Most industry professionals have a handle on their market demographics, but what happens when your market consists of multiple conditions and diverse populations? Read on as Abraham Chehebar, President of Weichert, REALTORS® in Best Beach Real Estate, Miami, Fla. talks about working with diverse market conditions, connecting with past clients, and more.
Region served: Southeast Florida
Years in real estate: 15
Average time on market: 45 days
Average sales price: $400,000
Please describe the current market conditions in your area.
The Tri-County area consists of a very diverse mix of populations, so we have different market conditions throughout each of the areas we serve. For example, the market served by our Boca Raton office is still a buyer’s market, whereas the areas we serve in Weston, Ft. Lauderdale and Pembroke Pines have very tight inventories where listings are hard to find and demand is high, making them seller’s markets. When it comes to Sunny Isles, Miami Beach and Midtown Miami, we’re experiencing a very different market condition altogether. In these markets, high-end pre-construction sales of large condominium projects are very strong among second-home and investor buyers from all around the world. All of these market conditions combined, coupled with a strong, positive and clear culture where building happiness through extraordinary service is our central mission, has allowed our company to experience tremendous growth during the last few years, with 42 percent growth in 2013.
What is your favorite way to keep in touch with past clients?
Delivering the “Weichert Difference”—a noticeably higher level of service that makes a customer’s real estate experience as easy and stress-free as possible—permeates everything we do, so we’re all about going the extra mile when it comes to our clients. First and foremost, we believe in personalization, so a handwritten note after closing, sometimes accompanied by a box of cookies, is our first step. Next, we believe in calling past clients two or three times a year to see how they are doing and if they need something. If a face-to-face meeting is possible, we encourage our associates to pursue that. Apart from that, we also use traditional direct mailings and email marketing.
What is your go-to tech tool?
Any good, customer-relationship management system. For example, we offer our associates a customer-relationship management software that allows them to always be on top of their game so they can live by our mission of building happiness through extraordinary service. As part of the Weichert organization, we are fortunate to have access to many award-winning tools and services.
When it comes to today’s buyers, what are some of the most difficult challenges they face?
In most of our markets, the most difficult challenge buyers face is getting financing and finding property due to tight inventory.
As far as agents, what challenges are they confronted with today?
Finding financing for buyers is one of the most difficult challenges that our associates face, hence the importance of one-stop shops. Tight inventory is another big challenge facing our agents today, highlighting the importance of how-to list trainings and techniques.
What is the best piece of business advice you have ever received?
Never stop learning!
For more information, visit http://www.weichert.com.