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WATCH: Top brokers discuss navigating Miami’s resi slowdown
Brokerages are marketing more toward domestic buyers and ramping up research
When it comes to selling Miami, nobody does it better than the brokers who make their livings off the city’s real estate market. That’s why The Real Deal assembled five residential heavy hitters to explain how they’re contending with the market slowdown, and analyze where Miami’s housing market is headed in the near future.
Panelists included Mark Zilbert of Brown Harris Stevens | Zilbert, Craig Studnicky of ISG, Mayi de la Vega of One Sotheby’s International Realty, Andres Asion of Miami Real Estate Group, and Jay Parker of Douglas Elliman.
One of the major takeaways was that these top brokers are now shifting their focus to domestic buyers, as demand from foreign nationals has waned in the past year due to a strong U.S. dollar and uncertainty in financial markets abroad.
“We have turned more to the domestic market,” de la Vega said. “This week alone, we’ve been meeting with our partners in Dallas, Chicago, New York and Washington.”
Buyers are becoming more choosy as well, putting the onus on realtors to do their homework and find deals their clients would still be interested in. Check out a full breakdown of the discussion here.
The panel, dubbed “Post peak planning: Analyzing the future of South Florida’s residential market,” was one of five hosted by TRD at its largest-ever South Florida Showcase & Forum on Oct. 20 at Wynwood’s Soho Studios. More than 4,500 brokers, developers and taste makers came to network and check out South Florida’s latest projects.