CANTON, Ohio, Sept. 30, 2020 (GLOBE NEWSWIRE) — Delta Media Group Inc., one of America’s most established and largest broker technology solutions providers, is launching a newly updated website service that allows real estate brokers to showcase affiliated home builders and communities.
The latest improvement to Delta Media’s robust DeltaNET 6 platform, makes it easier than ever for brokerages to feature each home builder they represent, putting a spotlight on new home listings, sales models, videos, virtual tours, floor plans, documents for downloading, maps and more.
Available from directly inside the brokerage website, affiliated builders receive “a website within a website.” Each updated section features a builder Home page and a navigation menu to give consumers more in-depth insight into the builder, new home offerings, links to new communities, and a contact feature to learn more about the builder.
New home communities have also been upgraded, giving real estate brokerages the ability to quickly create a builder community, extending the builder’s marketing to reach more consumers. The new communities’ landing page features an interactive Google map, which offers the ability to search for new communities by a specific county or school district. Once a community is selected, the website displays photos of the area, features of the community that can include additional videos and photography, homes listed for sale, its location on a map, hours of the builder sales office and contact numbers, and other videos, such as a walkthrough of the community.
Consumers can also search specifically for new home models by county, school district, price range, and the number of beds, sorting specifically by single-family detached homes or condo/townhomes, or both. Each model home also has a feature listing page on the broker’s website.
“By improving the brokerages’ ability to showcase builders and their communities, it strengthens the business bond between the broker, their agents, and the builder,” says Michael Minard, CEO and owner of Delta Media. “Builders know that real estate agents sell 85% of all homes, and they want innovative new ways to connect with agents and their clients. Delta is working to create a stronger bridge between builders, agents and their clients.”
Minard notes that Coldwell Banker Prime, a leading brokerage in Upstate New York, is among the first to debut the new Delta Media web service here. Coldwell Banker Prime, among the top 10 Coldwell Banker offices in the U.S., features 12 builders it has relationships with and dozens of their communities, all accessible from its main brokerage website.
A sample of a Coldwell Banker Prime affiliated builder community is available here.
More information about Delta Media and its new DeltaNET 6 platform are online at deltamediagroup.com.
About Delta Media Group
Delta Media Group, located in Canton, Ohio, is a leading and trusted technology partner for many of real estate’s top brands. Creator of the DeltaNET 6, real estate’s most advanced all-in-one digital marketing, back office, and website platform, Delta Media Group is the largest family-owned and operated technology innovator with no outside investors or VC funding. Delta Media Group is renowned for saving clients money while reducing the frustration of managing multiple online technologies. Established in 1994, Delta Media Group remains a top real estate technology innovator. Discover more at deltamediagroup.com.
Victor Lund (805) 709-6696
(Bloomberg) — Compass Inc., a SoftBank-backed company that’s among the largest real estate brokerages in the U.S., filed for an initial public offering, disclosing growing revenue and shrinking losses.
The New York-based startup in its filing Monday listed the size of the offering as $500 million, a placeholder that will change. Compass will disclose further details of the offering, including the size and target price range, in a later filing.
The company lost $270 million on revenue of $3.7 billion last year, compared with a loss of $388 million on revenue of $2.4 billion in 2019, according to its filing.
Compass was founded in 2012 by Robert Reffkin, a Goldman Sachs Group Inc. alumnus who was once Gary Cohn’s chief of staff at the bank, and by Ori Allon, an engineer who had sold previous startups to Google and Twitter Inc. After initially exploring different models, they wound up building a traditional brokerage that invested in tech designed to make agents better. They also spent liberally to poach agents from competitors and roll up smaller brokerages.
By 2019, Compass had raised more than $1.5 billion in capital, including hundreds of millions of dollars from SoftBank Group Corp.’s Vision Fund. The company, valued at $6.4 billion, had also grown into the third largest U.S. brokerage with more than $98 billion in deal volume, according to its filing.
Despite its fast growth, Compass’s critics argued it was a traditional real estate brokerage that’s valued like a tech company. Those voices were loud enough that the company’s chief financial officer sent an eight-point memo to employees and agents in October 2019 detailing the ways the company differed from WeWork.
“They say they’re a tech company, and they back it up in the sense that they have hired lots of engineers, who are building and releasing technology,” said Mike DelPrete, a real estate strategist who follows the company. “They’re talking the talk and walking the walk, no question about that. The question is, does it make a difference?”
Compass contends its technology offers agents better and more time-efficient ways to schedule meetings, design marketing materials and communicate with clients. The company has invested heavily in engineers to build artificial intelligence that pulls those tools together, arguing that its innovation is integration.
The offering is being led by Goldman Sachs, Morgan Stanley and Barclays Plc. Compass plans for its shares to trade on the New York Stock Exchange under the symbol COMP.
A recent study on women in the commercial real estate industry has revealed a significant gender imbalance in the sector, in fields from investment to construction. The 2019 study, conducted by the U.S.-based Commercial Real Estate Women Network (CREW), shows that 15 per cent of the top management positions were held by women.
To mark International Women’s Day next Monday, March 8, we spoke to five Canadian women in the industry about their challenges, successes and what they dream of for the future.
Ouri Scott, Principal, Urban Arts Architecture Inc., Vancouver
Her background: Ouri Scott works with Indigenous communities across British Columbia, designing community buildings, health centres, cultural buildings, higher-education spaces and multifamily housing. Ms. Scott is Tlicho Dene and grew up in the Dehcho region and in Yellowknife in the Northwest Territories. She earned a master of architecture at the University of British Columbia and worked at architecture firms in Vancouver.
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An internship at UNESCO, researching traditional knowledge, contributed to her focus working on designs that made sense for Indigenous communities and culture, such as houses with storage space for gear for going out on the land or processing food, or meeting spaces for traditional celebrations or ceremonies.
Challenges for women: After graduating, Ms. Scott worked at a large architecture firm run predominantly by white men. Despite the desire to support women, in reality young white men were given more opportunities there, she says. As a result, Ms. Scott almost ran out of time to get the hours she needed to be registered as an architect.
Many women leave the industry when they have children, Ms. Scott notes. While on maternity leave, she tried to stay connected to the office so as not to fall behind. She also made an effort in workplaces not to be seen as a mother, as she had seen that women who were identified as mothers have less opportunities.
Advice for other women: Accept that you can’t do it all and do not feel guilty about that, Ms. Scott suggests. Lean on friends and families for support.
A dream for the future: “We say we value children and work-life balance, but we don’t model it as an industry,” she says. “Making that be real, we would all be healthier and happier.”
Karen Walker, Senior Director, Tenant Experience, Hullmark Developments Ltd., Toronto
Her background: Karen Walker started out as an executive assistant at a real estate development company in Mississauga more than a decade ago. When the company was looking for someone to manage a property, she figured, “Let me try this out.” That experience gave her the skills to work for a company that managed properties for Hullmark. Eventually, the company asked Ms. Walker to start an internal department, which now manages about 30 properties with about 115 tenants.
Challenges for women: “In property management, things have come a long way for women,” she says. There are still times, however, when people in trades or construction do not expect her to have solid knowledge of building components, or they gloss over important details.
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When it comes to executive roles, cultural diversity is even more of an issue in commercial real estate, she says. “It is a very white, male-dominated industry,” though the past several months has moved diversity, equity and inclusion efforts (DEI) further ahead, she adds.
Advice for other women: “Your network is everything. Every job I have ever gotten has been by being introduced,” she says. Put yourself outside of your comfort zone, she adds, and volunteer to do jobs outside of your description. “Expand your duties and gain as much knowledge and experience as you can.”
A dream for the future: Ms. Walker would like to see more DEI in the industry, so eventually “it doesn’t matter whether you are Black, white, male, female, or whatever culture you are from.”
Anna Murray, Managing director, global head of ESG, BentallGreenOak, Vancouver
Her background: Originally from Ontario, Anna Murray moved to Alberta, working in environmental, social and corporate governance (ESG) in the oil and gas and mining sectors.
She had spent time at the United Nations Global Compact – an initiative to encourage businesses to adopt sustainable and socially responsible policies – and has a master of business administration and a law degree.
Because buildings contribute so much to global greenhouse gas emissions, Ms. Murray brought her focus on ESG to real estate firm BentallGreenOak five years ago. She works with global investment management teams, asset managers, real estate services teams and property teams, assessing such ESG issues as the environmental and social impact of investments.
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Challenges for women: It can be hard for women to know whether a company is serious about diversity in leadership, Ms. Murray says. “Women and minorities have to navigate firms past what their mission statement says to fully understanding what practices are in play.”
The other challenge for women is work-life balance, she adds. Ms. Murray at one point was raising three girls, working full-time and finishing a law degree, as well as founding a not-for-profit.
Advice for other women: “Look up to look far” is one of Ms. Murray’s suggestions, meaning that women should research a potential employer’s diversity of leadership, or efforts to diversify.
“Carry as you climb” is another, meaning draw strength from collective, not just individual, successes.
A dream for the future: One of Ms. Murray’s dreams is that ESG becomes a required component in all investment criteria on a global scale, creating a more sustainable future for all.
Another is for equal representation and pay and that women should be equally supported in upper ranks as are men.
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Lara Murphy, Co-founder, Ryan Murphy Construction Inc., Calgary
Her background: Growing up in Saint John, Lara Murphy “became the neighbourhood kid who did odd jobs.”
She always had her own business, she says, knocking on doors and doing maintenance, then running construction businesses throughout her undergraduate schooling.
She came to Calgary in 2005 and started her own firm. During a commercial project she met Karen Ryan and in 2008 they founded Ryan Murphy Construction. Two weeks after that, the financial markets collapsed.
The company did what was necessary to survive, doing maintenance contracts, tiling washrooms and the like, and built up a successful commercial construction company.
The firm, with revenue just under $10-million, is 70 per cent female and 33 per cent LGBTQ, and is working on other aspects of diversity.
Challenges for women: Ms. Murphy and Ms. Ryan still sometimes feel like outsiders to the network of established players who often win the bids. “It is unusual for a commercial real estate construction firm to be run by women,” she says.
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Advice for other women: Find people who will elevate you, she suggests, adding that it is important to be willing to fail, push your comfort level and try new things.
A dream for the future: Ms. Murphy looks forward to a day when “we wouldn’t have to have an article focused on women doing what we are doing. I want it to be just the norm.”
Joanne Chua, Investment Manager, Grosvenor Americas, Vancouver
Her background: Joanne Chua joined Grosvenor Americas, a subsidiary of Grosvenor Group, as an executive assistant to the company’s chief investment officer and a senior vice-president of investment in Vancouver in 2012.
“I was brand new to commercial real estate,” she says, but the property investment and development company encouraged her to follow her interests. So, she tried her hand at asset management.
She learned on the job and became an investment manager, growing her portfolio.
Challenges for women: “As an industry overall, there are still some areas where men dominate,” she says, adding she was lucky to be insulated from that where she works.
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Ms. Chua currently sits on the board of Commercial Real Estate Women Vancouver as director of education and outreach, working to build the pipeline of women entering the industry.
Advice for other women: “Get out there and really build your connections,” she says, adding that a strong support network helps women learn the industry and get exposure to the opportunities available to them.
A dream for the future: “I really hope our industry globally can reflect the communities we serve,” she says. “I hope all builders take the approach … to make sure cities are reflective of the people there and are able to support those people.”
A surge in real estates prices that extended down the Highway 401 corridor created a 35-per cent jump in the average price of a home in the Windsor area this January compared to January 2020.
The average local sales price for the month was $510,716 compared to $379,813 just 12 months earlier and $206,383 higher than in January 2019.
“The underlying facet of this is really the fundamental of supply,” said Windsor-Essex County Association of Realtors president Damon Winney.
“In January 2020 there were more new listings than this January. We’ve all heard the stories of 10 to 20 bidders for a property.
“With fewer new listings, we’re moving through our inventory of homes quickly. We only have 319 active listings on the board right now.,” said Winney, who is also co-owner of Jump Realty.
Local homes are taking only eight or nine days on average to sell, he said.
The London/St. Thomas Association of Realtors reported the average price rose 40.5 per cent in the region, to sit at $607,431. Chatham-Kent’s average price rose 42.4 per cent to push the average home to $350,452 for January.
Homes were selling for 11.7 per cent over asking price in Windsor and 10 per cent over in London.
The rental market for apartments also remains tight with a 3.2-per cent vacancy rate compared to 3.6 per cent a year ago.
The average local rent for a two-bedroom apartment has crept up from $949 in 2019 to $1,058 currently. The national average is $1,330.
It’s a similar housing story in London and Chatham where homes are moving as quickly and there is less than a month’s supply of homes on the market based on the current rate of sales.
Windsor’s February figures, which haven’t been released yet, won’t maintain the same torrid pace as January, Winney said.
“They aren’t as eye-popping as 35 per cent, but they’re still strong at 24 per cent,” Winney said. “That’s more in line with the provincial average.”
The average home sale price for January in Canada increased by 22.8 per cent to $621,525.
Monthly prices increased 21 per cent in Ontario, the largest increase of any province, with the average home costing $796,884.
The highest average price remains in British Columbia at $843,830 with New Brunswick being the most affordable province to buy a home at $205,074.
Winney said “2021 started off just like 2020 ended, with a number of key housing market indicators continuing to set records,” Canadian Realtors Association chair Costa Poulopoulos said of the national scene.
“The two big challenges facing housing markets this year are the same ones we were facing last year — COVID and a lack of supply. With luck, some potential sellers who balked at wading into the market last year will feel more comfortable listing this year,” he said.
The inventory of new listings in Canada is at a record low.
CREA’s forecast released last week for the Windsor market remains robust in terms of prices and in economic and population growth.
Winney said COVID has made buying a home challenging, but supply has also become restricted as some homeowners have opted to renovate their homes and stay put.
At the same time, there’s also continued interest from outside buyers, particularly from large urban areas like pricier Toronto.
A stable workforce, good climate, border access and the ability to cash in their expensive Greater Toronto Area homes and buy cheaper in the Windsor region are all driving the rising prices in the local housing market.
“I also believe there’s a density concern when we look at people moving from the GTA to here,” Winney said. “People are seeking space.
“They can get a four-to-five bedroom home with space for a home office, larger yard, better lifestyle and a better cost of living.”
Bungalows were the most popular choice for buyers in January followed by two-storey dwellings.
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