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...The squeeze on commissions is bad news for the 1.6mn Americans currently registered to work as real estate agents, as well as the companies that employ them....
...European commercial real estate deal making fell to a 13-year low at the start of 2024, as fading hopes of imminent interest rate cuts prolonged the slump in property markets....
...Residential real estate exemplifies this challenge with its physical immobility, high transaction costs, and concentrated wealth....
...Berkshire Hathaway’s HomeServices of America, the largest US residential real estate brokerage, has joined rivals and agreed to settle lawsuits that challenged long-standing fee arrangements in the industry...
...America’s real estate market remains stuck in the mud. Existing home sales, which make up most of the US housing market, totalled just 4.09mn units in 2023, a 30-year low....
...That doughty — somewhat dull — Canadian insurance company known as Manulife does not often attract attention. This week, however, it caused a frisson in the real estate world....
...Estate agents were also more optimistic about housing demand in March, according to the latest survey by the Royal Institution of Chartered Surveyors....
...Roughly 80 per cent of PBB’s cover pool — the collection of assets backing its covered bonds — is made up of commercial real estate mortgages....
...The residential real estate brokerage industry has been in crisis for months, as higher mortgage rates dramatically slow down transaction volumes and class action lawsuits threatened the commission pool....
...Signs of stress in the commercial real estate sector are now coming thick and fast....
...“We’re in a different era that does not favour debt in relation to real estate purchases,” she says....
...Newmark, a real estate advisory and brokerage company, said the estimated $2tn of US commercial real estate debt maturing between this year and 2026 would have to be refinanced at much higher interest rates...
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
...The worries around real estate are not limited to the US....
...Even before its default, which was first reported by commercial real estate newsletter The Promote, Brooklyn Tower was a talking point....
...Svanstrom said Rightmove was continuing to diversify its business into new areas including rental and mortgage services, and commercial real estate....
...James Whelan, president of the Real Estate Board of New York, the industry trade group, called her a trailblazer....
...real estate brokerage Corcoran....
...estate companies and investors including housebuilder MJ Gleeson, asset manager Invesco and rental landlord Grainger....
...“Along with other recent incentives, it reflects the policy intention to activate the real estate market and boost sentiment.”...
...The UK slid to second place after ranking at the top of investors’ list in 2018 and 2017, when previous surveys had been conducted, according to the real estate brokerage firm....
...New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate....
...Blackstone Mortgage Trust provides loans to commercial real estate companies in North America, Europe and Australia. Its market capitalisation is just under $4bn....
...Sotheby’s Real Estate was spun off from the auction house — the venue for Azar’s launch party — in 1976....
...The most prominent non-bank mortgage brokers lend against residential real estate, which is still a strong market....
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