Real estate professionals can all agree that consistency is the key to creating brand and name recognition in your marketplace. An in today’s challenging market, real estate professionals must do everything they can to make sure they stay top of mind. Here, Jeff Morr, CEO/broker, Majestic Properties in Miami, Florida discusses how his company works to achieve a consistent reputation.
Region served: Southeast Florida
Years in real estate: 26
Number of offices: 4
Number of agents: 200+
Average time on market: 30-60 days
Average sales price: $600,000
Best tip for a successful meeting: Keep it interesting.
Key to staying profitable: Keep your overhead low.
Can you describe the current market conditions in your area?
Miami was one of the first markets to fall, and it was also one of the first to rise. 2010 was a good year for us as we saw many areas and buildings that have seen appreciation. Miami is different from many markets in the U.S. as we are a predominately European and Latin American market. Today, 80% of our market is cash, and our clientele from outside the U.S. has the cash to buy properties, and that has provided us with a buffer.
How do you communicate and keep in contact with your past and present clients?
Each of our agents has their own database, which helps them stay in touch with all of their clients. While every agent works differently when it comes to communicating with past and present clients, we encourage our agents to stay in touch with their database on a personal level through e-mail.
How do you incorporate local print advertising into your marketing strategy?
Print marketing is an active sector in Miami, so it is a big part of our marketing strategy. While we have cut a lot of our marketing from local newspapers, we have taken advantage of The Real Estate Book to get our listings seen. The Real Estate Book is everywhere, and its size makes it easy to carry so that prospective buyers can view our listings no matter where they are. The Real Estate Book has enabled us to create a consistent message while promoting our brand; we are looking at growing our exposure within the magazine in the near future.
What makes your company unique in today’s market?
What makes us unique is that we are a very hands-on company and we take pride in giving our agents the tools they need to help them make money and produce more.