Steven John, president and CEO of Berkshire Hathaway affiliate HomeServices Relocation, recently closed a client file where a corporate executive’s move involved two property transactions totaling $2.5 million. This is an extreme example of an executive move, John takes pains to say — it’s above average — but it shows how lucrative it can be for the real estate industry when a company decides it wants to move an employee from point A to point B. These employees tend to be high quality, he said.
The Airbnb phenomenon has widened the sharing economy culture and is becoming more accepted legally and socially. The results are proving to be lucrative for hosts and for travelers, who are now enjoying the extra space for a lower price.
After real estate broker Iddo Gavish started making a killing by buying and renting out houses on Airbnb, some local investors took notice. “I’ve had many people approach me, and a lot of people are jealous,” said Gavish, CEO of Las Vegas-based Gavish Real Estate, a brokerage and property management firm that specializes in distressed sales. “They said, ‘Why don’t we do it on a bigger scale?”