Key Highlights
- Forbes Global Properties showcases world’s premier luxury homes and stories behind those homes
- New curated-consumer marketplace that connects buyers directly to luxury homes and “best-in-class” agents who represent these homes
- Start-up capitalizes on Forbes’ audience of +140M monthly global visitors
Conceived and spearheaded by two luxury real estate industry veterans, Jeff Hyland, co-founder and president of Hilton & Hyland, and Bonnie Stone Sellers, CEO of Crossroads Property Strategies and member of Board of Overseers at University of Pennsylvania’s Weitzman School of Design, Forbes Global Properties is, according to Mike Federle, Forbes CEO, “…a natural extension of our brand…recognized around the world as the benchmark of success.”
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Based in Beverly Hills, Forbes Global Properties just may be “…the Zillow of high-net-worth individuals for real estate,” said Hyland. Independent, global member agents are highly vetted in order to join this exclusive network who represent the world’s most extraordinary and distinguished properties. Member agents pay annual membership fees unlike Zillow’s pass-through fees.
Sellers said, “Top real estate industry professionals now have an opportunity to capitalize on the immense global reach of Forbes (with its audience of +140M monthly global visitors) in the creation of an impactful luxury market presence which is owned and led by brokerages.”
Currently, there are 75 independent founding member brokerages with an expectation to have no more than 100 as a reflection of the company’s commitment to exclusivity. Also currently, 50% of the property listings are US-based and 50% internationally based. Properties range in price from $10M to above +$100M with over 200 homes priced above $10M.
Properties listed in the US are located in, according to Hyland, “three great markets…” the Hamptons (home and respite for New Yorkers), Palm Beach FL (taxes) and California (weather). Most, if not all, of the properties showcased on Forbes Global Properties will be second, third and/or fourth homes for owners who then choose which home to claim as their home operation. That choice will likely be based on tax purposes.
Profit generation by Forbes Global Properties is based upon highly specialized advertising revenue from such elite businesses as Richard Mille watches and Aston Martin, just as “regular” Forbes luxury and destination advertisers.
With professional histories that express their deep-rooted passions for business by serving the most high-net-worth, influential individuals with exclusive, high-end properties, Forbes Global Properties does feel like a “natural extension” of the Forbes brand…”recognized around the world as the benchmark of success.”
Thanks to Forbes, Yahoo Finance and the Los Angeles Times.
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