Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • 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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  • Colombia Tops Countries Looking for Miami Homes

    Feb 20, 2018
    Colombian consumers posted the most web searches among foreign countries for Miami homes in December, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida finished as the most-searched U.S. market by international consumers and is a top-five market for consumers in the world’s six largest regions, according to December data.
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  • Miami Single-Family Homes Post Fifth Biggest Sales Year in History

    Feb 13, 2018
    Miami recorded the fifth-most annual single-family home sales in county history in 2017 as total dollar volume and median prices rose at year-end and in 4Q 2017, 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 Releases New 2017 South Florida International Real Estate Report

    Feb 08, 2018
    Foreign home buyers spent more on South Florida homes and purchased more local residential properties in 2017 than the year before, according to the new 2017 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (NAR).
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  • Jorge L. Guerra Jr. Elected 2018 MIAMI Realtors Residential President

    Feb 06, 2018
    The nation’s largest local Realtor association has elected Miami broker Jorge L. Guerra Jr. as its 2018 Residential President. He and the entire Board of Directors were installed Feb. 2 at the MIAMI Association of REALTORS® (MIAMI) 2018 Inaugural and Awards Celebration.
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  • MIAMI Realtors to Honor South Florida Real Estate Industry Leaders

    Feb 06, 2018
    he MIAMI Association of REALTORS® (MIAMI) will honor South Florida real estate’s industry leaders with its 2017 MIAMI Awards at its 2018 Inaugural & Awards Celebration today. “From educator of the year to humanitarian of the year to public policy advocates, the MIAMI Awards honors individuals and groups that made the real estate industry and all of South Florida a better place,” MIAMI CEO Teresa King Kinney said.
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  • Miami Native Brian Sharpe to Lead MIAMI Commercial Realtors

    Feb 06, 2018
    The Realtors Commercial Alliance of the MIAMI Association of REALTORS® (MIAMI) has elected Miami native Brian Sharpe as its 2018 president. He and the 2018 RCA Board of Governors were installed Feb. 2 at MIAMI’s 2018 Inaugural and Awards Celebration.
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  • MIAMI Realtors to Honor South Florida Real Estate Industry Leaders

    Feb 02, 2018
    The MIAMI Association of REALTORS® (MIAMI) will honor South Florida real estate’s industry leaders with its 2017 MIAMI Awards at its 2018 Inaugural & Awards Celebration today.
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  • George C. Jalil Elected to Lead Nation’s Largest Local Realtor Association

    Feb 01, 2018
    The MIAMI Association of REALTORS® (MIAMI) has elected Miami Broker George C. Jalil, RAA, TRC as its 2018 chairman of the board. He and the 2018 MIAMI leadership boards will be installed Feb. 2 at MIAMI’s 2018 Inaugural and Awards Celebration.
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  • Luxury Miami Home Sales Surge in December

    Jan 24, 2018
    Luxury Miami home sales posted double-digit gains and existing condominium transactions surged year-over-year in December, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system. Luxury ($1 million-and-above) existing Miami condo sales jumped 47.6 percent year-over-year, from 42 to 62. Luxury Miami single-family home sales rose 16.7 percent, from 60 to 70. Existing Miami condo sales increased 6.5 percent year-over-year in December, while single-family transactions stayed effectively even (down 0.7 percent).
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  • MIAMI Realtors Partners to Create Miami Shores’ New Community Destination

    Jan 12, 2018
    The MIAMI Association of REALTORS® (MIAMI) is partnering with several entities to host Party in the Plaza from 5-9 p.m. Saturday, Jan. 13 to celebrate Miami Shores' new pedestrian-friendly space, Plaza 98, at 9802 NE 2nd Ave. MIAMI, sponsors and volunteers recently painted 10 multi-colored, intersecting pineapples on Plaza 98's asphalt to create a new Downtown Miami Shores destination for community gatherings. All ages are welcome for Saturday’s free event
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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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