Longtime independent broker Mike Pappas said he believes Miami-Dade and Broward counties are “moving from a distressed market to a real market,” one that will shed investors and opportunistic buyers.
Pappas, owner with his brother Tim Pappas of Keyes Co., runs one of the few big independent real estate brokerages in South Florida, handling more than $3 billion in annual sales. Pappas spoke to the Miami Herald about market conditions in South Florida.
Pappas said he is “bullish on our expanding economy and the strong world desirability for South Florida.” While neighborhood expertise is key, because of the international allure of Miami, his firm needs to maintain a global, internet presence, he said.
He characterized the advent of online real estate data as a “revolution,” and said that we are in the embryonic stage of using data to predict consumer behavior.
“The interpretation, understanding and ability to communicate the trends and their significance are critical,” Pappas said. [Miami Herald] – Jennifer White Karp