Every week, we ask a Miami real estate professional for their thoughts on the top three stories from the week before. This week, we spoke with Ashton Coleman, a broker associate with ONE Sotheby’s International Realty and the owner of MiamiDreamRealty.com.
Miami Agent (MA): Marketing luxury properties can be tricky, as the buyers aren’t your typical, everyday buyers. What do you do to make sure your listings are being seen by the right people?
Ashton Coleman (AC): This year’s marketing has been adjusted to the advantages of a strong name such as ONE Sotheby’s International Realty, which catapulted the earlier marketing plan I developed with MiamiDreamRealty.com. I now have a prime focus specific to the affluent buyer through various luxury websites such as WSJ.com, NYT.com, Bloomberg, JamesEdition, HongKong Tatler, The Telegraph and PropGoLuxury – just to name a few. This is only the beginning as print, SEO, social media, digital marketing and online domination deliver a skillful and multi-faceted marketing advantage when showcasing luxury properties. Built around state of the art strategies, technologies and tactics, our global media plan delivers impact, exclusivity and efficiency that consumers have come to expect leading into a successful sale. We are truly an international company with over 750 offices in 54 countries.
MA: Some experts suggest that Miami’s rising home prices are currently overvalued, which means that continual increases could further exacerbate the problem and hurt the overall market. Do you agree, why or why not?
AC: After 13 years in the business, I’ve experienced Miami’s real estate roller coaster first hand. Our current market is somewhat reminiscent of Miami just prior to the bust. However, measures have been taken to prevent this. Miami developers have worked to deter speculation by requiring 50 percent down (rather than 10-20 percent) and structuring developer contracts towards buyers actually willing to close with no assignment of contracts permitted. From the residential resale appreciation perspective, we note healthier levels ranging from 9 percent to 15 percent, rather than 30 percent or more from the past boom when banks would lend to anyone and mortgage fraud was rampant. The speculators are minimal and yet pertaining to the question, the residential resale and pre-construction markets are still strong with confidence and appreciation here in Miami, so I remain bullish on future values. We are considered a bargain by many in comparison with London, New York, Monaco and Hong Kong. Because of the location, lifestyle, warm weather and overall beauty, Miami will remain resilient.
MA: Other than for marketing purposes, how, if at all, do you incorporate technology into your business?
AC: Technology for marketing purposes aside, there are many excellent options to make work more efficient and streamlined when delivering fast sales plus stellar service. Docusign for contracts; Reesio for CRM and transaction management; Dropbox for document storage and sharing; Sidekick and Boomerang for emails; and then Google for just about everything else, such as my daily Calendar, maps/GPS – each playing a crucial role. Being an internet savvy agent, you must adapt and utilize technology to stay ahead of the curve. Let’s connect! @AshtonColeman
I hit 3 stars accidentally…meant to hit 5 stars!!!
Very interesting and knowledgeable article!
I’ve known Ashton my whole life and he’s the real deal! Great article. Congrats on your success!