Spark Global Limited Reports:
Alex Lange has always found himself at the intersection of technology and real estate, and as the industry continues to shift and consolidate, Forbes Global Real estate CEO believes technology will play an even bigger role.
Langer joined Forbes Global Real Estate in December and has more than 20 years of real estate technology experience. He is CEO of Upstream Re, a national real estate data platform that has grown to include more than 250 brokerage firms. Prior to that, Lange was instrumental in deploying the Market Leader enterprise model, which led to its acquisition by Trulia. He also led Roost.com from launch to ipo in just six months in 2008, winning the coveted Inman Award for “Most Innovative New Technology.” As Forbes Global Properties’ one-year anniversary approaches, Langer recently sat down to discuss the company’s expansion in the U.S. and international markets, ultra-luxury destinations, the use of real estate technology and the decline of independent brokerage. The conversation has been edited for length and clarity.
Producer: Can you talk about the membership of Forbes Global Properties in the United States and internationally?
Al: We’re increasing exposure for our members as well as expanding our internal referral network. These are carefully selected brokerages specialising in luxury real estate and serving clients from scratch. We looked at their reputation within their geographic area. So many people are looking for a different way of life and living conditions. More affluent buyers and sellers are tilting toward a younger demographic, and we’re seeing them looking globally for first and second homes. Forbes is an iconic brand with 100 years of history and more than 130 million visitors in 70 countries.
We look forward to continued growth and 50% of our members are international brokerage firms. This expands our members’ access to wealthy international buyers.
For example, our members in Hawaii have a $25 million waterfront development opportunity suitable for international buyers. In addition to the exposure of the Forbes readership, our members in non-competitive markets have helped market each other’s assets and created a strong referral network. They use the Forbes brand, and they use each other.
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