Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • Total Miami Home Sales Jump Double Digits in August 2018

    Sep 20, 2018
    Total Miami-Dade County home sales surged 13.3 percent year-over-year in August with single-family homes and condominium markets posting double-digit gains as total luxury sales, median prices and dollar volume increased, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Colombia Continues to be Top Country Searching for Miami Homes

    Sep 17, 2018
    Colombian consumers registered the most international web searches for Miami homes in June, according to a new report by the MIAMI Association of Realtors (MIAMI). Colombia registered 12 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in June 2018. Colombia has led the rankings for seven consecutive months.
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  • MIAMI Realtors Showcase South Florida Real Estate at Brazilian Convention

    Sep 14, 2018
    The MIAMI Association of REALTORS® (MIAMI) promoted South Florida real estate at one of Brazil’s largest real estate events, the Secovi-SP Convention, on Aug. 26-28 in São Paulo. Secovi-SP, Latin America’s largest trade union, was MIAMI’s first of 178 foreign partner associations worldwide.
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  • JTHS-MIAMI Realtors Raises Money for Palm Beach’s Center for Child Counseling

    Sep 13, 2018
    The Young Professionals Network of the Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) donated about $7,560 to the Center for Child Counseling in Palm Beach Gardens from proceeds raised from their annual Battle of Bartenders event.
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  • South Florida Office Dollar Volume Surges in 2Q 2018

    Sep 04, 2018
    South Florida office dollar volume rose to its highest value in the past three quarters, according to the new 2Q 2018 The Quarterly Report – South Florida Commercial Real Estate released by data firm Vizzda (Visual Data) and the MIAMI Association of Realtors Commercial (MIAMI Commercial).
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  • Miami Existing Condo Sales Continue Upward Trend in July

    Aug 22, 2018
    Miami-Dade County existing condominium sales increased year-over-year for the fifth time in the last seven months as median prices rose for all properties in July 2018, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Realtors to Exhibit at Colombia’s Largest Real Estate Expo

    Aug 09, 2018
    The MIAMI Association of REALTORS® (MIAMI) will again promote South Florida’s lifestyle and real estate market at Colombia’s largest property showcase, El XII Gran Salón Inmobiliario – Feria Internacional, starting today through Sunday, Aug. 12 in Bogotá, Colombia. MIAMI will make a South Florida market presentation at the 13th annual expo, which is expected to attract 30,000 visitors and 200 exhibitors.
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  • Miami Condominium Sales Rise in 2Q 2018

    Aug 08, 2018
    Miami-Dade County existing condominium sales surged 5.6 percent in 2Q 2018 as median prices for all properties rose for the 26th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • JTHS-MIAMI Realtors Collect School Supplies for Boys & Girls Clubs of Palm Beach County

    Aug 06, 2018
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) collected $800 worth of school supplies for Boys & Girls Clubs of Palm Beach County children during its annual school supply drive.
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  • Colombia Continues to be Top Country Searching for Miami Homes

    Jul 24, 2018
    Colombian consumers registered the most international web searches for Miami homes in April, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia registered 12.2 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in April 2018. Colombia has led the rankings for five consecutive months.
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  • Luxury Sales Continue to Rise while Limited Supply in Lower Price Points Results in Fewer Sales, Increased Prices

    Jul 23, 2018
    Miami-Dade County luxury real estate sales continue to increase while lower price points experience strong demand and limited supply, resulting in price increases countywide, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Colombia Continues to be Top Country Searching for Miami Homes

    Jul 09, 2018
    Colombian consumers registered the most international web searches for Miami homes in March, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia registered 11.9 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in March 2018. Colombia has led the rankings for four consecutive months.
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  • South Florida Multifamily Transactions, Prices Rise in 1Q

    Jun 26, 2018
    South Florida multifamily real estate transactions jumped 8.5 percent year-over-year in 1Q 2018 and per-unit multifamily prices increased in Miami-Dade, Broward and Palm Beach counties, according to the new 1Q 2018 The Quarterly Report – South Florida Commercial Real Estate
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  • JTHS-MIAMI Realtors Collect 364 Pounds of Food for Needy Palm Beach Residents

    Jun 25, 2018
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) collected 364 pounds of non-perishable food for the Palm Beach County Food Bank in April as part of its annual JTHS-MIAMI’s “Move for Hunger” Food Drive.
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  • Colombia Leads Countries Looking for Miami Homes in February

    Jun 25, 2018
    Colombian consumers registered the most international web searches for Miami homes in February, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida remains the most-searched U.S. market by international consumers and a top-five market for homebuyers in the world’s six largest regions, according to February data.
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  • Miami Luxury Home Sales Jump in May 2018

    Jun 20, 2018
    Total Miami luxury home sales rose 24.1 percent year-over-year in May as existing condominium sales rose for the second consecutive month, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Realtors Join Chapman Partnership to Feed Homeless

    Jun 18, 2018
    Continuing its changing communities initiative, MIAMI Association of Realtors (MIAMI) members and peers again fed dinner to 500 homeless residents on June 14 at the Chapman Partnership’s Downtown Miami Homeless Assistance Center.
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  • Miami Existing Condo Sales Jump 24.6 Percent in April

    May 24, 2018
    Miami’s existing condominium market posted its best April in three years as condo transactions jumped 24.6 percent and condo dollar volume surged 40.8 percent year-over-year, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system. Miami single-family home sales and residential prices rose.
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  • MIAMI REALTORS® Launches MIAMI Platinum PLUS for its Members

    May 17, 2018
    The MIAMI Association of REALTORS® (MIAMI) is now offering its members subscriptions to MIAMI Platinum PLUS, an exclusive and unparalleled suite of upgraded Realtor products and services, so Realtors can utilize an even higher level of industry tools to improve and expand their business while enhancing the home buying and home selling process for the public.
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  • Miami Luxury Home Sales Soar in 1Q 2018

    May 15, 2018
    Total Miami luxury home sales surged 12.3 percent in 1Q 2018 as median prices rose for the 25th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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New Technology Transforming Commercial Real Estate CRE Experts Analyzed Self-Driving Cars & More at RCA MIAMI event

by | May 24, 2017
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Imagine riding in a self-driving car, being dropped off at work and then having your car drive itself to a parking lot across town. The scenario, which experts say is closer than we think, would have a major impact on real estate as it reduces the need for today’s parking garages and surface lots.

The structures, which often sit in prime real estate locations, can now be reimagined in new ways (housing, retail, commercial and healthcare).

The MIAMI Association of REALTORS® (MIAMI) Realtors Commercial Alliance (RCA MIAMI) analyzed the impact of self-driving cars, the rise of e-commerce, the growth of industrial real estate, a proposal for the largest proposed mall in the United States and other topics at its fifth annual RCA MIAMI Midyear Update held recently at the Coral Gables Country Club.

“The way we did business 30 years ago or 20 years ago or even 5 years ago is changing,” said panelist Jose I. Juncadella, an office and industrial Miami broker and the principal of Fairchild Partners. “It’s important for all (brokers) to understand that we have to move on because technology is improving.”

New Technology Disrupting Real Estate
Real estate is one of three industries ripe for technology disruption, according to RCA MIAMI keynote speaker Geoffrey Kasselman, the executive managing director at the Chicago office of Newmark Grubb Knight Frank. New technology, automation and digitization will also impact banking and healthcare.

The rise of self-driving cars will not only make many of today’s parking lots extinct, but it will make passengers more productive.

Passengers in driverless cars can travel hands-free and stay connected, increasing personal productivity and the amount of time that commuters are willing to spend in the car. Rural or suburban areas could become popular as passengers adapt to long commutes. As populations in both suburban and rural areas continue to grow, real estate developers could adapt to the new demographic and recreate suburban communities with an urban feel.

There are other ways technology could change real estate, Kasselman said.

Office buildings, for instance, are grossly inefficient. The average 9-to-5 office building is unoccupied for 16 hours each day. Could office buildings become flexible mixed-use properties in the future and have another use after the daily workers leave?

Air rights could be the next litigious battle as drones or vertical taxis become mainstream, Kasselman said. What are the rules when an unnamed flying drone flies through another homeowner’s backyard? How will government regulate the flight patterns of vertical taxis?

Growth of E-Commerce
E-commerce is another disrupter. E-commerce comprises just 8.1 percent of U.S. retail sales, but the industry is growing fast. U.S. e-commerce sales in 2016 totaled $394.9 billion, a 15 percent increase from 2015.

Amazon.com is the big leader, posting increased net sales of 27 percent to $136 billion in 2016 with a $2.4 billion net profit compared with a $596 million profit in 2015.

The rise of e-commerce has led some to believe it will bring the death of brick and mortar shopping malls. Malls, such as the proposed American Dream Miami mall, argue physical stores continue to be the core of the shopping experience.

Today’s malls are focusing more on entertainment, dining and creating an experience for mall goers. Many times, the consumer is researching a purchase online and then buying it in store.

American Dream Miami
If approved, American Dream Miami would be the largest theme park and mall in North America. The proposed complex in northwest Miami-Dade County which would house an indoor ski slope, water park, movie complex and more.

American Dream Miami would total 6.2 million square feet, including 3.5 million square feet of retail, plus 2,000 hotel rooms. American Dream Miami estimates it would receive 40 million projected visitors and create 14,500 permanent jobs.

“It’s an opportunity for the commercial world to interact with consumable world directly,” said Robert Gorlow, who is managing American Dream Miami for Triple Five Group. “That’s the way we look at it. We don’t look at it as retail versus e-commerce. When you build projects like this, if they are to be financially viable you need to survive all this change.”

Industrial Real Estate on Fire as an Asset Class
Amazon’s growth has helped fuel the rapid expansion of industrial real estate. Absorption for industrial real estate hit a new record last year.

Amazon will soon have 1.4 million square feet of space in the Miami area, Juncadella said. About 20 to 30 percent of all industrial absorption around the world was by Amazon.com, Kasselman said.

Population growth has propped up all real estate sectors but has favored the industrial sector specifically. The booming tourism industry has also helped fill the region's warehouses. Nearly 60 percent of the goods sitting in local warehouses end up in South Florida.

Miami as a Worldwide Brand
Among all this change heading to commercial real estate, Miami is also evolving.

Once just a tourist location, Miami has become a center for business, technology, art, fashion culture and more.

“Miami is one of the most recognizable brands in the world,” said F. Antonio (Tony) Puente of Fairchild Partners. “People want to be associated with Miami. Just the name itself. You say the word ‘Miami’ and a lot of cities around the world from South America to Asia know where it is.”

Like other major global cities, Miami is already implementing and utilizing new technology.
Kasselman’s presentation showcased waves of transformative disruption in the future. Big data, automation and package-delivering drones will be in the first wave (next three to five years). 24/7 learning via artificial intelligence, 3D printing for everything and abundant low-cost energy in the second wave (next five to 15 years)

“We won't experience 100 years of progress in the 21st century - it will be more like 20,000 years of progress (at today's rate),” world-renowned futurist Ray Kurzweil said.

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