Real-Estate Magnate Deals with Criticism on Proposed Deal
Nicholas Schorsch, whose multibillion-dollar real-estate empire was rocked by an accounting scandal 2 years earlier, has actually come under fire from an independent director who resigned from among the companies Mr. Schorsch manages because he believed it struggled with a conflict of interest and was failing to act in the very best interest of investors.
Robert Froehlich, whose background consists of about three years in the asset-management market for firms consisting of Deutsche Bank AG, resigned last month from the board of Realty Finance Trust Inc., a real-estate company managed by Mr. Schorsch’s company, AR Global.
Real estate CEO Angus Raine on highs and lows of Sydney property
Standing in the manicured back garden of his Darling Point home, the fourth-generation property executive recalls his hopscotch climb through Sydney s property market, a journey he says lots of homebuyers have actually forgotten.
As a 19-year-old in the late 1980’s he bought and moved into a shabby balcony tucked behind Edgecliff Station, and on to a string of terraces and bungalows before 2006, when his spouse, Tash, spied a classy 60’s Darling Point home up for sale on her school run. We called it the property ladder, but that’s a term that’s totally gone out of the vernacular nowadays, says Raine, now president of Raine and Horne.
Real estate sale influences Highland Park graduate to open Door, try flat-fee technique
Would you lose your home with a fledgling realty company if it would save you thousands of dollars in sales commissions.
Alex Doubet is betting you will.
The 28-year-old Harvard grad plans to upend the method individuals buy and sell their houses. And he’s apt to stir up a hornet s nest in the process. Six months back, Doubet launched Door LLC, a full-service brokerage that charges a flat $5,000 commission for either side of a home sale, compared with the 6 percent normally charged by Realtors to sell a house.