Miami Real Estyle – Patricia Delinois, Miami’s Luxury Real Estate Messiah
With a long-standing list of accomplishments and her sultry, chocolate locks, real estate tycoon, Patricia Delinois, President & CEO of Century 21 Premier Elite Reality, makes sure to get what she wants – and visibly deserves. This Luxury Real Estate Messiah and NBCUniversal Style Network star, staked her claim to fame long before Andy Cohen and pernicious catfights. For the award winning broker, seamlessly globalizing the 305’s real-estate market, while helming 175 agents deemed a lucrative cakewalk to the philanthropic enthusiast. Although a fluent speaker in three languages – French, Spanish, and English – the property powerhouse fancies one language in particular – selling; she fills us in on her landholdings hypnosis that has foreign affairs and local buyers alike, buzzing.
MSM: Did the credit crisis of 2008 have a significant impact on your business and ability to sell homes?
In 2008 we had over 46,000 properties available for sale on the market. Clients were asking for rentals, rentals, rentals!! Prices kept dropping and real estate offices were closing. Banks were not lending, mortgage brokers were all closing their companies. It was a very sad, difficult time and a tough process to get anything sold!
MSM: What makes Century 21 Premier Elite Realty successful?
At the end of 2011 we noticed that sales were up 4 percent from 2005 which was the boom year. A shift was beginning. This shift we were experiencing was due to the foreign buyer. Miami was suddenly on everyone’s radar. The Wall Street Journal named us the “new global city” 62 percent of the buyers now buying in Miami are foreign buyers and 90 percent of those buyers are buying cash. What makes our company different is we are an international company. We focus on foreign clients from all over the world. 48 percent of the business done by Century 21 is outside of the US. We are the most recognized real estate brand in the world. We also are the only real estate company to have an inter-office MLS, providing access for all of our agents and clients to listings from all of our offices around the world through our global MLS website Century21global.com.
MSM: Describe your average client profile in the Miami market. Are they in the market to invest or to live in the property?
The average Miami buyer is either from one of the large northern cities like New York, Chicago, Boston and Washington DC or they come from other countries in Europe, Asia and South America. We currently have a lot of traffic from Brazil, Argentina, Venezuela, France, Columbia and a considerable number of buyers from Canada, Mexico, Russia and China. They want to invest in properties in Miami for security, safety, political, and financial reasons. Most foreign buyers feel more comfortable investing money in Miami than in their own country. They also see the incredible potential in appreciation as this city is transforming at an extremely rapid pace. Many buyers come to invest in America, but others purchase their properties as full or part time homes.
MSM: How is the Miami luxury real estate market rebounding since the 2008 housing crash and where do you project pricing trends to move over the next 2 years?
Wealthy buyers love the international feel that Miami provides along with sunny weather, gorgeous beaches, thriving nightlife, glamour, entertainment and global business opportunities. They find our per sq. ft. prices much lower than in their own cities and want to own a second or even third residence in Miami. The demand for luxury properties has been fueling the construction and price growth. Miami is a city that is being compared to cities like New York, LA or Paris but we really are still a very new young city with tremendous growth potential. We are quickly becoming a world class city, attracting global attention and boosting real estate price appreciation. We are looking forward to a very strong healthy real estate market in the next years to come.
MSM: Are you showing more condos or houses?
Both have a strong demand right now depending on the clients lifestyle.
MSM: What do you see as the hottest growing part of Miami right now?
We have had our third consecutive record sales year and two years of double digit price appreciation. Miami real estate is booming from affordable housing to luxury properties and this is just the beginning. Prices are still around our 2004 pre boom prices and with the combination of very low interest rates we are offering a perfect buying opportunity.
Miami is not large. We have the Everglades on one side and the Atlantic on the other side combine that with the increasing population and strong buying demand is making most of Miami real estate attractive everywhere! Currently we are still seeing tremendous growth downtown, in the Brickell area, and all along the Biscayne corridor. The Wynwood area, Doral area and the Design District. In addition there is tremendous growth in Coral Gables, Coconut Grove and all over Miami Beach. Miami has that international appeal keeping our residential and commercial real estate market hot for years to come!
1643 Brickell Ave #3102 The hottest buy on Brickell. In one of the most prestigious buildings in Miami the Santa Maria This is a fabulous two story residence in the sky. Priced at $5,900,000
Click here to view full story in our March/April 2014 issue.
Photos courtesy of Geraldine Pavan