Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • 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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  • MIAMI REALTORS CEO Named to South Florida’s Most Influential Business Women

    May 14, 2018
    MIAMI Association of REALTORS® (MIAMI) Chief Executive Officer Teresa King Kinney was named one of the top 25 Most Influential Business Women in South Florida. The South Florida Business Journal honored Kinney’s strong record of leadership, community involvement and industry innovation at an event on May 11 in Fort Lauderdale.
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  • Miami Luxury Single-Family Home Sales Jump in March

    Apr 23, 2018
    Miami luxury single-family home sales posted double-digit gains as median prices for all properties continued rising in March, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • South Florida Industrial Real Estate Prices, Transactions Rise in 4Q

    Apr 23, 2018
    South Florida industrial real estate prices increased 11.4 percent year-over-year in the 4Q 2017 and the Miami-Dade, Broward and Palm Beach tri-county region posted its second highest industrial transaction volume for the year,
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  • Patricia Anglero Elected 2018 Broward President of the MIAMI Realtors

    Apr 07, 2018
    The MIAMI Association of REALTORS® (MIAMI) has elected Fort Lauderdale broker Patricia C. Anglero as its 2018 Broward Council president. She and all of MIAMI’s leadership boards were installed Feb. 2 at the MIAMI 2018 Inaugural and Awards Celebration.
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  • MIAMI REALTORS Commercial Partners with Research and Data Firm Vizzda to Provide South Florida Commercial Statistics Reports

    Apr 05, 2018
    MIAMI Association of Realtors Commercial (MIAMI Commercial) has formed a strategic alliance with Vizzda (Visual Data) to provide The Quarterly Report – South Florida Commercial Real Estate, which will offer comprehensive commercial research and statistics to MIAMI’s 46,000 members and the consumers they serve.
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  • MIAMI Realtors Commercial Association Rebrands as MIAMI Commercial

    Apr 05, 2018
    The MIAMI Association of REALTORS® (MIAMI) has rebranded its commercial real estate organization, to MIAMI Commercial. MIAMI Commercial’s new name and logo is part of MIAMI’s successful expansion of the commercial reach of the Miami Association of Realtors that enhances the 25-year-old organization, which was formerly the Realtors Commercial Alliance MIAMI (RCA MIAMI).
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  • Miami Condo, Luxury Home Sales Rise in February  

    Mar 21, 2018
    Miami existing condominium and total luxury home sales increased in February, 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 Expands Presence of South Florida Real Estate at Global Expo

    Mar 14, 2018
    The MIAMI Association of REALTORS® (MIAMI) has increased its presence by 400 percent at the world’s largest commercial real estate conference, MIPIM. MIAMI Realtors will have exhibits promoting South Florida at MIPIM from March 13-16 in Cannes, France as part of the National Association of REALTORS® (NAR) expanded U.S. pavilion. This year, MIAMI has significantly expanded the U.S. and MIAMI/South Florida presence by adding its own adjacent exhibit space.
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  • Colombia Leads Countries Looking for Miami Homes in January

    Mar 13, 2018
    Colombian consumers registered the most international web searches for Miami homes in January, 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 January data.
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  • Urgent Legal Alert from Florida REALTORS General Counsel

    Mar 06, 2018
    Recently, Florida Realtors became aware of several lawsuits filed against real estate brokers in Miami Dade and Broward counties concerning allegations of discriminatory advertising—a violation of fair housing laws. Specifically, brokers are being sued for discriminating against tenants with Section 8 vouchers. These violations, however, pertain to local ordinances, not the Federal Fair Housing Act. Under these local ordinances, landlords and Realtors are precluded from discriminating against tenants with Section 8 vouchers, as this falls under the protected class "source of income."
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  • Miami Condo, Single-Family Home Sales Jump in January

    Feb 22, 2018
    Miami existing condominium and single-family home sales rose in January as $1 million-and-up luxury transactions jumped for all properties, 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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