Avison Young now has a strong presence in all of Florida’s regions,” notes Pike Rowley, Avison Young Principal and Managing Director of the company’s Florida region. “The acquisition of Front Street enables us to accomplish several goals as we attempt to expand Avison Young’s reach into North Florida and grow our retail service lines statewide. The Gainesville area has been a rapid-growth market in Florida, driven by the University of Florida and UF Health at Shands and the emerging industrial sector in Ocala.”
Rowley adds: “The acquisition enables us to bolster our retail service line in North Florida and, in one fell swoop, add brokerage and property management expertise in five other cities served by Front Street team members. Nick Banks is a strong leader who is deeply involved with the Gainesville business community. Furthermore, he is well-versed in the development and financial- underwriting area of the capital markets service line. He will be an integral member of our retail and capital markets practices.”
Effective immediately, Avison Young’s new Gainesville office is located at 132 NW 76th Drive.
“Our team has been humbled by the support we have received from clients and other stakeholders over the last 16 years as we have built the Front Street brand from scratch and then throughout North Florida,” says Banks. “We could not be happier about joining a company like Avison Young, whose collaborative culture and values match ours so perfectly. We are excited about being a part of a growing and entrepreneurial platform like Avison Young. We also look forward to discovering what the resources of a global, Principal-led company can do to enhance the service that we bring to our clients.”
Avison Young opened its first Florida offices in October 2012 in Fort Lauderdale, Boca Raton and Miami with Rowley joining as a Principal and Managing Director of the company’s Florida region. In May 2013, Avison Young acquired WG Compass Realty Cos. and opened a West Palm Beach office. In September 2013, Avison Young acquired Lane Witherspoon & Carswell Commercial Real Estate Advisors and opened a new office in Tampa. In November 2014, Avison Young acquired Morrison Commercial Real Estate and opened a new office in Orlando. In December 2014, Avison Young acquired Miami-based Abood Wood-Fay Real Estate Group. In April 2016, Avison Young announced a new office in Jacksonville.
Home to the University of Florida and Santa Fe College, Gainesville is well-known for its college-town atmosphere, including many shopping, dining and entertainment locations, as well as its highly talented workforce, live-work-play lifestyle, low unemployment and diverse economy. The city’s major industries include advanced manufacturing, education, healthcare, life sciences, IT, logistics, green technology and agriculture. Government also forms a large employment base and leading medical facilities offer numerous research, innovation and real estate-related business opportunities. According to the U.S. Bureau of Labor Statistics, Gainesville’s low unemployment rate (2.8% as of November 2018) sits below the state average.
Over the past 10 years, Avison Young has grown from 11 to, now, 87 offices in 78 markets and from 300 to more than 2,700 real estate professionals in Canada, the U.S., Mexico, Europe and Asia.
Today’s announcement follows Avison Young’s announcement on November 8, 2018 that it has entered into a definitive agreement to acquire U.K.-based GVA. Avison Young also opened its first office in Asia, in Seoul, South Korea, on November 1, 2018.
Biography
Nick Banks Nick Banks brings more than 25 years of commercial real estate industry experience to Avison Young. He was most recently Managing Director of Front Street Commercial Real Estate Group, which he founded in 2002. During the company’s first eight years, he developed and acquired office and retail projects in South Florida as well as in North and Central Florida. In 2010, he shifted the firm’s focus to third-party client service along with brokerage and property management services. Prior to founding Front Street, he was the director of finance and dispositions for Stiles Corporation in Fort Lauderdale, where he financed and sold more than $500 million worth of commercial properties. Before joining Stiles, he was an associate director at GE Capital Real Estate, where he sourced more than $200 million in financing throughout Florida.
Banks is a member of the International Council of Shopping Centers (ICSC), and founding co-chair of the Gainesville committee for the North Florida chapter of the Urban Land Institute (ULI). In the community, he serves as a member of the University of Florida Bergstrom Center for Real Estate Studies advisory and executive boards while also mentoring students and speaking at several of the school’s events. Earlier in 2018, Banks was named to the University of Florida Foundation’s national board. He recently served as the board chair for the United Way of North Central Florida and is actively involved with the Gainesville Area Chamber of Commerce, where he is a board member, executive committee member and committee member for the council for economic outreach. He is also a recent graduate of Leadership Gainesville, which is a year-long leadership program hosted by the chamber. Banks holds a Bachelor of Science degree in business administration with a major in finance as well as a concentration in real estate from the University of Florida.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,700 real estate professionals in 87 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
For further information/comment/photos:
Sherry Quan, Principal, Global Director of Communications & Media Relations, Avison Young: 604.647.5098; mobile: 604.726.0959 Mark Rose, Chair and CEO, Avison Young: 416.673.4028 Earl Webb, President, U.S. Operations, Avison Young: 312.957.7610 Pike Rowley, Principal and Managing Director, Florida, Avison Young: 954.938.1807 Nick Banks, Principal & Managing Director, Gainesville, Avison Young: 352.505.3884
Do you want exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more? Get your FREE trial to Buyouts! Or subscribe now!
Source Article
The post Caisse-backed Avision Young buys Florida real estate business appeared first on oestsetnochub.
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