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Symmetry Real Estate Partners With Side To Deliver Inclusive,…

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Karen Ho, Founder of Symmetry Real Estate

Karen Ho, Founder of Symmetry Real Estate

I take great pride in using a creative and tech-driven approach to position my clients and team for success. Partnering with Side will allow Symmetry Real Estate to do just that.

Symmetry Real Estate today announced its partnership with Side, the only real estate technology company that exclusively partners with high-performing agents, teams, and independent brokerages to transform them into market-leading boutique brands and businesses. The alliance will ensure that Symmetry Real Estate, an inclusive firm that serves buyers and sellers at all levels of the market, is powered by the industry’s most advanced platform.

Founder Karen Ho takes the time to understand her clients’ needs and curates her approach accordingly. In addition to her numerous certifications, Ho’s client-centric method has resulted in her recognition as a Best of Zillow agent and procurement of the Bay East Association of Realtors® Grand Master Achievement Award.

Symmetry Real Estate serves its diverse clientele with equal enthusiasm and integrity. Whatever its clients’ life stage and real estate goals, the top-producing team leverages tailored strategies and the latest technology to help their clients buy or sell East Bay properties.

Partnering with Side will ensure Symmetry Real Estate remains on the cutting edge of the evolving real estate market while continuing to deliver premium services to its clients. Side works behind the scenes, supporting Symmetry Real Estate with a one-of-a-kind brokerage platform that includes proprietary technology, transaction management, branding and marketing services, public relations, legal support, lead generation, vendor management, infrastructure solutions, and more. Additionally, Symmetry Real Estate will join an exclusive group of Side partners, tapping into an expansive network from coast to coast.

“I take great pride in using a creative and tech-driven approach to position my clients and team for success,” said Ho. “Partnering with Side will allow Symmetry Real Estate to do just that. With Side’s best-in-class technology and marketing support, I can continue to provide our clients with tailored searches and the greatest possible reach — along with the exceptional service they expect and deserve.”

Side is led by experienced industry professionals and world-class engineers who develop technology designed to improve agent productivity and enhance the client experience. Based on its belief that homeownership is a fundamental human right, Side is on a mission to improve the public good by providing top-performing real estate agents, teams, and indie brokerages with the best system, support, service, experience, and results.

About Symmetry Real Estate

Symmetry Real Estate delivers innovative and client-focused strategies to East Bay buyers and sellers at all life stages and experience levels: First-time buyers, seasoned investors, singles, and families all have a seat at Symmetry Real Estate’s table. The team is driven to help its clients achieve the American dream, just as its founder, Karen Ho, did. For more information, visit http://www.symmetryrealestategroup.com.

About Side

Side transforms high-performing agents, teams, and independent brokerages into successful businesses and boutique brands that are 100% agent-owned. Side exclusively partners with the best agents, empowering them with proprietary technology and a premier support team so they can be more productive, grow their business, and focus on serving their clients. Side is headquartered in San Francisco. For more information, visit http://www.sideinc.com.

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Source: https://www.prweb.com/releases/symmetry_real_estate_partners_with_side_to_deliver_inclusive_best_in_class_service_to_east_bay_clients/prweb18032352.htm

Real Estate

Austin-based Fetch Package secures $60M in equity & debt after tripling ARR in 2020

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Fetch Package, a last-mile package delivery company for apartment communities, has raised $50 million in a Series C round of funding and closed on a $10 million venture debt facility.

Michael Patton founded Fetch in May 2016 after being frustrated by having packages lost at the apartment community in which he was living. 

“I took the time to research how communities were handling packages. What I found was that some communities are receiving up to 300 to 400 packages a week and trying to manage that volume manually, adding a significant time burden on the team,” he told TechCrunch. “I knew there had to be a better way and that solution needed to be one that could easily handle the future of package delivery as e-commerce was gaining significant traction.”

Fetch launched its operations in Dallas in February of 2017 with the goal of solving “the package problem” for apartment communities. The startup, which later moved its headquarters to Austin, has seen impressive growth.

By the end of 2017, the SaaS company was servicing approximately 2,000 apartments in the Dallas area. Over the next three years that number grew to almost 150,000 doors being serviced out of 25 warehouses in 15 markets, including Atlanta, Austin, Charlotte, Chicago, Denver, Houston, Orlando, Portland, Phoenix, Arizona and Seattle.

Fetch currently has just over 200,000 doors, or around 700 communities, across the country under contract. It says it works with seven of the top 10 nationally recognized apartment management companies in the country, in addition to “a majority of the largest owners and developers.” Last December, it inked a national preferred vendor agreement with management giant Greystar. Fetch delivered about 3.5 million packages in 2020, and hit the 2.5 million mark for volume in June 2021. The company says it’s currently on track to deliver more than 8 million packages by the end of the year. 

While the company would not disclose hard revenue figures, Patton says it tripled its year-over-year ARR (annual recurring revenue) in 2020 and GAAP revenue grew 6x year-over-year. Over the last two years, Fetch has seen “record sales,” he added, and is on pace to surpass 300,000 units by year’s end. Austin-based Ocelot Capital led its Series C round, which also included participation from Greenpoint Partners, Alpaca VC and Rose Park Advisors. Existing backers Iron Gate Capital, Signal Peak Ventures, Venn Ventures, Pando Ventures and Seamless also put money in the round. 

In addition to the equity raise, Signature Bank provided the company with a $10 million venture debt facility. The latest financing brings Fetch’s total funding to more than $92 million, and triples its valuation from its $18 million Series B raise last August.

Andrew Townsend, managing member at Ocelot Capital, believes that Fetch is “solving for a major bottleneck within the supply chain that is often overlooked.”

“We expect e-commerce delivery volume to continue to grow for the foreseeable future and Fetch is the only scalable solution available to multifamily operators,” he said. 

What makes Fetch stand out, in his view, is that the company can “efficiently” manage the fluctuations in package volume in ways that traditional parcel storage solutions cannot. It also provides apartment residents with the “unique convenience of on-demand doorstep delivery that aligns with the varied schedules of apartment dwellers,” Townsend added.

All packages at Fetch’s client communities are sent to the company’s facilities using a unique code identifier. The company then coordinates scheduled, direct-to-door delivery with residents directly via its app in a time frame that it says “works best for their schedule.”

“This takes the property out of the package management business and provides residents with a convenient amenity,” Patton said.

Fetch works with a mix of W2 employees as well as 1099 contractors to fulfill their service. On the W2 side, Fetch has had a 50% increase in total employees since the middle of last year, with about 350 employees today. This is in addition to the “thousands” of independent contractors/gig economy workers who also serve as drivers in all their markets.

Looking ahead, Fetch will use its new capital primarily to expand into new markets, with plans to launch in South Florida, Philadelphia, San Francisco, Nashville, Minneapolis and a “few other markets” over the next two quarters. Over the next 18 months, the company intends to launch around 20 new markets. The money will also go toward investing in its tech stack and operational infrastructure, Patton said.

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Source: https://techcrunch.com/2021/07/21/austin-based-fetch-secures-60m-in-equity-debt-after-tripling-arr-in-2020/

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Engel & Völkers Florida Reports Successful Second Quarter in…

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Engel & Völkers Florida Reports Successful Second Quarter in 2021

Engel & Völkers Florida Reports Successful Second Quarter in 2021

Our aggressive franchise expansion roadmap, commitment to coaching and accountability programs, innovative systems and tools and unparalleled leadership position us for continued success in 2021 and beyond.

Engel & Völkers Florida today announced its second quarter of 2021 report. The company has seen significant year-over-year increases, a steady stream of transactions at all price points, increased sales volume, growth in advisor count through talent attraction, and continuous franchise expansion.

“Engel & Völkers Florida had an outstanding second quarter as our shops and advisors continue to transform the real estate industry,” said Timo Khammash, Managing Partner of Engel & Völkers Florida. “Our aggressive franchise expansion roadmap, commitment to coaching and accountability programs, innovative systems and tools and unparalleled leadership position us for continued success in 2021 and beyond.”

In the second quarter of 2021, Engel & Völkers Florida reported 1,748 transactions; a 203-percent increase from deals seen in quarter two of 2020. The sales totaled a volume of $1,188,852,186; a 210-percent year-over-year increase. According to Zillow, the typical value of a home in Florida was $297,390, a 15-percent increase over the past year. Our average sales price was $799,610, nearly 169-percent higher than the state average. Year-to-date, the company has generated $2,031,982,848 in revenue.

A 43-percent increase in advisor growth was observed, with 93 professionals changing their brokerage affiliation to join Engel & Völkers shops throughout the state of Florida. Engel & Völkers Florida continues to account for 5-percent of the company’s global network of 14,105 advisors.

Engel & Völkers Florida expanded their reach to include two new shops located in Palm Coast and Ponte Vedra Beach. The Master License Partner now operates a franchise network of 40 locations in Florida, which contributes to the 961 total shop count in 33 countries. Engel & Völkers Florida is continuing its franchise expansion efforts in premium first and second home markets throughout the state, as well as working closely with its existing franchisees to gain additional market share in protected areas.

“Engel & Völkers Florida continues to have exponential growth at a far greater pace then our competitors,” said Peter Giese Chief Growth Officer at Engel & Völkers Florida. “We’re able to do this by attracting full-time real estate advisors that are properly trained submarket specialists who mostly represent listings. I am proud of everyone associated with the brand. We are on target to have 50 shops in the state of Florida by the end of 2021.”

###

Press contact:

Linzee Werkmeister, Junior Vice President, Marketing & Franchise Support

Email: Linzee.Werkmeister(at)evrealestate.com

Tel: (239) 348-9000

About Engel & Völkers:

Engel & Völkers is a global luxury real estate brand. Founded in Hamburg, Germany in 1977, Engel & Völkers draws on its rich European history to deliver a fresh approach to luxury real estate in the Americas with a focus on creating a personalized client experience at every stage of the home buying or selling process for today’s savvy homeowner. Engel & Völkers currently operates approximately 240 shop locations with 5,000 real estate advisors in the Americas, contributing to the brand’s global network of over 14,000 real estate professionals in more than 30 countries, offering both private and institutional clients a professionally tailored range of luxury services, including real estate and yachting. Committed to exceptional service, Engel & Völkers supports its advisors with an array of premium quality business services; marketing programs and platforms; as well as access to its global network of real estate professionals, property listings and market data. Each brokerage is independently owned and operated. For more information, visit http://www.evrealestate.com.

About Engel & Völkers Florida:

Engel & Völkers Florida is the Master License Partner of the global luxury real estate brand Engel & Völkers in the state of Florida. Recognized for uniquely recruiting, training and equipping some of the top professionals in the real estate industry, Engel & Völkers Florida’s exclusive franchise model positions its license partners at the top of the premium market to gain market share and support their bottom line. The company represents franchise locations in: 30A Beaches, Amelia Island, Belleair, Boca Raton, Bonita Springs-Estero, Cape Coral, Clermont, Delray Beach, Destin, Fort Lauderdale, Fort Myers Downtown, Gainesville, Hollywood Beach, Islamorada, Jacksonville, Jacksonville Beach, Jupiter, Madeira Beach, Marco Island, Melbourne Beachside, Melbourne Central, Melbourne Downtown, Miami Coconut Grove, Neptune Beach, Olde Naples, Orlando, Orlando Downtown, Orlando-Winter Park, Palm Beach, Palm Coast, Ponte Vedra Beach, Sarasota, South Tampa, St. Augustine, St. Pete, St. Pete Beach, Stuart, Venice Downtown, Wellington, and Windermere.

Engel & Völkers Florida is continuing to strategically strengthen and expand its presence in premium real estate markets across the state of Florida. If you would like to know more about the Engel & Völkers brand or how to join its global network—which is known for demonstrating competence, exclusivity and passion, feel free to call our corporate office, located at 633 Tamiami Trl N, Suite 201, Naples, FL 34102 USA. Tel: +1 239-348-9000.

For more information about Engel & Völkers Florida, please visit http://www.florida.evrealestate.com

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Source: https://www.prweb.com/releases/engel_volkers_florida_reports_successful_second_quarter_in_2021/prweb18083570.htm

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Silvernest and Open Up Collaborate on Homesharing Initiative Designed…

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We believe deeply in the power of homesharing and its positive impact, and collaborating with Open Up allows their team to focus on case management and robust support for those who may need it. We’re here to make the rest of the process easy for everyone.

Silvernest and Open Up are joining forces on a homesharing program that aims to bring more affordable housing options to those living in the Metro Denver area. As part of the relationship, Open Up will use Silvernest’s online platform to match employed renters in career development programs with homeowners who choose to rent out space in their homes.

Working collaboratively, the organizations hope to broaden the adoption of homesharing in the Denver area and help solve community challenges, such as providing an immediate inventory of more desirable, budget-friendly rental housing and heading off homelessness.

Denver’s housing prices are quickly climbing to levels that are significantly higher than before the pandemic, with the monthly rent for a one-bedroom apartment averaging $1,724 — a price that’s out of reach for many area residents. At the same time, one report estimates that there are about 442,000 owner-occupied homes in the metro area that have spare bedrooms.

Through Open Up’s homesharing program, renters benefit by gaining access to housing options that are typically below market rent rates, saving an average of $659 a month. Meanwhile, homeowners are able to leverage their homes to generate supplementary income, as well as reap the satisfaction that comes with supporting their neighbors.

“Open Up is thrilled to bring Silvernest’s world-class platform to our hard-working clients to make finding a safe, stable, and affordable home more easily within reach,” said Andy Lyde, executive director for Open Up. “Together with Silvernest, we are demystifying homesharing in Colorado with an easy-to-use and simple process for finding a great housing match. Now, working Coloradans have more affordable housing options available to them immediately and don’t have to spend over 30% of their paycheck just to live in their preferred location.”

By tapping into Silvernest’s all-in-one homesharing platform, Open Up is able to make its process as simple and straightforward as possible. Open Up clients now have access to the technology tools needed to match with potential housemates based on compatibility, request background screens (sponsored by Open Up), communicate securely without sharing personal details, generate Colorado-specific leases and manage automated payments.

“Silvernest is proud to team up with nonprofits to scale and support their critical work in communities,” said Amy Ford, vice president of strategic partnerships and business development for Silvernest. We believe deeply in the power of homesharing and its positive impact, and collaborating with Open Up allows their team to focus on case management and robust support for those who may need it. We’re here to make the rest of the process easy for everyone.”

Homeowners and renters interested in homesharing through Open Up can get started here: https://info.silvernest.com/open-up.

About Silvernest

Silvernest was created to change how we can live by delivering the many benefits of homesharing (independence, housing choices, financial wellness, powerful social connections) at scale through an all-in-one online homesharing platform. Features include roommate matching via a proprietary compatibility algorithm, in-app messaging and background screens, a lease creator, rent auto-pay, insurance and an online hub of resources and tools. To date, we’ve helped homeowners and renters recognize over $50 million in rent income and savings by homesharing with a compatible roommate. Visit us at http://www.silvernest.com, read our blog and follow us on Facebook and Twitter.

About Open Up

Open Up makes existing shared living space available to people earning between 30% and 50% area median income in Colorado as an affordable housing option. While Colorado is short on affordable housing, it is not short on unused bedrooms. Homeowners earn extra income through sharing their home and our clients save money. Instead of spending a large proportion of their income on rent, in 2020 our clients saved an average of $659 every month living in a homeshare. Visit us at https://letsopenup.org and follow us on Facebook and Instagram.

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Source: https://www.prweb.com/releases/silvernest_and_open_up_collaborate_on_homesharing_initiative_designed_to_create_more_affordable_rental_housing_options_in_denver/prweb18080806.htm

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Commercial real estate lending startup Lev brings in $30M on a $130M valuation

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Commercial real estate has been slow to embrace technology; though it has an addressable financing market of more than $40 billion, putting together a deal is still mostly manual, paper-heavy and complicated.

New York-based Lev is taking on this problem by automating workflows online and gathering hundreds of millions of data points into machine learning software to ensure financing accuracy. To do this, the commercial real estate financing transaction platform raised $30 million to give it a $130 million valuation just two years into its inception.

The latest financing comes four months after the company raised $10 million in seed funding led by NFX. Greenspring led the latest round, with participation from First American Title. Existing investors NFX, Canaan Partners, JLL Spark, Animo Ventures and Ludlow Ventures also joined in to give Lev total investments of more than $34 million, according to Crunchbase data.

Lev founder and CEO Yaakov Zar previously co-founded Boston-based Dispatch, which built tools for home services businesses. It was when he and his wife went through the homebuying process — and their mortgage fell through — that Zar decided to look at real estate financing.

He channeled his frustration into becoming a licensed mortgage loan originator. After relocating to New York, Zar was helping a friend at a nonprofit organization refinance their building and got a firsthand look at what he said was a fragmented commercial real estate mortgage industry.

Companies like Blend are addressing the problem of real estate lending, Zar told TechCrunch, but very few are focusing on commercial real estate, where lending is sensitive to interest rates and total amortization. In addition, property owners have a burden of refinancing every five to 10 years.

“Legacy businesses like JLL, which is an investor, Cushman Wakefield and CBRE work on lending, but they are much more ‘relationship focused’ than tech focused,” Zar said. “We think that it is a necessary part because the deals are so large and complex that you need a relationship for them, but transactions less than $1 billion are pretty straightforward. On experience and product, no one is close to us.”

Initially, Zar and his team wanted to build the “Rocket Mortgage of commercial real estate lending,” but found that to be difficult because real estate brokers are putting together their own pitch books for lenders. Instead, Lev is building a technology platform of more than 5,000 lenders with information on what projects they like to finance. It then analyzes a customer’s portfolio and connects them in minutes with the right lender, taking 1% of the loan amount for each transaction as payment. Lev is also working to be able to close deals online.

Zar wasn’t looking for funding when he was approached by investors, but said he was introduced to some people who liked the company’s growth and trajectory and decided to accept the funding offer.

He intends to use the new funding on product development, with the aim of giving a term sheet in seconds and closing a loan in seven days. Right now it can take a week or two to get the term sheet and 45 to 90 days to close a loan.

The company has about 40 employees currently in its New York headquarters, Miami R&D center, Los Angeles outpost and remotely. Continued investments will be made to expand the team.

Lev grew 10 times in volume in the past year, closing approximately $100 million of loans in 2020. Zar expects to close over $1 billion in 2021.

“Customers come back to us repeatedly, and there are a ton of referrals,” Zar said. “We want to be the platform on which capital market transactions are processed. You need an advantage to network and find great deals. I don’t want to mess with that, but when you find it, bring it to us, we will close it and provide the asset management with the best option to close online and manage the deal from a single platform.”

Meanwhile, Pete Flint, general partner at NFX, told TechCrunch that he got to know the Lev team over the last 18 months, checking in on the company during various stages of the global pandemic, and was impressed at how the company navigated it.

As co-founder of Trulia, he saw firsthand the problems in the real estate industry over search and discovery, but as that problem was being solved, the focus shifted to financing. NFX is also an investor in Tomo and Ribbon, which both focus on residential financing.

Wanting to see what opportunities were on the commercial real estate side, Flint heard Lev’s name come up more and more among brokers and industry insiders.

“As we got to know the Lev team, we recognized that they were the best team out there to solve this problem,” Flint said. “We are also among an amazing group of people complementing the round. The folks that are deep industry insiders will put a helpful lens on strategy and business development opportunities.”

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Source: https://techcrunch.com/2021/07/20/commercial-real-estate-lending-startup-lev-brings-in-30m-on-a-130m-valuation/

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