– Inman is hosting upcoming real estate events in Miami, Las Vegas, and Luxury Connect
– The top 5 articles on Inman this week focused on commission lawsuit settlements and NAR-related news
– CoStar’s Homes.com is launching a major marketing campaign to differentiate itself as the most agent-friendly portal
– Hawaii State Senator Brenton Awa has presented a bill to ban foreign buyers from purchasing or investing in property on the island
– Former managing director of HFZ Capital, Nir Meir, has been arrested for alleged fraudulent charges associated with a luxury residential project in Manhattan.
Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: Since last week’s top story was The Download, we’re taking the opportunity to bring you some of the lesser-known stories you may have missed while you were reading about KW and NAR.
This week’s Top 5 articles reflected Inman readers’ ongoing interest in commission lawsuit settlements — along with anything and everything NAR-related. In fact, last week’s Download on the fallout from Keller Williams’ settlement, and what it might mean for HomeServices of America and NAR, was the most-read story of the past seven days.
We always want to make sure you’re smarter than the average bear when it comes to the real estate industry, and that means knowing more about a range of topics that impact you and your clients both now and in the future. For today’s ICYMI edition of The Download, we’re sharing some of the biggest stories you may not have had time for this week.
With all of the courtroom fighting going on over the past few months, you may have missed the portal wars heating up. The latest salvo comes from Homes.com parent company CoStar’s plan to spend beaucoup bucks on what they’re calling “the biggest marketing campaign in real estate history.”
It’s an interesting strategy, especially for a portal that differentiates itself as the most agent-friendly among its competitors.
Inman’s Jim Dalrymple writes:
“CoStar’s pitch to agents is a major part of its new marketing campaign. While speaking with Inman Thursday, Florance touted the company’s ‘your listing, your lead’ strategy and said that Homes.com will put every agent’s name and company on their listings. He contrasted that with other portals, which ‘strip off’ broker information when they ingest listings from MLSs. Florance criticized Zillow’s offer to add additional information and branding for a fee.”
Watch for the celebrity-laden Homes.com ads in big upcoming televised events like the Super Bowl, the Paris Olympics, March Madness and more.
Apparently inspired by Florida’s recently halted Senate Bill 264, which would restrict real estate purchases in the state by citizens of China, Russia, Iran, North Korea, Cuba, Venezuela and Syria, Hawaii State Senator Brenton Awa has presented a bill aimed at banning foreign buyers from purchasing or investing in property on the island. The bill goes up for a vote on Feb. 13.
While Florida’s bill was predicated on national security concerns, Awa’s bill is focused on affordability. While it does not apply to foreigners who bought or invested in property before July 1, 2024, foreign property owners would be required to register their property with the Hawaii State Attorney General’s office by Jan. 1, 2025, or face a $1,000 daily fine.
“While state leaders pushed back on the bill, everyday Hawaiians supported Awa’s mission, as evidenced by more than 1,500 pages of written comments expressing their frustration with foreigners and mainland U.S. citizens coming to the state and driving up prices.”
Former managing director of the luxury developer HFZ Capital, Nir Meir has been arrested in Miami and is awaiting extradition to New York. In total, District Attorney Alvin Bragg alleges $86 million in fraudulent charges associated with a Manhattan luxury residential project formerly known as XI, now known as One High Line, a pair of curving glass towers designed by the architect Bjarke Ingels.
“In [Meir’s] professional capacities, he began dodging debts. HFZ stopped paying its contractors for the XI in 2019, according to New York Magazine, leading to Meir’s eventual firing by HFZ and the company being hollowed out by lawsuits and foreclosures.”
DA Bragg said that his office’s Rackets Bureau is “laser-focused on fraud in the construction and real estate industries” and is striving to root out theft from investors and corruption in the marketplace.
Property Chomp's Take:
Are you ready for the ultimate real estate experiences? Inman's upcoming events offer a variety of opportunities to dive into the future of the industry, immerse in luxury, and converge with industry leaders. Mark your calendars for Connect Miami, Luxury Connect, and Inman Connect Las Vegas. These events are designed to bring together the best in the industry, providing valuable insights, networking opportunities, and the chance to stay ahead of the curve.
Connect Miami is an event that focuses on the future of real estate. It brings together experts and thought leaders to discuss the latest trends and innovations in the industry. Whether you're a real estate agent, broker, or investor, this event will provide you with the knowledge and tools you need to succeed in the ever-changing market.
Luxury Connect is all about immersing yourself in the world of luxury real estate. This event is perfect for those who specialize in high-end properties and want to network with other luxury agents and brokers. From exclusive panel discussions to private networking events, Luxury Connect offers a unique experience for those in the luxury market.
And finally, Inman Connect Las Vegas is the flagship event of Inman. It brings together industry leaders, top agents, brokers, and technology providers for a week of learning, networking, and inspiration. With keynote speakers, breakout sessions, and interactive workshops, this event is a must-attend for anyone serious about their real estate career.
But it's not just about the events themselves. Inman's website, inman.com, is a valuable resource for staying up-to-date with the latest news and trends in the real estate industry. Their weekly roundup, The Download, provides a deeper look into the top-read stories of the week, giving you the insights you need to start your week off right.
Inman's top articles this week focused on commission lawsuit settlements and anything and everything related to the National Association of Realtors (NAR). The fallout from Keller Williams' settlement and its potential impact on HomeServices of America and NAR was the most-read story, highlighting the industry's interest in these topics.
In addition to the popular stories, The Download also shares some of the lesser-known stories that you may have missed. For example, the portal wars are heating up, with Homes.com parent company CoStar launching what they claim to be the biggest marketing campaign in real estate history. Their agent-friendly approach sets them apart from other portals, and they plan to showcase this in their upcoming celebrity-laden advertisements.
Another interesting story is the proposed bill in Hawaii aimed at banning foreign buyers from purchasing or investing in property on the island. Inspired by a similar bill in Florida, this bill focuses on affordability and aims to prevent foreigners from driving up prices in the state.
And finally, former managing director of luxury developer HFZ Capital, Nir Meir, has been arrested in Miami and is awaiting extradition to New York. He is facing allegations of $86 million in fraudulent charges associated with a Manhattan luxury residential project.
Inman's goal is to keep you informed and ahead of the curve in the real estate industry. Their events, website, and weekly roundup provide valuable insights and resources to help you succeed in your career. So mark your calendars and join the industry's best at inman.com/events.