Real Estate

Real Estate Commission Settlement May Shift Luxury Market Practices

The way home buyers and sellers pay real estate agents in the U.S. could change as a result of a ruling last month against the National Association of Realtors, but many industry insiders expect a far less dramatic effect on the luxury segment of the housing market. 

Rumors are flying about real estate agent commissions dropping overnight, home prices declining and a new world order for the industry after a $418 million legal settlement—along with policy changes—by the NAR in response to a massive lawsuit. Whatever the ultimate changes, they’ll likely have a lesser effect on the higher end by virtue of sellers and buyers having more means and, in many cases, experience at the negotiating table.

“Everyone is speculating right now, but my best guess is that this will be far less impactful than people think,” said Brian Boero, co-founder of 1000watt, a real estate branding and strategy firm

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Real Estate

The Future of Luxury Real Estate Is Going Global! eXp Luxury Launches in Australia, New Zealand, South Africa and the United Kingdom

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BELLINGHAM, Wash., Dec. 07, 2023 (GLOBE NEWSWIRE) — eXp Realty, “the most agent-centric real estate brokerage on the planet™” and a core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), proudly announces the continued expansion of its luxury real estate program, eXp Luxury, into the dynamic

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Real Estate

Foreign Buyers and a Tourism Boom Are Fueling Japan’s Luxury Real Estate Market

If the array of climates, landscapes, world-class culture, food and history aren’t tempting enough, Japan offers second-home buyers strong value compared to other Asian markets. 

As of Oct. 25, 1 yen was worth US$0.0067, reaching only a high of US$0.10 in the past three years. This helps money stretch further, even on luxury properties. In its 2023 annual wealth report, London-based real estate consultancy Knight Frank reported buyers with US$1 million to spend can purchase 60 square meters, or 636 square feet, of prime property in Tokyo, almost double of what they can get in New York or Singapore and nearly triple that of Hong Kong.

Right now luxury is on the mind of buyers in Japan as the sector grows in a manner not seen before. Traditionally, Japanese buyers have lived in modest dwellings, said Michael Chen, CEO of Hokkaido-based real estate company H2 Group.

It’s only in the

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Real Estate

The luxury real estate portfolio of the looters of Venezuela’s state oil company: 21 homes valued at $52 million | International

Luxury homes, penthouses and apartments in dream skyscrapers. The former Chavista leaders – who looted more than $2 billion from Petróleos de Venezuela, SA (PDVSA) – put some of their ill-gotten gains in a real estate portfolio of 21 exclusive properties, which are valued at around $52 million. This is according to a confidential report from the Financial Intelligence Unit of Andorra (UIFAND), to which EL PAÍS has had access.

The criminal network made these investments while carrying out the looting of the state-owned oil company between 2007 and 2012. This was done through the organization’s alleged frontman, Luis Mariano Rodríguez Cabello. And, through several shell companies (none registering activity), the businessman – according to his testimony – purchased 19 luxury homes in Venezuela between 2008 and 2014. These properties were priced between $304,000 and $5.5 million.

Rodríguez Cabello used his 11 accounts in the Banca Privada d’Andorra (BPA) –

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Real Estate

Luxury Toronto condo The One put into receivership and more Canadian real estate news for October 21

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Home of the Week, 659 Avondale Rd., Newport, N.S.Sherman Hines/Sherman Hines

Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.

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Canada’s bank regulator says it won’t relax stress test on mortgage renewals

The Office of the Superintendent of Financial Institutions (OSFI) says it will not exempt uninsured borrowers from the mortgage stress test if they switch to a different lender at renewal time, writes Rachelle Younglai. Calls from the real estate industry to relax the stress test have been growing, as the spike in mortgage rates has made it harder for borrowers to qualify for a mortgage.

The regulator said exempting all renewals from the stress test “could cause lenders to

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