On Inman on Tuesday’s Tour Miami, Miami’s Palm Beach luxury agents and 30A said their market has expanded beyond their second home destinations and that their collaboration is a success.
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Since the Covid-19 pandemic, Florida has become a hot spot for second home buyers and wealthy clients looking for a more relaxed lifestyle.
But what many discovered when they flocked to the beach oasis was a destination that allowed them to settle in full time, in addition to their tax benefits.
During the tour Miami Inman on Tuesday, a top agent based in Miami, Palm Beach and 30A spoke similar stories about a client who decided to come to the area and stay for a long time to escape.
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“I think Miami is a very dynamic city and has grown incredible ways from holiday destinations to places with tech companies. “And people live here and are relocating here. That’s not a holiday destination anymore.”
Danny, Hertzberg’s son, who is also on her real estate team, added that she eventually took the business to Miami with them, creating a snowman effect, as it is tied to finance and other industrial hubs in different parts of the country.
“The growth was truly incredible,” said Danny Hertzberg. “So the city has gone from being a beach-like thing that drives a lot of the economy here to a major residence.
Holly Meyer Lucas of the Meyer Lucas Real Estate team operates with Jupiter and Palm Beach and said that the recent wealth migration has provided great opportunities for real estate agents in the area.
“We are in one of the most important mass migrations of wealth and population in American history,” Lucas said.
She added that agents should sit on the decision-making committee of their local municipalities to take the opportunity to promote development in these transition areas and help them better serve clients with more inventory.
More people began learning about the pristine, planned community at 30A, where Corcoran Reverie’s Hilary Farnum-Fasth was operating during the pandemic, and then saw “explosive” growth in the market.
“We saw a huge spike,” Farnham Festa said. “It was incredible because no one knew it.”
As new residents continue to search for homes in Miami, Elder Herzberg said that what’s interesting is calling clients who moved into the area in 2020 and wondering if they’re ready to sell (and thus they can release more inventory).
“That’s incredible here,” she said.
The successful agents in these desirable markets are those who are over-rising in the community, Inman panelists said about the country club, from local schools to hair dressers to what happens next.
“Then they think of everything locally, especially those relocating to our market. “If your clients see you as a local resource, you don’t have all the answers, but you know how to connect dots and get the right type of lawyer for the dock.
Beyond that, it’s about working well with other agents to get the deal done, Lucas said. She recalls that when she was in the advanced stages of pregnancy with her third child and showing her fortune to a buyer represented by Jill, she had a difficult day and asked her to drive her and her client a little because she was feeling unwell.
“And my point about this is that she gave me the opportunity without missing a beat, throwing a bus, turning, or doing something odd like a lower agent. If my buyers gave me the opportunity to answer my questions, she introduced me and I introduced her.
“The way you can really cannibalize your career is by being Shellkey and being offensive, and that’s not how we operate at the top of the market,” she added.
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