When news of Russia invading Ukraine began in February, the country was hit by a slew of sanctions from Western nations, and many of the most prominent members of international business scramble to divest their assets.
As the conflict dragged on, and Having failed to capture the capital Kyiv, the Russian military is now focused on slowly taking territory in eastern Ukraine. Millions of refugees have fled the war-torn former Soviet state to the West, where they have found a network of support.
Out of horror at the atrocities being committed in Ukraine – which result War crimes allegations for Russian Soldiers – Individuals around the world have gone so far as to shelter refugees in their own homes or donate to fundraisers for individual Ukrainians and charities.
Fortune 500 companies like Google’s parent company Alphabet have raised millions of dollars in donations and support for Ukrainians. Small businesses across the country have also held fundraisers, including Manhattan’s Veselka Ukrainian restaurant, which is donating all proceeds from the sale of its borscht to benefit Ukrainians abroad.
Ripples were also felt in the real estate industry, as international brokers felt pressure to withdraw their businesses from the aggressor nation, while some coordinated fundraisers of their own or worked to help refugees find shelter.
Ahead of this month’s quarterly results, Inman has compiled a non-definitive list of actions that have or have not been taken by many of the largest players in the residential and commercial real estate space. While by no means exhaustive, it is based on public announcements, coverage and information provided to Inman by companies.
This post will be updated as real estate companies continue to contribute in ways big and small to defending Ukraine against Russia.
Airbnb: The home-sharing giant made headlines early in the conflict for pledged to temporarily house 100,000 refugees fleeing Ukraine free of charge. The stays are funded by Airbnb donors and coordinated with the governments of countries hosting refugees, including Poland, Germany, Hungary and Romania.
Brookfield Wealth Management: No official answer.
Brown Harris Stevens: The Manhattan brokerage firm launched a fundraiser to benefit the International Rescue Committee, matching each donation by up to $10,000 in March.
CBRE: In response to the Russian invasion of Ukraine, CBRE – one of the largest commercial real estate brokerage firms in the world – has closed its Moscow office and terminated two related relationships in Russia. It has publicly condemned the invasion but continues to have a limited number of staff in the country who manage the facilities under existing contractual arrangements with multinational clients. According to a spokesman, employees have also donated money to support employees at CBRE’s subsidiary in Ukraine.
Century 21: The residential real estate brokerage firm opened its first brokerage businesses in Russia in 2007 and made the decision to withdraw its business from the country shortly after the conflict began. A brokerage firm that still operates in the country, C21 Russia, is not affiliated with Century 21 Real Estate, according to a company spokesman. Century 21’s parent company, Realogy, also started a fundraiser.
Christie’s International Real Estate: Thad Wong and Mike Golden, co-CEOs of the international real estate brokerage firm, made an internal company-wide announcement expressing their support for Ukraine’s right to defend its democracy, and according to a company spokesman and a copy of the internal memo, the was shared with Inman.
Compass: Compass started a fundraiser in favor of several organizations that coordinate humanitarian work on the ground, including the Ukrainian Red Cross, United Help Ukraine, Nova Ukraine and Save The Children.
Corcoran: Through Corcoran Cares, the brokerage firm raises funds for United Help Ukraine, whose mission is to redistribute donations to individual Ukrainians in need.
Crown Castle International: No official answer.
Douglas Elliman: The Mediation started a fundraiser through his philanthropic arm Elliman Cares in aid of the American Red Cross.
Engel & Völkers The international luxury brokerage company has been very active in the Russian market and even listed the Russian market Apartment of the daughter of Russian President Vladimir Putin – until the outbreak of war in February, when the decision was made to withdraw from the market, according to company spokeswoman Mariko Obermeier. However, Engel & Volkers has a franchise partner that currently operates out of St. Petersburg, and Obermeier said the company is working on terminating his contract.
eXp: No official answer.
Keller Williams: Through their regional owners in the Czech Republic, Poland and other parts of Central and Eastern Europe, Keller Williams subsidiaries helped with the evacuation Refugees with shelters in their offices. According to Bill Sotteroff of Keller Williams Global, the brokerage firm also raised money to provide essentials like food, water and diapers for the refugees taking refuge in its offices.
My home group: No official answer.
relocation inc: The subsidiary of News Corporation and parent company of Realtor.com has a contractor in Ukraine that Inman has learned made efforts to reach each contractor and ensure their safety. In addition, donations went to aid organizations such as the International Medical Corps and the United Nations High Commissioner for Refugees.
Nest Finder International: No official answer.
NAI Global: The commercial real estate brokerage firm divested itself of its member firm in Belarus after that country supported Russia’s invasion of Ukraine. According to a spokesman, the brokerage firm has no member firm in Ukraine.
Prology: Commercial real estate brokerage is well represented in Poland and has Free storage space offered to organizations that help with the large influx of refugees into this country.
realology: The brokerage giant, whose subsidiaries include Better Homes and Gardens Real Estate, Coldwell Banker, Corcoran and Sotheby’s International Realty, launched an internal fundraiser for the Red Cross that raised over $350,000 in addition to a $50,000 donation from Realogy .
Redfin: No official answer.
Sotheby’s International Realty: While its parent company Realogy has been conducting major fundraisers, Sotheby’s has also made the decision to curtail its sole franchise in Russia, according to an agency spokesman.
VRBO: No official answer.
Zillow: No official answer.
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