What’s the recipe for real estate success? According to Ron Shuffield, President of EWM Realty International in Miami, Fla., the answer is market knowledge, energy and integrity. Read on for more of Shuffield’s industry insight.
EWM Realty International, a member of Leading Real Estate Companies of the World® and Luxury Portfolio International®
Region served: Miami and Fort Lauderdale, South Florida
Years in real estate: 40
Average time on market: 94 days
Average sales price: $704,000
Top tip for real estate newbies: Watch the experienced EWM associates around you; a lot can be gleaned.
What are the current market conditions in your area, and how have your agents adapted to meet them?
Our market has been adjusting, especially in the high-end. Inventory of single-family homes exceeding $1 million has increased 46 percent year-over-year, while sales have fallen 11 percent during Q1 2016 compared with the same period in 2015. For condos priced over $1 million, we’ve had a 55 percent increase in inventory for the same period, with sales falling 24 percent during Q1 2016. We’re now seeing a re-balancing of our market values, which is a healthy thing after six great years of great appreciation. EWM sells more million-dollar properties in our market than any of our competitors, and keeping sellers educated is a testament to that. Our associates have adapted in many ways by making sure that our sellers and buyers are knowledgeable when it comes to pricing and market conditions.
How does your company keep today’s buyers educated?
We place a lot of graphs, data and videos within our magazines, other periodicals and online applications, all addressing inventory, value fluctuations and market conditions. This gives our buyers and sellers a good perspective as to where the market is today. Our associates maintain information that buyers and sellers need in order to make an educated decision.
What is the most unique way you have landed a listing?
My involvement in the local community has introduced me to many future customers. If you’re in enough places enough times, sooner or later you’ll be in the right place at the right time. Whether it’s running into someone you haven’t seen in a while or sitting at your son’s baseball game, if you’re not out there, these “coincidences” don’t happen.
In your opinion, what is the winning recipe for real estate success?
Market knowledge, energy and integrity. Our customers, as well as our fellow REALTORS® in the marketplace, know that we spend a lot of effort compiling accurate market data and that we work hard to maintain our energy and enthusiasm to market and promote their properties. But, most importantly, all parties to each of our transactions know they can trust us, and that the advice we’re giving them is the same advice we’d give to our own families. For over 52 years, our EWM associates have laid a reputation of quality, trust and honesty within our marketplace. We take pride in the people on our team and appreciate those team members who came before us. Recently, The Miami Herald surveyed 105 of our competitors, asking who they would use to sell their own home if they couldn’t use themselves. EWM was chosen as the No. 1 company. It was a very gratifying honor for our associates. We couldn’t ask for a testimony better than that.
For more information, visit www.ewm.com.