Miami Beach Real Estate Blog

According to a recent study released by the National Association of Realtors, approximately 25% of all international purchases in the United States are occurring in the state of Florida, which represents a significant target market for anyone interested in selling in today’s buyers market environment.  Especially in the Miami Beach area (particularly in South Beach), which is a top tourist destination for Europeans and South Americans, this represents a great target market for today’s sellers.  We have a multi-platform and mixed media international marketing programs focused on targeting these foreign buyers.  I also have been attending real estate trade expos and have built an extensive brokerage & sales network covering major European & South American markets.

I’m also personally working with average of two new foreign buyers every week, with the ALL of them looking to take advantage of the still advantageous Dollar to Euro Exchange rate.  However, it’s important to note that these are also savvy buyers and ALL are looking for a “deal”, looking to take advantage of the extensively reported South Florida housing slump.

One of the key sales strategies that I constantly emphasize to my team is the necessity of educating these foreign buyers, and setting realistic expectations for a “great deal”.  For example, purchasing at the Continuum South Beach for just under $1,000/S.F. today is a “great deal”, but in downtown Miami a buyer can get a “deal” for around $325-$350/S.F.   We just sold a spectacular direct oceanfront two bedroom condo in the South Tower of Canyon Ranch (#S1705) for $667/S.F. using the above referenced sales & marketing strategy.

My unofficial Top 10 Miami Beach foreign buyers for 2008:

1.    Canadians
2.    Mexicans
3.    British
4.    Germans
5.    Italians
6.    Russians
7.    Brazilians
8.    French
9.    Venezuelans
10.  Argentinians