If you’re a broker or agent in Miami, you’ve no doubt seen the statistics on luxury property sales over the last two years. The numbers are extremely favorable, and they’re showing no sign of slowing down. At TREM Group, we’ve seen more Realtors trying to cash in on the opportunity for large commission.
According to the most recent numbers from the Miami Association of Realtors, luxury home sales in Miami are continuing their upward trajectory. Year-over-year inventory was up 5.3 percent by the end of the third quarter of last year, and the number of single-family homes worth over $1 million sold during those three months was 258 — 13 more than the preceding three months.
All of this goes to show that the appetite — domestically but in particular globally — for luxury property is not waning, despite recent efforts from some regulators to limit the flow of foreign money into the United States (and especially Miami). Foreign wealth will always find a way. It’s our job in the Miami real estate industry to try to attract it.
But competition is intense. Given that 85 percent of real estate transactions begin online, a Realtor’s online marketing strategy can be the difference between cashing in or missing out. In the last two years, we’ve had more and more agents and brokers turn to us for luxury solutions. To that end, it’s important for us to understand what luxury buyers want in order to provide them the best service. Luckily conducted a survey a couple years ago that can shed some light on that. We posted on their survey at the time, and you can check out a summary of the results on this TREM Group blog. (Basically, resale value is very important, and finding the right property is the most difficult part of luxury home buying — we can help with that!)
If you want to learn more about online marketing for luxury home buyers, call us today at 305-705-5000.