According to the South Florida Business Journal, a majority of home buyers want to relocate to Miami. This means that the always-hot Florida real estate market shows no sign of cooling off. Florida real estate agents definitely have a lot of work, and this will go on for the foreseeable future.
Some high-profile sales, such as Kate Upton and Justin Verlander's Jupiter, Florida, home, have brought back public attention on the luxury real estate market in Florida. Although it's always been known as a state for vacationers and golf lovers, other high-end opportunities are opening up in the state. Let's have a look.
The Luxury Real Estate Market in Florida
Florida has always been a destination for luxury real estate, especially in its more resort-heavy and tourist areas. From West Palm Beach's growing "Wall Street of the South" to Tesla's partnership building green homes in the Garden's Avenir area, Florida's real estate is anything but stagnant.
Orlando, for example, saw its biggest luxury home sales month in July 2021. Miami is not left behind, as luxury homes priced slightly lower than in Palm Beach see soaring interest (and sales). Other areas like Delray Beach are allowing new luxury developments on prime beachfront locations. Central Florida is also seeing luxury real estate investments in Orange and Osceola. In Tampa Pay, observers have noticed a trend in people buying older oceanfront properties only to tear them down and rebuild something more modern.
Anywhere you go in Florida, there are luxury real estate opportunities waiting. But how exactly do you break into this market as a new real estate agent? Here are a few tips.
How To Break Into Florida Luxury Real Estate Sales
Making your way to the luxury market requires a little work, but is not impossible for any motivated and skilled real estate agent.
1. Become a Marketing Expert
One way to be different from other agents is to develop excellent marketing skills. There is more to selling a house than staging, photos, and visits. Take advantage of all the tools at your disposal: video cameras, YouTube, social media, and email marketing. Some of the most successful luxury real estate agents have marketing strategies that are different from the rest. They stand out.
2. Mingle with Locals
When looking to break into a new market, it's important to get to know the people who will sell and buy the homes in the area. Take the pulse of a new town by working from a coffee shop or restaurant, attending its events, and getting to know other real estate agents there. In the luxury market, new agents often get a break by co-listing a home with a more experienced colleague. It's a great way to build your reputation and get your foot in the door.
3. Get a Luxury Certification
Real estate agents can get an extra certification for luxury sales, such as Global Elite and others. This certification gives you not only training in the specifics of luxury real estate but also access to a large network of luxury real estate agents. Investing in such a certification can improve your sales potential and open up a whole new area for professional development.
4. Network with Banks and Private Lenders
If you don't know how to reach luxury buyers directly yet, maybe you can network with those who lend them money — banks and private lenders. Many real estate transactions do not make it to the listing phase, and knowing people involved in these private real estate deals may give you access to a sizeable (and invisible) client pool.
Of course, before you can become a luxury real estate agent, you will need your real estate agent license from the state of Florida. If selling luxury homes is part of your professional ambitions, Florida is a great choice for year-round opportunities.