Bess Freedman, Brown Harris Stevens’ second-in-command, recently sat down with The Real Deal’s Hiten Samtani to discuss the firm’s brokerage buying spree in South Florida.
The New York-based residential brokerage made its first big splash in South Florida when it purchased Zilbert International Realty in June 2015. Its acquisition of Avatar Real Estate Services and Ocean Club Realty last year further its expanded its foothold in the market, where New Yorkers represent a good chunk of the buyer pool.
“It’s almost like Palm Beach, Miami, the Hamptons — I think there’s that synergy with different places,” Freedman said. “New Yorkers buy in Miami, it’s back and forth.”
Compared to the New York, however, Freedman said the Miami market is more “challenging.”
“Miami is a heavy investor market,” Freedman said. “When the market is tight and things are not moving, I think Miami is impacted.”
She also addressed commission splits, comparing New York’s 75 percent to Florida’s 85 percent.
“It’s harder to make money when the margins are so thin,” Freedman said. “I think we offer the absolute best splits in the industry. It’s based on merit. Nobody gets offered the same deal.”
Watch the video above to see the conversation in full.
Produced by Alistair Gardiner and Kerry Barger. Interview conducted by Hiten Samtani