During Inman On Tour Miami, luxury agents from Palm Beach, Miami, and 30A discussed how their markets are evolving beyond second-home destinations and emphasized the importance of collaboration for success.
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Since the onset of the COVID-19 pandemic, Florida has seen an influx of second-home buyers and affluent clients seeking a more relaxed lifestyle.
Many of these individuals who initially came for a vacation discovered a place where they could envision themselves living permanently, drawn not only by tax benefits but also by the overall lifestyle.
Top agents representing Miami, Palm Beach, and 30A shared similar stories of clients transitioning from temporary getaways to long-term residencies in their respective regions during the Inman On Tour Miami event.
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“Miami has evolved from being just a vacation spot to a dynamic city with a growing presence of tech and finance companies,” noted Jill Hertzberg of the Jills Zeder Group at Coldwell Banker. “People are not just visiting, they are relocating here—it’s no longer just a vacation destination.”
Jill’s son, Danny, who is also part of the real estate team, highlighted how individuals moving to Miami for work opportunities brought their businesses along, transforming the city into a major tech and finance hub.
“The growth has been remarkable,” Danny Hertzberg remarked. “From a beach destination to a primary residence and now a thriving tech and finance center driving the local economy, the future looks promising for Miami.”
Holly Meyer Lucas, operating in Jupiter and Palm Beach with the Meyer Lucas Real Estate Team, discussed the influx of wealth and population migration to the area, presenting ample opportunities for agents as billionaires and their staff relocate to Palm Beach.
“We are witnessing a significant mass migration of wealth and population in American history,” Lucas stated.
She also emphasized the importance of agents involving themselves in local decision-making processes to advocate for development in these growing areas, ensuring better service for clients through increased inventory.
Hilary Farnum-Fasth of Corcoran Reverie, focusing on the planned communities in 30A, shared how heightened interest during the pandemic led to explosive growth in the market.
“The surge we experienced was incredible, as the area was undervalued and undiscovered by many,” Farnum-Fasth said.
As more individuals seek residences in Miami, Jill Hertzberg noted the reluctance of clients who moved to the area in 2020 to sell their properties, underscoring the appeal of staying in the region.
Successful agents in these competitive markets are deeply connected to their communities, understanding local amenities, schools, and services, according to panelists at Inman On Tour Miami.
“Being well-informed about the local landscape and zoning regulations, and serving as a resource for clients relocating to our markets, is crucial,” Danny Hertzberg affirmed. “By connecting the dots and providing the right referrals, agents can offer valuable assistance to their clients.”
Moreover, fostering strong relationships with other agents is essential for completing successful transactions, as highlighted by Lucas, who emphasized the importance of collaboration over competition.
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For more information, contact Lillian Dickerson via email.