According to Redfin, the typical U.S. home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer. That’s down from an average of 2.62% in January 2024. Commissions have been gradually declining over the last few years, from an average of 2.89% in 2013 to 2.66% in 2023. But news…
The Brickell area of downtown Miami’s office market has seen rental prices soar to new heights due to intense demand from blue-chip companies based in New York, Chicago, Los Angeles and Latin America seeking premium office locations, surpassing the available supply. Brazilian bank Banco Master has secured the final 26,000 square feet in the prestigious…
Hotel investments account for 40 percent of all commercial transactions in Japan Global property consultant CBRE reported this week that Japan’s commercial real estate transaction volume for Q2 2024 decreased by 25% year-over-year to JPY 663.0 billion. Significant hotel transactions boosted the sector’s acquisition volume to JPY 280.0 billion, which is about 2.6 times the…
Veteran media and technology entrepreneur Michael Gerrity announced this week that Miami will be the future headquarters of his new global real estate information services company startup in 2025 — WORLD PROPERTY MEDIA. WORLD PROPERTY MEDIA is the parent holding company for a portfolio of three globally emerging real estate information platforms (news, streaming and…
Based on new data by the National Association of Realtors, pending U.S. home sales in June 2024 ascended 4.8%. All four U.S. regions posted monthly gains in transactions. Year-over-year, the Northeast, Midwest and South registered declines, while the West increased. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on…