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REALM™ The First Collaborative Global Real Estate Collective Launched During The Pandemic Delivers $5.4 Billion In Inventory In Nine Months – Forbes

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REALM™ the first collaborative global real estate collective launched during the Pandemic delivers $5.4 Billion in inventory in nine months. When I wrote about REALM’s launch last April the pandemic was hitting the country hard. Julie Faupel, REALM founder and CEO and owner of Jackson Hole Real Estate Associates, was optimistic that REALM was the right global real estate collective for 2020. Given the enthusiastic response of founding members, Faupel had reason for her optimism. As we’ve discovered this year the importance and value of community and establishing connections both professional and personal.  

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Fast forward to today. Moving into 2021 with over $5.4 Billion in luxury real estate inventory, REALM’s elite membership includes the industry’s top real estate professionals.   The majority of members are recognized as industry leaders by various media including Wall Street Journal/REALTrends annual survey rankings. “COVID created an unforeseen opportunity for us to pivot to and we stepped up to fill that void our members were feeling. Existing members are introducing their colleagues to REALM and our membership is thriving,” Faupel said.

REALM, offers patented technology and exclusive services to members that optimize the unique experiences, lifestyles, and passions of their high net worth (HNW) clients to match them with the properties they seek. REALM’s strength is that it connects agent to agent in service to their clients via a curated content platform integrating information from the world’s leading data resources. REALM combines real-time data with human experience and networking. A REALM membership is a relationship enhancer and includes a game-changing technology platform that will enhance client data, provide a lifestyle profile for a member’s clients, and then matches REALM members anywhere in the world based on the clients they represent and the listings they have.

The result is a smarter way to acquire and sell properties on behalf of clients in a historically competitive market. “REALM has been an incredible growth tool for me this year by allowing me to connect with other top agents across the country—many of whom I would have never ordinarily connected with. It helps market my listings to brokers with like-minded clients which is in turn a benefit to my clients as well. The connection within the network is extremely collaborative and overall beneficial to growing my business,” notes Emily Beare, CORENYC.com.        

Today REALM’s global reach across 23 states and 9 countries including 83 individual markets offers members the rare opportunity to meet and collaborate with other industry leaders and their clients. REALM’s proprietary platform is brand agnostic and erases geographical boundaries to market luxury properties, allowing members increased visibility to grow their brands.

Bill Fandel of Compass in Telluride, Colorado explains what being a part of REALM means to his business and brand.   “REALM has provided an all-new form and substance to the referral network of the future. Offering top agents from around the world the combination of talent, technology, and vision, this is the future of client-centric relationship-building. REALM has provided me with a broader, brand-agnostic universe of agents to assist myself & my clients across the globe.” 

“REALM technology exists to connect human to human and enhance relationships. We launched in March, at the same time that the Pandemic severely limited our ability to bring agents together,” explains Faupel, a past winner of Christie’s International Real Estate Affiliate of the Year award in 2011 and 2014. “We responded to this driving human need for meaningful community by creating our weekly live Leading Minds forums to introduce our member agents to each other, learn together from experts from the business world and beyond, and share personal experiences to build success through these new powerful relationships,” Faupel adds.

Moving into 2021, REALM is expanding membership opportunities for new luxury and ultra-luxury residential developments. These include 181 Fremont and The Avery in San Francisco, and REALM is in discussions with several other luxury developments in New York, Los Angeles, and Miami. “At 181 Fremont, our team is devoted to sharing our spectacular residences with the most discerning clients in the world. We are encouraged by REALM’s amazing reach to the top real estate professionals across the U.S and nine countries representing over 100,000 UHNW clients. This is a huge advantage for us,” notes Leo Mederios, Compass Development Marketing Group, 181 Fremont Residences, San Francisco.

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Throughout 2020 REALM has continued to forge strong partnerships with a myriad of data-rich firms to deepen the offerings to luxury agents whose clients expect only the best. Advanced technology is key for REALM’s members. “REALM is committed to innovation and making our technology platform the very best it can be.   We are announcing new enhancements with new and, more focused matching algorithms, matching display to feature high matches first, advanced features allowing members to control matching formulas and the ability to filter clients, properties and agents by tags,” explains Faupel.

In 2021, REALM expects to expand to 1,000 members and over $20 billion luxury and ultra-luxury inventory.

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Real eState

What Is the Canada Mortgage and Housing Corporation (CMHC)

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The Canada Mortgage and Housing Corporation (CMHC) is a Canadian Crown Corporation that serves as the national housing agency of Canada and provides mortgage loans to prospective buyers, particularly those in need.

Understanding the Canada Mortgage and Housing Corporation (CMHC)

The Canada Mortgage and Housing Corporation (CMHC) serves as the national housing agency of Canada. CMHC is a state-owned enterprise, or a Crown corporation, that provides a range of services for home buyers, the government, and the housing industry.

CMHC’s stated mission is to “promote housing affordability and choice; to facilitate access to, and competition and efficiency in the provision of, housing finance; to protect the availability of adequate funding for housing, and generally to contribute to the well-being of the housing sector.”1

A primary focus of CMHC is to provide federal funding for Canadian housing programs, particularly to buyers with demonstrated needs. CMHC, headquartered in Ottawa, provides many additional services to renters and home buyers, including mortgage insurance and financial assistance programs. CMHC acts as an information hub for consumers, providing information on renting, financial planning, home buying, and mortgage management.

CMHC also provides mortgage loan insurance for public and private housing organizations and facilitates affordable, accessible, and adaptable housing in Canada.2 Additionally, CMHC provides financial assistance and housing programs to First Nations and Indigenous communities in Canada.3

Professionals and Consumers

CMHC provides services to both professionals and consumers. For professionals, CMHC aims to work in collaboration with different groups to provide affordable housing. Services include project funding and mortgage financing, providing information to understand Canada’s housing market, innovation and leadership networks to access funding and talent to spur housing innovation and increase supply, and providing speakers and hosting events for the industry.4

For consumers, CMHC seeks to provide all the tools an individual would need to either buy a home or rent a home and a variety of information and assistance for current homeowners, such as managing a mortgage, services for seniors to age in place, and financial hardship assistance.56

For financial hardship and mortgage assistance, CMHC provides tools that include payment deferrals, extending the repayment period, adding missed payments to the mortgage balance, moving from a variable-rate to a fixed-rate mortgage, and other special payment arrangements.7

Canada Mortgage and Housing Corporation (CMHC) and the National Housing Strategy

In November 2017, the Canadian government announced the National Housing Strategy.8 Rooted in the idea that housing is a human right, this 10-year, $70 billion project will largely be administered by CMHC, although some services and deliverables will be provided by third-party contractors and other Canadian federal agencies.9

Strategic initiatives of the National Housing Strategy include:

  • Building new affordable housing and renewing existing affordable housing stock
  • Providing technical assistance, tools, and resources to build capacity in the community housing sector and funds to support local organizations
  • Supporting research, capacity-building, excellence, and innovation in housing research10

History of the Canada Mortgage and Housing Corporation (CMHC)

CMHC was established in 1946 as the Central Mortgage and Housing Corporation by the federal government in Canada with the primary mission of administering the National Housing Act and the Home Improvement Loans Guarantee Act and facilitating discounts to mortgage companies. Initially, CMHC began by providing housing to returning Canadian war veterans, and toward the end of the 1940s, CMHC began to administer a program providing low-income housing across Canada.11

In 1947, CMHC was responsible for opening Regent Park, a large low-income housing project, and Toronto’s first urban renewal project. By the 1960s, CMHC introduced co-op housing and multi-unit apartment buildings throughout Canada.11

In 1979, the Central Mortgage and Housing Corporation changed its name to the Canada Mortgage and Housing Corporation

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Real eState

Canadian home price gains accelerate again in May

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Canadian home prices accelerated again in May from the previous month, posting the largest monthly rise in the history of the Teranet-National Bank Composite House Price Index, data showed on Thursday.

The index, which tracks repeat sales of single-family homes in 11 major Canadian markets, rose 2.8% on the month in May, led by strong month-over-month gains in the Ottawa-Gatineau capital region, in Halifax, Nova Scotia, and in Hamilton, Ontario.

“It was a third consecutive month in which all 11 markets of the composite index were up from the month before,” said Daren King, an economist at National Bank of Canada, in a note.

On an annual basis, the Teranet index was up 13.7% from a year earlier, the 10th consecutive acceleration and the strongest 12-month gain since July 2017.

Halifax led the year-over-year gains, up 29.9%, followed by Hamilton at 25.5% and Ottawa-Gatineau at 22.8%.

Housing price gains in smaller cities outside Toronto and its immediate suburbs again outpaced the major urban centers, with Barrie, Ontario leading the pack, up 31.4%.

On a month-over-month basis, prices rose 4.9% in Ottawa-Gatineau, 4.3% in Halifax and 3.7% in Hamilton.

The Teranet index measures price gains based on the change between the two most recent sales of properties that have been sold at least twice.

Canada‘s average home selling price, meanwhile, fell 1.1% in May from April, Canadian Real Estate Association data showed on Tuesday, but jumped 38.4% from May 2020.

 

(Reporting by Julie Gordon in Ottawa; Editing by Christopher Cushing)

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Economy

Bank of Canada seeing signs of cooling in hot housing market

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The Bank of Canada is starting to see signs that the country’s red hot housing market is cooling down, although a return to a normality will take time, Governor Tiff Macklem said on Wednesday.

The sector surged in late 2020 and early 2021, with home prices escalating sharply amid investor activity and fear of missing out. The national average selling price fell 1.1% in May from April but was still up 38.4% from May 2020.

“You are starting to see some early signs of some slowing in the housing market. We are expecting supply to improve and demand to slow down, so we are expecting the housing market to come into better balance,” Macklem said.

“But we do think it is going to take some time and it is something that we are watching closely,” he told the Canadian Senate’s banking committee.

Macklem reiterated that the central bank saw evidence people were buying houses with a view to selling them for a profit and said recent price jumps were not sustainable.

“Interest rates are unusually low, which means eventually there’s more scope for them to go up,” he said.

Last year, the central bank slashed its key interest rate to a record-low 0.25% and Macklem reiterated it would stay there at least until economic slack had been fully absorbed, which should be some time in the second half of 2022.

“The economic recovery is making good progress … (but) a complete recovery will still take some time. The third wave of the virus has been a setback,” he said.

The bank has seen some choppiness in growth in the second quarter of 2021 following a sharp economic recovery from the COVID-19 pandemic at the start of the year, he added.

(Reporting by David Ljunggren and Julie Gordon; Editing by Peter Cooney and Richard Pullin)

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