Weekly Real Estate News Quiz: Think You're Up On The Biggest Headlines?

From a sitcom home price cut to a big bidding war prediction, the real estate industry threw some curveballs this week. Take Inman's real estate news quiz to demonstrate how strong your talking points and cocktail banter are this week.
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This brokerage announced Tuesday it will allow real estate professionals who identify as minorities, LGBT, women or military veterans to launch new franchises without paying the normal franchise fee.

In a major new effort to increase diversity among its ranks, Coldwell Banker announced Tuesday that it will waive franchise fees and give other financial support to would-be franchise owners who self-identify as minorities.

The new offering — dubbed the Coldwell Banker Diversity in Ownership Program — is available now to any real estate professionals who identify as racial or ethnic minorities, as well as women, military veterans and agents who identify as LGBT. Members of those groups can apply for the program and, once accepted, will be able to start a Coldwell Banker franchise without paying the normal $25,000 franchise fee.

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Teresa Grasmick, a property manager in Denver, operates her so-called Mile High Club Chalet at four locations in the city. What is it?

Hourly rate rentals.

A special request made by a close friend got Grasmick’s wheels turning about starting a new business, a “hot-sheet hotel” she’d name the Mile High Club Chalet.

“I also had a friend who would ask to use it either overnight or for a few hours,” she said, hinting at the friend’s need for a place to carry out his extra-marital adventures.

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In a column on Monday, Brad Inman set out to draft a new language to describe the world’s burgeoning real estate eco-system. Which of these terms did he not attempt to define?
On Wednesday, Inman reported exclusively that proptech firm Firepoint had merged with this startup.

Real estate CRM Realvolve and multifaceted proptech firm Firepoint have merged. News of the merger, in the works since April, 2019, was shared exclusively with Inman.

The company is working with a consulting firm to arrive at a new name. Customers can expect to still hear from each respective company until branding is finalized.

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Low-income renters are being evicted in droves for this infraction, according to Inman’s Marian McPherson.

While marijuana is going mainstream, legislators across the country are cracking down on cigarettes by implementing smoking bans in workspaces and other public places. However, these bans are now being implemented in multi-family housing developments, placing renters who smoke at risk of being evicted.

The Washington Post on Monday shared the story of Taja Robinson, a mother of two and grandmother of one, who received a 30-day eviction notice for allegedly breaking her apartment complex’s rules that ban smoking in units and common areas.

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An “intense season of bidding wars” is on the horizon, declared this CEO on Wednesday.

Redfin CEO Glenn Kelman said Wednesday afternoon that the problem of extremely low housing inventory has spread to numerous markets in the U.S., and is setting up the coming months to be a period of intense competition among buyers.

“This is why Redfin has braced for the most intense season of bidding wars since at least the first half of 2018,” Kelman said.

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This film-producer-turned-developer just sealed a deal for his 20,500-square-foot Opus mansion in Beverly Hills, marking one of the most expensive real estate transactions in Los Angeles this year.

Known for his extravagantly over-the-top Los Angeles mansions, film-producer-turned-developer Nile Niami has just sealed a deal for his 20,500-square-foot Opus mansion in Beverly Hills.

According to the Los Angeles Times, Niami, who produced Resurrection, The Patriot and Galaxis among other movies, found the buyer for the property on his own. Together with the custom Italian furniture and cars inside, the Opus sold for just over $50 million.

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Last week, Corcoran announced its first franchise in San Francisco. This week it announced its second in this state.

Corcoran announced Wednesday it is launching a new Central Florida franchisee, Corcoran Premier Realty. The company’s second franchisee — after Corcoran Global Living — is a result of Premier Realty Partners, a 20-agent, two-office indie brokerage, affiliating with the company.

On the company-owned side, Corcoran already has a major presence in Palm Beach and Miami Beach, Florida, but this is the company’s first affiliated offices off the coasts.

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The residents of Lake Wylie, a suburb in this state, recently put a 16-month moratorium on commercial and residential rezoning requests, as well as consideration of any new apartment complexes or subdivisions, thanks to overdevelopment in the small hamlet

The residents of Lake Wylie, South Carolina, know what growing pains feel like. The town’s population has tripled since 2000, largely because of the area’s good schools, low taxes, and close proximity to Charlotte, North Carolina, where there’s a strong financial and tech job market.

But word about the good living in Lake Wylie seems to have gotten out too quickly, because the town’s infrastructure is now cracking under the pressure.

So much so, that the York County Council recently put a 16-month moratorium on commercial and residential rezoning requests, as well as consideration of any new apartment complexes or subdivisions in the town of 12,000 people.

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The real-life home that appeared in this classic television sitcom got a $500,000 price cut after languishing on the market for nearly a year.

The Tanner family home is not proving to be an easy sale.

After nearly a year on the market, the San Francisco Victorian home used to taped the iconic family sitcom "Full House" has been cut down by $500,000. Originally listed for $5.999 million, it is now up for sale for $5.499 million.

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