A Day with Margit Brandt of Premier Estate Properties
As a leading luxury real estate broker, what do you love about this industry?
What I love most about the industry is really the ability to help people. Across many different job functions and professional “purposes” in this world, to me there is nothing more gratifying, exciting, and rewarding than helping people find their dream home and helping guide them to that foundation in their lives. With so much uncertainty and change, people are finding increased “shelter from the storm” and oasis in their homes, and my belief is that there has never been a better time in history to be in the real estate brokerage industry.
Your current thoughts on the South Florida real estate market over the next few months?
Clearly, it goes without saying that some of the macroeconomic and global headwinds are slowing down growth, increasing buyer’s appetite to be more aggressive on offers, and having some sellers second guessing their home’s pricing to make it more realistic for the market. Palm Beach Island is somewhat unique in that it’s most often cash buyers in our transactions. What is driving growth in South Florida is a strong flow of net migration into the area from folks who are now working remote, who may be re-evaluating their lifestyles, or who may have been unsatisfied with the cost-benefit analysis in other states when it comes to the quality of life they are getting vs. the tax rates being paid. The quality of life in South Florida has been noticeably on the rise over the past few years, and this combined with our favorable tax climate and 9+ months of the year with desirable weather, has transformed what were once vacation resorts into full-time communities hosting high-quality schools, Class A office space, state-of-the-art medicine and top-of-the-line First Response. I have also heard a lot of feedback from clients that they love South Florida’s proximity to Miami, The Keys, and the Bahamas – all world class global destinations.
What are the top reasons to invest in South Florida real estate?
Supply and demand fundamentals and getting in early over a long-term horizon.
What kind of clients could benefit from your services?
Most of our clients are either monetizing their properties in the Palm Beach area or relocating here to open up offices and enroll their kids in school. Some of our clients are also retired adults and empty nesters looking for that perfect winter getaway, without having to leave the country. I myself am from New York City originally, having moved to Palm Beach with my family about 6 years ago, so I’m well suited to help people with the adjustment and not just land the right buy or sell price, but also be a full-service concierge to buyers when it comes to locating valuable local resources to those looking to migrate many of their experiences and services to the area. We also are a desirable one-stop-shop for any families considering both Palm Beach Island and coastal West Palm Beach (SoSo, El Cid, Northwood), because our portfolio of activity consistently features deal flow on both sides of the bridge.
How has the needs and desires of home buyers changed over the past two years?
Due to the work from home trend, people really want larger homes with private offices and substantial yard space for their pool. People also want to “live outside”, so covered (roof) al fresco dining and entertainment is a must.
What are some big market trends you are currently seeing in South Florida?
Luxury markets all over the country – Hamptons, Nantucket, Aspen, and Palm Beach, have all benefited from a fundamental shift in perspective around how people with substantial assets want to live their lives and spend their time. This kind of movement and open-mindedness has totally changed the real estate market for ultra-luxury locations, and South Florida is seeing a large influx of residents without even a slight exodus of residents – which creates the uniquely strong fundamentals which we’ve enjoyed for the past two years.
Is this a good time to sell a home?
Summer is a great time to figure out if you want to sell and prepare the appropriate listing agreement and marketing strategy with your broker so that you can launch in the Fall/Winter something that is very appealing to the market.
What are the top 3 requests from luxury home buyers when looking for a new home in your area?
Five plus bedrooms, large pool, office, beach and bike path access.
Margit Brandt, Luxury Estate Advisor