When choosing a Miami Beach Realtor you do research, you ask around and you look at real estate sales and movement in your area – but do you know what to ask a Miami Realtor once they are in front of you? Here are some basic questions you should ask to help you make an informed decision when choosing a Realtor.

1. Are they in Real Estate Full Time?

This is huge since a lot in the industry have had to take second jobs to supplement their income. You want to make sure that the professional you choose can handle and is focused in handling your real estate needs at a moment’s notice.

2. Do they know sign language?

Communication is key between parties and that’s the number one objection we hear from our customers about the real estate industry. Ask how your Realtor will communicate with you during the process – regular e-mails, phone calls, smoke signals, snail-mail, telex (I’m dating myself here).

3. How will they promote, push and plug your property?

The word “marketing” can be very broad. Make sure the agent details their marketing plan with specifics – Social Media, Print advertising, Internet and Traditional methods. Placing a property in the MLS and putting a sign in front of a property is not enough in today’s market.

4. Who will do the honors?

Ask who will show your property – will they have an assistant available or will they use the legendary lock-box? If this is important to you, make sure you ask. I would also make sure to ask who will have the keys to your property and how will access be granted if they are not the ones showing the property.

5. Do they answer their phone?

I know this seems trivial, but you would be surprised how few agents answer their phone and actually return messages in a prompt manner.

6. Do they have paparazzi qualities?

This is the number one complaint from buyers today – when looking for properties they skip the ones without photos or the ones with bad or few photos. Make sure you ask your agent how quickly they will photograph the property and include those photos in all marketing and who will take the photos. (there’s an inside joke in the industry about agents who photograph toilets). Sometimes a creative eye that discriminates a particular property feature will attract traffic to the listing.

7. Can they dance?

Once your property is under contract – how do they manage the transaction? Are they experienced in dealing with all the problems and objections of today’s real estate market. Many contracts that fall through due to poor transaction management.

8. Do they sleep around?

Will they look out for your best interest or theirs? This is a difficult question to ask and you need to be able to discriminate against true and honest answers.

9. What’s their annoyance factor?

It is customary for agents to keep in touch with you so you remember them and refer them business. It’s never a bad idea to ask how they plan to do this. This is very personal since you may not mind drip campaigns for the rest of your life made up of postcards and recipes, phone calls and inquiries. But this is also a great way to learn about the agent’s business practice.

**one of my faves – originally written on January 24th, 2009**

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Seth Godin does it again asking “Where have all the agents gone“?  – In this world of intermediation and educated consumers it is an excellent question to ask.  If the middleman brings no value to a transaction, then there is no need for him.

With regards to Miami Beach real estate we deal with many types of consumers – the consumer that believes that buying  real estate is only about finding the property and making an offer (obviously that consumer has little use for a Realtor) – and the consumer that finds an agent that brings so much more and represents their best interest without a doubt.  There’s also the real estate seller that believes they can do it on their own by putting a couple of ads on-line and a sign in front of their house (again….that seller does not need an “intermediator”)….although a lot of these “do-it-themselfers” come to us for help after they give it a try.

But a lot of people, because of Internet Marketing and this age of Social Media, believe that some of us do bring value to a transaction and do think it is worth paying a commission and trusting the sale and purchase of their Miami real estate to knowledgeable Realtors who will take care of every aspect of the transaction and will go above and beyond the call of duty.

Think about how anonymous the typical real estate broker is. He will sell almost any house or represent almost any buyer. When selling a house, he has a fiduciary responsibility to represent that house to the best of his ability. Just like every other broker. The great real estate brokers do far more than this.

We do not criticize those that don’t need our services and want to do it on their own – on the contrary, we give them credit for their willingness to take risk – but we give our undivided attention to those that trust us with their investments and value our services.

Love this quote by seth:

When markets change, agents can lead the way, not follow along grudgingly.

So ask yourself the next time you buy or sell Miami Real Estate – will my Realtor add value to a transaction?

**originally written and posted on March 17th, 2009**

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If you are thinking of selling your house, what’s the ideal Realtor for you?

• Is it the one that will tell you what you want to hear?
• Is it the one that will list your house at the highest price?
• Is it the one that works for the biggest brokerage?

If you are like most people, you will talk to a couple of Realtors to get an idea of pricing and see how the market is doing.  You may have an idea of what your house is worth and hope your number is close to reality.  You may even have a grasp of reality but know your house is superior and NEED to sell for more than the market dictates.  Even if you don’t know it, you establish a selling strategy before you even interview a Realtor – you set goals in your head of what you want to happen and have pre-conceived ideas on how to achieve those goals.

When the time comes to interview different Realtors, you will end up hiring the one that comes closer to your predetermined plan.  This may be a good thing if your plan comes close to reality and what’s happening in your local real estate market – but what if you are really off?

So let me ask you a question from a Realtor’s perspective.  Wouldn’t it be easy for me, as a Miami and Miami Beach Realtor, to tell you what you want to hear in order to get the listing?  It would look great in my long register of listings, even if the house doesn’t sell – it’s a numbers game, so the more listings I have, the better the chance I have of selling and making money.

Why can’t you realize that overpricing your house will not benefit you!!

Many agents out there will list it at whatever price you want – it’s simple (and one of the reasons the Real Estate Industry has such a bad reputation).  Here’s another scenario: you may think, let’s list high now and we’ll see if the market responds and then we will lower the price. …but you wait, and wait and wait.  You don’t lower the price and then blame the agent for not doing their job.

I just want you to be realistic here.  Please think strategy before you even list your home.  Please take a deep look into your pre-conceived ideas of what is to happen, and hire a Realtor because they will get the job done right.  Take a look at their reputation, at their ability to market the property not only locally but nationally and abroad.  Take a look at how they will make your property stand out from other listings,  how they will communicate and how available they are.

Then make an educated and rational decision of who’s the best man for the job.  And if you decide not to hire the best one for the job, at least know why you did it.

I’ll leave you with a great article written by a colleague in Tucson:  The Effect of Great Marketing – And Good Pricing

The intent here was to make you think – Please know that our team will always tell it like it is – no fluff, just plain truth.  Keep in mind that if you are looking for fluff, we may not be the perfect Miami Beach Realtor for you.

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People constantly ask me what type of Miami Real Estate or Miami Beach Real Estate I specialize in – is it price range? Is it an area? Is it residential real estate or commercial real estate?  Well…..the answer is any real estate in Miami Beach or Miami’s Biscayne Corridor that is architecturally relevant.

A puzzled look usually follows – what in the world is Architecturally Relevant Real Estate? And why would you specialize in that?

It is common knowledge that if you do what you love, you will be good at it.  If you find your passion and what makes you tick, not only will you enjoy your job, but you will rock at it.  That’s the answer.  I am an architect and light up when I walk into good space, no matter the scale.

Sketch by architecture master Le Corbusier

Whether it is a Miami Beach Luxury Home or a modest Design District Loft – when a space is well designed, following common proportion and context principles, it makes a huge difference.  I was just discussing this past week with clients that just bought a Midtown Condo, how a space doesn’t have to be gaudy or extravagant to be good – there’s a fine line between modest architecture and trendy design that makes good real estate pure and timeless.  Our best clients appreciate good architecture and have a discerning eye – they don’t go for the price just because and can see beyond superficial selling techniques.

Tomorrow we will list a modest MiMo home in Miami Shores designed by well-known mid-century architect, Ungaro.  The house has been owned by the same family since it was built, has not been butchered and although it needs a new roof, electrical, plumbing and central air conditioning – has all the great features of a mid-century home:  from Terrazzo, clerestory lighting and pitched roof.  This house will only be appreciated by someone that knows architecture and will be willing to go through the restoration process.

I love Miami because we have a little of everything and I have so much fun with its eclectic architecture.  Historic Mediterranean Revival homes give me goose bumps, as do South Beach Art Deco lofts.  We have unbelievable talent from Chad Oppenheim to Arquitectonica and Miami Beach Luxury Condos have come a long way from the days of Alfred Browning Parker or even Morris Lapidus.

I have to admit that I find some buildings boring, but sometimes location and views make up for it.  Unfortunately for you, I will be brutal about the “un-architecture” of the space…..if there’s such a thing.  Bottom line, I have fun when I show properties – if you are looking for boring “here’s the kitchen, there’s the bathroom”….I will do you absolutely no good.  We are not your everyday, run-of-the-mill Realtors, our clients tell us so and we look forward to creating new relationships and experiences with every single person we meet.

**Update:  since I first wrote this article, on November 16th, 2008, the Miami Shores MiMO home was purchased by a couple that loved the architecture and was able to see past the work the home needed…they are doing a beautiful job with the restoration and complimenting existing details with new addition**

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Here’s the scenario, you are buying a Miami Beach home with a septic system and logic tells you to have it inspected – pretty straight forward up to now.  So you ask your Realtor to recommend home inspectors and you do a bit of research on your own.  You finally hire a home inspector and find out that they have to subcontract the septic inspection and you figure everything is fine….this is when it starts getting hairy.

How do you know that the subcontracted company is legit?  Better yet, how can you guarantee that they will perform an objective inspection and will not damage anything in the process?  How do you make sure that the septic company you hire will do the necessary research to locate the system and will not break a lid or destroy landscaping or God forbid be respectful of someone else’s property?

It happens to us too often and no matter how we try to foresee problems, something really wrong always happens.

• From the company telling you that the system is damaged just so that they can get the gig <<<conflict of interest!
• To inspector showing up unannounced, digging up half the yard, damaging lids and then claiming system is not working properly
• To them knowing ahead of time system is older than “customary-life of septic systems” and making you pay for an unnecessary inspection that they know they will fail regardless of condition.

The list goes on an on, sadly, everyone looses, whether you are the buyer or seller of the property.  I still have not come up with a solution to this problem, and I’m sure there are reputable septic inspectors out there (just have not met them yet).  The closest suggestion I have is to first make sure that you sign an agreement with the inspector assuring them that no matter the findings, they will not be performing the job (that should cut out the conflict of interest).  Second, make them sign a release in case they damage the tank in the process (this may not be an easy task).

The easiest solution is to educate yourself about septics.  How much will it cost to replace tank and drain field?  What are the signs of a non-functioning or failing septic without even having to open lids to visually inspect?  When do you have to become concerned about a septic system?  If a septic system has a “said” life expectancy of 15 years, how come we see 50 year old septics in perfect condition?  If a septic system is supposed to be pumped out every few years, how come we see septics in perfect working condition that have NEVER been pumped out?

In my opinion, the whole septic industry is very wishy washy, and there are no objective and/or proven expert opinions out there.  The basic truth is that septics are fairly inexpensive, are low maintenance, and usually easy to fix.  There are tale tale signs that a septic is failing when a home is occupied:  sewer smell, constant backed up toilets, collapsed lids or holes in yard.  An empty house is reason for concern, but not the end of the world either.  So think about who you hire to inspect and think twice about inspecting – you may be doing more damage than good in the end.

related reading:

Aroma: Miami Real Estate’s 5th sense

Miami Beach Home Inspections Continued

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Why would you need a REALTOR? really?  Have you ever questioned the need of an third party in a real estate transaction?  The only parties you really need are a willing seller and ready and able buyer….the rest of the intermediaries only cause problems, right?

The answer is yes if you live under a rock where local rules and regulations as well as national mandates don’t ever interfere with your life.  The point is that there are “specialists” and “professionals” in every field.  They are there to make the process easier, to diminish pressure and carry out tedious roles.  Of course you don’t really need them, the same way you don’t need a receptionist to answer the phone, a secretary to file your paperwork or an accountant to file your taxes.

If you are a “do it yourself” type of person, a control freak, incapable of delegating and one that gets off on dealing with mundane and aggravating issues, please don’t even call a REALTOR.  We totally encourage you to do it yourself, you will be wasting everyone’s time in addition to not getting things achieved your way.  Please don’t expect a cut on the other agent’s commission though – doing it yourself, will just mean that the other guy will make more money – guaranteed.

Now…if you appreciate the knowledge and experience of those are immersed in the business.  If you can see value in working with those that  have learned the intricacies of real estate transactions and the local nature of the real estate market.  And if you believe that they will be able to guide and make useful recommendations throughout the process, then you will definitely need a REALTOR.

The reason I’m writing this is because we get approached by 2 types of clients on a daily basis:  those that will never value our expertise and will constantly question our worth, and those that will not even question our involvement and will be happy to compensate our time.

Obviously, we only work with those that value our time and knowledge.  We cut out the noise, get to the point, and help you achieve your Miami Beach home buying needs.

Miami real estate transactions are rarely easy and there are always obstacles either in inspections, title work, coordination, deadlines, contingencies or whatever else – even cash transactions can have problems.  We are here, as your Realtors, to address those problems and will have your best interest at hand.  We are pro-active and will anticipate problems before they even occur and will ultimately, help you achieve your home buying needs.

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With new times and new technology, come new challenges.  The trick is knowing how to address new issues as they come up and being ahead of the game to prevent problems when selling your Miami Beach home. The difference between a good Realtor and a great Realtor is how they handle change – are they proactive or reactive?  Proactive Realtors constantly make alterations to their practice and are able to foresee problems before they come, therefore, avoiding potential future complications.  The alternative  reactive approach is about making changes and adjustments after the complication has occurred, usually resulting in some animosity from the parties involved.

A great example of proactive real estate practices was recently pointed out by a Tucson colleague, Kelley Koehler, in her article Are Wall Mounted TVs a Fixture?

Think about it….how many of us have flat screen TV’s installed in our homes?  Flat panel TVs are almost the norm in Miami Beach Real Estate.  Are these then regarded as “fixtures” that remain with the home when you sell, or personal property that you can take with you?

Kelley points out that

The general rule of thumb is that fixtures stay with the house when it sells and personal property is removed by the owner.

Another general rule of thumb – if it would cause damage to remove it, then it’s a fixture.

So, in my humble opinion, the TV itself is clearly personal property.  You can remove that from the wall mount system without causing any damage.  But what about the mount itself?  Removing that from the wall usually leaves at least 4 large holes in the wall.  Which I think is clearly damage, which would make that wall mount a fixture.

The point here is that you can’t leave this issue up in the air and hope that the results work out in your favor.  Therefore, I totally agree with Kelly that “the best bet is to always specify”.  If you are buying a Miami Beach home or condo and you happen to love the seller’s flat screen TV, think about including the item in your purchase offer.  Everything is negotiable after all.  And, if you are a seller and want to take your lovely flat panel with you, make sure you exclude it from the sale IN WRITING.

Better to be safe than sorry.

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We can’t talk enough about how to price your Miami Beach home correctly from the start. If you look at home sales in the past year, you will notice a trend. Those homes that were priced competitively from the beginning, not only sold quicker, but also for top dollar. You can avoid your home from becoming a stale listing and this article in HGTV’s FrontDoor by Shannon Petrie tells you exactly how to do that.

• MISTAKE #1 – forgoing research
• MISTAKE #2 – Hiring the agent who offers the highest list price for your home
• MISTAKE #3 – Getting emotionally involved
• MISTAKE #4 – Pricing too high from the start
• MISTAKE #5 – Overpricing because you have “time”
• MISTAKE #6 – Chasing the market

Of course there are many other factors that will contribute to selling your home quickly including: staging, decluttering, marketing and making sure the showing conditions of the home are ideal – but we have discovered, together with the rest of the county, that pricing is the number one reason. It’s easy to point fingers after months of having your home for sale, but blaming others won’t get your house sold. Step back and be objective and hire the right Miami Beach Realtor.

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There were 111 Miami Beach Condos sold in February ranging in price from $33,500 for a bank foreclosed Normandy Island studio, to a $3.25 Million South Beach Condo at The Continuum.  Curious how the lowest Miami Beach home sold last month was also in Normandy Island, it’s definitely the place to go for good deals, but many Miami Beach purists don’t even consider Normandy a part of the beach … go figure.  No surprise that 2 of the 3 highest sales were South Beach Condos – South of Fifth properties historically bring the best investment proposition.

February’s Most Expensive Miami Beach Condo Sale

Continuum South Beach:  50 S Pointe Dr #1001/8 – Miami Beach, FL 33139

Listed for $3,500,000 and sold for $3,250,000 on 02/01/2010

The Continuum South Beach keeps bringing us the highest monthly sales (with last month’s highest Miami Beach Condo Sale at $3,482,400).  I personally like the first tower better, but who am I to judge?  The amenities are out of this world and remember that it is the only high-rise South of Fifth that is directly on the ocean.  This particular residence was listed originally for $4,799,000 in February of 2009.  The MLS description says the following:

Spectacular sweeping direct ocean and South Beach views from this 4/4 corner residence with 4 terraces and 4 parking  spaces (2 valet + 2 assigned). Private elevator and foyer, 10 ft ceilings, hurricane glass floor to ceiling windows, marble floors throughout, superior finishes & appliances.  Live in paradise on 13 oceanfront acres at the southern most tip of South Beach with spa like amenities, world-class gym, 3 pools with pool side dining and 3 tennis courts. The Continuum is the preferred luxurious ch

(I guess the MLS ran out of space…..we will never know what “ch” means)

Features:

• Built in 2008
• 3,497 square feet of living space
• 4 parking spaces (2 valet + 2 assigned)
• 4 bedrooms / 4 baths
• marble floors
• beach views
• maintenance fees $3906/month

February’s Second Most Expensive Miami Beach Condo Sale

Apogee South Beach:  800 S Pointe Drive, #702 – Miami Beach, FL 33139

Listed for $3,600,000 and sold for $3,200,000 on 2/10/2010

Apogee is known as the most expensive address when it comes to South Beach condos – This particular residence selling at $1,031 per square foot.  It had been listed since November 2009 for $3,950,000 with a few reductions and a nice final sale.  The view of South Pointe Park, Fisher Island and Government Cut is beyond amazing.  The MLS description reads (yes in all caps):

APOGEE-THE MOST EXCLUSIVE NEW ADDRESS IN SOUTH BEACH. AMAZING VIEWS OF THE BAY, FISHER ISLAND, DOWNTOWN SKYLINE, PORT OF MIAMI, AND THE ATLANTIC OCEAN! 300K IN UPGRADES-CRESTRON CONTROL-TRIAD SURROUND SYSTEM – THIS HOME HAS THE GOURMET KITCHEN ON THE SOUTH SIDE WITH BREATHTAKING WATER VIEWS. BEAUTIFUL SUNKEN TUB AND STEAM SHOWER IN THE MASTER BATHROOM SUITE. ONE OF THE FEW UNITS FINISHED WITH BEAUTIFUL 3′X 3′ ITALIAN MARBLE FLOORS. BRING YOUR PICKIEST CLIENTS AND MAKE AN OFFER ON THIS UNIQUE HOME!

Features:

• 3,103 square feet of living space
• 2 parking spaces
• 3 bedrooms / 4 bathrooms
• bay views
• Marble floors
• custom surround sound system
• Built in 2008
• Maintenance fees $3,810/month

February’s Third Most Expensive Miami Beach Condo Sale

One Thousand Venetian – 1000 Venetian Wy #801/03 – Miami Beach, FL 33139

Listed for $1,699,000 and sold for $1,500,000 on 2/12/2010

This condo unit had been listed since November of 08 starting at $3,950,00 and also showing for rent at a monthly rate of $14,900.  One Venetian happens to be one of those Miami Beach condos that people love because of the views – yes it’s an older building, but location is convenient (minutes from Downtown Miami and South Beach) and views, views and more views!  MLS says (in caps also – I guess they had to scream to see this baby):

THIS HIDDEN PEARL ON AN ENTIRE PRIVATE FLR BACKS TO AN AMAZING WATERFRONT OFFERING SERENE PRIVACY & VIEWS. THE STUNNING HOME’S 3,840 SQ.FT. 5BD/4.5BA. TWO APARTMENTS W/4 COVERED PARKING SPACES PROVIDE THE PERFECT SETTING FOR MIAMI LIVING. 1,680 SQ.FT. OF TERRACES IS DESIGNED FOR OUTDOOR ENTERTANING W/DIRECT WATER VIEWS,DOWNTOWN MIAMI,& NORTH TO BISCAYNE BLVD. YOU’LL APPERCIATE THR LRG OPEN FAMILY RM-FORMAL DINING AREA. EAT-IN KITCHEN & APPOINTED GRAND MASTER STE. NESTLED BETWEEN MIAMI BEACH & DOWNTOWN MIA

Features:

• 3,840 square feet of living space
• 1,680 square foot terrace
• 5 bedrooms / 4.5 bathrooms
• 2 parking spaces
• bayfront condo
• marble and tile floors
• Maintenance fees $2586 per month

**all information obtained from the SouthEast Florida Multiple Listing Service**

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There were 16 Miami Beach Homes sold in February ranging in price between $191,300 for a bank owned Normandy Island home to $7,250,000 for a Star Island fixer upper.  Talk about a huge disparity and what makes Miami so interesting to many.  We can’t deny that there’s something for everyone here!  With no further delay, here are the 3 Most Expensive Miami Beach Home sales last month.

February’s Most Expensive Miami Beach Home Sale

44 Star Island Drive – Miami Beach, FL 33139

Listed for $8,750,000 and sold for $7,250,000 on February 25th, 2010

Funny enough, this same house was our featured luxury listing for January: Miami Beach Luxury Home – Star Island

Here’s what I had to say:

The house itself is only 4,720 square feet, which is tiny compared to its neighboring estates.  It was built in 1935 and to many it will be the “ugly duckling” of the island.  But I urge to look past the obvious and notice that the existing structure does have a nice Florida Vernacular feel to it and nothing a little money and love can’t fix.  It’s listed at $1,854 per square foot but I know that’s not a fair assessment since it’s all about the size of the lot.  Well….Shaq’s lot was 87,120 square feet with 312 feet of frontage and the house was impeccable and needed no “updating” (other than changes here and there for tastes sake).  So, my guess is that neighbors are pretty angry right about now because the only comp is throwing all the numbers off.  Just based on the one sale, this property is grossly overpriced.

Here’s the MLS description:

Located on exclusive Star Island among some of Miami’s favorite celebrities, this bayfront estate offers over 200 feet of prime water frontage and provides beautiful sunrises, southeastern breezes and the utmost in security and privacy.  Just minutes from both Downtown Miami and South Beach, this Colonial-style 4,720 home is ready for your update or build to suit.  Ideal waterfront for large vessel.  Least expensive property on Star Island!!

Features:

• 4,720 square feet of living space
• Built in 1935
• 6 bedrooms / 5 bathrooms / 1 half bath
• 215 feet of water frontage
• 48,266 square foot lot
• Barrel tile roof
• 2-story home

February’s Second Most Expensive Miami Beach Home Sale

269 N. Hibiscus Drive, Miami Beach, FL  33139

Listed for $5,995,000 and sold for $5,400,000 on February 24th, 2010

New Hisbiscus Island construction (built in 2007) with an interesting listing history.  The home was originally listed in April 2007 for $10,900,000 and was on and off the market with several price reductions and increases and finally selling for $5.4 M last month.  The MLS description reads:

New-elegant Mediterranean-waterfront estate on guard gated Hibiscus Island. This luxury 3-story home comes equipped with dramatic volume ceilings, oversized impact windows/doors, multiple private balconies and boat dock which can accommodate large vessel.  Resort style swimming pool w/jacuzzi, elevator, top-of-the-line appliances, marble/wood flooring throughout. 40 X 30 roof top terrace with spectacular views of Biscayne Bay, the Downtown Miami Skyline and Port of Miami.  Never been lived in.  New home.

Features:

• New construction – built in 2007
• 8,096 square feet of living space
• 12,250 square foot lot with 70 feet of water frontage
• bayfront
• 2-story home
• 6 bedrooms / 7.5 bathrooms
• pool with jacuzzi
• elevator
• within guard-gated Hibiscus Island

February’s Third Most Expensive Miami Beach Home Sale

5760 North Bay Road, Miami Beach, FL 33140

Listed for $5,950,000 and sold for $4,500,000 on February 22, 2010

This home was listed for $7,495,000  in September 09, reduced to $5,950,000 in December and was under contract by January 7th 2010.  North Bay road boasts with the most beautiful, unobstructed views of Biscayne Bay, and this house is the perfect example of that.  Older home, built in 1963, without being pretentious, except for the view.  Shows location is still worth a pretty penny in Miami Beach.  The MLS description reads:

Endless views on this gated Mediterranean Estate on prestigious upper North Bay Rd, on a very large lot (26,830 SF) wide Biscayne Bay front lot with a large concrete dock for a substantial boat, elegant open floor – turnkey estate! Gorgeous pool, large master bedroom with sitting area and the best views on N Bay Rd. Circular driveway and lush landscaping Miami Beach Waterfront Dream!

Features:

• Built in 1963
• 6,752 square feet of living space
• 26,830 square foot lot with 92 feet of water frontage
• 3 bedrooms / 4 bathrooms
• 2-car garage
• pool

**all information obtained from the SouthEast Florida Multiple Listing Service**

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