By Elizabeth Ostler
RISMEDIA, Nov. 21, 2007-Having been in the real estate industry for about six years, Chad Roffers, president of SKY Sotheby’s International Realty, has realized it is not necessary or realistic to be all things to all people. Instead, his secret is to focus-on the luxury market. Here, meet Roffers and learn what’s working in his market.
SKY Sotheby’s International Realty
Years in real estate: 6 Originally from: Minneapolis, Minnesota Career path: Roffers started out as a top-producing agent at Michael Saunders & Co., before joining his partner, Brandyn Herbold, in 2004 to form SKY Sotheby’s International Realty. Number of offices: four in Sarasota, Florida; two in Twin Cities, Minnesota Number of agents: 41 teams (Sarasota), 40 (Twin Cities) Average listing price: $1,575,000 Thoughts on expanding: “We think the current market conditions present an excellent opportunity to grow and are actively seeking quality agents to help us address the needs of sellers and buyers.” Spare time pursuits: Boating, traveling and spending time with family.
With the market changes and the larger inventory, how is the Florida market doing?
Despite all of the gloom and doom in the media and among some of our fellow Realtors, we are having a great year and I am seeing the marketplace stabilize. In Sarasota County, single-family and condo inventory in the luxury bracket-defined as $1 million and up-has stabilized at 1,279 units with a steady absorption rate of approximately 50 units per month. While it will take time to work through the inventory and return to balance, the writing is on the wall that now is a great time to step in and take advantage of the options available. There is tremendous opportunity for savvy buyers looking for the right opportunity, not to mention tremendous investment potential for investors with a strong cash position and the belief that real estate in Florida is a great investment over the long haul.
What has been the key to your success in the luxury market?
We have a specific and disciplined approach. We don’t try to be all things to all people. We focus on the luxury market; that’s what we do best. Rather than take an ad hoc approach, we have a defined process and strategy for every client. As a result of some of the processes and systems we’ve put into place, we have grown our share of the million-dollar-and-up market from zero to 22% in less than four years.
Some brokers have unique approaches to marketing and/or selling their homes. What are some of the more creative things you have done to sell a home?
We believe that a properly priced home with the proper local, national and international exposure will sell when listed by a skilled professional. We are less into gimmicks and more about facts and information.
This market has certainly been more challenging in the past year than it has been for some time. What do you tell team members to help boost morale and/or help them excel in the market?
Our agents are full-time professionals who did not get into the business to make a quick buck. While the current market requires more effort and mental toughness than ever before, as a leader, I am prepared to invest in our agents and clients for as long as it takes to get results.
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