Forbes launches worldwide luxury listings platform

LA brokerage co-founder Jeff Hyland and former Christie’s CEO Bonnie Stone Sellers will lead Forbes Global Properties

 Bonnie Stone Sellers and Jeff Hyland with the platform (Linkedin, Getty, Forbes)
Bonnie Stone Sellers and Jeff Hyland with the platform (Linkedin, Getty, Forbes, iStock)

Forbes is launching a worldwide high-end home listings platform that won’t charge a commission but whose members will pay annual dues.

Forbes Global Properties will list only homes above $2 million, according to Yahoo Finance. The venture could be described as a high-end Zillow or Redfin.

Jeff Hyland, who co-founded Beverly Hills-based luxury brokerage Hilton & Hyland; and Bonnie Stone Sellers, former CEO of Christie’s International Real Estate, will lead the new platform. She will have the title of chairperson.

Forbes said the platform will capitalize on its built-in audience of readers “to connect, inform, and inspire high-net-worth potential homebuyers and sellers about the finest properties for sale around the world,” according to its news release.

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Forbes calls the platform an “invitation only network” for agents “to collaborate and transact without the imposition of referral fees.

The platform charges no commission, but members will pay annual dues. While it is described as an invitation-only service, nonmember agents can also pay to list properties.

The venture has member brokerages in 75 countries, according to Yahoo Finance. Hyland told the Los Angeles Times that he expects “to have no more than 100 independent offices” globally with listings on the platform.

As of Monday morning, there were 724 homes listed on the platform. About half are in the U.S. and half are elsewhere around the world, according to Hyland. Forbes said that 200 homes are listed for more than $10 million. [YF, LAT] — Dennis Lynch